Commentaries

12 July 2021

Valentin Betrix

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

The RAM (Lux) Systematic Funds - Long/Short European Equities Fund (Class-I EUR net of fee*) posted a performance of 0.71% in June, bringing YTD performance to 12.47%. 

The fund was up in June while European Equities kept their march higher despite a more hawkish Fed at the beginning of June. The Fed change of stance on current inflation risks led to profit-taking in Equities and some reversal of prior months’ Value out-performance of Growth. Despite the Value reversal which impacted our Long Value and Machine Learning books, good performance of our Long Momentum engines and of our Short single names’ selections helped the fund progress. Good Long selection within the shipping industry and within Health-Care stocks contributed very positively to the net performance of our book. On the Short side, the correction of some of our overvalued Pharmaceuticals, Airlines and Application Software short positions helped the fund progress. The fund increased net allocation to Consumer Discretionary and Financials picks, while reducing our net long exposure to Industrials, still the largest net Long in the book.

Source: RAM Active Investments.