Interview with Detlef Glow, Thomson Reuters Lipper

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detlef-glowDetlef Glow is Head of EMEA Research at Lipper. He joined the firm in 2005 from FERI Wealth Management, where he was Director of Portfolio Management, managing segregated accounts for high-net-worth individuals (HNWI). Prior to FERI, he spent nine years with tecis Holding AG, most recently as Head of Fund Research for tecis Asset Management AG. In this role he was responsible for quantitative and qualitative fund research for the tecis fund of funds, the HNWI accounts, and the recommendation list of funds for the financial-advisor arm of tecis. Detlef has an MBA focusing on Financial Services from the University of Wales/Cardiff, as well as a BA in Business Administration

UCITSindex.com: Mr. Glow, you co-authored the European Fund Market Insight Report Q2 2016. What were the key findings?
Detlef Glow: The key findings of the report are, firstly, that the European fund industry is further into a consolidation mode; European fund promoters took 226 products off the market in Q2 2016. Secondly, even though multi-asset funds are at the moment out of investors’ favor, looking at the net new sales in multi-asset products for 2016 so far compared to 2015, mixed-asset products are the only product category showing a net increase in the number of funds during Q2 2016. Read More

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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UCITS HFS Index undecided, performance of 0.00% in September 2016

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After a solid recovery over the last two months, the UCITS HFS Index comes to a halt with a performance of 0.00% in September 2016. The broad index started positively into the month with a performance of 0.10% after the first full week of trading. The second week saw the UCITS HFS Index lose -0.25%, its only weekly loss in September. As the broad index recovered 0.07% and 0.08% in week three and four, respectively, the performance for the month was flat. Of all funds tracked 52.10% reported gains in September 2016.

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Interview with Mussie Kidane, Banque Pictet & Cie SA

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Mr. Mussie Kmussie-kidaneidane is the Head of Fund Selection and heads a 7 member team responsible for selecting best-in-breed fund managers across all asset classes for Pictet Wealth Management globally. Mr. Kidane is also the portfolio manager of a US$ 2billion low volatility fund since 2007. Prior to joining Pictet, Mr. Kidane was analyst & portfolio manager within the fund selection and multimanagement team at LODH &
Cie.

UCITSindex.com: Mr. Kidane, your team is directly responsible for overseeing close to CHF 11 billion in external fund managers. What types of strategies do you invest in?
Mussie Kidane: We select and monitor a wide range of products covering equities, fixed income and real assets both active and passive investment strategies. Our mission is to build a toolbox that will help our discretionary and advisory management units implement the strategic and tactical asset allocation decisions made by the Wealth Management Investment Committee (WMIC). Read More

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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UCITS HFS Index continues recovery, up 0.12% in August 2016

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After a solid performance in July, the UCITS HFS Index continues its recovery with gains of 0.12% in August 2016. The broad index started positively into the month with a performance of 0.12% in week one. The second week saw the UCITS HFS Index rise 0.25%, before the momentum shifted in the second half of the month: week three caused a decline of -0.25%, while the last one-and-a-half weeks of trading added a further loss -0.02%. Of all funds tracked 63.09% reported gains in August 2016.

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Interview with Holger Knauer, Catana Capital

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Holger KnauerPrior to joining Catana Capital, Holger Knauer was a board member of EUR 1.8bn Celios Investment-AG TGV and its predecessor Prisma Investment-AG TGV since 2011 which he co-founded. Before that he was with Universal Investment for more than a decade as a deputy head of department for institutional sales and relationship management.

UCITSindex.com: Although big data has been a buzzword for quite some time, the finance industry seems to be late to the party once again. Except Google’s plans to launch robo-advisors at some point in the future not much seems to happen. Why are there not more fund managers building products around big data?
Holger Knauer: Because it is not so easy to do and many fund managers are still quite relaxed in their comfort zone. With volatility in markets increasing, the accelerating negative interest environment and crowded carry trades no longer working, however, this is about to change. So investors are looking for new ways of allocating and our Big Data based asset management approach is a way to do that. There are a number of large funds experimenting with big data already, but many of them are still either trying to understand what it is all about or using it as one of many components to their existing trading strategies. Read More

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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UCITS HFS Index bounces back, up 0.75% in July 2016

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After a drawdown in June due to the market turmoil that surrounded the Brexit vote, the UCITS HFS Index bounces back reporting gains of 0.75% in July 2016. The broad index started strongly into the month with a positive performance of 0.32% after the first full week of trading. Keeping the pace, week two brought along additional gains of 0.30%. Although the UCITS HFS Index slowed down in the second half of the month, week three and four still saw the index rise 0.11% and 0.03%, respectively. Of all funds tracked 76.23% reported gains in July 2016.

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Interview with Mike Judith, DNB Asset Management

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Mike JuditzMike Judith joined DNB Asset Management S.A. in June 2010. Since 2015, he has been heading both the Luxembourg-based portfolio management as well as the international sales team. Mike has also been lecturing at the Frankfurt School of Finance & Management in Germany since 2007 and holds banking-related Bachelor’s degrees and a Master’s in Banking Management (Dipl. Bankbetriebswirt).

UCITSindex.com: DNB set up UCITS alternative funds as early as 2007, way before most alternative asset managers even knew about the possibilities under the UCITS directive. What led to this decision?
Mike Judith: Initially, one of our long-standing customers who already trusted in our stock-picking capabilities in thematic areas, asked us to propose corresponding market neutral strategies. Based on the existing fundamental bottom-up stock selection approach, we launched market neutral funds which simply strip out unwanted beta and leave investors with our ability to generate alpha. We will complete our 10 year track record in 2017. Read More