Investment Objective
The UBS Currency Allocation Return Strategy ("CARS") is an active currency fund, investing across both developed and emerging market currencies. The Fund seeks to generate a return of cash +10% p.a., at a long-term expected average risk of around 20%, over a full market cycle (3-5 years). CARS has a valuation-led philosophy, complemented by an assessment of shorter-term market drivers. It takes a long-term approach to currency investing with a strong focus on risk and diversification. The Fund allocates risk capital typically across 10 relative value currency trades. These trades are predicated by investment themes derived from fundamental, quantitative and qualitative analysis.
Performance
| JAN | FEB | MAR | APR | MAY | JUN | JUL | AUG | SEP | OCT | NOV | DEC | YTD | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 0.4 | 0.1 | 0.4 | 0.8 | 0.3 | 0.4 | 0.6 | 1.0 | 0.1 | 0.4 | 0.6 | 0.4 | 1.0 | |
| 2022 | 0.3 | 0.4 | 1.0 | 0.3 | 0.7 | 0.4 | 0.1 | 0.6 | 0.7 | 0.8 | 0.0 | 0.0 | 0.3 |
