Japanese Small Caps: a proven source of alpha

It is a burning question for most investors today: where can they find the more alpha and why should they keep investing in actively managed funds? In a world of scarce alpha for active management, Japanese small caps managers exhibit among the best results in outperforming their own benchmark and the Topix Index relative [...]

A Top performing fund in US High Dividend universe

We are starting the coverage on a US dividend strategy that did not yet reached the three years’ track record since inception but with impressive relative performance. The fund exhibits one of the best risk-reward profile in the US Large Cap universe.  The Portfolio Manager is highly experienced in US dividend investing. He has [...]

Senior Loans the most attractive profile in the European Credit universe

We recently received many visits of asset managers presenting Senior Secured Loans strategies. The asset under management of Loan funds are constantly growing, showing the investors strong appetite for fixed income products without duration sensitivity and still offering an attractive carry. Within the asset class, we are particularly interested by a strategy managed by [...]

MLPs: The last high-dividend sector with reasonable valuations

North-American mid-stream energy companies known as Master Limited Partnership (MLPs) generate at least 90% of their revenues from pipelines and other infrastructure assets for processing and transportation of crude oil, natural gas and natural gas liquids. Since MLPs generate most their revenues via fee-based contracts which are usually capacity- and not price-driven, they have [...]

Investing in CHF bond market with an expected return of 4%

Investors having the Swiss Franc as a based currency are struggling to find positive yields in the domestic bond market. The safest bonds in the Swiss market have negative yields up to 15 years of maturity. In this context, we have been attracted by a fund portfolio investing into the CHF bond market with [...]

The challenges of alternative risk premia funds

The well-documented research of traditional factor investing is now extending to the alternative long/short risk premia. There is a growing interest among sophisticated investors to access liquid, low volatility, absolute return strategies and uncorrelated with traditional asset classes. Hedge funds have been pioneers in this area, but the first alternative premia funds were only [...]

Investing in options to achieve an absolute return objective

In the universe of Alternative UCITS funds, we have met the managers of an absolute return strategy investing in the options market to generate steady returns. The strategy is structured to generate returns uncorrelated to the underlying equity market regime. By construction the portfolio is long and short volatility at the same time, allowing [...]

Global Macro strategy with no regional bias

We found an interesting strategy to invest in the sovereign debt, rates and currencies with a large scope and a distinctive approach to main peers. The fund is a Macro UCITS strategy, highly liquid which invests across both EM and DM credit (G10), interest rates and FX.  The strategy aims to deliver uncorrelated alpha but [...]

Is the US structured credit an answer to rising rates?

We follow a UCITs vehicle launched under an Irish umbrella invested in US structured credit and low duration assets. The fund implements an active and flexible approach and gives access to the US structured credit markets: RMBS, CMBS, ABS and CLOs. Historically the focus of the strategy is on legacy Non-Agency RMBS and CMBS, for [...]