Prosper Plurimi World Long Short Equity

Investment rationale

The fund is designed to increase the value of an investment over the medium term through a global long/short equity approach. The share class is available to retail investors with basic financial knowledge and to professional investors who meet the share-class criteria; the fund is not approved by FINMA for public retail distribution in Switzerland. It is intended for investors seeking medium-term growth who have a high tolerance for risk and can withstand a substantial loss. It can be used for exposure to global equity markets either as a core investment or for diversification purposes, with a recommended holding period of 4 years. Its distinct feature is a long/short portfolio built from attractive global stocks on the long side and lower-quality stocks on the short side, using AI and machine learning in the selection process.

2026-06-30

How the strategy works

The objective is to increase the value of the investment over the medium term and to aim for capital appreciation. Under normal market conditions, the sub-fund invests in large-cap global equities, including emerging markets, either directly in equities or indirectly through derivatives; it may also make significant investments in short-term bonds for liquid assets. The fund invests in 30 attractive global stocks and shorts 30 lower-quality ones, with regional and style allocation focused on value, quality and momentum stocks. The fund is managed without reference to an index. Comparative benchmark references include the Free Float Capitalisation Weighted World Equity Index and World Equity BM*50%. Shares are accumulation shares, the base currency is USD, dealing is daily on Luxembourg business days, derivatives may be used to hedge against market fluctuations, reduce costs or generate additional revenue, and the recommended holding period is 4 years.

2026-06-30

Investment philosophy

• The portfolio is built from a global equity universe, including emerging markets under normal market conditions, with a focus on large-cap stocks and the ability to use both direct equity positions and derivatives.

• Stock selection is driven by AI and machine learning to eliminate human biases, while the final portfolio construction is discretionary.

• The manager seeks long positions in companies it believes have above-market growth potential and short positions in companies it considers overvalued or with unfavourable growth prospects; the strategy specifies 30 long positions and 30 short positions.

• Regional and style allocation is focused on value, quality and momentum stocks; at the reported date, the portfolio had notable net exposure to Information Technology, Health Care and Industrials, with North America the largest regional net allocation.

2026-06-30

Management team

The fund managers are Patrick Armstrong, CFA, and Eugen Fostiak of Plurimi Wealth. The managers have more than 20 years of collaboration.

2026-06-30

Distinctive features

A distinguishing feature is the combination of AI- and machine-learning-driven security selection with discretionary portfolio construction. The fund offers a global long/short equity structure, including emerging markets, with both long and short books and the use of derivatives and short-term bonds as part of implementation. It is structured as a Luxembourg UCITS V SICAV with daily dealing and multiple share classes in USD, EUR, GBP and CHF. The fund has a focused portfolio structure with 30 longs and 30 shorts and specific style tilts toward value, quality and momentum.

2026-06-30

Risks

The fund has a risk indicator of 3 out of 7 and a recommended holding period of at least 4 years. Equity investments have higher volatility and risk than bonds and money market instruments, and the long/short strategy is aimed at reducing the volatility of returns and the level of risk, although positions may still lead to capital losses. Additional risks named include currency risk when an investor's base currency differs from the share class currency, as well as counterparty, liquidity and operational risks, which may be magnified by unusual market conditions or unforeseeable events. The use of derivatives for hedging, cost reduction and additional revenue generation is part of the structure, and the ESG approach is Article 6 with no systematic integration of environmental, social and governance factors; the manager may invest in issuers with a low ESG profile.

2026-06-30

Asset manager

The management company is CA Indosuez Fund Solutions S.A., a subsidiary of CA Indosuez Wealth (Europe), and the investment manager/fund manager is Plurimi Wealth LLP. The fund is a sub-fund of PROSPER FUNDS SICAV, a Luxembourg SICAV UCITS V, and the custodian bank is CACEIS Bank, Luxembourg Branch. Fund assets were USD 121 million.

2026-06-30

Performance commentary

In June 2026, the manager described equity markets as volatile. On the long side, the main themes cited were continued investor support for beneficiaries of the AI infrastructure cycle, strong demand for advanced semiconductor manufacturing equipment, confidence in long-term wafer fabrication demand, and power infrastructure demand linked to data-centre investment and grid modernisation. The manager also cited support from defensive rotation into healthcare, as well as stock-specific effects from falling fuel prices, improving travel outlook, tariff-hit construction machinery, a strong JPY, sector-wide profit-taking in European defence, easing geopolitical concerns and softer gold prices. On the short book, the manager attributed gains mainly to weakness in technology and AI-related names as investors questioned the sustainability and timing of hyperscaler AI infrastructure spending, while airline shorts were hurt by a rebound after the Iran-Israel ceasefire lowered oil prices and improved the outlook for fuel costs and summer travel demand.

2026-06-30