MontLake Chelodina UCITS

Investment Objective

The Chelodina UCITS Fund, managed by Marble Bar Asset Management (MBAM), is a multi-portfolio manager, long/short equity fund combining the best of discretionary investing with bespoke trading technology, behavioural insights and performance analytics. The portfolio is run on a low net with exposure to various global markets.

Latest Meeting Note

Meeting 06 Feb 2020

MBAM Chelodina UCITS launched in November 2019 on the Montlake Platform. The strategy, managed by Marble Bar Asset Management (MBAM), is a multi-PM long short equity fund combining a diverse range of discretionary investing approaches wi... Read more

MBAM Chelodina UCITS launched in November 2019 on the Montlake Platform. The strategy, managed by Marble Bar Asset Management (MBAM), is a multi-PM long short equity fund combining a diverse range of discretionary investing approaches with advanced trading technology (RAID, MBAM’s proprietary trading platform) and performance analytics with the aim of delivering repeatable, alpha driven absolute returns. Capital is deployed via a dynamic asset allocation process to eight portfolio managers (this number is expected to increase as the fund scales up) running independent, low-net equity-based portfolios across a variety of geographical regions, sectors and styles. At portfolio level, there are three different strategy buckets: core strategies (70% of total risk, experienced PMs running portfolio with defined mandates), sleeve strategies (20% of total risk, PMs operating trading approaches which are accretive to the risk profile of the fund) and incubation strategies (10% of total risk, selected number of ‘unproven’ strategies having significant opportunity to growth). Capital allocation is formally reviewed on a monthly basis and consists of an in depth quantitative and qualitative assessment of each PM’s performance (volatility, beta, Sharpe ratio, return on invested capital, etc.) versus expectations. At fund level, net exposure can oscillate between -/+20% (less in beta adjusted terms) while gross exposure is run at about 250%. The strategy has been live in offshore format since June 2018 and has generated annualised returns of 6.7% with a volatility of 1.7%.

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2019 0.1 0.5 0.8 0.5 0.2 0.5 0.9 0.8 0.3 0.8 0.8 0.1 0.2
2018 0.3 0.6 0.4 0.5 0.0 0.4 0.6 0.1 0.0 0.9 1.0 0.8 0.4

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Close Current Site Absolute Hedge is a market leading UCITS research database providing proprietary research on funds, themes and strategies in the UCITS space. Kepler Trust Intelligence is produced by the investment companies team at Kepler Partners and is the UK’s premier source of detailed qualitative research on investment trusts. Kepler Liquid Strategies is a Dublin domiciled UCITS fund platform featuring a number of best-of-breed fund managers. Kepler Partners is a corporate advisory and asset raising boutique specialising in the regulated funds market in Europe and investment trusts in the UK.