Figures refer to the share class ISIN FR0012034783, currency EUR, retail share class.
Fund documents
For the share class shown above.
Factsheet: not publicly available (not found in the public sources checked).
KID: not publicly available (not found in the public sources checked).
Key facts
Management company
Sanso Longchamp AM
Asset class
Alternative
Geography
Global
Strategy
Multi-Strategy
Share class currency
EUR
Share class inception
26.09.2014
Fund size
70 million (as at 04.09.2026)
Management fee
Not available in this publication
Performance fee
Yes
Liquidity
Not available in this publication
UCITS
Yes
Risk grade (SRRI)
Not available in this publication
Registered in Switzerland
No (qualified investors only)
Price history
Fund and benchmark rebased to 100 at 30.09.2021.
Table view
Period
From
Fund (100 at start)
Benchmark (100 at start)
1Y
19.09.2025
116.6
103.0
3Y
29.09.2023
151.2
112.2
5Y
30.09.2021
167.0
117.0
Since 2014
25.10.2019
179.6
118.2
Total return: distributions reinvested. In EUR, the currency of the share class shown. Fund history to 18.09.2026. Benchmark history to 18.09.2026. 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 FR0012034783, currency EUR, retail share class
3.68
2.64
4.10
10.41
18.23
13.17
11.75
19.20
15.13
11.23
8.07
1.45
-7.86
Benchmark€STR capitalisé + 1.085%
0.28
0.82
1.59
2.08
3.32
4.85
4.39
3.12
3.98
3.17
–
–
–
Differencefund minus benchmark, in percentage points
3.40
1.82
2.51
8.33
14.91
8.31
7.36
16.08
11.15
8.06
–
–
–
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
19.20
9.40
4 of 25
Return 3Y p.a.
15.13
11.35
2 of 25
3Y p.a. over its own benchmark
11.15
2.46
2 of 25
Volatility 3Y
8.07
5.42
22 of 25
Sharpe ratio 3Y
1.45
1.34
8 of 25
Max drawdown 3Y
-7.86
-3.40
24 of 25
Management fee
Not available in this publication
1.01%
No value for this fund (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 fund document, not yet reviewed by WSP.
Investment rationale
LONGCHAMP PATRIMOINE FUND is a French UCITS FCP designed to deliver a regular return stream that is intended to be weakly correlated with traditional asset classes through discretionary multi-strategy fund selection. Its stated objective is to outperform capitalised €STR + 1.085% net of fees over a recommended minimum investment horizon of more than five years, which positions it as a diversification or satellite allocation rather than a plain-vanilla core equity or bond holding. The fund is aimed at investors seeking a low-correlation investment profile and regular performance over time; share classes are split between employees of Sanso Longchamp Asset Management (S), institutional and larger private investors (I), and all subscribers (A). What makes it distinct is its focus on allocating mainly to absolute-return OPCs across equity, rates, convertible arbitrage, merger arbitrage, special situations, quantitative trading and global macro strategies.
Investment strategy
The fund’s objective is to achieve, through discretionary management, an annualised net performance above capitalised €STR + 1.085% for share classes S, I and A over a recommended minimum holding period of five years. It can invest up to 100% of net assets in French or foreign UCITS and up to 30% in eligible European AIFs open to non-professional clients; strategy buckets include equities (0%-60%), rates (0%-60%), convertible bond arbitrage (0%-40%), merger arbitrage and special situations (0%-30%), quantitative trading (0%-20%) and global macro (0%-20%). Direct holdings may also include ETFs up to 20%, OECD-member equities up to 15%, EMTN/BMTN/warrants up to 35%, subordinated securities including AT1/CoCos up to 20%, government bonds of OECD countries up to 100%, corporate bonds up to 20%, convertibles up to 20%, and money-market/short-term debt instruments up to 100%; interest-rate sensitivity is targeted between 0 and 5 and non-euro currency exposure is capped at 30%. The benchmark is capitalised €STR + 1.085%, used as a reference rather than for index tracking, so performance may diverge materially; the fund has no direct derivative positions but may use embedded derivatives for exposure, hedging or arbitrage, with hedging applied discretionarily. All distributable income and realised gains are fully capitalised for all share classes, and the fund is valued weekly on Friday closing prices plus an additional month-end NAV.
Investment philosophy
• The investment universe is primarily a selection of French or foreign OPCs, including up to 30% in eligible European AIFs, with the portfolio mainly allocated to absolute-return funds spanning equity, rates, convertible arbitrage, merger arbitrage, special situations, quantitative trading and global macro.
• Portfolio construction combines a top-down macro approach—covering growth expectations, industry and geographic themes, and identification of the most promising strategies in the prevailing market context—with a bottom-up review of management companies and funds.
• Bottom-up due diligence focuses on the management firm’s strengths and weaknesses, strategic positioning, team quality and experience, fee structure, quality of track record, assets under management, operational robustness and risk management quality; the manager may also seek seeding opportunities and/or negotiate fees.
• Allocation changes are intended to be more strategic than tactical and usually gradual; each underlying fund is capped at 20% of the portfolio, and the manager seeks to keep annualised historical NAV volatility below 6% over the recommended holding period by adjusting total look-through exposure.
• The fund is monitored daily for risk and may temporarily shift more substantially into OECD sovereign or bond-market instruments rated at least BBB at purchase, according to the management company’s analysis, in order to manage volatility constraints and periods of market stress.
The asset manager
The fund is managed by Sanso Longchamp Asset Management, a management company authorised by the AMF on 19/10/2011 under approval number GP-11000033. Its registered office is at 17 rue de Chaillot, 75116 Paris. The prospectus identifies Sanso Longchamp Asset Management as the management company and distributor, and also notes that the fund may invest in OPCs managed by Sanso Longchamp or a related company.
Strengths
A distinguishing feature of the fund is its explicit multi-strategy absolute-return architecture, implemented mainly through specialist underlying funds rather than through direct long-only exposure to traditional asset classes. The prospectus sets detailed exposure bands across several hedge-fund-like strategy families, while also capping any single underlying OPC at 20% and targeting annualised historical NAV volatility below 6% over the recommended horizon. Structurally, the fund combines this broad strategy set with additional flexibility to hold ETFs, OECD equities, convertibles, subordinated debt and structured instruments such as EMTNs, BMTNs and warrants. It also includes liquidity management tools—gates above a 10% net redemption threshold and swing pricing with a trigger threshold—to protect remaining unitholders during significant flows.
Risks
The prospectus names capital loss risk, discretionary management risk, equity market risk, small-cap risk, emerging-market risk, interest-rate risk, credit risk, high-yield/speculative securities risk, currency risk, liquidity risk, derivatives risk, AT1/subordinated securities risk, convertible bond risk and sustainability risk. These risks stem from the fund’s ability to allocate across equity, rates and alternative strategy funds worldwide, including emerging markets and small caps, and from direct holdings in corporate bonds, convertibles, subordinated debt including AT1/CoCos, ETFs and structured instruments such as EMTNs, BMTNs and warrants. Currency risk may arise from up to 30% exposure to non-euro currencies, while rate risk is framed by a sensitivity band of 0 to 5; liquidity risk may also be amplified by certain less liquid instruments or underlying strategies. The fund is not classified under SFDR Article 8 or 9, does not integrate sustainability factors systematically into investment decisions, and the prospectus states that underlying investments do not take account of EU Taxonomy criteria for environmentally sustainable activities.
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. – 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 fund document, not yet reviewed by WSP.
Investment rationale
LONGCHAMP PATRIMOINE FUND is a French UCITS FCP designed to deliver a regular return stream that is intended to be weakly correlated with traditional asset classes through discretionary multi-strategy fund selection. Its stated objective is to outperform capitalised €STR + 1.085% net of fees over a recommended minimum investment horizon of more than five years, which positions it as a diversification or satellite allocation rather than a plain-vanilla core equity or bond holding. The fund is aimed at investors seeking a low-correlation investment profile and regular performance over time; share classes are split between employees of Sanso Longchamp Asset Management (S), institutional and larger private investors (I), and all subscribers (A). What makes it distinct is its focus on allocating mainly to absolute-return OPCs across equity, rates, convertible arbitrage, merger arbitrage, special situations, quantitative trading and global macro strategies.
Investment strategy
The fund’s objective is to achieve, through discretionary management, an annualised net performance above capitalised €STR + 1.085% for share classes S, I and A over a recommended minimum holding period of five years. It can invest up to 100% of net assets in French or foreign UCITS and up to 30% in eligible European AIFs open to non-professional clients; strategy buckets include equities (0%-60%), rates (0%-60%), convertible bond arbitrage (0%-40%), merger arbitrage and special situations (0%-30%), quantitative trading (0%-20%) and global macro (0%-20%). Direct holdings may also include ETFs up to 20%, OECD-member equities up to 15%, EMTN/BMTN/warrants up to 35%, subordinated securities including AT1/CoCos up to 20%, government bonds of OECD countries up to 100%, corporate bonds up to 20%, convertibles up to 20%, and money-market/short-term debt instruments up to 100%; interest-rate sensitivity is targeted between 0 and 5 and non-euro currency exposure is capped at 30%. The benchmark is capitalised €STR + 1.085%, used as a reference rather than for index tracking, so performance may diverge materially; the fund has no direct derivative positions but may use embedded derivatives for exposure, hedging or arbitrage, with hedging applied discretionarily. All distributable income and realised gains are fully capitalised for all share classes, and the fund is valued weekly on Friday closing prices plus an additional month-end NAV.
Investment philosophy
• The investment universe is primarily a selection of French or foreign OPCs, including up to 30% in eligible European AIFs, with the portfolio mainly allocated to absolute-return funds spanning equity, rates, convertible arbitrage, merger arbitrage, special situations, quantitative trading and global macro.
• Portfolio construction combines a top-down macro approach—covering growth expectations, industry and geographic themes, and identification of the most promising strategies in the prevailing market context—with a bottom-up review of management companies and funds.
• Bottom-up due diligence focuses on the management firm’s strengths and weaknesses, strategic positioning, team quality and experience, fee structure, quality of track record, assets under management, operational robustness and risk management quality; the manager may also seek seeding opportunities and/or negotiate fees.
• Allocation changes are intended to be more strategic than tactical and usually gradual; each underlying fund is capped at 20% of the portfolio, and the manager seeks to keep annualised historical NAV volatility below 6% over the recommended holding period by adjusting total look-through exposure.
• The fund is monitored daily for risk and may temporarily shift more substantially into OECD sovereign or bond-market instruments rated at least BBB at purchase, according to the management company’s analysis, in order to manage volatility constraints and periods of market stress.
The asset manager
The fund is managed by Sanso Longchamp Asset Management, a management company authorised by the AMF on 19/10/2011 under approval number GP-11000033. Its registered office is at 17 rue de Chaillot, 75116 Paris. The prospectus identifies Sanso Longchamp Asset Management as the management company and distributor, and also notes that the fund may invest in OPCs managed by Sanso Longchamp or a related company.
Strengths
A distinguishing feature of the fund is its explicit multi-strategy absolute-return architecture, implemented mainly through specialist underlying funds rather than through direct long-only exposure to traditional asset classes. The prospectus sets detailed exposure bands across several hedge-fund-like strategy families, while also capping any single underlying OPC at 20% and targeting annualised historical NAV volatility below 6% over the recommended horizon. Structurally, the fund combines this broad strategy set with additional flexibility to hold ETFs, OECD equities, convertibles, subordinated debt and structured instruments such as EMTNs, BMTNs and warrants. It also includes liquidity management tools—gates above a 10% net redemption threshold and swing pricing with a trigger threshold—to protect remaining unitholders during significant flows.
Risks
The prospectus names capital loss risk, discretionary management risk, equity market risk, small-cap risk, emerging-market risk, interest-rate risk, credit risk, high-yield/speculative securities risk, currency risk, liquidity risk, derivatives risk, AT1/subordinated securities risk, convertible bond risk and sustainability risk. These risks stem from the fund’s ability to allocate across equity, rates and alternative strategy funds worldwide, including emerging markets and small caps, and from direct holdings in corporate bonds, convertibles, subordinated debt including AT1/CoCos, ETFs and structured instruments such as EMTNs, BMTNs and warrants. Currency risk may arise from up to 30% exposure to non-euro currencies, while rate risk is framed by a sensitivity band of 0 to 5; liquidity risk may also be amplified by certain less liquid instruments or underlying strategies. The fund is not classified under SFDR Article 8 or 9, does not integrate sustainability factors systematically into investment decisions, and the prospectus states that underlying investments do not take account of EU Taxonomy criteria for environmentally sustainable activities.