ATTRIBUTION AND RISK REPORT
|
|
- Augusta Cross
- 5 years ago
- Views:
Transcription
1 ATTRIBUTION AND RISK REPORT FOR PROFESSIONAL CLIENTS ONLY September 8 MARTIN CURRIE JAPAN ABSOLUTE RETURN FUND ATTRIBUTION (absolute contributions calculated from gross performance) LAUNCH DATE: -June-4 JP (%) One month Three months Year to date One year Three years Five years Launch Beta.5.4 (.) Long book Consumer discretionary Consumer staples Energy Financials Healthcare Industrials Information technology Materials Real Estate Telecom Services Utilities Short book (.6) (.8) (.) (.) (.5) - (.8) Consumer discretionary (.) (.) (.) (.5) (.5) - (.4) Consumer staples (.) (.) (.) (.5) (.5) - (.4) Energy.... (.) - (.) Financials (.) (.) (.) (.) (.) - (.) Healthcare (.) (.) (.) (.) (.4) - (.) Industrials (.) (.4) (.4) (.7) (.7) - (.7) Information technology (.) (.) (.) (.) (.) - (.) Materials (.) (.) (.) (.) (.4) - (.) Real Estate (.) (.) (.) (.) (.4) - (.) Telecom Services (.) Utilities (.) (.) (.) (.) (.) - (.) Futures Options (.) (.5) (.4) (.) (.5) - (.8) Alpha (.5) (.8) (.8) Long book (.6) (.8) (.) Consumer discretionary (.4) (.) Consumer staples (.)... (.) -. Energy. (.) (.) (.). -. Financials (.). (.) (.) (.) - (.4) Healthcare (.) (.) (.) (.) (.) - (.) Industrials (.) (.5) (.5) (.4).7 -. Information technology (.) (.) (.) Materials (.) (.4) (.7).. -. Real Estate (.) (.6).. (.) - (.) Telecom Services... (.). -. Utilities. (.) Short book Consumer discretionary. (.) (.5) (.7) (.) -. Consumer staples (.) (.)... - (.) Energy.... (.) - (.) Financials Healthcare. (.) (.4) (.6) (.) - (.) Industrials (.) (.) Information technology Materials (.) (.4). (.) (.) - (.) Real Estate Telecom Services Utilities (.) (.) (.6) (.). -. Beta - market contribution Alpha - stock selection Top 5 stock contributors - One month Bottom 5 stock contributors - One month Long book Long book Name Contribution Av. Weight Sector Name Contribution Av. Weight Sector Sony.4.9 Consumer Discretionary Start Today (.). Consumer Discretionary SHO-BOND..6 Industrials Suzuki Motor (.).9 Consumer Discretionary Takuma.. Industrials Koa (.). Information Technology Toyota Industries..8 Consumer Discretionary Lasertec (.).5 Information Technology Raksul..9 Consumer Discretionary IRISO Electronics (.). Information Technology Short book Short book Name Contribution Av. Weight Sector Name Contribution Av. Weight Sector Top short. (.) Real Estate Bottom short (.) (.4) Consumer Staples Top short. (.6) Information Technology Bottom short (.) (.9) Materials Top short. (.5) Consumer Staples Bottom short (.) (.4) Consumer Staples Top short 4. (.7) Industrials Bottom short 4 (.) (.8) Industrials Top short 5. (.) Information Technology Bottom short 5 (.) (.) Consumer Staples Source for all figures on this page: Martin Currie. Contributions for attribution are gross of all fees and expenses and are calculated from internal systems.the information provided should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any of the security transactions discussed here were, or will prove to be, profitable.
2 Percentage (%) Percentage (%) Cumulative performance (%) Cumulative performance (%) Contribution to porfolio performance (%) % weighting EXPOSURES Portfolio Exposure Exposure - Gross Exposure - Net ALPHA (absolute contributions calculated from gross performance) Stock selection contributions Short - Stock Sel. Long - Stock Sel. 4 () () () Long book return Short book return Long Book Short Book Note: Long book and short book return graphs above display returns rather than contributions, therefore excess returns are generated where 'Long Book' line is above '' and where 'Short Book' is below ''. Source: Martin Currie. Contributions and returns are gross of all fees and expenses and are calculated from internal systems. BETA (based on published NAV performance) Upside participation in positive market months versus ranked market returns since launch 4 Av. monthly return 5 5 return return Downside participation in negative market months Av. monthly return (5) () () () () (4) (5) Source: Martin Currie. Figures based on official NAVs calculated by the fund administrator and are net of all fees and expenses. This strategy is not constrained by a benchmark but we show it versus the index for illustrative purposes only.
3 Count of observations PERFORMANCE AND RISK (based on published NAV performance) Cum. Cum. Cum. Risk-free Three years Five years Since launch Beta since launch Ann. Ann. Ann. Risk-free Best month Worst month Best month Index Worst month Index (.) - (.).4.4 (9.6) (9.6). Volatility (ann.) Mkt. Volatility (ann.) Correlation Beta Sharpe ratio Skewness Excess Kurtosis % +ve mths % +ve mths Mkt. Three years Five years Since launch (.9) - (.) (.8) - (.) 67% - 65% 67% - 67% Calmar ratio Max Drawdown (.7) - (.7) Max Drawdown Mkt. (.) - (.9) Number of observations 5 Minimum number for analysis () Since launch cumulative return Risk-free rate - US Interbank Offered Rate Mth performance reported in local currency Risk Free Rate 4 Annual returns since launch () YTD Distribution of monthly returns since launch <(8) (8) to (6) (6) to (4) (4) to () () to to to 4 4 to 6 6 to 8 >8 Return range % DRAWDOWNS (based on published NAV performance) Five largest fund drawdowns Drawdown (%) Length (months) Months to recover Peak Trough (.7) 8 Dec-5 Aug-6 (.4) 8 - Jan-8 Sep-8 (.4) Jul-5 Sep-5 (.8) Jul-4 Aug-4 (.7) Sep-4 Oct-4 Source for all figures on this page: Martin Currie. figures based on official NAVs calculated by the fund administrator and are net of all fees and expenses. This strategy is not constrained by a benchmark but we show it versus the index for illustrative purposes only. Maximum drawdown peak to trough.
4 Proportion of assets (%) RISK DATA (based on internal data) Month-end Gross market exposure 5 % Net market exposure 5 55% Beta-adjusted net market exposure 6% Delta-adjusted net market exposure 49% Long/short ratio. Most significant negative stress results (.59)% Dividend Yield Spread - SD % (4.)% Styles - Dividend Yield - SD % Most significant positive stress results TOPIX First Section - SD 6% 9.9% PB Low - SD 6% 9.4% Number of longs 5 Number of shorts (4.8)% (4.6)% VDAX Germany New 9 - SD 65% China Renminbi per Japanese Yen - SD 8% PE Low - SD 6% MSCI Japan Small Cap - SD 6% 9.5% 9.6% Two week VaR (95% confidence level).7% (6.)% Japanese Yen Trade Weighted - SD 5% Size Low - SD 4% 9.5% Liquidity profile - proportion of assets that can be liquidated in a given period. % 75% 88% 95% % 5% 5% % days One month Three months Cap. Exposure (%) 4 <$bn -bn -5bn 5-bn >bn Long book Short book (.) (.) (6.8) (6.4) (.) Gross Net Average size The most significant stress test results are identified from a sample of 8- unique stress tests that are carried out daily. The tests stress the portfolio by exposing it to a movement in size of the given factor by one standard deviation from the average of the daily movements observed in our SunGard APT short term risk model. Source: SunGard APT. The liquidity profile of the portfolio is measured assuming that all positions will be traded out in an orderly fashion and at no more than a quarter of the average daily volume traded observed over the previous 6 days. The stock is assumed to be simultaneously traded across all Martin Currie accounts and products holding it and as a consequence single client redemption liquidity is typically higher than the values shown. Recent IPOs have insufficient historical data to be accurately assessed for liquidity and therefore where held are shown as an additional component on the chart.. The Value at Risk measure aims to quantify with 95% confidence the maximum loss that could be incurred assuming normal market conditions over a two week period. The model uses daily data looking back over the previous twelve months to describe normal market conditions and produce the predicted value. 4. The ' Cap' analysis does not include cash and certain derivatives. 5. Gross and Net exposures include equity and equity derivatives only. Source for all figures on this page: Martin Currie. Risk numbers calculated using SunGard APT. Liquidity calculated using data from FactSet. Cap data sourced from StateStreet.
5 REGULATORY INFORMATION AND RISK WARNINGS IMPORTANT INFORMATION This information is issued and approved by Martin Currie Investment Management Limited ( MCIM ). It does not constitute investment advice. and currency movements may cause the capital value of shares, and the income from them, to fall as well as rise and you may get back less than you invested. This document is intended for the recipient only and should not be given to other parties. It does not form the basis of, nor should it be relied upon in connection with, any subsequent contract or agreement. It does not constitute, and may not be used for the purpose of an offer or invitation to subscribe for or otherwise acquire shares in any of the products mentioned. Martin Currie Japan Hedge ( the Company ) is an open-ended investment company, currently consisting of sub-funds with one or more share classes. The distribution of any Offering documents and the offering of Shares in certain jurisdictions may be restricted by law. Persons who are in possession of any Offering documents and any persons wishing to apply for Shares pursuant to any Offering documents are required by the Company to inform themselves about and to observe any such restrictions. Generally they may only be sold to institutional investors in certain jurisdictions where the shares have been approved for sale or sales may be affected in accordance with appropriate legislation. Subscriptions of shares in the Company may only currently be made on the terms of the relevant Offering and Explanatory Memoranda. Prospective Investors should be aware that investing in the Company involves a high degree of risk. There can be no assurance that the will achieve its investment objectives. The value of the interests may go down as well as up and there can be no assurance that Investors will receive back the amount originally invested. Accordingly, the Company is only suitable for those investors who understand the risks involved and who are able to withstand the total loss of their investment. Prospective investors should seek advice from such advisers as they deem necessary and appropriate in making an investment decision. Investors in the UK The distribution of the Company, as an unregulated collective investment scheme, is restricted under the Financial Services and s Act in the United Kingdom. Investors are advised that they will not benefit, as against the Company, from the rules and regulations of the United Kingdom, Financial Services Compensation Scheme nor have access to the United Kingdom Financial Services Ombudsman in the event of a dispute. Investors will also have no rights of cancellation under the rules of the FCA Conduct of Business Sourcebook of the United Kingdom. Investors in the United States None of the shares in the Company, referred to herein ( the Shares ), have been nor will be registered under the US Securities Act of 9 ( the Securities Act ) and, subject to certain exceptions, may not be offered or sold within the United States or to, or for the account or benefit of, US persons (as defined in Regulation S under the Securities Act ( Regulation S )). The Shares are being offered and sold outside the United States to non-us persons in reliance on Regulation S and within the United States to accredited investors (as defined in Regulation D under the Securities Act ( Regulation D )) who are also qualified purchasers as defined in Section (a)(5) of the US Investment Company Act of 94 ( the Companies Act ) in a transaction not involving any public offering within the meaning of Section 4() of the Securities Act. The Company has not been and will not be registered under the Companies Act. Any prospective purchaser of the Shares who is located in the United States or is a US person will be required to sign an investor representation letter confirming, among other things, his or her status as an accredited investor, who is also a qualified purchaser, and agreeing to certain restrictions on transfer applicable to the Shares, including a restriction on the transfer or sale of any Shares other than in an offshore transaction in accordance with Rule 9 or Rule 94 of Regulation S. The Company seeks to restrict ownership of its shares so that equity participation by employees benefit plans is not significant within the meaning of ERISA regulations. Investment in the Company by US persons is only available through Legg Mason Investor Services LLC ( LMIS ), a US registered broker-dealer firm. LMIS is a member of the FINRA. Martin Currie Inc. (MCI) and LMIS are Legg Mason, Inc. affiliates. In its capacity as a broker-dealer, LMIS accepts responsibility for the content of this document. Investors in Switzerland The representative of the in Switzerland is Hugo Services SA, 6 Cours de Rive, 4 Geneva. The distribution of Shares in Switzerland must exclusively be made to qualified investors. The place of performance for Shares in the distributed in Switzerland is at the registered office of the Representative. Investors in Australia This material is provided on the basis that you are a wholesale client within the definition of ASIC Class Order /99. MCIM is registered as a foreign company under the Corporations Act (ARBN 4 6). It is exempt from the requirement to hold an Australian Financial Services Licence under the Corporations Act in respect of financial services provided to Australian wholesale clients by virtue of the application of ASIC Class Order /99. MCIM is authorised and regulated by the FCA under UK laws, which differ from Australian laws. Performance notes: A net fee rate of.% (with a % performance fee) has been used for US$B and B. A net fee rate of.5% (with a % performance fee) has been used for US$C and a net fee rate of.5% (with a 7.5% performance fee) has been used for US$D in the presentation of the net fee performance data. These are our standard fee offerings for this fund. These fees may vary from other strategy accounts that the Investment Advisor manages. Investors should also be aware of the following risk factors which may be applicable to the shown in this document. Investing in foreign markets introduces a risk where adverse movements in currency exchange rates could result in a decrease in the value of your investment. This may hold a limited number of investments. If one of these investments falls in value this can have a greater impact on the portfolio s value than if it held a larger number of investments. Smaller companies may be riskier and their shares may be less liquid than larger companies, meaning that their share price may be more volatile. Investors should be aware that the currency hedging strategy employed by the mitigates the currency exchange risk, but may substantially limit shareholders from benefitting if the currency falls against the reference currency. Investments for the portfolio may include financial derivative instruments. Such instruments may be used to obtain, increase or reduce exposure to underlying assets and create gearing, therefore their use may result in greater fluctuations of the Net Asset Value (NAV) of the portfolio. Martin Currie Investment Management Limited, registered in Scotland (no SC667). Martin Currie Management Limited, registered in Scotland (no SC4896). Registered office: Saltire Court, Castle Terrace, Edinburgh EH ES. Tel: 88 5 Fax: Both companies are authorised and regulated by the Financial Conduct Authority. Please note that calls to the above number may be recorded. TN6-5
STRATEGY INSIGHT JAPAN LONG/SHORT
STRATEGY INSIGHT JAPAN LONG/SHORT FEBRUARY 2018 FOR PROFESSIONAL CLIENTS ONLY In today s markets, investors are increasingly seeking greater stability in returns and managed volatility as well as a focus
More informationSTRATEGY INSIGHT EUROPEAN LONG/SHORT
STRATEGY INSIGHT EUROPEAN LONG/SHORT FEBRUARY 2018 FOR PROFESSIONAL CLIENTS ONLY In today s markets, investors are increasingly seeking greater stability in returns and managed volatility as well as an
More informationWHITE PAPER GLOBAL LONG-TERM UNCONSTRAINED
WHITE PAPER GLOBAL LONG-TERM UNCONSTRAINED FEBRUARY 217 FOR PROFESSIONAL CLIENTS ONLY Martin Currie s Asia Long-Term Unconstrained (ALTU) strategy has, since inception in 28, been successful in delivering
More informationMARTIN CURRIE AUSTRALIA MICROCAP
STRATEGY INSIGHT FEBRUARY 2016 FOR PROFESSIONAL CLIENTS ONLY The Martin Currie Australia MicroCap strategy aims to provide exposure to high-quality micro caps: emerging companies that are growing faster
More informationThe Swan Defined Risk Strategy - A Full Market Solution
The Swan Defined Risk Strategy - A Full Market Solution Absolute, Relative, and Risk-Adjusted Performance Metrics for Swan DRS and the Index (Summary) June 30, 2018 Manager Performance July 1997 - June
More informationGlobal Equities. Q&A roadshow #QAroadshow2016. Gavin Marriott Product Manager
Global Equities Q&A roadshow 216 #QAroadshow216 Gavin Marriott Product Manager June 216 For professional advisers only. This material is not suitable for retail clients Questions What will drive global
More informationMulti-Strategy Linear Investments Limited
Multi-Strategy Linear Investments Limited June 2017 Linear Investments Limited Regulated by FCA. Registered in England and Wales No. 07330725 Linear Core Services Established in 2010 and authorised and
More informationLVHI Legg Mason International Low Volatility High Dividend ETF
Legg Mason International Low Volatility High Dividend ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Total Market Competing ETFs: IHDG, JPIH, DHDG, FLQH, DBEF Related ETF Channels: Developed
More informationFunds & Strategies. Linear Investments Limited Regulated by FCA. Registered in England and Wales No
Funds & Strategies Linear Investments Limited Regulated by FCA. Registered in England and Wales No. 07330725 IK01 Bi-Directional Gold A firm established in 2004, regulated in Switzerland and the UK. An
More informationJapan Small Cap Fund (UCITS) Class A JPY
Satoshi Marui, Chief Portfolio Manager, has been managing Japanese equities for over 20 years. He has been dedicated to, and responsible for the strategy since its inception in 2005. Performance 1 5.0%
More informationVYMI Vanguard International High Dividend Yield ETF
Vanguard International High Dividend Yield ETF ETF.com segment: Equity: Global Ex-U.S. - High Dividend Yield Competing ETFs: DWX, HDAW Related ETF Channels: Smart-Beta ETFs, Dividend, Broad-based, High
More informationCalamos Phineus Long/Short Fund
Calamos Phineus Long/Short Fund Performance Update SEPTEMBER 18 FOR INVESTMENT PROFESSIONAL USE ONLY Why Calamos Phineus Long/Short Equity-Like Returns with Superior Risk Profile Over Full Market Cycle
More informationManager Comparison Report June 28, Report Created on: July 25, 2013
Manager Comparison Report June 28, 213 Report Created on: July 25, 213 Page 1 of 14 Performance Evaluation Manager Performance Growth of $1 Cumulative Performance & Monthly s 3748 3578 348 3238 368 2898
More informationDXJ WisdomTree Japan Hedged Equity Fund
WisdomTree Japan Hedged Equity Fund ETF.com segment: Equity: Japan - Total Market Competing ETFs: HJPX, DDJP, DBJP, HEWJ, FLJH Related ETF Channels: Smart-Beta ETFs, Total Market, Currency Hedged, Broad-based,
More informationCapricorn GEM Fund. Objective. Manager's Comments 7,5% 199,7 6,3% (11,1%) 99,7% 2,4% 189,3 89,3% (14,0%) 2,1% 6,9% 4,2% 89,8% 4,8% 7,0% (13,0%) 189,8
Objective The Fund is a US Dollar denominated, moderate risk, equity long/short hedge fund, which aims to achieve superior risk-adjusted returns on an absolute basis over any 12 month period by investing
More informationEFAX SPDR MSCI EAFE Fossil Fuel Reserves Free ETF
SPDR MSCI EAFE Fossil Fuel Reserves Free ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Total Market Competing ETFs: EFA, VEA, IEFA, SCHF, SPDW Related ETF Channels: Equity, Size and Style, Developed
More informationCFI Multi-Strategy Equity Fund, LLC Objective and Strategy March 31, 2015
CFI Multi-Strategy Equity Fund, LLC Objective and Strategy Objective To offer an actively managed, multi-manager investment program that will provide broad exposure to global equity markets. The fund seeks
More informationBlackstone Alternative Alpha Fund (BAAF)
Blackstone Alternative Alpha Fund (BAAF) Blackstone For Purchase by Accredited Investors Only As of March 31, 2017 Investment approach Fund net performance 1, 2, 3 Blackstone Alternative Alpha Fund ( BAAF
More informationSecurities Trust of Scotland
This article first appeared on Investment Trust Intelligence on 14 October and reflects their views and opinions. Martin Currie has edited this to ensure suitable for a retail audience. Securities Trust
More informationVEA Vanguard FTSE Developed Markets ETF
Vanguard FTSE Developed Markets ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Total Market Competing ETFs: EFA, IEFA, SCHF, SPDW, IDEV Related ETF Channels: Developed Markets Ex-U.S., Total
More informationBeginning Date: January 2016 End Date: June Managers in Zephyr: Benchmark: Morningstar Short-Term Bond
Beginning Date: January 2016 End Date: June 2018 Managers in Zephyr: Benchmark: Manager Performance January 2016 - June 2018 (Single Computation) 11200 11000 10800 10600 10400 10200 10000 9800 Dec 2015
More informationBeginning Date: January 2016 End Date: September Managers in Zephyr: Benchmark: Morningstar Short-Term Bond
Beginning Date: January 2016 End Date: September 2018 Managers in Zephyr: Benchmark: Manager Performance January 2016 - September 2018 (Single Computation) 11400 - Yorktown Funds 11200 11000 10800 10600
More informationJPN Xtrackers Japan JPX-Nikkei 400 Equity ETF
Xtrackers Japan JPX-Nikkei 400 Equity ETF ETF.com segment: Equity: Japan - Total Market Competing ETFs: JPXN, DXJ, HJPX, DDJP, EWJ Related ETF Channels: Smart-Beta ETFs, Broad-based, Total Market, Single
More informationBlackstone Alternative Alpha Fund (BAAF)
Blackstone Alternative Alpha Fund (BAAF) Blackstone For Accredited Investors Only As of February 29th, 2016 Investment approach Blackstone Alternative Alpha Fund ( BAAF or the Fund ) is a closed end registered
More informationJPN Xtrackers Japan JPX-Nikkei 400 Equity ETF
Xtrackers Japan JPX-Nikkei 400 Equity ETF ETF.com segment: Equity: Japan - Total Market Competing ETFs: JPXN, DXJ, HJPX, DDJP, EWJ Related ETF Channels: Smart-Beta ETFs, Total Market, Single Country, Fundamental,
More informationDTH WisdomTree International High Dividend Fund
WisdomTree International High Dividend Fund ETF.com segment: Equity: Developed Markets Ex-U.S. - High Dividend Competing ETFs: IDV, HDEF, EFAS, FIDI Related ETF Channels: Developed Markets Ex-U.S., Smart-Beta
More informationDXJS WisdomTree Japan Hedged SmallCap Equity Fund
WisdomTree Japan Hedged SmallCap Equity Fund ETF.com segment: Equity: Japan - Small Cap Competing ETFs: SCJ, DFJ Related ETF Channels: Smart-Beta ETFs, Dividend, Currency Hedged, Broad-based, Small Cap,
More informationIXUS ishares Core MSCI Total International Stock ETF
ishares Core MSCI Total International Stock ETF ETF.com segment: Equity: Global Ex-U.S. - Total Market Competing ETFs: VEU, VXUS, ACWX, CWI, DBAW Related ETF Channels: Total Market, Vanilla, Equity, Global
More informationEUROPEAN LONG/SHORT JANUARY 2016
EUROPEAN LONG/SHORT JANUARY 2016 FOR PROFESSIONAL CLIENTS ONLY There was certainly no shortage of talking points for investors in 2015. Monetary easing, low oil prices and political upheaval drove investor
More informationSCIJ Global X Scientific Beta Japan ETF
Global X Scientific Beta Japan ETF ETF.com segment: Equity: Japan - Total Market Competing ETFs: FJP, GSJY, QJPN, JHDG, EWJ Related ETF Channels: Multi-factor, Smart-Beta ETFs, Single Country, Total Market,
More informationFUND OF HEDGE FUNDS DO THEY REALLY ADD VALUE?
FUND OF HEDGE FUNDS DO THEY REALLY ADD VALUE? Florian Albrecht, Jean-Francois Bacmann, Pierre Jeanneret & Stefan Scholz, RMF Investment Management Man Investments Hedge funds have attracted significant
More informationAMG Managers Pictet International Fund Class N (APINX) Class I (APCTX ) Class Z (APCZX) September 2018
Class N (APINX) Class I (APCTX ) Class Z (APCZX) September 2018 FOR INVESTMENT PROFESSIONAL USE ONLY NOT FOR DISTRIBUTION TO OR USE WITH THE GENERAL PUBLIC QUARTERLY PERFORMANCE () AND EXPENSE RATIOS as
More informationThe Compelling Case for Value
The Compelling Case for Value July 2, 2018 SOLELY FOR THE USE OF INSTITUTIONAL INVESTORS AND PROFESSIONAL ADVISORS 0 Jan-75 Jan-77 Jan-79 Jan-81 Jan-83 Jan-85 Jan-87 Jan-89 Jan-91 Jan-93 Jan-95 Jan-97
More informationACWX ishares MSCI ACWI ex U.S. ETF
ishares MSCI ACWI ex U.S. ETF ETF.com segment: Equity: Global Ex-U.S. - Total Market Competing ETFs: CWI, VEU, VXUS, IXUS, DBAW Related ETF Channels: Total Market, Vanilla, Equity, Global Ex-US, Size and
More informationCFI Multi-Strategy Equity Fund, LLC Objective and Strategy
CFI Multi-Strategy Equity Fund, LLC Objective and Strategy December 31, 2010 Actual Weights 27% 36% Core Opportunistic Diversifying Objective Outperform the return of the U.S. equity market as measured
More informationASET FlexShares Real Assets Allocation Index Fund
FlexShares Real Assets Allocation Index Fund ETF.com segment: Equity: Global - Total Market Competing ETFs: QXGG, FVC, DWLV, VT, ACWI Related ETF Channels: Trend-Following, Size and Style, Smart-Beta ETFs,
More informationSummit Strategies Group 8182 Maryland Avenue, 6th Floor St. Louis, Missouri
Summit Strategies Group 8182 Maryland Avenue, 6th Floor St. Louis, Missouri 63105 314.727.7211 Quarterly Review Global Equity Market Update GLOBAL EQUITY MARKETS CALENDAR YEAR RETURNS 2002 2003 2004 2005
More informationAspiriant Risk-Managed Equity Allocation Fund RMEAX Q4 2018
Aspiriant Risk-Managed Equity Allocation Fund Q4 2018 Investment Objective Description The Aspiriant Risk-Managed Equity Allocation Fund ( or the Fund ) seeks to achieve long-term capital appreciation
More informationMan AHL Diversified plc
NAV per unit USD 88.19 Total NAV USD 988,635,806 No. units 11,209,426 Against a backdrop of the beginning of the end to QE, December proved to be a slightly volatile month for the fund, with gains in stocks,
More informationCumulative Performance (in %) - Share Class LD
Marketing Material DWS Top Dividende Equity Funds - Global November 2018 As at 30/11/2018 Fund Data Investment Policy DWS Top Dividende offers an equity investment with the opportunity for current income.
More informationD D
D D D D D D EDM Strategy European Equities Return Date: 28/02/2018 Portfolio Date: 28/02/2018 Snapshot Category Custodian / Administrator Auditor Domicile UCITS 5 Years Risk-Reward Time Period:
More informationLyxor / Winton Capital Management Fund Limited - CLASS B
OVERVIEW NAV per share on 19-Feb-13 USD 354.00 Fund Details Trading Advisor Details Fees Fund inception date Denomination ISIN Available classes Liquidity Listing Prime Broker Auditor Administrator May-2002
More informationGlobal Balancing Act February 2018
Leila Charles Heckman, Waters Ph.D. lheckman@dcmadvisors.com 917-386-6261 John Mullin, Ph.D. jmullin@dcmadvisors.com 917-386-6262 Charles Waters cwaters@dcmadvisors.com 917-386-6264 Global Balancing Act
More informationBlackstone Alternative Alpha Fund (BAAF)
Blackstone Alternative Alpha Fund (BAAF) Blackstone For Accredited Investors Only As of July 31, 2017 Investment Approach Fund Performance 1, 2, 3 Blackstone Alternative Alpha Fund ( BAAF or the Fund )
More informationEquity Markets in a Late-Cycle Environment: Balancing Opportunity and Risk
Equity Markets in a Late-Cycle Environment: Balancing Opportunity and Risk Speaker: Olivia Engel, CFA Senior Managing Director, CIO, Active Quantitative Equity State Street Global Advisors 2 Content What
More informationSCZ ishares MSCI EAFE Small-Cap ETF
ishares MSCI EAFE Small-Cap ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Small Cap Competing ETFs: SCHC, GWX, H, FNDC, DLS Related ETF Channels: Developed Markets Ex-U.S., Broad-based, Vanilla,
More informationADRA Invesco BLDRS Asia 50 ADR Index Fund
Invesco BLDRS Asia 50 ADR Index Fund ETF.com segment: Equity: Asia-Pacific - Large Cap Competing ETFs: N/A Related ETF Channels: Large Cap, Asia-Pacific, Equity, Depositary Receipts, Size and Style, Broadbased
More informationAlphaSolutions Sector Rotation Model
AlphaSolutions Sector Rotation Model An investment model based on trending and momentum strategies Portfolio Goals Primary: Seeks long term growth of capital by investing in highranked U.S. Equity Sectors
More informationIDOG ALPS International Sector Dividend Dogs ETF
ALPS International Sector Dividend Dogs ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Large Cap Competing ETFs: DOL, DOO, FNDF, CIZ, RBIN Related ETF Channels: Developed Markets Ex-U.S., Smart-Beta
More informationAsset allocation achieving the right mix
Asset allocation achieving the right mix Learning outcomes The objective of the presentation is to help develop your understanding of: The benefits and drawbacks of a range of asset allocation styles The
More informationGlobal Tactical Asset Allocation
Global Tactical Asset Allocation This material is solely for informational purposes to be viewed in conjunction with this presentation. The information presented should not be construed as representative
More informationROBO ROBO Global Robotics and Automation Index ETF
Global Robotics and Automation Index ETF ETF.com segment: Equity: Global - Total Market Competing ETFs: LEGR, ROBT, FANZ, VT, ACWI Related ETF Channels: Equal-Weighted, Smart-Beta ETFs, Total Market, Broad-based,
More informationGWX SPDR S&P International Small Cap ETF
SPDR S&P International Small Cap ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Small Cap Competing ETFs: SCZ, SCHC, HSCZ, FNDC, DLS Related ETF Channels: Equity, Vanilla, Size and Style, Broad-based,
More informationDWX SPDR S&P International Dividend ETF
SPDR S&P International Dividend ETF ETF.com segment: Equity: Global Ex-U.S. - High Dividend Yield Competing ETFs: HDAW, VYMI Related ETF Channels: Smart-Beta ETFs, Dividend, Broad-based, ESG, Dividends,
More informationJPMorgan American Investment Trust plc Annual General Meeting. 13 May 2015
JPMorgan American Investment Trust plc Annual General Meeting 13 May 2015 Agenda Performance Review Current Economic and Market Data Current Asset Allocation and Fund Structure 1 2014 Results NAV return
More informationCumulative Performance (in %) - Share Class LD
Marketing Material DWS Investa Equity Funds - Germany October 2017 As at 31/10/2017 Fund Data Investment Policy German blue chips from the DAX index. Performance Performance - Share Class LD (in %) Fund
More informationMPI Quantitative Analysis
MPI Quantitative Analysis a Mario H. Aguilar Director, Client Services, EMEA February 2011 Markov Processes International Tel +1 908 608 1558 www.markovprocesses.com ASSET CLASS ANALYSIS NORTH AMERICA
More informationHEWU ishares Currency Hedged MSCI United Kingdom ETF
ishares Currency Hedged MSCI United Kingdom ETF ETF.com segment: Equity: U.K. - Total Market Competing ETFs: EWU, DBUK, QGBR, FKU, FLGB Related ETF Channels: U.K., Total Market, Currency Hedged, Single
More informationFNDC Schwab Fundamental International Small Company Index ETF
Schwab Fundamental International Small Company Index ETF ETF.com segment: Equity: Developed Markets Ex-U.S. - Small Cap Competing ETFs: DLS, DDLS, SCZ, SCHC, GWX Related ETF Channels: Smart-Beta ETFs,
More informationCumulative Performance (in %) - Share Class LD
Marketing Material DWS Investa Equity Funds - Germany March 2018 As at 29/03/2018 Fund Data Investment Policy German blue chips from the DAX index. Performance Performance - Share Class LD (in %) Fund
More informationI. CALL TO ORDER ROLL CALL PLEDGE OF ALLEGIANCE APPROVAL OF AGENDA V. PUBLIC COMMENT NEW BUSINESS
I. CALL TO ORDER AGENDA RETIREE HEALTH CARE TRUST BOARD SPECIAL MEETING MONROE COUNTY BOARD OF COMMISSIONERS CHAMBERS ROOM FRIDAY, OCTOBER 28, 2016 11:30 A.M. 125 E. SECOND STREET MONROE, MI 48161 (734)
More informationAn introduction to Invesco s Equity Long/Short Strategies
An introduction to Invesco s Equity Long/Short Strategies This marketing document is exclusively for use by Professional Clients and Financial Advisers in Germany. This document is not for consumer use,
More informationDBEU Xtrackers MSCI Europe Hedged Equity ETF
Xtrackers MSCI Europe Hedged Equity ETF ETF.com segment: Equity: Developed Europe - Total Market Competing ETFs: HEZU, DBEZ, FLEH, HFXE, DEZU Related ETF Channels: Developed Europe, Total Market, Currency
More informationURTH ishares MSCI World ETF
ishares MSCI World ETF ETF.com segment: Equity: Developed Markets - Total Market Competing ETFs: BOTZ, SNSR, RFDI, FDRR, JPGE Related ETF Channels: Total Market, Broad-based, Vanilla, Equity, Size and
More informationDWS Invest Global Agribusiness
Marketing Material DWS Invest Global Agribusiness Equity Funds - Sectors/Categories January 2019 As at 31/01/2019 Fund Data Investment Policy Agriculture has developed into a dynamic growth market across
More informationVAA Value Strategy PLUS
VAA Value Strategy PLUS The Key to Success: Value stocks with the PLUS of hedging and systematic premium income Marketing documents The Basis of the Investment Strategy "Collateral Security Margin" Benjamin
More informationVT Vanguard Total World Stock ETF
Vanguard Total World Stock ETF ETF.com segment: Equity: Global - Total Market Competing ETFs: ACWI, MJ, XMX, ACIM, DRIV Related ETF Channels: Total Market, Broad-based, Vanilla, Global, Equity, Size and
More informationDAX Horizons DAX Germany ETF
Horizons Germany ETF ETF.com segment: Equity: Germany - Large Cap Competing ETFs: Related ETF Channels: Large Cap, Broad-based, ESG, Vanilla, Europe, Equity, Germany, Size and Style Find more ETFs with
More informationVIDI Vident International Equity Fund
Vident International Equity Fund ETF.com segment: Equity: Global Ex-U.S. - Total Market Competing ETFs: IQDF, IFV, MOTI, IQDE, IQDY Related ETF Channels: Smart-Beta ETFs, Total Market, Broad-based, Multi-factor,
More informationFINX Global X FinTech ETF
Global X FinTech ETF ETF.com segment: Equity: Global Technology Competing ETFs: IXN, CIBR, IPAY, SOCL, AIQ Related ETF Channels: Technology, Broad-based, Vanilla, Equity, Sectors Find more ETFs with our
More informationSince inception (% p.a.) Global Emerging Markets MSCI Emerging Markets Relative
QUARTERLY UPDATE GLOBAL EMERGING MARKETS QUARTER 4, 2017 FOR INSTITUTIONAL INVESTORS IN THE US ONLY Driven by fundamental research, we aim to build high-conviction, stock-focused emerging markets portfolios
More informationSample Report PERFORMANCE REPORT I YOUR FUND
Produced on //28 Data as of 6/3/28 PERFORMANCE REPORT I 5 East 57 th Street, Floor, New York, NY 22 Tel (22) 248-532 Fax (646) 45-884 7 Seventh Avenue, Suite 2, Seattle, WA 98 Tel (26) 47-254 Fax (26)
More information3A Alternative Funds. 3A Multi Strategy Fund (USD, EUR, CHF, GBP)
3A Alternative Funds is a SICAV (Société d'investissement à Capital Variable) established under of the Luxembourg Law of 20 December 2002 and authorised for public distribution in Switzerland as a fund
More informationBOTZ Global X Robotics & Artificial Intelligence ETF
Global X Robotics & Artificial Intelligence ETF ETF.com segment: Equity: Developed Markets - Total Market Competing ETFs: URTH, SNSR, RFDI, FDRR, JPGE Related ETF Channels: Total Market, Broad-based, Artificial
More informationEXECUTION POLICY JANUARY 2018
EXECUTION POLICY JANUARY 2018 OVERVIEW We are active equity specialists, crafting high-conviction portfolios for client-focused solutions. Investment excellence is at the heart of our business. This policy
More informationMan AHL Diversified Markets EU
This material is of a promotional nature. Man AHL Diversified Markets EU FUND AIM Man AHL Diversified markets EU provides investors access to the AHL Diversified Programme. It aims to generate returns
More informationAdditional series available. Morningstar TM Rating. Funds in category 363. Fixed income % of fixed income allocation
Sun Life BlackRock Canadian Balanced Fund Investment objective Series A $12.4584 Net asset value per security (NAVPS) as of August 20, 2018 $0.0128 0.10% Benchmark Blended benchmark Fund category Canadian
More informationEQWS Invesco Russell 2000 Equal Weight ETF
Invesco Russell 2000 Equal Weight ETF ETF.com segment: Equity: U.S. - Small Cap Competing ETFs: EWSC, IWM, IJR, VB, SCHA Related ETF Channels: North America, Equal-Weighted, Smart-Beta ETFs, U.S., Broad-based,
More informationVLUE ishares Edge MSCI U.S.A. Value Factor ETF
ishares Edge MSCI U.S.A. Value Factor ETF ETF.com segment: Equity: U.S. - Total Market Value Competing ETFs: QVAL, FTVA, IUSV, FAB, VLU Related ETF Channels: North America, Smart-Beta ETFs, U.S., Value,
More informationFactsheet: Deutsche Invest I Global Thematic
Marketing Material Factsheet: Deutsche Invest I Global Thematic Equity Funds - Sectors/Categories June 2018 As at 29/06/2018 Fund Data Investment Policy Within this subfund, fund management invests in
More informationMorgan Stanley Investment Funds Global Opportunity Fund
INVESTMENT MANAGEMENT For Marketing Purposes Only FACTSHEET DATA AS OF OCTOBER 31, 2017 Morgan Stanley Investment Funds Global Opportunity Fund Investment objective Seeks long-term capital appreciation
More informationBSCI Invesco BulletShares 2018 Corporate Bond ETF
Invesco BulletShares 2018 Corporate Bond ETF ETF.com segment: Fixed Income: U.S. - Corporate Investment Grade Ultra-Short Term Competing ETFs: IBDH Related ETF Channels: Fixed Income, Corporate, Bullet,
More informationPAF Invesco FTSE RAFI Asia Pacific ex-japan ETF
Invesco FTSE RAFI Asia Pacific ex-japan ETF ETF.com segment: Equity: Developed Asia-Pacific Ex-Japan - Total Market Competing ETFs: FPA, EPP, SCIX Related ETF Channels: Smart-Beta ETFs, Total Market, Developed
More informationWDIV SPDR S&P Global Dividend ETF
SPDR S&P Global Dividend ETF ETF.com segment: Equity: Global - High Dividend Yield Competing ETFs: FGD, SDIV, DEW, LVL, FDVV Related ETF Channels: Smart-Beta ETFs, Global, Dividends, Dividend, Equity,
More informationIXG ishares Global Financials ETF
ishares Global Financials ETF ETF.com segment: Equity: Global Financials Competing ETFs: DFNL Related ETF Channels: Broad-based, Vanilla, Global, Equity, Financials, Sectors Find more ETFs with our ETF
More informationMOTI VanEck Vectors Morningstar International Moat ETF
VanEck Vectors Morningstar International Moat ETF ETF.com segment: Equity: Global Ex-U.S. - Total Market Competing ETFs: IQDF, IFV, VIDI, IQDE, IQDY Related ETF Channels: Smart-Beta ETFs, Global Ex-US,
More informationFDM First Trust Dow Jones Select MicroCap Index Fund
First Trust Dow Jones Select MicroCap Index Fund ETF.com segment: Equity: U.S. - Micro Cap Competing ETFs: PZI, WMCR, IWC Related ETF Channels: North America, U.S., Micro-cap, Smart-Beta ETFs, Fundamental,
More informationACWX ishares MSCI ACWI ex U.S. ETF
ishares MSCI ACWI ex U.S. ETF ETF.com segment: Equity: Global Ex-U.S. - Total Market Competing ETFs: CWI, VEU, VXUS, IXUS, DBAW Related ETF Channels: Total Market, Broad-based, Vanilla, Equity, Global
More informationAFC VIETNAM FUND UPDATE
Fund Category Vietnam Public Equities Country Focus Subscriptions Redemptions Benchmark Fund Manager Investment Manager Investment Advisor Fund Base Currency Vietnam Monthly at NAV (five business days
More informationGCOW Pacer Global Cash Cows Dividend ETF
Pacer Global Cash Cows Dividend ETF ETF.com segment: Equity: Developed Markets - Large Cap Competing ETFs: N/A Related ETF Channels: Equity, Smart-Beta ETFs, Dividend, Broad-based, Large Cap, Fundamental,
More informationKXI ishares Global Consumer Staples ETF
ishares Global Consumer Staples ETF ETF.com segment: Equity: Global Consumer Non-cyclicals Competing ETFs: ORG Related ETF Channels: Broad-based, Vanilla, Global, Consumer non-cyclicals, Equity, Sectors
More informationVGK Vanguard FTSE Europe ETF
Vanguard FTSE Europe ETF ETF.com segment: Equity: Developed Europe - Total Market Competing ETFs: EZU, IEUR, FLEE, BBEU, EURZ Related ETF Channels: Developed Europe, Europe, Broad-based, Total Market,
More informationAUSE WisdomTree Australia Dividend Fund
WisdomTree Australia Dividend Fund ETF.com segment: Equity: Australia - High Dividend Yield Competing ETFs: Related ETF Channels: Smart-Beta ETFs, Australia, Dividend, Broad-based, Dividends, Asia-Pacific,
More informationMan AHL Diversified Futures Ltd
For investment professionals only. Not for public distribution. Man AHL Diversified Futures Man AHL Diversified Futures (the "Company") is a futures and options fund and will invest, without limitation,
More informationNavigating Emerging Market Turbulence
Navigating Emerging Market Turbulence Susan Rohe November 2018 FOR PROFESSIONAL CLIENTS / QUALIFIED INVESTORS ONLY Learning Objectives 1 Emerging markets: Looking beyond the volatility 2 Current landscape
More informationHSBC Global Investment Funds - Economic Scale Global Equity
HSBC Global Investment Funds - Economic Scale Global Equity S Share Class 31 Jan 2019 31/01/2019 Fund Objective and Strategy Investment Objective The Fund aims to provide long-term total return (meaning
More informationPIO Invesco Global Water ETF
Invesco Global Water ETF ETF.com segment: Equity: Global Water Competing ETFs: CGW, PHO, FIW, TBLU Related ETF Channels: Water, Vanilla, Theme Investing, Global, Equity, Sectors Find more ETFs with our
More information2nd Quarter 2018 Webcast
2nd Quarter 2018 Webcast Classic Large Cap Value Equity Presented by James J. Clarke Director of Fundamental Research & Portfolio Manager This material may not be reproduced or used in any form or medium
More informationGuinness Global Equity Income Fund. INVESTMENT COMMENTARY February MSCI World Index
Guinness Income Fund INVESTMENT COMMENTARY February 2016 About the Fund is designed to provide investors with global exposure to dividend-paying companies. The Fund is managed for income and capital growth
More informationAlphaCentric Hedged Market Opportunity Fund
AlphaCentric Hedged Market Opportunity Fund HMXAX HMXCX HMXIX Q1 2018 Presentation Seeks to achieve capital appreciation with lower overall volatility than the equity market For Registered Investment Professional
More information