Investment Objective
The investment objective of the Fund is to provide investors with an absolute return through a long-short strategy investing primarily in Europe. The Fund is typically concentrated across of 20-40 stocks on the long side of the portfolio and 30-60 stocks on the short side of the portfolio selected from a universe of approximately 1,000 stocks across all market capitalisations.
Latest Meeting Note
Meeting 04 Jun 2024
The Man GLG European Leaders fund employs a low net equity long/short strategy focused on growing, profitable, high return on capital businesses that are listed in Europe. The team is led by Sof Yiannakas (ex Soros) and employ a public p...
The Man GLG European Leaders fund employs a low net equity long/short strategy focused on growing, profitable, high return on capital businesses that are listed in Europe. The team is led by Sof Yiannakas (ex Soros) and employ a public private equity philosophy, with a multi-year investment horizon for long positions. The long portfolio prioritizes stocks with sustainable long-term earnings and free cash flow growth at a reasonable price (Compounding leaders), businesses which are on a ‘good to great journey’ (Emerging leadership) and mispriced/misunderstood opportunities (Value leadership). On the short side, security selection is driven by forensic accounting processes with the aim to identify earnings quality weakness, where economic reality differs from accounting representation and market perception. The final portfolio is relatively concentrated, typically holding 20-40 long positions and 30-60 short positions at any given time. The net exposure typically ranges from 0-10%, with gross exposure between 150-200%.
Performance
JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2023 | 0.7 | 0.1 | 0.9 | 0.6 | 0.9 | 0.9 | 0.2 | 0.9 | 0.6 | 0.2 | 0.7 | 0.4 | 0.2 | |
2022 | 0.4 | 0.4 | 0.1 | 0.2 | 0.1 | 0.5 | 0.5 | 0.6 | 0.8 | 1.0 | 0.1 | 0.0 | 0.5 |