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

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



Fund FactsAlken_logo
Inception date: 28th January 2011
AuM: EUR 2,331m
Sharpe ratio: 1.17
Volatility: 7.87%
1 month performance: 4.10%
3 month performance: 2.83%
36 month performance: 36.58% YTD performance: 8.42%
Ann. perf. since inception: 9.09%
(All data as of May 29th 2015)



Portfolio Manager

Nicolas WalewskiNicolas Walewski (pictured on the left) is the Managing Director of Alken Asset Management Ltd, which he founded in 2005. He is the portfolio manager of the Alken European Opportunities Fund, the Alken Absolute Return Europe, the Alken Small Caps Europe, and the Alken Capital One Fund. Previously, Nicolas was the fund manager of the Oyster European Opportunities Fund at Banque Syz in London from 1999 to 2005. The Fund outperformed the STOXX 600 by an annualised average rate of 7.3% p.a. whilst under his management (from 1 June 1999 to thMarc Festae 30 September 2005). Nicolas has 21 years’ of investment experience.

Marc Festa joined Alken Asset Management in 2008, as an analyst covering the industrials, luxury goods and healthcare sectors. Following the strong growth of Alken AM, and due to Alken’s commitment to recognising internal talent, Marc was appointed co-portfolio manager in 2011, working alongside Nicolas Walewski across all of Alken’s product range. Marc Festa continues his specialist coverage of the automotive sector whilst co-managing the portfolios. Marc has 11 years’ of investment experience.

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