Newsletter November 2014

Transcription

Newsletter November 2014
Newsletter November 2014
UCITS HFS Index turn around starts too late, down -0.29% in October 2014
Performance October 2014
Performance October 2014 by strategy
The UCITS HFS Index continues its erratic performance and
took losses in the first half of the month, which they were
reports a loss of -0.29% in October 2014. The broad index started
able to make up for in the second half of October. Fixed
off negatively with a loss of -0.92% after the first full week
Income on the other hand was the only strategy to post
of trading. The second week added additional losses of
gains in three of the four weeks, only having to take a loss
-0.49%. Things turned around in the second half
in second week of the month. The three worst
October 2014
of October though with the UCITS HFS Index
performing strategies in October were Event
Funds positive: 42.20%
gaining 0.62% in week three. With returns of
Driven (-1.69%), Commodity (-1.32%) and Global
Funds negative: 57.80%
0.50% in week four a majority of the losses taken
Macro (-0.54%). While Commodity took losses
in the first half of the month were nullified, but still it was
week after week, the two other strategies took losses in the
not enough to turn the broad index positive from a monthly
first half of the month which were too big to catch up in the
perspective.
second half despite positive results in week three and four.
From a sub-strategy perspective five of the twelve subFive strategies are now in the read for the year, Commsodistrategies reported positive results in October, the best
ty (-2.30%) and Event Driven (-1.79%) leading the field. From
performing being CTA (0.59%), Fixed Income (0.09%), Convera year to date perspective the broad UCITS HFS Index now
tible and Credit (both 0.04%). All of them except Fixed Income
stands at 0.90% in 2014.
Alternative Investing Summit
December 7-9, 2014 / Ritz-Carlton Laguna Niguel, Dana Point, CA
The Alternative Investing Summit will bring together trustees and representatives of
institutions as well as money managers and consultants to explore the roles of alternative
opportunities and strategies. Participants and delegates of this alternative investment
conference will investigate a range of critical investment issues, including discussion of the
risks and benefits of various asset classes and investment vehicles, examining means of cutting
costs associated with implementation of absolute returns strategies, reviewing the future of
commodities, and surveying the landscape of emerging international markets.
Sponsorship and Exhibiting Opportunities
are Available
If you are interested in attending, sponsoring,
speaking or exhibiting at this event, please call
212-532-9898 or email [email protected]
Register
To register, visit us online at www.opalgroup.net or
email us at [email protected]
Opal Financial Group
Your Link to Investment Education
ref code: AISA1410
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Fund presentation of the month: Sector Sigma Nordic
Fund Strategy
Sector Sigma Nordic is a long-short equity fund primarily
investing in the Nordic region (Norway, Sweden, Denmark and
Finland). The objective is to deliver attractive absolute returns
with a targeted volatility of 10%-15%, which is below the
historical average for Nordic equities. Investments are primarily made in companies listed on the Nordic Stock Exchanges
with established business models and operating history. The
investment process is research-driven, employing fundamental equity valuation criteria, with tactical implementation based on business cycle analysis. The investment managers seek to add value through fundamental research and a
thematic investment process, combined with cyclical investment strategies. Trading activity has historically been high as
the managers deploy an adaptive portfolio and risk-construction model to size positions around risk events.
of bond and equity mutual funds. Jannik holds a Bachelor of
Arts in Political Science (magna cum laude) obtained from Yale
University in the USA.
Fund Facts
Date of inception: 25.06.2012
AuM:USD 41.4 million
Sharpe Ratio:2.1
Volatility:6.7
1 month performance:
1.76%
3 month performance:
4.80%
12 month performance: 14.92%
YTD Performance: 9.91%
Annualized performance since inception: 14.40%
(All data as of 31.10.2014
Fund Manager
The investment team managing Sector
Sigma Nordic is comprised of three experienced portfolio managers and is led
by Jannik Arvesen. He has more than
25 years of extensive capital markets
experience from various positions within
the financial services industry. Jannik
co-founded Sigma Fondsforvaltning AS in 2006, and until
Sector Asset Management acquired Sigma in 2012, he held
the position of CIO and Senior Portfolio Manager of the
Sigma Energy Fund. He also had primary responsibility for
discretionary Nordic equity mandates. Prior to this, Jannik
held senior positions on the buy side at Mentor Kapitalforvaltning AS and Vesta Forvaltning, where he oversaw a family
Contact
Davide de Picciotto (Head of Sales)
Sector Asset Management
Filipstad Brygge 2, 0125, Oslo, Norway
Phone: +47 23 01 29 00
Email: [email protected]
Interview with Michael Appenzeller, Fundbase.com
Michael Appenzeller holds a M.S. in
Economy and is one of the founders
and the visionary mind behind Fundbase with access to a huge industry
network. He provides extensive experience in the financial industry; he is
a former COO/CFO and Risk Manager
of alternative and long only asset managers as well as a strategy consultant
and project manager for global asset management and capital market projects. We were interested to learn more about
his new venture and how he intends to disrupt the alternative
fund space.
Ucitsindex.com: Mr. Appenzeller, you recently launched
Fundbase – Can you briefly explain what Fundbase is?
Michael Appenzeller: Fundbase is a cloud-based platform to
deliver to qualified investors the first seamlessly integrated
platform to discover, execute and monitor complex investments such as hedge funds, private equity and other highconviction investments. It builds on trusted real world connections between accredited investors and fund managers
utilizing the latest in technology. It is accessible for free with
the firm goal to positively disrupt the current investment process’ efficiency, economics and performance.
Ucitsindex.com: Does the investment world really need another fund database? How does Fundbase differ from the big
off-shore hedge fund databases or also from databases that
cover regulated funds like Morningstar?
Appenzeller: Fundbase differs fundamentally in that it will
ultimately enable the investor to harvest the very significant
return potential that today’s investors are not able to capture
because of the alternative market’s inefficiencies. Ultimately
through savings in terms of transaction costs, optimized manager selection and lower operational risk Fundbase will put
investors in a position to capture a risk free 4-5% at the very
minimum. No database can achieve this. In the same way as a
phone book with all phone numbers of all taxi and Limo drivers in New York City could not have achieved what Uber has
done for the transportation industry. Fundbase builds up an
architecture for the alternative industry to work at efficient
terms for the first time in history. This means exciting times
ahead for investors and in the end for all of us since our savings deserve better returns!
Ucitsindex.com: Where does the platform stand today in
terms of achieving these “risk free 4-5%” that you mentioned?
Appenzeller: We are building the platform step by step and
have opened in public Beta some 5 weeks ago. With around
500 qualified users and 500 hedge funds on our platform we
consider this a good start. The platform offers investors the
possibility to consume 360 degrees information on the investments on the platform. Any investments we might not have
yet can be instantly “ordered” through the platform and our
team will make the usual level of information available on the
platform in due course. Our tool suite is consisting of an institutional analytics capability, collaborative notes, watchlist
and research functions. Paying investors get their exact investments like series, estimates, bespoke things like individual/
watermarked documents, bespoke exposure information etc.
Ucitsindex.com: What can we expect next then, what’s on
your roadmap?
Appenzeller: Our roadmap is packed with exciting features.
In the coming weeks we will implement the first institutional
grade social functions that allow investors to find peers and
How can we save you money today?
Brokerage
Fund Administration
Fund Setup
potential co-investors anonymously. We are also working on
exciting portfolio management functions. Plus investors can
expect some rather major news from us in 2015 which we are
not yet ready to comment on. We are also always listening very
carefully to investors and our users and get great feedback
every day. This is a major part of what we are doing, developing features for our clients: Family offices, wealth managers,
banks, pension funds and (Ultra) High net worth individuals.
Ucitsindex.com: From a UCITS point of view: why should
UCITS hedge fund managers register and why should investors interested in UCITS alternatives sign up?
Appenzeller: Because they shouldn’t miss out. Hundreds of
users including some of Switzerland’s most sophisticated investors already signed up and interacted with fund managers
and other investors. Some of them are actively looking for
UCITS alternatives. So we are building that universe up as well.
Ucitsindex.com: Looking ahead: How will technology change
the finance industry and what role does Fundbase play in
this?
Appenzeller: Technology is dramatically reducing overall transaction costs and improving transparency in every market on
this planet. Other industries are already in the middle of this. I
mentioned the transport industry with players like Uber, other
markets like housing, travelling, music, marketing or more traditional ones like the automotive industry are all being disrupted by technology. Financial Service is clearly lagging and will
be in the eye of the storm very soon. Fundbase helps to accelerate this process in that we aim to act as a blueprint for some
of the changes that are ahead in every corner of this industry.
We believe it’s time that Financial Services delivers the value
that we all deserve as investors and savers. And I firmly believe
industries should be transformed not because of a regulator
but because of innovation. Technology and some of the new
emerging players will enable this.
Negotiato.rs is a price comparison and
negotiation service for institutional
money managers, helping you drive down
your cost base immediately.
Need help with a different service provider?
Call +41 44 578 5000 or visit www.negotiato.rs
to optimise your service provider setup.
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