Commentaries

10 June 2021

Emmanuel Hauptmann

RAM Active Investments RAM (Lux) Systematic Funds -Emerging Markets Equities

The RAM (Lux) Systematic Funds - Emerging Markets Equities Fund (Class-PI USD net of fee) went up by 1.42% over the month, against 2.32% for MSCI EM TR net, bringing the fund YTD performance to 16.5% versus 7.3% for the market-cap based index.

Emerging Markets continue their march higher along with global Equities boosted by the current positive economic momentum. While Momentum and Value books out-performed the market, our Low Risk Income books lagged significantly as investors shunned low beta plays in the market Our Taiwanese stock selection, best performance driver of the fund since beginning of the year, detracted performance over the month as Taiwanese Equities were by some profit-taking after a resurgence of Covid cases in the country, which abated since. The fund has an overweight position in Financials, a high number of Asian banking and brokerage companies being selected, as well as in Industrials and Consumer Staples. The IT sector and Materials are being added to by the strategies in the latest fund rebalancings.

Source: RAM Active Investments