Funds

• Dynamic Allocation
• Emerging Opportunities
• Euro Fixed Income
• European Corporate Bonds
• European Mid & Small Cap
• European Opportunities
• European Selection
• European Subordinated Bonds
• Flexible Credit
• Global Convertibles
• Global High Dividend
• Global High Yield
• Italian Opportunities
• Italian Value
• Japan Opportunities
• Market Neutral
• Multi-Asset Absolute Return EUR
• Multi-Asset Actiprotect
• Multi-Asset Diversified
• Multi-Asset Inflation Shield
• US Selection
• World Opportunities

The fund's objective is to deliver a positive absolute performance and to outperform its benchmark by circa 3% per annum over a 5 year period. It follows a flexible and dynamic approach, with fundamental analysis. The investment process is built on a balanced top-down & bottom-up approach with the aim of targeting securities with intrinsic value higher than current share price. The top-down part of the process consists in setting up the portfolio's asset allocation based on a macroeconomic and sector trends analysis. The bottom-up part of the process translates into pure stock-picking. 

The fund's objective is to provide investors with capital growth by investing mainly in liquid euro denominated investment grade government and corporate bonds. The fund focuses on the most attractive investment themes defined through a disciplined top-down analysis that drives portfolio allocation, duration [0-8 years], curve positioning and credit quality. OYSTER Euro Fixed income is a flexible, actively managed portfolio and is designed to exploit bond market opportunities outside of the main allocations, by allowing the manager to allocate up to 1/3 of the portfolio across non-euro denominated, high yield and emerging debt as well as leave up to 15% of the fund’s assets unhedged to EUR.

The fund's objective is to provide investors with capital growth by investing mainly in European investment grade corporate bonds. Actively managed and conviction based, OYSTER European Corporate Bonds follows a mix of top-down and bottom-up approaches. The former drives the allocation between financial and non-financial bonds, rating and seniorities, while the latter aims to identify higher yielding, mispriced issues with attractive economic and financial perspectives through our relative value analysis.

The fund's objective is to provide investors with capital growth by investing mainly in small and mid cap European companies. OYSTER European Mid & Small Cap is a concentrated, actively managed, style-agnostic portfolio focused on European companies with a market capitalisation ranging from €200Mn to €5Bn. Stock picking is based on in-house fundamental research and it centres on high quality and cash-generative companies with strong management track records and solid balance sheets. A robust and disciplined risk management process both support strong downside risk protection as well as serves to identify attractive oversold contrarian.

The fund's objective is to provide investors with capital growth by investing mainly in European equities. OYSTER European Opportunities is an actively managed, conviction-based, style-agnostic portfolio. Stock picking is based on in-house fundamental research and is the main source of alpha generation. The investment philosophy is to focus on high quality companies with a strong competitive edge and solid balance sheet, either suffering from short-term pressures, or selected as longer-term recovery plays. A robust and disciplined risk management process both support strong downside risk protection as well as serves to identify attractive oversold contrarian opportunities.

The fund's objective is to provide investors with capital growth by investing mainly in European equities. OYSTER European Selection is a concentrated, actively managed, style-agnostic portfolio. Stock picking is based on in-house fundamental research and is the main source of alpha generation. The investment philosophy is to focus on high quality companies with a strong competitive edge and solid balance sheet, either suffering from short-term pressures, or selected as longer-term recovery plays. A robust and disciplined risk management process both support strong downside risk protection as well as serves to identify attractive oversold contrarian opportunities.

The fund's objective is to provide investors with capital growth by investing in subordinated debt instruments issued by banks, insurance and non-financial companies. The investment approach combines a macro economic analysis with a bottom-up selection process, aiming at building a portfolio that is diversified by sector, country and seniority. The portfolio managers first define the optimal asset allocation between sectors and different bonds seniorities, based on relative value analysis and then identify the strongest conviction issues. Bonds are selected with a strong emphasis on liquidity, the inherent risk of issues / issuers and the regulatory framework.

The fund's objective is to provide investors with capital appreciation by investing in the credit market through a portfolio of European fixed and/or floating rate securities and money market instruments. The investment process starts with idea generation that is supported by primary market issues, theme identification, discussions with market makers and monitoring of the secondary market. The alpha is expected to be generated by drivers such as Event-Driven, Carry, Trading and Market overlay. Exposure to sectors, countries and ratings is unconstrained and is a result of the bottom-up analysis and instrument selection. A top-down overlay is used to manage the credit exposure risk of the portfolio.

The fund’s objective is to provide investors with capital growth, mainly by investing in convertible bonds globally. The fund targets companies and sectors that are temporarily out-of-favour, whose convertible bonds are trading close to bond value. The managers select instruments with favourable credit and equity fundamentals as well as positive asymmetry, which should capture higher and larger positive equity returns, lower and fewer negative returns.

The fund's objective is to provide investors with capital growth by investing mainly in quality companies with robust and growing dividend yields. The investment process starts with a proprietary quantitative screening focusing on liquidity, dividend, profitability and balance sheet quality. It narrows a worldwide universe of about 35,000 stocks down to 600 on which a qualitative analysis is performed. A strong business franchise and financial position, and a commitment to dividend payments are the main criteria.

The fund's objective is to provide investors with capital growth by investing mainly in high yield bonds issued by companies globally. The fund employs a bottom-up approach based on credit analysis and risk control discipline. The core of the portfolio consists of BB and B rated bonds with opportunistic allocation to selective CCC and non-rated issues. The key investment criteria considered are: positive free cash flow combined with deleveraging, sound management, good asset protection, strong competitive position and access to capital. The portfolio is broadly diversified with the goal of reducing the overall portfolio’s volatility.

Managed in accordance with PIR Regulation, the fund's objective is to provide investors with capital growth by investing mainly in Italian equities. OYSTER Italian Opportunities adopts a flexible, style-agnostic approach investing across a large portion of the market capitalization spectrum. The fund follows a process of mixing top-down analysis to define macroeconomic scenarios at global and local levels and bottom-up stock selection focused on companies with a competitive edge and where we have a constructive opinion of the quality of management. The portfolio is mainly invested in mid caps and large caps. 20% of the fund may be devoted to special situations, turnaround stories, or restructuring companies on an opportunistic basis to enhance performance potential.

Managed in accordance with PIR Regulation, the fund's objective is to provide investors with capital growth by investing mainly in Italian equities having a market capitalisation below €3Bn. The manager focuses on under-covered companies neglected by analysts, including niche leaders, and bases his investment policy on fundamental analysis. Stock-picking is based on a bottom-up approach and a value bias, thus focusing on companies attractively priced relative to their fair value.

The fund's objective is to provide investors with capital growth by investing across a diversified set of carefully selected Japanese equities. A style-agnostic and conviction-based portfolio, the fund will typically invests in 40 to 60 companies that can be split in two categories, anchor stocks that include mid and large caps that are typically more immune to economic cycles - and macro sensitive mega and large caps. Investment decisions rely on thorough fundamental analysis and positions are selected according to the upside potential of each company relative to its intrinsic value. The portfolio has exhibited less volatility to the market over time.

The fund's objective is to provide investors with capital growth by investing in a portfolio of European equities on a long and short basis. OYSTER Market Neutral aims to be less volatile than the European equity market and is managed using a robust and systematic investment process with a strict volatility range of 4-7%. Target beta is close to zero. Stock selection for the long positions in the portfolio is based on a diversified set of 5 factors with the goal of generating consistent performance in a wide range of market and macroeconomic conditions. The short bucket is mainly composed of index futures. The final portfolio is constructed using a risk-based methodology that allocates and balances risk and capital.

A lower-risk, diversified multi-asset fund designed to generate bond-like absolute returns, with a strong focus on capital preservation and liquidity. Benchmark agnostic, the fund has fixed income at its heart, while also investing in equities (max. 25%) and selective special opportunities to add diversification and generate alpha within a strict risk budget. Investment ideas are generated by thorough research across six unique asset classes and covering about 23 countries, providing multiple performance drivers and allowing the fund to identify investment ideas in any market environment.  Active risk management is embedded in every step of the investment process.  Currency risk is hedged back to EUR at a minimum of 95%.

A systematic, risk-based multi-asset fund focused primarily on risk-control, targeting 2/3 of equity market returns but with a lower-risk profile than equities. Benchmark agnostic, the fund can invest across bonds, equities, currencies, gold and cash in order to access the most appropriate performance drivers given the prevailing market environment. The backbone of this robustly risk-managed portfolio is a proprietary quantitative model that dynamically allocates and balances both risk and capital. Downside protection is specifically managed with our proprietary dynamic drawdown hedging strategy.

A flexible, high conviction multi-asset solution designed to deliver asymmetric equity-like returns with less risk than traditional equities. By taking a dynamic asset allocation and risk management approach, the fund is able to navigate through diverse market conditions. Benchmark agnostic, the fund invests across bonds, equities, special opportunities and cash. Investment ideas are generated by thorough research across six unique asset classes and a broad universe of about 23 countries. Portfolio construction follows a robust but pragmatic approach and is designed to be resilient to market shocks.

The fund's objective is to provide investors with capital growth, while having a low correlation with equity markets via a mixed-asset portfolio of equities, bonds, cash and money market instruments. The manager's objective is to deliver a return of inflation + 3% over a cycle across the different inflationary environments. The process starts by identifying the environment based on the inflation and macroeconomic outlook. The manager has defined five regimes and each one has a preset asset allocation. Equity selection is done through a 6-factor scoring model whose weightings depend on the defined regime.

The fund's objective is to provide investors with capital growth by investing mainly in US equities. The strategy mixes top-down and bottom-up approaches. On a top-down basis, the manager aims to identify market cycles and investment themes through an analysis of over 100 economic and sentiment indicators. Subsequently, he determines the valuation methodology used for the bottom-up analysis: discounted earnings model in bull markets and relative valuation in bear markets. Stock-picking focuses on what the manager considers quality companies trading at a discount and with a catalyst.

The fund's objective is to provide investors with capital growth by investing in companies listed on worldwide stock markets. OYSTER World Opportunities adopts an approach of mixing positive longer-term views of solid, high quality growth companies, with shorter-term view recovery situations. The process starts with a proprietary quantitative screening to narrow down a large universe of stocks. The filtered stock universe is then subject to a bottom-up process focused on companies with a competitive advantage, strong management and robust cash generation. Positions selected for investment are allocated to based on their expected risk and return profile.