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Wednesday, July 24, 2013

Alix Capital Q2 2013 report

Key findings:

  • UCITS absolute return fund's assets under management increased by 5.60% during the second quarter of 2013 and by 17.85% since the beginning of the year reaching a new high of EUR 163 billion
  • Five out of eleven strategies display positive performance since the beginning of the year, Long/Short Equity being the best performer with +3.39%.
  • The best performing UCITS absolute return funds since the beginning of the year are the ML Pegasus UCITS Fund, a long/short equity fund managed by Clareville Capital up 28.22%, followed by the Odey UK Absolute Return Fund, also a long/short equity fund managed by Odey Asset Management, up 23.92% and the ML DUNN World Monetary and Agriculture Fund, a CTA fund managed by US based manager Dunn Capital up 21.10% since the beginning of the year.
  • The Plurima Unifortune Global Strategy Fund is the best performing fund of funds since the beginning of the year with a performance of 5.53% at the end of June while the Credit Suisse Prima Multi-Strategy is the largest one by assets with EUR 619 million.
  • The Morgan Stanley Fund logic and the Merrill Lynch Invest platforms are the largest fund platforms in term of number funds with 18 single UCITS absolute return funds while Deutsche Bank DB Platinum is the largest platform in term of assets with EUR 2.56 billion at the end of June 2013.

Louis Zanolin, CEO of Alix Capital, says: "UCITS absolute return fund assets continue to grow during the second quarter of 2013. This is explained by several factors. The continuous shift from long only to absolute return fixed funds is probably the most important reason currently. Given the size of the long only fixed income market, one can expect this trend to continue if not to accelerate during the next quarters. Other key important drivers are linked to more secular trends such as the continuously increasing need for highly regulated and liquid products able to deliver consistent absolute returns.

Louis Zanolin further adds: We are seeing more and more US based investment managers launching UCITS funds.Fund platforms and their benefits in terms of easy market access are playing an essential role in this development. While they still only account for 5% of the total number of funds, US based managers represent 37% of all platform funds."

In our view, the UAI Industry Report gives access to the most comprehensive information about the UCITS absolute return funds universe. Nara Capital has a long track record in the sector and is managing investors' portfolios.

The report can be purchased on the UCITS Alternative Index website or by contacting Alix Capital.

This article was published in Opalesque UCITS intelligence.
Opalesque UCITS intelligence
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