Commentaries

12 August 2020

Emmanuel Hauptmann

RAM (LUX) SYSTEMATIC FUNDS – LONG/SHORT GLOBAL EQUITIES

The RAM (Lux) Systematic Funds - Long/Short Global Equities Fund had its best month since launch in July, up 5.8%, and has recovered within the last six weeks the prior months’ drawdown, bringing its year-to-date performance to +1.8%. Both Long and Short books have contributed very positively to the fund’s performance, with our agnostic Machine Learning Long and Short engines providing the most alpha, our Momentum books continuing on the last months’ good performance while our Value engines finally recovering. Our Long and Short books in South Korea and Hong Kong were the strongest contributors over the month, with significant alpha generated on both sides in each country. We had positive alpha generated by our Long US picks with good IT and Industrials picks in the country. At a sector level, Consumer Discretionary was the sector with the strongest alpha across Longs and Shorts.
The fund is net Long Health Care, Consumer and IT sectors, while net Short Energy. At a country level, the fund is net Long South Korea, Hong-Kong and Japan, while overall net Short France and Canada.

Source: RAM Active Investments.