Commentaries

13 April 2021

Emmanuel Hauptmann

RAM Active Investments  RAM (Lux) Systematic Funds - US Sustainable Equities Maxime Botti Partner & Senior Systematic Equity Fund Manage

The RAM (Lux) Systematic Funds - US Sustainable Fund (Class-PI USD net of fee*) posted a strong performance of 6.03%, which brings 1st quarter outperformance to 1% vs the benchmark.

On the back of strong economic numbers, the MSCI North America Index returned 3.78% in March. As rates normalization continued into March, the fund benefited from the market rotation from growth toward value names accelerated. Across sectors, the models picked candidates that are very well positioned in a market environment rewarding strong fundamental profiles. The fund’s underweight in mega-cap, such as TSLA, AAPL and MSFT helped reduced volatility and improved the return of the overall selection. Following the correction in IT names, the strategy is increasing its exposure to the sector, as more names are becoming attractive. The sustainability profile of the fund remains strong, with a AA MSCI Rating and Carbon Intensity 63% lower than the Benchmark (50 Vs 135 TCO2/$M Sales). Low carbon companies performed in line with the market, while ESG leaders slightly overperformed.

Source: RAM Active Investments