Our monthly performance report highlights the ten best and worst performing funds in each strategy, both for the prior month and the year to date. Featured funds this month include:
BANOR SICAV Greater China Equity
For the full report, please download below:
The largest new launch in the final quarter of 2018 was the BlackRock BSF UK Emerging Companies Absolute Return fund, managed by Dan Whitestone, which raised £141m from inception in October. Unlike during the quieter summer months of Q3, we were pleased to track a larger number of new funds launching in the sector last quarter. We tracked a total of 15 new launches during Q4, raising a combined £672m in AUM. We have tracked 45 new launches over the past 12 months, raising £2.7bn combined. This is down slightly on the previous quarter (57 new launched raising £3.4bn combined).
2018 proved to be another eventful year in the UCITS platform space with Morgan Stanley’s decision to close-down their UCITS platform sending shockwaves through the industry. Another major development was BAML disposing of their UCITS platform through a sale to Generali. Both these events have materially changed the UCITS platform landscape, particularly from the point of view of managers looking to launch a UCITS fund on a third-party platform. Assets under management on third-party platforms has increased by 7% (when not accounting for the MS closure) with BAML/Generali the largest platform by assets at $6.1bn.
A catalyst driven strategy designed to profit from mispriced securities that are subject to corporate events including restructurings, M&A, and spinoffs. Boussard & Gavaudan has an extensive derivate trading background, with trades generally implemented through instruments with non-linear payoff profiles. The strategy has been run in UCITS format since late 2014 and has annualised at 0.9% following a disappointing 2018 but has a solid long-term track record in offshore format, annualising at 5.8% with a vol. of 5.6% since inception in March 2003.
Monthly Fund Performance Report - January 2019
Alternative UCITS Quarterly Report: Q4 2018
Third Party UCITS Platforms - 2018 Update
Boussard & Gavaudan Absolute Return
AH UCITS Index
|AH Global Index||1.31||0.4||1.3||-4.8||-4.7|
|AH Credit Index||1.19||0.2||1.2||-2.1||-2.7|
|AH Equity Long / Short Index||2.07||0.7||2.1||-4.6||-4.9|
|AH Event Driven Index||1.32||0.5||1.3||-2.5||-3.5|
|AH FX Index||-0.35||-1.1||-0.4||-1.9||-1.6|
|AH Macro Index||1.46||-0.1||1.5||-3.6||-3.8|
|AH Managed Futures Index||-1.51||0.8||-1.5||-14.9||-9.3|
|AH Market Neutral Index||0.79||-0.4||0.8||-3.0||-3.1|
|AH Multi Asset Index||2.86||0.6||2.9||-4.7||-6.3|