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Alternative Market Briefing

The Corona Fighters Report 36: Asset managers who delivered in the downturn

Friday, May 29, 2020

Bailey McCann, Opalesque New York:

Amid the current market turmoil, this is our regular report on hedge funds and alternative asset managers who are bucking the trend.


Sustainable Global Macro

JP Morgan's Global Macro Sustainable Fund was up 0.1% in April and is up 2.3% year to date following a quarter that was a bit of a roller coaster for some global macro strategies.

JP Morgan have been managing absolute return global macro strategies since 2012. The Global Macro Sustainable Fund was launched in 2019 following conversations with investors around building ESG into investment strategies. The investment process is anchored round macroeconomic research, where the team look to establish and maintain a set of approximately nine themes that encompasses structural and cyclical trends in the global macroeconomic environment. From here, multi-asset strategies are devised to best monetise the top down themes. For current holdings, the team engage with company management directly and through the JPMAM Investment Stewardship team, who oversee proxy voting across the platform.

Since the fund launched in late August 2019, AUM has grown significantly, with approximately €630m under management.

Multi-asset outperforms

Nordea's multi-asset strategy was up 4.2% in April and is up 6.0% year to date, according to performance information for investors reviewed by Opalesque.

The multi-asset fund uses nine low-correlation investment strategies to provide dynamic exposure to multiple asset classes, within a universe consisting of a subset of equities, fixed income securities, and currencies. The fund uses pair trades in order to create a market neutral portfolio. The fund has a target return of 1 month Euribor + 7%

Nordea's asset management arm is part of Nordea Group the largest financial services group in the Nordic region. The first quarter was generally positive for Nordea. In a call with analysts on first quarter performance, Nordea Bank Chief Executive Frank Vang-Jensen said that the organization wasn't exposed to many of the industries felt the deepest impact from the pandemic drawdown. Going forward, the asset management group is focused on maintaining a bias toward quality within its portfolios. ***

Last issue of The Corona Fighters Report: Report 35.

Opalesque's Corona Fighters reports are open articles. To see all past reports, type Corona Fighters in our search engine: www.opalesque.com/index.php

***

Disclaimer: This is not investment advice. Opalesque has not verified this information and gives no warranty of accuracy or completeness. Past performance is not indicative of future results. See our Terms & Conditions for more information.

***


WEBINARS:

Meet 10 fund managers and learn how and why their strategies delivered positive returns and/or protected capital during the Corona led market meltdown! Each webinar lasts one hour and features five managers.

"A well-chosen topic of discussion and a great set of speakers to hear and learn from."
"I enjoyed the webinar and found the introduction to the strategies to be diverse and insightful.
"Very resourceful and insightful."


VIDEO REPLAY of CORONA FIGHTERS - Episode 1 webinar:
www.opalesque.com/webinar/#pw4

VIDEO REPLAY of CORONA FIGHTERS - Episode 2 webinar:
www.opalesque.com/webinar/#pw5


Video replays of Opalesque's past webinars can be found here: www.opalesque.com/webinar/#pastwebinar


Don't miss our new webinars!


How quants achieve material improvements in ESG investment performance

Time: Thursday, June 18th, 10:00 am EST
Details and registration: www.opalesque.com/webinar/ESG/


Corona Fighters Episode 3

Meet more asset managers who delivered during the melt down

Time: Tuesday, June 23rd, 10:00 am EST
Details and registration: www.opalesque.com/webinar/



Opalesque's upcoming webinars: www.opalesque.com/webinar/


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