Alma UBS Multi Strategy Alternatives
Overview
Share Class
NAV
Cumulative Performance (%)
Fund Inception 28 August 2019
Daily | Monthly | Ytd | 1Yr | 3Yr | 5Yr | Incept. | Incept.Date |
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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
Funds Strategy
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
Performance
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.
Investment Manager's Commentary
as of 31/07/2023Fund
Teaser:
Risk assets generated broadly positive performance in July as inflation data suggested that the US Federal Reserve could be near the end of their tightening cycle. While the overall outlook remains favorable near term, the macro implications of higher interest rates for longer reinforced recession fears for later this year or in 2024.
Monthly Performance:
At the strategy level, positive performance was driven by the Relative Value sleeve, while Equity Hedged and Trading also contributed positively, but to a lesser extent.
YTD Performance:
Year to date, positive performance has been driven by Equity Hedged strategies, while Relative Value has also contributed, but to a lesser extent. The Trading sleeve has delivered some offsetting losses. At the manager level, the largest contributor to performance is a quantitative equity manager, while the largest detractor is a merger arbitrage manager.
Performance Contributors:
MTD the largest contributor to performance was a quantitative equity manager, while a merger arbitrage manager also generated notable gains, benefitting from a high-profile deal clearing the FTC in early July, which caused deal spreads generally, to narrow. The primary contributor to performance at the position level was a deal in the technology sector.
Performance Detractors:
There were no detractors from performance at the manager level during the month.
Current investment strategy:
We have substantially reduced the overall directionality of the portfolio in order to protect capital in this period of elevated volatility. We will continue to focus predominantly on lower net and relative value strategies, which we believe are better suited to this market environment.
Facts & Documents
Facts
Fund Domicile: Luxembourg
Fund Type: UCITS SICAV
Fund Launch: 28 August 2019
Base Currency: EUR
Depositary, Administrator, Transfert Agent: CACEIS 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:
Luxembourg and UK
Sustainability-related disclosures:
The information related to the integration of sustainability risks and to the potential adverse sustainability impacts at the sub-fund level can be found in the prospectus of the Fund.
Identifiers:
I0C-E
ISIN: LU1960255377
Ticker: DBMSI0C LX
Launch: 28 Aug 2019
I4C-E
ISIN: LU1960255708
Ticker: DBMSI4C LX
Launch: 28 Aug 2019