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
Although the Delta variant of Covid-19 continued to spread across developed countries and the situation in Afghanistan dominated the geopolitical landscape, August proved to be another positive month for global equities.
Positive performance was driven by Equity Hedged strategies, while Relative Value also contributed, but to a lesser extent. Trading was a modest detractor.
YTD, negative performance has been solely driven by Equity Hedged, although these losses have been muted by gains from Trading and Relative Value strategies. At the manager level, the largest contributor to performance is an Asia-focused event-driven manager, while the largest detractor is a healthcare sector-focused manager.
MTD the largest contributor to performance was an event-driven Equity Hedged manager, which benefitted from buoyant corporate activity in Europe, not just in terms of M&A activity but also in spin-offs and restructurings.
On the negative side, the quantitative equity space had a very mixed month broadly, while a systematic Trading manager was challenged by exposure to the energy sector.
Current investment strategy
There were no additions to or removals from the portfolio during the month of August, although we did reduce the allocation to the China-focused segment in line with expected volatility in China going forward and whilst tweaks to portfolio construction are being discussed. Elsewhere, we topped up the allocations to the Europe and Asia-focused event-driven segments, as well as the merger arbitrage sleeve.
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:
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.
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