Syquant Helium Invest

Investment Objective

The investment objective of the Fund is to provide capital growth by exploiting opportunities in the pricing of securities, financial derivative instruments and debt obligations. The fund will have a credit / equity angle across the three underlying strategies that make up the portfolio; Special Situations Credit, Credit Vs Equity Arbitrage, Equity Arbitrage.

Latest Meeting Note

Meeting 01 Jun 2022

Syquant Capital are an established French asset manager founded in 2005 by Henri Jeantet and Olivier Leymarie with €3.6bn managed across equity and credit event driven strategies. The firm’s central expertise is event driven investing ac... Read more

Syquant Capital are an established French asset manager founded in 2005 by Henri Jeantet and Olivier Leymarie with €3.6bn managed across equity and credit event driven strategies. The firm’s central expertise is event driven investing across credit, soft catalyst equity and merger arbitrage, with the fund running four UCITS funds across different risk/return profiles and strategy-style. The Helium Invest fund is the firm’s credit offering, allocating 75% towards event driven credit and 25% short-term credit, whilst the remaining funds focus solely on equity-based event investing. The Helium Invest fund’s lead PM is Syquant’s Head of Credit, Philippe Saudrea who is supported by PM, Pierre Duquenne-Lietar, and also by CIO Henri Jeantet. The portfolio consists of three main credit strategies centered around corporate actions, M&A and capital structure opportunities, with the team investing on the basis that a short term catalyst is present. The team typically do not hold long-term events, for example they turned the book 10x in 2021, as they look for 2-3 month events and are not interested in taking on long-term credit and interest risk. The overall process starts with a quantitative screening of deals which is then paired with relative and fundamental value analysis by the team, which the portfolio trading mainly European events (c. 80% risk). The final 25%, is a discounted asset sleeve which typically trades dislocations in corporate bonds, and the return profile helps to smooth the overall return profile of the fund. The portfolio is diversified in nature with an average of 75 positions, broken down roughly as 65-80% investment grade and 20-35% high yield. The fund generally targets a return of 4-5% with a similar vol, and uses a gross budget of 200%.

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2023 0.9 0.3 0.4 0.6 0.8 0.2 0.9 0.3 0.3 0.8 0.9 0.2 0.9
2022 0.8 0.6 0.2 0.2 1.0 0.1 0.4 0.2 1.0 0.5 0.5 0.8 0.7

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