The fund aims to deliver positive performance in the medium term through a diversified multi-asset class portfolio which reflects the invest manager’s view on global markets. The fund invests more than 51% of its assets in third parties funds or ETFs UCITS compliant. The fund may hold no more than 70% of its assets in equities or equity-related securities. The fund may use derivatives in order to achieve investment gains, reduce risk or manage the fund more efficiently.
Legal Structure: SICAV Ucits V
Fund Manager: SWM SA
Custodian: State Street, LUX
Reference Currency: EUR
AuM: EUR 13.97 M
NAV Frequency: Daily
Registered in: LUX, CH, IT
Management Fee: 2%
Performance Fee: 10% HWM
NAV as at 30.09.2021: EUR 111.02
ISIN: EUR (A): LU0988534649
CHF (A) Hedged: LU0988535026
USD (A) Hedged: LU1057883552
Share Type: Accumulation
Targeting investors who expect positive returns in the medium term through active asset allocation
decisions and a complete multi-asset class portfolio solution.
Fund manager insights
During September 2021, the Explorer Fund of Funds generated a negative and very disappointing return of 2.01% bringing the YTD performance around 1%. The month was characterized by a risk-off attitude that hit all asset classes including those which usually tend to rise or at least lose less during downwards phases, such as precious metals, government and corporate Investment Grade bonds. The reason of what happened is probably connected to inflation which could last longer than expected and could push central banks to raise rates, which wouldn’t be good news for Gold, Govies and the Fixed Income area
in general. The diversification of the fund portfolio remains very high covering all asset classes, from equities to alternative strategies, even if this time it didn’t help to avoid losing money. In any case we still believe that the best way to generate interesting returns with low volatility is to keep the portfolio very well diversified across all asset classes. For the next months we expect to remain quite conservative although opportunistic. For example, we believe there are still good opportunities in some equity sub sectors
of the “Growth” area (i.e., Clean Energy) and in Asia (China). For what concerns Fixed Income we will be increasing the weight in Emerging Markets funds as well as Inflation Linked strategies as we expect the CPI to remain at the highest levels of the past 10 years.