Macro

Strategy Research, 15 Apr 2020

Index Research Funds

AH Macro UCITS Index

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2020 -0.2 -1.4 -5.8 1.5 2.1 -3.9
2019 1.5 0.1 0.4 0.7 -0.4 1.0 0.3 0.3 0.9 0.5 -0.1 1.1 6.3
2018 1.3 -0.8 -0.7 0.4 -1.3 -0.6 0.4 -1.6 0.3 -0.6 -0.2 -0.3 -3.8
2017 -0.2 0.1 0.5 0.2 0.3 0.3 0.1 0.0 0.4 0.4 -0.3 -0.3 1.7
2016 -0.7 -0.7 0.3 0.5 0.0 -1.0 0.8 0.1 -0.4 1.1 -1.0 1.0 0.0
2015 0.9 0.7 0.2 0.1 0.4 -1.1 0.1 -1.2 -1.3 0.7 -0.1 -0.8 -1.4
2014 -0.8 0.4 0.1 -0.3 0.7 -0.5 0.1 0.0 0.7 -0.4 0.5 -0.7 -0.3
2013 1.2 0.0 0.1 0.5 0.8 -1.4 0.1 -0.7 0.2 0.8 0.1 0.5 2.3
2012 1.3 1.0 -0.3 -0.9 -1.1 -0.2 0.9 0.3 0.4 -0.2 0.1 0.4 1.7
2011 -0.5 0.6 -0.1 0.4 -0.7 -1.5 -0.2 -1.7 -1.5 1.1 -0.3 0.2 -4.1
2010 -0.2 0.8 1.9 0.4 -2.5 -1.0 0.4 1.1 1.3 0.0 0.1 1.4 3.7
Download Index Return Series

Top Funds YTD

YTD
Odey Odyssey Opportunistic 14.1
Lemanik SICAV Global Strategy Opportunistic 12.2
Pacific G10 Macro Rates Opportunistic 7.4
U Access (IRL) Trend Macro Opportunistic 7.0
KLS Arete Macro Opportunistic 6.9
Quantitative Fixed Income Macro UCITS Systematic 6.7
GAM Star Emerging Market Rates Opportunistic 6.4
Allianz Fixed Income Macro Opportunistic 6.1
Graham Macro UCITS Opportunistic 5.9
JPM Global Macro Opportunities Opportunistic 4.6

Bottom Funds YTD

YTD
H2O Vivace Opportunistic -62.1
H2O Allegro Opportunistic -44.5
H2O MultiReturns Opportunistic -23.5
Artemis Strategic Assets Opportunistic -19.1
HI Sibilla Macro Fund Opportunistic -11.6
Lyxor / Bridgewater Core Global Macro Systematic -11.5
IPM Systematic Macro UCITS Systematic -10.2
Insight Global Absolute Return Diversified -9.4
GAM Systematic Core Macro Systematic -9.2
H2O Adagio Opportunistic -8.3

Largest New Launches (12M)

AUM
Lyxor / Bridgewater Core Global Macro £817m
JPM Global Macro Sustainable £577m
AXA World Funds - Chorus Systematic Macro £169m
Two Trees Systematic Global Macro Fund £41m

Strategy AUM

31 March 2020
£44.1b -23% YOY

Largest Funds

AUM
Invesco Global Targeted Returns £8.7b
Legg Mason Western Asset Macro ... £4.9b
ASI Global Absolute Return Strat... £4b
Aviva Investors Multi-Strategy T... £3.6b
JPM Global Macro Opportunities (... £3.6b

Largest Inflows (Q1'20 - Q1'19)

Change AUM
KLS Arete Macro £210m £367m
River and Mercantile Global Macro £144m £98m
Bellevue Funds (LUX) BB Global M... £85m £542m
Acadian Multi-Asset Absolute Return £73m £85m
Lemanik SICAV Global Strategy £54m £341m

Largest Outflows (Q1'20 - Q1'19)

Change AUM
ASI Global Absolute Return Strat... £-5,323m £4b
Invesco Global Targeted Returns £-2,996m £8.7b
H2O Adagio £-2,907m £3.3b
Invesco Global Targeted Returns ... £-1,541m £1.8b
Aviva Investors Multi-Strategy T... £-1,316m £3.6b

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Close 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.