Category Archives: Fund of the Month

Fund of the month October 2016: TREA 3G Credit Opportunities

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Fund Strategy
The TREA 3G Credit Opportunities is a UCITS compliant fund domiciled in the Grand Duchy of Luxembourg. The fund’s investment objective is to generate alpha by investing in a high conviction portfolio of debt securities within the Emerging Markets universe, while lowering portfolio volatility and correlation to indices through a variety of techniques, including duration management, sector allocation, macro hedging and investing in non-correlated asset classes.
The objective of the Fund is to invest in EM sovereign and corporate bonds where the manager believes there is an opportunity to achieve an attractive return on an absolute basis. The Fund is not managed against a benchmark and has considerable flexibility in its investment universe.
The investment process of the fund consists of three steps: first a top down approach to formulate a macro view, then a bottom up fundamental and technical analysis for credit selection, followed by the portfolio construction.


Fund Chart
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Fund of the month September 2016: Global Time Diversified Absolute Return Fund

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Fund Strategy
The Principal Global Investors Funds – Global Time Diversified Absolute Return Fund is a UCITS compliant fund domiciled in Ireland. It aims to provide a consistent stream of positive returns in excess of USD 3-month LIBOR over a 3 – 5 year horizon. The Fund is a 50 / 50 risk weighted blend of a macro discretionary alpha process and a discretionary systematic process and invests in FX derivative instruments within the developed market universe. The distinct characteristics of the underlying strategies help the Fund diversify across multiple factors which results in a more stable return profile than most single strategy approaches whilst remaining lowly correlated to other market betas. It invests solely in FX derivative instruments within the developed market universe.


Fund Chart
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Fund of the month August 2016: LINDEN Core Fund 2X

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Fund Strategy
The LINDEN Core Fund 2X is a UCITS compliant fund domiciled in Ireland which exclusively trades the ecamos Core Strategy. It aims to achieve substantial medium to long term capital appreciation by implementing a diversified portfolio of systematic investment strategies based on economic principles. The main driver of the strategy consists of a unique model combining trend following and mean reversion into a single concept, which is implemented globally across more than 75 highly liquid futures markets spanning all asset classes (equities, interest rates, bonds, currencies and commodities). The addition of several satellite strategies further increases portfolio stability and results in a generally uncorrelated risk-return profile.


Fund Chart
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Fund of the month July 2016: MFM Global Thematic L/S UCITS

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Fund Strategy
MFM Global Thematic L/S UCITS is a multi-thematic Long/Short equity strategy. It invests in growing themes by buying companies globally. The Investment Manager will identify core themes that he considers offer attractive long-term investment opportunities to shareholders. The themes will change from time to time. The objective is to generate a better risk/reward than investing in global equities. The strategy is value driven, qualitative, non-benchmarked and has a low turnover. The derivative instruments will be generally used to gain a short exposure to certain equities or equity related securities while the long exposure will be achieved through direct investment in the targeted securities. Main investment constraints are that the fund has to be net long, with a maximum exposure of 50% to Emerging Markets and a minimum exposure of 50% gross equity invested. Historically, the fund has not been using much leverage.


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Fund of the month June 2016: Renasset Ottoman Fund

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Fund Strategy
The Renasset Ottoman Fund is an unconstrained bottom-up stock picking fund with a macro overlay, primarily investing in Emerging European equities. The fund may also opportunistically invest in the broader EMEA markets if the opportunity arises based on the fund manager’s risk-adjusted return matrix. The fund has been managed by Aziz Unan since inception in January 2006 and it has been awarded the best Emerging European by Euro Am Sonntag over 10 years due to its outstanding performance. Aziz actively uses index futures, options and may hedge currencies during times of market stress in order to protect downside and reduce volatility of the fund. On the long side, Aziz’s strategy is “cash flow” and “return on capital invested” driven based on the in-house research proprietary database that’s is used to cover over 200 stocks in the region.


Fund Chart

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Fund of the month May 2016: DNB TMT Absolute Return

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Fund Strategy
The DNB TMT Absolute Return Fund is a UCITS global equities long/short hedge fund focused on the sectors telecom, media and technology (TMT). The team screens more than 500 companies within the universe, covering 300+ of those in detail before entering into a position (either long or short) in approximately 110 stocks. The fund is fundamentally equity market neutral with a net market exposure of +/- 20%. Looking for long-term trends within the TMT universe the team tries to identify stocks that are positioned best and worst, respectively, towards changing industry trends. The TMT sectors are characterized by a rapid change, which benefits certain business models while being disruptive for others. Understanding the industry themes and trends is a critical part of the investment
process and forms the basis for the stock screening process. A comparable strategy has been executed successfully by the management team in an offshore hedge fund since 2007.


Fund Chart

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Fund of the month April 2016: Garraway Financial Trends

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Fund Strategy
Garraway Financial Trends is a systematic trend following managed futures fund trading in global financial markets. It aims to perform independently of traditional stock and bond investments, thereby providing valuable diversification benefits and potentially improving the risk/reward profile of a traditional portfolio. The investment manager employs a systematic, proprietary, trend following strategy which currently trades across 36 UCITS eligible exchange traded financial futures. The strategy looks to identify longer term and shorter-term price trends. The aim is to enter the market in the direction of the long-term trend when ‘action’ is taking place, this is typically when new highs are being made in an up-trend or new lows are being made in a down-trend. The fund then exits the market when ‘reaction’ is taking place, this is typically when markets are falling from recent highs in the case of a long position or rallying from recent lows in the case of a short position. The strategy is agnostic: It has no intrinsic bias to taking a long or short position in any of the markets in which it trades and can spend long periods of time with no position at all. Positions are sized by the strategy in line with each specific market’s volatility. The strategy trades futures on a wide range of global currencies, stock indices and government bonds. It only trades highly liquid exchange listed contracts.


Fund Chart

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Fund of the Month March 2016: IPM Systematic Macro

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Fund Strategy
The objective of the IPM Systematic Macro Strategy (the “Strategy”) is to generate consistent positive returns. The Strategy is based on proprietary investment models that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns. The investment models employed evaluate the relative attractiveness of financial instruments and exploit the divergence in fundamentals by taking long and short positions. The information derived from these models is processed in a systematic way on a daily basis whereas the identified dislocations are typically medium to long term. The IPM Systematic Macro Strategy was first launched in 2003. It has a long term proven track-record, with competitive and diversifying returns. The Strategy has the potential to add value to an institutional investor’s portfolio due to its low correlation to traditional and alternative investment strategies. The strategy is also available in a UCITS format – further information can be found on the fund website.


Fund Chart

chart_2016_03_IPM_blue* Calculations based on monthly observations of the track record of the reference strategy, IPM’s Systematic Macro Fund. From the inception date, July 1st, 2006, IPM Systematic Macro Fund, net of fees, B Shares (Bloomberg: IPMGLTB KY Equity) with management Fee 1.0%, performance fee 20%, HWM until Dec 2012 (discontinued), then E shares (IPMGLTE KY Equity) with management Fee 2.0%, performance Fee 20%, HWM) until Feb 2015 and thereafter IPM Systematic Macro Fund, net of fees, E shares (Bloomberg: IPMGLTE KY Equity) with management fee 1.5%, performance fee 20%, HWM.
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Fund of the Month February 2016: Alpha Blend Global Income

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Fund Strategy
The Alpha Blend Global Income Fund’s (UCITS) objective is to achieve a return target of cash + 4-6% and to offer portfolio diversification by combining yield from both the fixed income and global currency markets. The fund combines two proven and successful strategies with long track records and significant Assets under Management.
The investment scope is broad, allowing it to tactically source yield from a variety of instruments with active duration management, including the possibly of negative duration. An alpha overlay of currency returns sourced through a swap investment in a rules-based global currency index delivers returns from some of the world’s top performing FX managers. This return stream is added on top of the diversified fixed income portfolio. The fund has demonstrated low correlation and strong returns even in most recent times.


Fund Chart

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* Details of the underlaying strategies incl. Bloomberg Ticker:
• LGT Fixed Income = LGT Strategy 2 year fund UCITS (LGT2EUR_LE). The fund was launched in 2000, please refer to Bloomberg or other sources (LI0008232030)
• Alpha Blend Global Currency Index (CEXTI9_Index)  (65% vol scale)
• since 08/2015 performance of Alpha Blend Global Income Fund UCITS (ABGEI2_LE) Read More

Fund of the Month December 2015: Oaks Emerging and Frontier Opportunities Fund

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Fund Strategy
The strategy of the fund is to invest in a long and short portfolio of equities in frontier and less developed emerging markets. The portfolio is managed bottom-up fundamental, taking advantage of the low levels of quality analysis of these companies to generate absolute performance on both long and short positions.
Asset allocation is determined by bottom-up company valuations rather than by macro views. The investment criteria for the short positions are a mirror of the long portfolio where the fund manager’s analysis is focussed on finding companies with strong management and corporate governance that are geared in to the excess economic growth created by the reform processes that many of these markets are experiencing. The management is always being met before an investment is made, the fund manager builds a financial model of the company and he populates the long portfolio with companies with strong revenue and earnings growth, strong cash-flow and low levels of debt.


Fund Chart

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