Global Allocation FI

Global macro fund which aims to maximize investors’ middle and long-term returns by using a dynamic optimization of the exposure between different asset classes and risk levels.

Global Allocation targets positive double digit returns in any market environment.

• Strategy
  • Global Macro.
  • Flexibility in assets selection and risk levels exposure.
  • Investment process focused on foreseeing the next big market movements and to defining a catalyst for them to unfold.
  • The fund combines long-term investments with short-term tactical.
  • Risk management covers the whole investment process.
• Investment Universe
  • The fund invests in developed markets bonds and equities with a European focus mainly through listed futures and options. It also invests in commodities through listed futures or ETF´s. The fund may invest directly in single bonds or equities.
• Exposure Levels
  • Maximum net exposure: 170%
  • Maximum equity short exposure: -50%
  • Maximum bond short exposure: -100%
  • Maximum currency exposure: 40% (major currencies other than EUR)

1.- The fund has very little correlation to its peers. Historical correlation to HFRI Global Macro Index is only 8,14%

2.- Since mid 2012, when European markets initiate the recovery after the “Euro Breakup Scare”, generally Global Macro strategy has not been able to adapt to the new scenario of massive Central Banks intervention, especially in the interest rate space. Global Allocation´s strategy captured perfectly the new scenario and has performed handsomely (30% GAGR) while HFRI Macro has barely performed (1,08% CAGR).

3.- More than 6 years of track record under a UCITS structure and 4 more as an investment vehicle structure. With proven lower leverage than its peers with much greater liquidity.