Commentaries

12 July 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 1.93% in June vs 2.75 for the MSCI USA TRN$ Index.

The MSCI USA TRN$ Index finished the month up 2.75% despite some volatility on the back of the start of QE tapering discussions, which encouraged a move lower in inflation breakevens. This  triggered an outperformance of Growth over Value, an underperformance of smaller cap stocks and a run up in stocks mentioned on WallStreetBets, non-profitable technology companies and long duration equities. In this challenging environment for fundamentally-driven stock picking, the Fund’s overweights in Information Technology and Healthcare provided positive allocation effects, while the overweight in Materials, the underweight in Energy stocks and the low-risk positioning of the Fund detracted performance. Low carbon companies and ESG leaders performed in line with the market in June. The sustainability profile of the fund remains strong, with a AAA MSCI Rating and Carbon Intensity 50% lower than the Benchmark.

Source: RAM Active Investments