Total return: distributions reinvested. In USD, 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 LU1725199621, currency USD, retail share class
-0.55
-3.68
-1.02
4.15
22.48
43.12
23.61
14.09
23.65
13.92
11.58
1.52
-8.93
BenchmarkS&P 500 NR USD
2.69
1.60
12.18
12.88
17.43
24.50
25.67
19.96
20.57
12.31
12.93
1.17
-7.59
Differencefund minus benchmark, in percentage points
-3.24
-5.28
-13.20
-8.73
5.05
18.61
-2.06
-5.87
3.08
1.61
–
–
–
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
14.09
9.40
7 of 25
Return 3Y p.a.
23.65
11.35
1 of 25
3Y p.a. over its own benchmark
3.08
2.46
12 of 25
Volatility 3Y
11.58
5.42
25 of 25
Sharpe ratio 3Y
1.52
1.34
5 of 25
Max drawdown 3Y
-8.93
-3.40
25 of 25
Management fee
1.25%
1.01%
16 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 to provide a positive return in excess of the Secured Overnight Financing Rate (SOFR) after fees over a three-year period through global equity investing, including emerging markets, using both long and short positions. It carries a Summary Risk Indicator of 4 out of 7 and the Key Information Document states investors should be prepared to remain invested for at least 3 years. The intended investor is a retail investor with basic investment knowledge who is more focused on maximising long-term returns than minimising short-term losses and who can bear large short-term losses. Given its sector focus on technology, media and telecommunications and its ability to run net short, use leverage and derivatives extensively, it is a distinct, specialist allocation rather than a broad market holding.
Investment strategy
The fund aims to provide a positive return after fees over a three-year period by investing in equities worldwide, including emerging markets, with the KID stating the target is to exceed SOFR after fees over that period. It is actively managed and invests in long and short equity positions, primarily in companies in or connected to the technology, media and telecommunications sectors, while also being able to invest in other equities; it invests directly in physical holdings and indirectly through derivatives, may use leverage, may invest up to 10% in open-ended investment funds, and may exceptionally hold up to 100% in cash. The target benchmark is SOFR, while the comparator benchmark is the S&P 500 NR and is used for performance comparison only; the manager invests on a discretionary basis with no restrictions on deviation from the comparator benchmark. The share class is USD-denominated, deals daily, settles T+3, accumulates income rather than distributing it, and the recommended holding period in the KID is 3 years.
Investment philosophy
• The fund invests globally in equities, including emerging markets, and focuses on companies in or connected to the technology, media and telecommunications sectors, while retaining the flexibility to invest in other equities.
• Portfolio construction combines physical holdings and derivatives, with both long and short positions; when these are combined the fund may be net long or net short, and derivatives may be used extensively for investment gains, risk reduction or efficiency.
• Current exposure shows 95.7% equity long and -101.1% equity short, producing net exposure of -5.4% and gross exposure of 196.8%.
• Sector positioning is expressed through both long and short books: net exposures include Software -9.3%, Internet 13.6%, Other -14.1%, Enterprise Tech -15.9%, Business services -19.2%, Semis 15.2%, Media/Telco 1.8%, Fin Tech -1.6% and Video Game Software -11.2%.
• The largest disclosed long positions are Block (9.7%), Trimble (7.0%), Taiwan Semiconductor Manufacturing (4.7%), Wayfair (4.6%), Alphabet (4.5%), Eaton (4.4%), Lyft (4.2%), Iron Mountain (4.2%), Ferrari (4.0%) and AUTO1 Group (3.7%); the fund may invest up to 10% in open-ended funds and may exceptionally hold up to 100% in cash.
Management team
The named fund manager is David Meyer of Contour Asset Management. The factsheet states he has managed the fund since 20.12.2017, which is also the fund and share class launch date.
The asset manager
The management company is Schroder Investment Management (Europe) S.A., a member of the Schroders Group, and it is authorised in Luxembourg and regulated by the CSSF. The fund manager named in the factsheet is David Meyer of Contour Asset Management. The fund is domiciled in Luxembourg and is structured as an open-ended UCITS sub-fund of Schroder GAIA. Contact details in the report also name Schroder Investment Management (Switzerland) AG as Swiss representative.
Strengths
The fund combines a specialist technology, media and telecommunications equity remit with the flexibility to invest globally, including in emerging markets, and to run both long and short books. Its structure allows extensive derivative use, leverage, and the ability to be either net long or net short, which is reflected in the current negative net exposure and high gross exposure. It is daily dealing and the share class is accumulating, while performance is measured against a cash-rate hurdle of SOFR rather than an equity index target. The portfolio also shows differentiated implementation through sizable single-stock long positions such as Block, Trimble and Taiwan Semiconductor Manufacturing and through named sector short exposure.
Risks
The fund is classified as risk category 4 out of 7 in the KID, described there as a medium risk class, and the factsheet notes the category is based on historical performance data and may change. Named risks include concentration risk, counterparty risk, currency risk, derivatives risk, liquidity risk, market risk, operational risk and performance risk. These risks are linked to the fund’s structure and positioning because it can concentrate in limited regions, sectors, markets or positions; invest globally including emerging markets; use derivatives extensively on both the long and short side; use leverage; and invest through counterparties. The report also states the fund does not have the objective of sustainable investment or binding environmental or social characteristics under SFDR.
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 monthly factsheet dated 31.08.2026; key information document (PRIIPs), not yet reviewed by WSP.
Investment rationale
The fund is designed to provide a positive return in excess of the Secured Overnight Financing Rate (SOFR) after fees over a three-year period through global equity investing, including emerging markets, using both long and short positions. It carries a Summary Risk Indicator of 4 out of 7 and the Key Information Document states investors should be prepared to remain invested for at least 3 years. The intended investor is a retail investor with basic investment knowledge who is more focused on maximising long-term returns than minimising short-term losses and who can bear large short-term losses. Given its sector focus on technology, media and telecommunications and its ability to run net short, use leverage and derivatives extensively, it is a distinct, specialist allocation rather than a broad market holding.
Investment strategy
The fund aims to provide a positive return after fees over a three-year period by investing in equities worldwide, including emerging markets, with the KID stating the target is to exceed SOFR after fees over that period. It is actively managed and invests in long and short equity positions, primarily in companies in or connected to the technology, media and telecommunications sectors, while also being able to invest in other equities; it invests directly in physical holdings and indirectly through derivatives, may use leverage, may invest up to 10% in open-ended investment funds, and may exceptionally hold up to 100% in cash. The target benchmark is SOFR, while the comparator benchmark is the S&P 500 NR and is used for performance comparison only; the manager invests on a discretionary basis with no restrictions on deviation from the comparator benchmark. The share class is USD-denominated, deals daily, settles T+3, accumulates income rather than distributing it, and the recommended holding period in the KID is 3 years.
Investment philosophy
• The fund invests globally in equities, including emerging markets, and focuses on companies in or connected to the technology, media and telecommunications sectors, while retaining the flexibility to invest in other equities.
• Portfolio construction combines physical holdings and derivatives, with both long and short positions; when these are combined the fund may be net long or net short, and derivatives may be used extensively for investment gains, risk reduction or efficiency.
• Current exposure shows 95.7% equity long and -101.1% equity short, producing net exposure of -5.4% and gross exposure of 196.8%.
• Sector positioning is expressed through both long and short books: net exposures include Software -9.3%, Internet 13.6%, Other -14.1%, Enterprise Tech -15.9%, Business services -19.2%, Semis 15.2%, Media/Telco 1.8%, Fin Tech -1.6% and Video Game Software -11.2%.
• The largest disclosed long positions are Block (9.7%), Trimble (7.0%), Taiwan Semiconductor Manufacturing (4.7%), Wayfair (4.6%), Alphabet (4.5%), Eaton (4.4%), Lyft (4.2%), Iron Mountain (4.2%), Ferrari (4.0%) and AUTO1 Group (3.7%); the fund may invest up to 10% in open-ended funds and may exceptionally hold up to 100% in cash.
Management team
The named fund manager is David Meyer of Contour Asset Management. The factsheet states he has managed the fund since 20.12.2017, which is also the fund and share class launch date.
The asset manager
The management company is Schroder Investment Management (Europe) S.A., a member of the Schroders Group, and it is authorised in Luxembourg and regulated by the CSSF. The fund manager named in the factsheet is David Meyer of Contour Asset Management. The fund is domiciled in Luxembourg and is structured as an open-ended UCITS sub-fund of Schroder GAIA. Contact details in the report also name Schroder Investment Management (Switzerland) AG as Swiss representative.
Strengths
The fund combines a specialist technology, media and telecommunications equity remit with the flexibility to invest globally, including in emerging markets, and to run both long and short books. Its structure allows extensive derivative use, leverage, and the ability to be either net long or net short, which is reflected in the current negative net exposure and high gross exposure. It is daily dealing and the share class is accumulating, while performance is measured against a cash-rate hurdle of SOFR rather than an equity index target. The portfolio also shows differentiated implementation through sizable single-stock long positions such as Block, Trimble and Taiwan Semiconductor Manufacturing and through named sector short exposure.
Risks
The fund is classified as risk category 4 out of 7 in the KID, described there as a medium risk class, and the factsheet notes the category is based on historical performance data and may change. Named risks include concentration risk, counterparty risk, currency risk, derivatives risk, liquidity risk, market risk, operational risk and performance risk. These risks are linked to the fund’s structure and positioning because it can concentrate in limited regions, sectors, markets or positions; invest globally including emerging markets; use derivatives extensively on both the long and short side; use leverage; and invest through counterparties. The report also states the fund does not have the objective of sustainable investment or binding environmental or social characteristics under SFDR.