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Unigestion launches macro risk-based multi-asset fund

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Unigestion has launched Uni-Global Cross Asset Navigator, a daily-liquidity, UCITS IV-compliant fund that allocates based on an assessment of the risks associated with the prevailing macroeconomic backdrop.

Targeting a return of three-month Libor + 4% per year over a full economic cycle with half the long-term risk of the stock markets, Uni-Global Cross Asset Navigator combines a risk-based approach to investment with in-depth macroeconomic analysis, enabling it to provide attractive return potential in most market environments. The fund starts off with a risk-diversified allocation to a large set of traditional (global developed and emerging equities, sovereign bonds, credit and commodities) and alternative (carry, momentum) risk premia. From here, the investment team dynamically adjusts the fund’s positioning based on its assessment of the economy and markets, aiming to capitalise on specific opportunities associated with macro themes or market dislocations.

Fiona Frick, CEO of Unigestion, says: “We strengthened our Cross Asset Solutions team considerably last year, hiring a team of three senior investment professionals with the specific intention of providing our clients with an expanded range of multi-asset investment solutions that meet their exact needs. Uni-Global Cross Asset Navigator is an attractive proposition for investors looking to make a multi-asset-class investment that combines the rigour of a risk-based allocation process with the need for tactical calls in today’s turbulent economic and market environments.” 

Unigestion’s 15-strong Cross Asset Solutions team is headed by Jérôme Teiletche. The Navigator’s portfolio management team is composed of the team of three managers hired last year – Jérôme, Olivier Blin and Guilhem Savry – who have significant joint experience in managing multi-asset risk-based portfolios. According to the managers:

“While we have a preference for growth assets, we think that the road ahead will be bumpy and volatile and that a number of government bonds will not offer the protection they have historically,” says Teiletche. “This leads us to favour other types of strategies such as momentum or specific hedging strategies. We are also seeking to benefit from opportunities in foreign exchange linked to the diverging economic cycles in North America and Europe, and from disruptions triggered by the oil crash. The global deflationary context means we are holding next to no commodities at the moment.”

 

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