H2O announced the launch of Fidelio, a long\u2013short equity fund which aims to generate an absolute return of 5% p.a. over a recommended 3?year investment horizon. The funds objective is to keep volatility below that of global equity markets within this timeframe. It will also seek to exhibit a low correlation to the major global equity market indices. To this end, the fund will take both long and short positions, mainly on economic sectors and listed companies.\u00a0\u00a0<\/p>\n
Against a market backdrop characterized by low interest rates, excessive regulation and
\nmechanized investment strategies, the dispersion of risk premiums across equity markets has
\nreached unprecedented levels, thereby offering many unique arbitrage opportunities for active
\nrelative?value managers. H2O Fidelio aims to tap value out of this distinctive environment.\u00a0\u00a0<\/p>\n
First, the fund benefits from the long?standing global macro expertise of the H2O management
\nteam. This \u201ctop?down\u201d component is critical to seize the shifts in paradigm, the swings in market
\nfashions and the correlation rotations that impact the equity asset class as a whole. It enables the
\nteam to focus solely on those strategies that are relevant to the on?going environment.<\/p>\n
H2O Fidelio may for instance draw value from the inefficiencies inherent to today\u2019s equity The positive side of this multi?strategies approach is that it does not necessitate the Since its inception on October 25, 2016, the USD?denominated I share class of H2O Fidelio has H2O announced the launch of Fidelio, a long\u2013short equity fund which aims to generate an absolute return of 5% p.a. over a recommended 3?year investment horizon. The funds objective is to keep volatility below that of global equity markets within this timeframe. It will also seek to exhibit a low correlation to the major global equity market indices.<\/p>\n","protected":false},"author":20,"featured_media":61109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1471],"tags":[1687,1655,1723,1690,1651,1711,1437,1691,2243,1692,1952,1680],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/61111"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=61111"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/61111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/61109"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=61111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=61111"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=61111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}H2O Fidelio also relies on a \u201cbottom?up\u201d process managed by Gonzague Legoff who has been
\nrunning global macro funds since 2003. In line with H2O\u2019s style, it is a global, judgmental,
\nopportunistic and unconstrained style that is based upon a set of convictions and a search for
\ndiversification.<\/quote><\/p>\n
\nmarkets. According to Gonzague Legoff and Christophe Chappuis, the fund\u2019s co?managers,
\n\u201cInvestors\u2019 constraints generate the best sources of performance. As most asset management
\ncompanies organize their equity research & management teams along geographical lines, they
\nbreed regional arbitrage opportunities between stocks belonging to the same sectors and
\nexposed to the same markets.\u201d<\/em><\/p>\n
\ncomprehensive and systematic coverage of an excessively large security investment universe by
\nmeans of a crowd of equity analysts. It requires the opportunistic singling out of a few specific
\nthemes and their blending with the strategic positions.\u00a0\u00a0<\/p>\n
\ndelivered a +3.9% positive return as at February 13, 2017[[Source H20 Asset Management, 13.02.2017.\u00a0\u00a0Figure is net of fees.\u00a0]].<\/p>\n","protected":false},"excerpt":{"rendered":"