Find here the latest fund strategies we have added into our Selection Master List. We select funds based on their consistency to deliver superior performance results. Our performance analysis is always adjusted for risks, fees and relative to the fund’s peer group. We pay specific attention to the ability of a fund manager to mitigate the portfolio downside risk, hence generating net alpha mostly during difficult market conditions.
Global Loan Fund
Core portfolio invested in loans globally
- Actively managed portfolio investing into senior secured loans
- Issuers are mainly based in the North American and Europe
- Credit-intensive research in asset selection
- Focus on in-depth analysis of free cash flow generation, quality of management and capital structure
- Main source of alpha is coming from the credit selection supported by a strong investment philosophy and rigorous execution.
- One of the most experienced US and European loans investment managers.
- The fund might be suitable as a core allocation to global loan market.
- Slight overweight bias to the European loans to benefit of better opportunities and the team’s edge in credit analysis in the region.
- Currently the fund has 93% in floating rate.
- Average current yield: 4.9%
- Number of issuers ~280
Global High Yield Bond Fund
Core High Yield Debt Portfolio
- Same asset management company than the global loan fund (see above)
- Actively managed portfolio investing into high yielding bonds
- Bonds issued mainly by North American and European companies
- Two strong credit research teams based in the US and in the UK.
- Focus on in-depth analysis of free cash flow generation, quality of management and capital structure
- Main source of alpha is coming from the credit selection supported by a strong investment philosophy and rigorous execution.
- The fund might be suitable as a core allocation to global high yield market.
- As for the loans portfolio, slight overweight bias to the European loans to benefit of better inefficiencies opportunities and the team’s edge in credit analysis in the region.
- Current fund exposure to Europe is of 26% (vs 25% for benchmark)
- Average yield to worst: 5.99%
- Number of issuers ~125
- Average rating: B
- Secured/unsecured (%): 37/63
Global Equity Fund (thematic)
Global Large Cap Equity Portfolio
- Concentrated portfolio of 20 to 40 high quality global companies
- Focus on sustainable high return on operated capital employed from intangible assets such as brands
- The fund invests primarily in mega and large cap stocks with a moderate growth bias due to its investment philosophy
- Maintain structural exposure to consumer staples and related industries such as (personal care, large pharma, media, core IT ,…).
- One of the most impressive long-term track record in delivering robust outperformance vs the benchmark
- Low beta portfolio with attractive down-capture results and respectable records in up-capture
- Investment process and team quality are the main driver of long time success
- Fund is hovering around its full capacity due to its success.
European Large Cap Equity Fund
Core European Equity Portfolio
- Blend, opportunistic investment portfolio strategy
- High conviction portfolio of 50 to 70 stocks, active share of min. 80%
- Full bottom-up stock picking process driven by a proprietary factors model
- Disciplined and highly experienced investment team
- Well-resourced in terms of global and regional analysts
- Portfolio managers have reduced the exposure in mid-cap over the last 3 years
- Increase exposure to large cap and to cyclical for valuation purpose
- Best results in trending and relatively stable market conditions, mixed results in extreme market turmoil and at inflection points.
- Outperformed its benchmark each calendar year since the latest lead PM took over 5 years ago, by at least 5%, except in 2016.
- Consistency of the strategy through cycles over the last 5 years.
- Ranks in the top two deciles in our WSP ranking over 3 and 5 years and for each of the calendar years from 2012 to 2016