Brummer Multi-Strategy UCITS

The Brummer Multi-Strategy fund ("BMS AIF", offshore) has been running for over 22 years and now consists of over 100 investment personal across 9 teams. The fund is Brummer’s main seeding vehicle and the portfolio consists of c. 10 funds from within the Brummer & Partners group. The portfolio is structured to make sure the majority of risk and return is market neutral and idiosyncratic, while directional risk is dynamic and limited, primarily coming from trend following. A core tenant of construction is that the different managers over time are expected to be lowly correlated with one another as well as traditional assets, ultimately creating an all-weather strategy. The BMS fund currently consists of five equity market neutral sector specialists (financials, industrials, healthcare etc), two trend followers (one traditional and one alternative, which help to provide crisis alpha) and 2 systematic macro funds (one which isn’t in the UCITS as it has a more alternative markets focus). The team are looking to add 3-5 new managers across the next couple of years and in particular across the market neutral sector specialist space. The BMS investment team responsible for sourcing new managers for the fund usually meet c. 100 fund management teams per year. The UCITS version of the fund was launched in November 2020 with internal capital before accepting client capital in December. The fund aims to have a minimal tracking error vs the BMS AIF and has an increased risk profile by c. 1.5x.