Macro

Strategy Research, 25 Feb 2021

Index Research Funds

AH Macro UCITS Index

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2021 -0.4 -0.4
2020 -0.2 -1.4 -5.8 1.5 2.0 0.6 0.8 1.0 -0.7 0.0 2.4 1.1 1.0
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 8.0
JK Global Opportunities Fund Opportunistic 6.6
KLS Arete Macro Opportunistic 5.2
U Access (IRL) Trend Macro Opportunistic 4.7
Quantitative Fixed Income Macro UCITS Systematic 4.5
Graham Macro UCITS Opportunistic 4.5
PGIM QMAW Keynes Systematic Absolute Return Systematic 4.4
H2O MultiReturns Opportunistic 4.2
Invesco Macro Allocation Strategy Systematic 3.4
ADG Systematic Macro Systematic 3.4

Bottom Funds YTD

YTD
Legg Mason Western Asset Macro Opportunit... Opportunistic -6.8
IPM Systematic Macro UCITS Systematic -4.3
Aspect Systematic Global Macro Systematic -3.9
DMS P/E FX Strategy Fund Systematic -3.9
Aviva Investors Multi-Strategy Target Income Diversified -3.5
AXA World Funds - Chorus Systematic Macro Systematic -3.3
M&G (Lux) Episode Macro Fund Opportunistic -2.1
Anima Global Macro Diversified -2.0
Lemanik SICAV Global Strategy Opportunistic -1.8
Aviva Investors Multi-Strategy Target Return Diversified -1.7

Largest New Launches (12M)

AUM
PrivilEdge - Graham Quant Macro £43m

Strategy AUM

31 December 2020
£42.3b -17% YOY

Largest Funds

AUM
Invesco Global Targeted Returns £6.2b
Legg Mason Western Asset Macro ... £5.4b
JPM Global Macro Opportunities (... £4.3b
ASI Global Absolute Return Strat... £3.6b
Aviva Investors Multi-Strategy T... £3.4b

Largest Inflows (Q4'20 - Q4'19)

Change AUM
JPM Global Macro Opportunities (... £784m £4.3b
Graham Macro UCITS £245m £434m
Allianz Fixed Income Macro £241m £245m
KLS Arete Macro £210m £545m
JPM Global Macro Opportunities £197m £1.6b

Largest Outflows (Q4'20 - Q4'19)

Change AUM
Invesco Global Targeted Returns £-3,296m £6.2b
H2O Adagio £-1,785m £2.2b
ASI Global Absolute Return Strat... £-1,296m £3.6b
H2O Allegro £-884m £464m
Aviva Investors Multi-Strategy T... £-862m £3.4b

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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.