There is a large and growing universe of UCITS funds targeting absolute returns. We want to help investors understand this universe better, and enable proper comparisons between different funds.
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Our monthly performance report highlights the ten best and worst performing funds in each strategy, both for the prior month and the year to date. Featured funds this month include:
A defensive, global long-only multi-asset fund run by Geoff Marson. The strategy allocates between direct equities, equity indices, credit, government bonds, currencies and gold. The fund uses a barbell strategy between safety and return seeking assets, allocating actively and dynamically over the cycle. The portfolio comprises c.50 holdings, blending a top-down macro focus, with bottom up security selection driven by company meetings and the 15+ analysts at Odey. Performance since inception has been steady, annualising at 4.5% with a volatility of 6.5%.
Managed by Mark McKenna, this event driven fund is designed to exploit opportunities across a wide spectrum of corporate events, from announced M&A to management change.The fund targets a net return of 6-8% and is managed using a relatively conservative mind-set, with a particular focus on hedging positions and isolating specific event risk.Since inception, the fund has delivered solid performance in a difficult environment for many event focussed funds. Returns have annualised at 4.2% with a volatility of just 3.5%, creating an attractive risk/return profile.
The Merian Global Equity Absolute Return fund has become one of the bellwether market neutral strategies in UCITS format, gathering significant assets and delivering attractive performance since launch. It is a market neutral strategy which utilises a systematic stock selection process to build a diversified portfolio of global equities. The fund aims to achieve positive rolling 12-month returns in all market conditions, with a low correlation to equity and bond markets, and a volatility limit of 6%. Since inception, returns have annualised at an impressive 5.1% with a volatility of 4.9% and with no correlation to the major asset classes.
Kepler Global Alternative UCITS Conference – April 9th 2019
Kepler Equity L/S UCITS Conference – February 6th 2019
Kepler Macro / Quant UCITS Conference – November 8th 2018
Old Mutual Global Investors soft close UK long/short fund
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