Commentaries

10 June 2021

Valentin Betrix

RAM Active Investments RAM (Lux) Systematic Funds - Long/Short Emerging Markets Equities funds Maxime Botti Partner & Senior Systematic Equity Fund Manager

The RAM (Lux) Global Equities Sustainable Alpha Fund (Class-I USD net of fee*) posted a performance of -0.47% in May.

Emerging Markets continued their march higher along with global Equities boosted by the current positive economic momentum. On the Long side of the book, while our Momentum and Value engines outperformed the market, our Low Risk Income books lagged significantly as investors shunned low beta plays in the market. The Short side of the book contributed positively to performance, as many names shorted in our short Machine Learning and short Value engines finished the month in negative territories. The fund has a net long position in Financials, a high number of Asian banking and brokerage companies being selected there, and a net long position in Taiwan, which detracted performance over the month as Taiwanese Equities were hit by some profit-taking after a resurgence of Covid cases in the country, which abated since. The fund has a net short position in Health Care, mainly in Biotechnology stocks.

Source: RAM Active Investments.