Alma UBS Multi Strategy Alternatives
Cumulative Performance (%)
Fund Inception 28 August 2019
The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.
Strategy & Manager
Alma Platinum IV UBS Multi Strategy Alternatives (“the Fund”) is a “multi-manager” fund, meaning that Alma Capital Investment Management (the “Management Company”) appoints a number of sub-investment managers to each manage a segment of the assets of the Fund (Segment).
UBS Hedge Fund Solutions LLC (the “Investment Adviser”) advises the Management Company on selection of sub-investment managers and allocation of Fund to each Segment from time to time. The sub-investment managers will invest in a wide range of investments, using a variety of investment strategies and techniques. Among these may be :
i) “equity hedge” strategies, where the Fund will invest in shares of companies but use financial contracts (derivatives) to try to limit the effect of negative market movements
ii) “relative value” strategies, where the Fund will invest in across a variety of assets but will try to take advantage of mis-pricing and other opportunities to gain a return
iii) “trading strategies” where the Fund will invest in a broad range of assets (share in companies, foreign exchange, tradable debt issues by companies and governments, currencies) where a sub-investment manager believes that it can achieve a return
iv) “credit/income” strategies where the Fund will invest in debt investments.
Statistics & Commentary
The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.
Sector Breakdown as a % of AUM
as a % of AUM
as a % of AUM
as a % of AUM
Investment Manager's Commentaryas of
Through December, risk assets rallied across the board as investors continued to look past the worsening virus data, buoyed by encouraging vaccine rollouts. The market rhetoric has already started to transition towards reflation and the subsequent risk of rising rates, however, the question remains of how early equity markets will start to discount that.
At the strategy level, positive performance was led by Equity Hedged, although both Trading and Relative Value strategies also contributed positively to performance.
YTD, positive performance was driven by Equity Hedged, although these gains were partially offset by losses in Trading. Relative Value strategies ended the year in slightly positive territory, after a solid fourth quarter. At the manager level, the largest contributor was a global event-driven manager, while the largest detractor from performance was a European Equity Hedged manager.
MTD through December, the largest contributor to performance was a China-focused manager, which benefitted from the continued rally in Chinese equities on the back of strong economic momentum, given the early rebound from virus disruption compared to the rest of the world
There were no detractors from performance for the month
Current investment strategy
We are very excited about the prospects for 2021; in comparison to early 2020, we now have a wider range of strategies to choose from as opportunities present themselves. In addition, we are working to on-board four new strategies, to further improve the portfolio’s balance and capture an expanding opportunity set, especially in Equity Hedged
Facts & Documents
Fund Domicile: Luxembourg
Fund Type: UCITS SICAV
Fund Launch: 28 August 2019
Base Currency: EUR
Depositary, Administrator, Transfert Agent: RBC Investor Services Bank S.A.
Dealing: Daily with 2 business days notice
Cut-off time: 10 am CET
Management Company: Alma Capital Investment Management
Countries where the fund is registered:
ISIN: LU1960255377 Ticker: DBMSI0C LX Launch: 28 Aug 2019
ISIN: LU1960255708 Ticker: DBMSI4C LX Launch: 28 Aug 2019
ISIN: LU2213017143 Ticker: ALMSAIJ LX Launch: 11 Sep 2020