5 fund managers who delivered alpha

Their latest comments and positioning

Dear Customers,

Our duty is to keep you updated with the most recent information from our selected Asset Managers regarding their views on current and future market conditions, as well as their current positioning and portfolio activity.

In these difficult period, we will try to communicate as regularly as possible whenever we deem it is relevant and insightful for you and your clients. We strive to be as close to you as possible by giving you this update.

Do let us know should you have any questions, related to those funds or any other in our list.

Funds investing in Eurozone Equity markets

Both funds have experienced negative returns YTD, but they have nicely outperformed their benchmark, i.e the Euro Stoxx NR.

• Sycomore Shared Growth: -21% vs -33.4% for the benchmark
  (performance YTD as at 19.03.2020, clean fee share class – FR0010117085)

• Mandarine Active: -26.1% vs -35.2% for the benchmark
  (performance YTD as at 18.03.2020, clean fee share class – FR0011352160)

They have performed in line with expectations, delivering the alpha in this extreme sell-off and we are happy to share with you their thoughts and actions taken

Funds investing in Global Equity markets

A summary of actions taken by Robeco Thematic equities Portfolio Managers (PMs) from which we have selected their funds. Both funds have also managed to outperformed their respective benchmarks.

• Robeco Global Consumer Trend: 
  YTD: -21.5% vs -28.4% for the MSCI ACWI NR USD
  MTD :-18.5% vs -21.4%, (performance as at 18.03.2020)

• Robeco Global Fin Tech:
  YTD: -21.8% vs -28.4% for the MSCI ACWI NR USD
  MTD: -28.1% vs -21.4%, (performance as at 18.03.2020)

Fund with a Global Multi-Assets investment strategy

Most multi-asset funds have been caught in the recent market sell-off with a magnitude unseen since the global financial crisis in 2008-2009.

In an environment where cash is king and government bonds provide limited diversification benefits (even negative returns over the last 2 weeks), the fund Man AHL TargetRisk outperformed most of its peers by returning -6.6% YTD versus -17.2% for its 50/50 benchmark
(clean fee share class in USD as at 19.03.2020).