Category Archives: Fund of the Month

Fund of the Month November 2015: Sextant Grand Large

By | Allgemein, Fund of the Month | No Comments

Fund Strategy
Sextant Grand Large is a diversified and flexible fund aiming to international equities, fixed income securities and cash, with a significant safety margin. Exposure to shares may vary from 0% to 100%, depending on the attractiveness or expensiveness of the stock markets, based on a proprietary model that combines a valuation process (using the Price/Earnings ratio of each major Index over a 10-year horizon) with a bottom-up stock selection. As such, the net in equity exposure would increase as the stock markets become cheaper than their historical valuations. The stock selection leverages on the strong expertise of the firm and tradition of a professional equity value manager. Any assets not invested in shares are invested into monetary products or bonds. This approach has proven to generate alpha, while maintaining the fund’s volatility below its benchmark.


Fund Chart
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Fund of the Month October 2015: Tungsten TRYCON Basic Invest HAIG

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Fund Strategy
Tungsten TRYCON Basic Invest HAIG is a systematic short-term CTA offering daily liquidity in a UCITS format. The fund’s objective is to provide absolute returns with a moderate risk-return profile and markedly low correlation to other investments including CTAs. The fund seeks to achieve its objective predominantly through the implementation of its proprietary QuantMatrix which has been introduced in September 2013. The strategy trades some 40 global equity, fixed income and currency markets, using regulated, liquid and exchange traded financial instruments. Both long and short positions can be held seeking to profit from identified trading opportunities. The strategy and its strict risk management are based on a clearly defined set of rules, adjusting the portfolio dynamically to changing market conditions.


 

Fund Chart
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Fund of the Month September 2015: Eiffel Equity Alpha UCITS

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Fund Strategy
Eiffel Equity Alpha UCITS is a discretionary, long-short, sector-focused (Telecom-Media-Technology and Energy in Europe) fund. The fund relies on the CIO and the team’s unique insight and expertise into the TMT and energy sectors to generate outperformance. Drivers are corporate and investment experience, network of contacts, continuous bottom-up research effort, regular meetings with companies, industry experts and regulators.
The portfolio comprises typically 20-30 positions, which generally constitute pair trades between companies in the European TMT sector or between companies in the European energy sector, or between companies in these sectors and indices (market/sector/country or a combination).
The portfolio is managed within strict risk limits aimed at limiting directional, concentration, liquidity and drawdown risks. The fund’s net beta-adjusted exposure is typically between -20% and +20% of NAV, while targeting a low market correlation (as of September 2015: correlation of 0.1 to the Eurostoxx50 since inception of the strategy).


 

Fund Chart
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Fund of the Month August 2015: FDI Audas Piscator

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Fund Strategy
FDI Audas Piscator deploys a multifaceted high-risk investment policy, based on short and long term strategies. Within the short term strategies the fund uses an internally built trading algorithm focussed on derivatives, especially linked to G10 and CEE currencies. This algorithm is the most aggressive investment strategy within the fund and is based on fundamentals, while timing is triggered by certain criteria which are set internally. It uses leverage of up to 1:5. The long term strategy, which makes up 50%-60% of the portfolio, is focused almost exclusively on Romanian fixed income and equities listed on the Bucharest Stock Exchange.


 

Fund Chart

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Fund of the Month June 2015: Alken Fund Absolute Return Europe

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Fund Strategy
The fund aims to deliver positive investment performance or at least preserve capital in any market condition through a L/S Equity portfolio predominantly focused on European stocks. The portfolio is built following a bottom-up stock picking approach combined with a top down overlay to determine the gross and net exposures, with deep company research and stock picking being the predominant driver of returns over the long term. The fund aims to have a maximum volatility target of around 10%; the net exposures can vary between -20% to +80%, with the fund generally exhibiting some directionality (30-35% net exposure reflects a neutral market view) and a gross exposure that is not in excess of 200%. The long portfolio is built primarily through single stocks and the short portfolio has a combination of single stock shorts and index shorts to allow a flexible and efficient management of the net/gross exposure.


 

Fund Chart

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Fund of the Month May 2015: Finlabo Dynamic Equity

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Fund Strategy
Finlabo Dynamic Equity aims to provide an absolute return over time in Euro by investing in a selected portfolio of European stocks and by managing market risk using equity index futures. The equity portfolio is invested usually in about 100 stocks selected from a universe of more than 2,000 stocks listed on European stock exchanges. The stock picking process is based on a multifactorial model developed in-house that uses both fundamental and technical criteria. The net exposure of the fund can vary between -10% up to 90%, while the gross exposure is always below 180%. The fund has one of the longest track records in its category – over 8 years – and has had an average correlation below 0.3 with equity markets. During bull markets the beta of the fund can increase to 0.7 while in bear market the fund can have even a negative beta.


 

Fund Chart

chart Finlabo


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Fund of the Month April 2015: Laffitte Risk Arbitrage Ucits

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Fund Strategy
The Laffitte Risk Arbitrage Ucits Fund was launched in 2007 and hence was one of the first UCITS compliant merger arbitrage funds. The fund is based on short and medium term strategies with a focus on risk management, volatility and capital preservation. Using moderate leverage, the fund targets a return of Eonia +400-700bps with a volatility below 5% and exhibits decorrelation to the equity and bond markets.
The investment process is based on proprietary tools and databases developed for more than 20 years to analyze, monitor and evaluate merger arbitrage opportunities. These software applications allow the fund managers to adopt reactive trading strategies which translate into additional performance. With strict real-time risk monitoring in place and offering daily liquidity the fund aims at investors looking to diversify their bond holdings. Read More

Fund of the Month February 2015: LOYS GLOBAL L/S

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Fund Strategy
The investment strategy of the LOYS Global L/S Fund can be be categorized as Long/Short Equity with a long bias. The fund’s edge is the identification and exploitation of misvalued stocks on the international equity markets. Its investment universe thereby is not limited to specific countries or sectors; in principle any stock exchange traded company all around the world can be a potential investment. On the basis of a fundamental bottom-up analysis, the fund will trade equity that is significantly under- or overvalued. Being the most defensive fund in the LOYS fund range, the LOYS Global L/S has a net long exposure between 10 – 50 %. Read More