NAV per share, distributions not reinvested. The benchmark is a total-return index and includes reinvested income. In EUR, the currency of the share class shown. Fund history to 28.09.2026. Benchmark history to 28.09.2026. Past performance is not a reliable indicator of future results, and the value of investments can fall as well as rise.
Performance against the benchmark
1M
3M
6M
YTD
2025
2024
2023
1Y
3Y
5Y
Volatility
Sharpe R.
Max DD
FundISIN DE000A2AGM26, currency EUR, retail share class
0.26
1.28
2.13
2.13
7.87
6.79
16.24
5.03
7.25
3.51
4.03
1.08
-3.59
BenchmarkEUR 3-month deposit + 4%
0.53
1.56
3.09
4.08
6.38
7.96
7.47
6.16
7.06
6.22
–
–
–
Differencefund minus benchmark, in percentage points
-0.27
-0.28
-0.96
-1.95
1.50
-1.17
8.77
-1.13
0.19
-2.71
–
–
–
Within the list: OpenList — Alternatives
Compared with the alternative funds on OpenList — Alternatives (25 funds), each in the share class and currency its list shows. Returns are in each share class's own currency and are not converted.
This fund
Group median
Position
Return 1Y
5.03
9.40
22 of 25
Return 3Y p.a.
7.25
11.35
21 of 25
3Y p.a. over its own benchmark
0.19
2.46
19 of 25
Volatility 3Y
4.03
5.42
7 of 25
Sharpe ratio 3Y
1.08
1.34
18 of 25
Max drawdown 3Y
-3.59
-3.40
14 of 25
Management fee
1.77%
1.01%
23 of 23 (2 without a value)
Position 1 is the highest value, except for volatility and the management fee, where 1 is the lowest; for max drawdown, 1 is the smallest fall.
Return against risk, 3 years
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is designed as a flexible international mixed fund with a euro focus that aims to provide an attractive ongoing distribution while seeking value stability as independently as possible from market direction. It is structured as an actively managed UCITS and carries a PRIIPs summary risk indicator of 3 on a 1-7 scale, described as a medium-low risk class, with a recommended holding period of 3 years. The documents state it is intended for investors who already have some experience with financial markets and who are willing and able to accept price fluctuations and potentially significant capital losses. Based on its objective and implementation through multiple risk premia, long/short exposures and derivatives, it is a distinct diversifying allocation rather than a plain directional equity or bond holding.
Investment strategy
The stated objective is to achieve an attractive ongoing distribution together with value stability as independently as possible from market developments, with long-term capital preservation in the foreground. The fund may invest up to 100% each in exchange-listed or other regulated-market securities of all kinds, including equities, bonds, money market instruments and certificates, and it combines risk premia from equities, commodities excluding agriculture and livestock, currencies and interest rates. Derivatives such as options and futures may be used both for hedging and return enhancement, and the fund may hold long and short positions at the same time in order to benefit from both rising and falling prices of underlying assets. Cash not needed for margin or option premium payments may be invested in bonds or money market instruments; the fund is not managed against a benchmark, distributes income, and the recommended holding period is 3 years.
Investment philosophy
• The portfolio is built as a flexible international mixed fund with a euro focus and can invest in listed or otherwise regulated-market securities across equities, bonds, money market instruments and certificates.
• The investment approach combines different risk premia from equities, commodities excluding agriculture and livestock, currencies and interest rates.
• Derivatives including options and futures are used both for hedging and for return optimisation, with long-term capital preservation explicitly stated as a priority.
• The fund can profit from both rising and falling markets through derivatives and may hold long and short positions simultaneously.
• Liquidity not required for collateral or premium payments on derivative positions can be allocated to bonds or money market instruments.
The asset manager
The management company is Universal-Investment-Gesellschaft mbH, based at Europa-Allee 92-96, 60486 Frankfurt am Main, Germany. The PRIIPs document states that the manufacturer is Universal-Investment-Gesellschaft mbH and that it belongs to the Universal-Investment Group. The fund partner and adviser is Portfolio Advice GmbH, based in Oberursel, which the documents describe as an owner-managed company specialising in independent advice on capital market products for professional investors. Portfolio Advice is identified as the initiator and adviser of the Absolute Return Multi Premium Fonds with a focus on empirical risk premia.
Strengths
A distinguishing feature is the fund’s explicit combination of multiple empirical risk premia across equities, commodities, currencies and rates within a single UCITS mixed-fund structure. The strategy is designed to seek stable returns independently of market direction and is able to hold both long and short positions at the same time, rather than relying only on long-only market exposure. Its mandate is broad, allowing up to 100% investment in listed securities of various types while also using derivatives for both hedging and return enhancement. The fund also targets ongoing distributions and has a euro focus, which differentiates it from directional global multi-asset funds without an absolute-return orientation.
Risks
The PRIIPs document classifies the fund in risk class 3 out of 7, described as medium-low risk, while also stating that investors must be prepared for price fluctuations and potentially significant capital losses. The report repeatedly highlights elevated volatility risk arising from the fund’s composition and the techniques used by management, noting that unit prices can fluctuate strongly upward or downward even over short periods. Market risk is embedded in the strategy because it invests across equities, bonds, money market instruments, certificates, commodities-related risk premia, currencies and interest rates, and can take both long and short exposures. Derivative use for hedging and return enhancement, together with the ability to hold simultaneous long and short positions and to invest cash for collateral purposes in bonds or money market instruments, is a central structural driver of the fund’s risk profile.
WSP report
Ask WSP which research is available for this fund and what it covers.
Performance: in %, in the currency of the share class shown. 3Y and 5Y are annualised. Volatility and Sharpe ratio are over three years; Max DD is the largest fall over three years. Benchmark: each fund is measured against the index its own documents name. Where WSP measures a fund against a comparator of its own instead, the row names it: a tracker or a blend of the markets the fund invests in, or a cash-plus hurdle – means not applicable. "Not available in this publication" means no value is shown here; it does not mean zero. Period figures as of 31.08.2026.
This page is advertising within the meaning of the Swiss Financial Services Act. It is not an offer, a recommendation or investment advice. The prospectus and key information document for any fund shown may be obtained free of charge from its management company or Swiss representative
WSP commentary
Draft commentary, machine-generated from the fund's monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is designed as a flexible international mixed fund with a euro focus that aims to provide an attractive ongoing distribution while seeking value stability as independently as possible from market direction. It is structured as an actively managed UCITS and carries a PRIIPs summary risk indicator of 3 on a 1-7 scale, described as a medium-low risk class, with a recommended holding period of 3 years. The documents state it is intended for investors who already have some experience with financial markets and who are willing and able to accept price fluctuations and potentially significant capital losses. Based on its objective and implementation through multiple risk premia, long/short exposures and derivatives, it is a distinct diversifying allocation rather than a plain directional equity or bond holding.
Investment strategy
The stated objective is to achieve an attractive ongoing distribution together with value stability as independently as possible from market developments, with long-term capital preservation in the foreground. The fund may invest up to 100% each in exchange-listed or other regulated-market securities of all kinds, including equities, bonds, money market instruments and certificates, and it combines risk premia from equities, commodities excluding agriculture and livestock, currencies and interest rates. Derivatives such as options and futures may be used both for hedging and return enhancement, and the fund may hold long and short positions at the same time in order to benefit from both rising and falling prices of underlying assets. Cash not needed for margin or option premium payments may be invested in bonds or money market instruments; the fund is not managed against a benchmark, distributes income, and the recommended holding period is 3 years.
Investment philosophy
• The portfolio is built as a flexible international mixed fund with a euro focus and can invest in listed or otherwise regulated-market securities across equities, bonds, money market instruments and certificates.
• The investment approach combines different risk premia from equities, commodities excluding agriculture and livestock, currencies and interest rates.
• Derivatives including options and futures are used both for hedging and for return optimisation, with long-term capital preservation explicitly stated as a priority.
• The fund can profit from both rising and falling markets through derivatives and may hold long and short positions simultaneously.
• Liquidity not required for collateral or premium payments on derivative positions can be allocated to bonds or money market instruments.
The asset manager
The management company is Universal-Investment-Gesellschaft mbH, based at Europa-Allee 92-96, 60486 Frankfurt am Main, Germany. The PRIIPs document states that the manufacturer is Universal-Investment-Gesellschaft mbH and that it belongs to the Universal-Investment Group. The fund partner and adviser is Portfolio Advice GmbH, based in Oberursel, which the documents describe as an owner-managed company specialising in independent advice on capital market products for professional investors. Portfolio Advice is identified as the initiator and adviser of the Absolute Return Multi Premium Fonds with a focus on empirical risk premia.
Strengths
A distinguishing feature is the fund’s explicit combination of multiple empirical risk premia across equities, commodities, currencies and rates within a single UCITS mixed-fund structure. The strategy is designed to seek stable returns independently of market direction and is able to hold both long and short positions at the same time, rather than relying only on long-only market exposure. Its mandate is broad, allowing up to 100% investment in listed securities of various types while also using derivatives for both hedging and return enhancement. The fund also targets ongoing distributions and has a euro focus, which differentiates it from directional global multi-asset funds without an absolute-return orientation.
Risks
The PRIIPs document classifies the fund in risk class 3 out of 7, described as medium-low risk, while also stating that investors must be prepared for price fluctuations and potentially significant capital losses. The report repeatedly highlights elevated volatility risk arising from the fund’s composition and the techniques used by management, noting that unit prices can fluctuate strongly upward or downward even over short periods. Market risk is embedded in the strategy because it invests across equities, bonds, money market instruments, certificates, commodities-related risk premia, currencies and interest rates, and can take both long and short exposures. Derivative use for hedging and return enhancement, together with the ability to hold simultaneous long and short positions and to invest cash for collateral purposes in bonds or money market instruments, is a central structural driver of the fund’s risk profile.