Commentaries

10 June 2021

Emmanuel Hauptmann

RAM Active Investments  RAM (Lux) Systematic Funds - European Equities Maxime Botti Partner & Senior Systematic Equity Fund Manager

The RAM (Lux) Systematic Funds - European Equities Fund (Class-IP EUR net of fee*) posted a performance of 2.99% in May, while the MSCI Europe TRN€ Index returned 2.56%, bringing the year-to-date performance of the fund to more than 18%. 

As the economy retained strong positive momentum, European Equities progressed over the month with the  RAM European Equities Fund continuing to outperform the market, Strong performance of a number of our picks within Industrials, captured by our Value, Machine Learning and Momentum strategies contributed very positively, benefiting from the high dispersion of valuations and returns within the sector. Momentum stocks in Scandinavia kept contributing positively. The Low Risk engine was the sole detractor of alpha last month, as Low Risk stocks are shunned by investors globally. Our Large Cap selection was the strongest performer, Small and Mid-Caps in the fund lagging slightly after very strong performance in prior months. The fund’s largest sector overweight position remains in Industrials, but the position is slightly reduced currently in the book in favor of Materials, supported by strong commodity trends and profitability.

Source: RAM Active Investments