| Report Date | |
| Manager | |
| Fund Name | |
| Strategy | |
| Latest Return Date | |
| Latest Return | |
| Latest 6 Months | |
| Latest 12 Months | |
| Latest 24 Months | |
| Annualised Since Inception | |
| Inception Date | |
| FUM (millions) | |
| Fund Overview | PanAgora believes the best way to find opportunities in the global markets is to combine fundamental analysis with robust quantitative techniques in order to filter the investment universe and select the investments. The Fund invests primarily in listed equity securities from a global universe of developed markets and a select group of emerging market countries. The Fund's objective is to seek absolute returns by identifying and exploiting multiple inefficiencies that may exist in global equity markets. These inefficiencies are primarily exploited through the use of a long/short equity strategy which aims to construct a portfolio that is generally neutral to market movements. As such the performance of the investment strategy is largely independent of the market's performance. The Fund seeks to achieve its objective by using a diversified set of strategies that have low correlation to one another. In addition, because many of these strategies are designed to generate profit under different market conditions, their combination is expected to result in more stable returns over time than any individual strategy in and of itself. |
| Manager Comments | November performance was driven by the long-term portfolio (+0.71%), with strong performance coming from the US large cap stocks. Intermediate-term strategies contributed a marginal +0.02%. The short-term strategies contributed +0.18% in large part due to the success of trades prompted by the reconstitution of MSCI indices. In the long-term portfolio, IT (+0.79%), Health Care (+0.64%), and Consumer Discretionary (+0.55) were the largest sector contributors. The largest contributors in IT was Marvell Technology. Marvell remains a long position in the portfolio due to a good alpha score. In Health Care, a short in Tesaro was the largest contributor and remains a short position in the portfolio. The top performing position within Consumer Discretionary was a long position in International Game Technology. |
| More Information |
