Commentaries

10 May 2021

Valentin Betrix

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 performance of 3.86% in April, while the MSCI North America TRN$ Index returned 5.42%.

US equities rallied on the back of the continuation of the string of impressive US economic numbers, and the strong rebound of some mega-cap growth names in the index into the publication of their reports for Q1. Our selection has little exposure to those names, although the increase in the allocation to the Information Technology sector seen last month following the correction in IT names provided positive allocation effect. Our Momentum engines delivered strong alpha, with good picks in the Financials sector, while the low-risk positioning of the Fund and the Healthcare overweight detracted performance. Low carbon companies and ESG leaders slightly underperformed the benchmark. The Fund still offers a strong sustainability profile, with low carbon intensity and a AA MSCI Rating.

Source: RAM Active Investments