Fund of the Month September 2015: Eiffel Equity Alpha UCITS

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
2015_09_chart_Eifel_blue


 

Fund Facts
Inception date: October 4th 2013Eifel Investment Group_logo
Strategy inception: December 1st 2011
AuM: EUR 31.7 million
Sharpe ratio*: 1.0
Volatility*: 3.7%
1 month performance: 0.4%
12 month performance: -2.8%
YTD performance: 0.7%
Ann. perf. since inception*: 3.8%
(All data as of August 31st 2015)

*Note: Equity Alpha (EEA) is a UCITS Fund incepted on 4 Oct. 2013. The strategy has been traded as a Luxembourg SIF fund – Eiffel Equity Opportunities (EEO) – incepted on 1 Dec. 2011. All return and other performance data given herein referring to Eiffel Equity Opportunities are proforma the lower fees implemented in the UCITS version (class I1 – 1.5% management fee and 20% performance fee above HWM). Except when indicated otherwise, all return and other performance data given herein refer to Eiffel Equity Alpha. Past performance does not guarantee or imply future success.


 

Portfolio Manager
Pierre-Antoine Machelon Pierre-Antoine Machelon joined Eiffel Investment Group in 2009. He has over 20 years of experience in equity markets combining research, corporate roles and investment experiences. After 13 years of experience in equity research at Exane BNPP, he spent several years in senior business and financial roles in industrial companies. From 2006 to 2009, he held various positions within the Louis Dreyfus group and its subsidiary Neuf Cegetel (including Head of Investor Relations and Head of M&A). Pierre-Antoine holds masters from ESSEC business school and Paris Dauphine University.


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