A catalyst driven strategy designed to profit from mispriced securities that are subject to corporate events including restructurings, M&A, and spinoffs. Boussard & Gavaudan has an extensive derivate trading background, with trades generally implemented through instruments with non-linear payoff profiles. The strategy has been run in UCITS format since late 2014 and has annualised at 0.9% following a disappointing 2018 but has a solid long-term track record in offshore format, annualising at 5.8% with a vol. of 5.6% since inception in March 2003.
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:
LGT Alpha Generix Long Volatility
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A systematic, multi-asset fund with a global macro orientated strategy that seeks to generate uncorrelated returns to the broader capital market indices. The strategy allocates long and short to equities, bonds and commodities based upon both tactical and strategic signals. Since inception in 2015, the fund has generated annualised returns of 3.9% with a vol. of 6.5%.
A hedged equity strategy that combines a high conviction equity book with a hedging programme implemented through listed futures and options. The strategy employs a long-biased, value-orientated, counter–cyclical approach to investing in equities with a core focus on compounders and event driven/special situations. At the heart of CDAM’s strategy is a highly concentrated book of global stocks with investments held for the long term, Over time it is this core equity book that is the driver of returns for the strategy, and by maintaining a high conviction portfolio the team are able to continually underwrite each investment. CDAM was founded in 2006, and since then the strategy has delivered equity-like returns with materially lower drawdown and volatility.
Boussard & Gavaudan Absolute Return
Monthly Fund Performance Report - December 2018
Invesco Macro Allocation
KLS CDAM Global Opportunities
AH UCITS Index
|AH Global Index||-0.86||0.7||0.0||-4.7||-4.7|
|AH Credit Index||-0.43||0.8||0.0||-2.7||-2.7|
|AH Equity Long / Short Index||-1.87||1.2||0.0||-4.9||-4.9|
|AH Event Driven Index||-1.24||1.0||0.0||-3.5||-3.5|
|AH FX Index||2.00||0.5||0.0||-1.6||-1.6|
|AH Macro Index||-0.35||1.0||0.0||-3.8||-3.8|
|AH Managed Futures Index||0.95||-1.5||0.0||-9.3||-9.3|
|AH Market Neutral Index||0.33||0.2||0.0||-3.1||-3.1|
|AH Multi Asset Index||-1.83||1.5||0.0||-6.3||-6.3|