Lumyna - BlueCove Alternative Credit UCITS Fund

Investment Objective

The Lumyna - BlueCove Alternative Credit UCITS Fund invests in a market neutral long-short portfolio of individual instruments across global liquid credit and rates markets including exposure to long-short corporate bond investments. The fund seeks to generate attractive risk adjusted returns with low correlations to broad equity and fixed income credit markets.


Latest Meeting Note

Meeting 17 Mar 2023

The Lumyna - BlueCove Alternative Credit UCITS fund is a systematic market neutral strategy which invests across a broad investment universe of liquid developed market credit in bond and CDS instruments. The fund is built around a core l... Read more

The Lumyna - BlueCove Alternative Credit UCITS fund is a systematic market neutral strategy which invests across a broad investment universe of liquid developed market credit in bond and CDS instruments. The fund is built around a core long/short, market neutral portfolio of single name credits, designed to generate alpha from inefficiencies in the Investment Grade and High Yield sectors. This is achieved by using a set of proprietary signals that combine sentiment indicators, valuations and fundamentals. This book is then complemented by an asset allocation overlay, designed to enhance core portfolio returns via long or short directional credit exposures, implemented via CDS indices, US Treasury futures and an IR/FX overlay, designed to provide the fund with additional and diversified sources of returns. The final portfolio, typically, includes 800+ issues, evenly split between longs and shorts, and is run on a sector neutral basis, i.e. +/-10%. Positions are sized based on an optimisation process which aims to efficiently translate Alpha expectations, net of transaction costs, into portfolio positions.

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2023 0.9 1.0 0.3 0.8 0.3 0.3 0.0 0.3 0.2 0.5 0.8 0.4 0.1
2022 0.0 0.7 1.0 0.5 0.5 0.4 0.3 0.9 0.1 0.7 0.1 0.8 0.9

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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.