Investment Objective
This fund is a long-short equity strategy, seeking to exploit short and mid-term stock price anomalies in companies based mainly in Europe, with opportunistic investments globally.
Latest Meeting Note
Meeting Note 04 Feb 2016
As a pure alpha strategy (Oct 10 — Apr 14), the fund delivered annualised returns of 3.0% with annualised volatility of 10.1%. Since it adopted a more directional portfolio construction approach returns have been very strong, annualising... Read more
As a pure alpha strategy (Oct 10 — Apr 14), the fund delivered annualised returns of 3.0% with annualised volatility of 10.1%. Since it adopted a more directional portfolio construction approach returns have been very strong, annualising at 22.2% with a volatility of 7.7%. This is ahead of the fund’s net return target of 8-10% and comfortably within the volatility target of max. 10%. It is worth noting that the fund is run by the same team that manages the highly successful UBS European Opportunity unconstrained strategy. This 135/35 strategy has significantly outperformed its benchmark (MSCI Europe). Given the teams success managing a market relative strategy we feel the newly adopted more directional approach to this fund makes intuitive sense.
Performance
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 0.7 | 1.0 | 0.2 | 0.7 | 0.2 | 0.8 | 0.2 | 0.2 | 1.0 | 0.3 | 0.8 | 0.1 | 0.3 | |
| 2021 | 0.9 | 0.1 | 1.0 | 0.3 | 0.7 | 0.5 | 0.9 | 0.4 | 0.6 | 0.1 | 0.4 | 0.6 | 0.9 |
