Lupus alpha All Opportunities Fund C

WKN: A0M 99W

ISIN: LU0329425713

Lupus alpha All Opportunities Fund1 combines long and short investments in a targeted manner. Its low-beta strategy is particularly suitable for investors wishing to generate positive added value over the long term from the alpha potential of small and mid caps with adequate returns and a low range of volatility.

 

Fund data

Current fund data as of 04/13/2021

Currency EUR
Issue price 139.09
Redemption price 132.47
Fund volume 103,82 Mio.
Launch date 21 January 2008
Minimum investment amount 500.000
Distribution frequency 9distribution
Portfolio managers Franz Führer, Gerald Rössel
Performance fee 620 %
Administration fee 51 %
Hurdle Rate 72 % p.a.
Subscription fee 4up to 5 %
High-Watermark 8 yes
Benchmark 3M-Euribor
Unit price determined daily
Fund price publication www.fundinfo.com
  • Source: Lupus alpha; gross performance (BVI method): The gross performance considers all costs incurred at Fund level (e. g. management fee) and assumes reinvestment of any distributions. Costs incurred at customer level such as sales charge and securities account costs are not included. Unless otherwise specified, all indicated performance data show the gross performance. Please note: Past per-formance is not a reliable indicator for future performance.
  • Source: Lupus alpha; the net performance assumes a model calculation based on an invested amount of EUR 1,000, the maximum sales charge and a redemption charge (see master data). It does not include individual costs of the investor, such as a securities account fee. (To this effect, please refer to the price list of your securities account provider.) Please note: Past performance is not a reliable indicator for future performance.
  • Volatility: Volatility is the range of variation of a security price or index around its mean value over a fixed period of time. A security is regarded as volatile if its price fluctuates heavily. Maximum loss 90 days: The maximum loss specifies an investor's potential loss if he had bought during the past 90 days at the highest price and sold at the lowest price. VaR 95 – 10: Value at Risk defines the level of loss which will not be exceeded within 10 days with a probability of 95%. VaR 99 – 10: Value at Risk defines the level of loss which will not be exceeded within 10 days with a probability of 99%. Sharpe Ratio: Sharpe Ratio is the excess return (Fund performance less money market rate) in relation to the range of variation (volatility) and shows the yield of the Fund per risk unit. The higher the Sharpe Ratio, the more yield has been generated in relation to the risk incurred. Maximum drawdown: The maximum drawdown is the largest percentage drop in value in a given period of time. It measures the amount the fund falls from its highest point to its lowest point in the selected timeframe.
  • The sales charge is the difference between the sales price and the unit value. The sales charge varies depending on the type of the Fund and the distribution channel and usually covers the advisory and distribution costs. The Distributor will demand the sales charge at its own discretion.
  • The management fee is the fee for managing the Fund and taken from the Fund's assets; it is paid to Lupus alpha for the management and administration of the Fund.
  • The performance fee is a performance-related remuneration depending on the performance or the achievement of specific objectives such as a better performance compared to a benchmark. The costs may also be levied if a pre-defined minimum performance has been achieved.
  • The hurdle rate means a specific minimum interest and/or profit threshold a Fund has to achieve in order to allow the investment company to participate in the Fund's profit.
  • Performance fees of investment companies are frequently bound by a high wa-termark - the all-time high of the Fund. This means that a commission entitlement arises only if that mark has been exceeded.
  • Distributing Funds do not reinvest the generated income, they pay out the income to the investor.
  • The pairs trade or pair trading is a market neutral trading strategy enabling traders to profit from virtually any market conditions: uptrend, downtrend, or sideways movement. This strategy is categorized as a statistical arbitrage and convergence trading strategy.
  • The correlation measures the strength of the statistical relationship between two variables. A positive correlation means "the more ... the more", a negative correlation means "the more ...the less". The value of correlation is in the range between -1 (completely opposed) and +1 (completely equal). Correlations are some kind of no-tice on but no evidence for causalities which mean proven cause-effect relation-ships.

Performance chart

Performance since 01.07.2014: +1.75 %
As of: 31.07.2014
Performance

Performance (gross in EUR)[1]:

201920202021
Jan 4.18 %1.17 %5.00 %
Feb -0.71 %-3.04 %4.94 %
Mar -1.25 %-7.57 %2.26 %
Apr 1.08 %4.18 %n.a.
May -3.13 %0.20 %n.a.
Jun 1.44 %2.20 %n.a.
Jul -1.27 %1.48 %n.a.
Aug -1.16 %1.30 %n.a.
Sep -1.68 %-0.63 %n.a.
Oct 1.15 %-3.35 %n.a.
Nov -0.94 %8.48 %n.a.
Dec 0.26 %4.42 %n.a.
Year -2.20 %8.17 %n.a.

fromtoLupus alpha All Opportunities Fund C
1 month 26.02.202131.03.20212.26 %
90 days 30.12.202031.03.202112.67 %
1 year 31.03.202031.03.202134.43 %
3 years 29.03.201831.03.202111.59 %
5 years 31.03.201631.03.202141.81 %
this year 30.12.202031.03.202112.67 %
since inception 21.01.200831.03.2021162.90 %
since inception p.a. 21.01.200831.03.20217.60 %

12-month-timeframe (gross)Lupus alpha All Opportunities Fund C
31.03.2020 - 31.03.202134.43 %
31.03.2019 - 31.03.2020-13.19 %
31.03.2018 - 31.03.2019-4.38 %
31.03.2017 - 31.03.201811.68 %
31.03.2016 - 31.03.201714.13 %
31.03.2015 - 31.03.2016-6.10 %
31.03.2014 - 31.03.20156.47 %
31.03.2013 - 31.03.201423.51 %
31.03.2012 - 31.03.201312.18 %
31.03.2011 - 31.03.2012-7.10 %

Key Statistics [3]:

as ofLupus alpha All Opportunities Fund C
Volatility p.a. 31.03.20218.09 %
Maximum Draw Down 90 Days 31.03.2021-19.07 %
VaR 95 - 10 31.03.2021-4.71 %
VaR 99 - 10 31.03.2021-6.66 %
Sharpe Ratio 31.03.20210.90
Average Equity Exposure (beta adjusted) 31.03.202131.49 %
Maximum Draw Down 31.03.2021-23.21 %
Fund structure

Correlations [10] as of 31/03/2021

Stoxx® Europe TMI Small 0.61
REXP -0.18

Sector allocation as of 31/03/2021

Country allocation as of 31/03/2021

Highlights
  • Low-beta strategy in European small- and mid-cap segment
  • Ability to exploit both rising and falling markets offers high degree of flexibility
  • Opportunity to participate in small- and mid-cap segment inefficiencies and short-term market opportunities
  • The fund offers the opportunity to use short strategies to hedge against negative market developments
  • Ability to exploit the exceptional expertise of one of Germany's largest small- and mid-cap teams
Awards

€uro Fund Award 2021:

1st place in the category "Absolute Return Aktien", ten-year performance 

3rd place in the category "Absolute Return Aktien", five-year performance

 

€uro Fund Award 2020:

1st place in the category "Absolute Return Aktien", ten-year performance 

2nd place in the category "Absolute Return Aktien", five-year performance

 

€uro Fund Award 2019:

2nd place in the category "Absolute Return Aktien", five-year performance 

3rd place in the category "Absolute Return Aktien", three-year performance

 

€uro Fund Award 2018:

winner in the category "Absolute Return Aktien", five-year performance 

winner in the category "Absolute Return Aktien", three-year performance

3rd place in the category "Absolute Return Aktien", one-year performance


€uro Fund Award 2017:

winner in the category "Absolute Return Aktien", five-year performance 

3rd place in the category "Absolute Return Aktien", three-year performance  


€uro Fund Award 2016:  

3rd place in the category "Absolute Return Aktien", three-year performance  

 

Alternative Investment Awards 2020: 

second place in the category "Long/Short-Aktien Europa", ten-year performance 

 

Alternative Investment Awards 2019: 

first place in the category "Lond/Short-Aktien Europa", five-year performance

3rd place in the category "Lond/Short-Aktien Europa", three-year performance

 

Alternative Investment Awards 2018:  

second place in the category "Lond/Short-Aktien Europa", five-year performance


Alternative Investment Awards 2017:  

second place in the category "Lond/Short-Aktien Europa", five-year performance

3rd place in the category "Lond/Short-Aktien Europa", one-year performance

   

 

Team expertise

Lupus alpha All Opportunities Fund's low-beta strategy makes use of Lupus alpha's highly specialised expertise in the small- and mid-cap segment:

 

  • European small- and mid-cap team with nine specialists
  • Many years of experience and an exceptional track record
  • Wide range of monitored stocks/companies
  • Detailed knowledge gained from approximately 1,000 points of contact with companies each year
Investment concept

Low-beta strategy for small and mid caps

 

Lupus alpha All Opportunities Fund uses a low-beta strategy to invest in the European small- and mid-caps asset class. This approach uses both long and short investments to target significantly lower volatility than long-only strategies. The fund is able to exploit inefficiencies in the European equity markets. It uses a combination of different individual strategies, including pair trades10 in individual stocks and sectors as well as the use of short and medium-term trading opportunities. Within its investment universe of approximately 1,000 stocks, the fund provides a flexible opportunity to exploit equity market trends. A stringent risk management process is used to monitor the portfolio structure and its various elements. Particularly important considerations include broad diversification, strict criteria when selecting individual stocks and regular Value at Risk calculations based on portfolio holdings. Regular stress tests are also carried out to enhance the risk monitoring of this low-beta strategy.

 

Investment objective

The fund aims to exceed the European equity market as well as the HFRU Equity Hedged Index in the long term.

 

Chances and Risks

Chances

 

  • You benefit from the long-term experience of the largest Small & Mid Cap teams.
  • Excellent and long-standing historical performance.
  • Promising upside potential of European Small & Mid Cap stocks.
  • Flexible exploitation of various trends and opportunies in the stock markets.
  • Participation in fundamental and technical events of individual stocks.
  • You can benefit from the deep network that our fund managers foster with Small & Mid Cap companies of our investment universe.

 

Risks

 

  • Concentration risk: If investment is concentrated on particular assets or markets, the fund becomes particularly heavily dependent on the performance of these assets or markets.
  • Risks connected with derivates transactions: Changes in the price of the underlying asset can devalue a derivative. If derivatives are used as part of the investment strategy, the Derivatives might have leverage effects that impact the fund more strongly than the underlying asset. When selling derivates, there is the risk that the fund will suffer an indefinite loss amount.
  • Operational risk: The fund can become the victim of fraud, criminal acts pr errors by company employees or external third parties. Finally, managment of the fund can be negatively impacted by external events such as fires, natural disasters or similar.
  • Liquidity risk: If securities are trades in a relatively narrow market segment, it can be difficult to resell them in situations where there is insufficient liquidity. 
  • Interest-rate risk: Changes in market interest rates can affect the price of fixed-income securities. These fluctuations vary, however, depending on the term of the fixed-income securities.
  • Risk of price changes: Experience shows that equities are subject to sharp price fluctuations and thus the risk of price declines. These fluctuations are particularly impacted by the earnings development of the issuing company as well as sector trends and overall economic development. 
  • Market risk: The performance of financial products depends on the development of the capital markets.
  • Currency risk: Changes in exchange rates can affect the price of fund shares. 
Disclaimer

This fund information is provided for general information purposes. This information is not designed to replace the investor‘s own market research nor any other legal, tax or financial information or advice. The information presented does not constitute an invitation to buy or sell or investment advice. It does not contain all key information required to make important economic decisions and may differ from information and estimates provided by other sources or market participants. We accept no liability for the accuracy, completeness or topicality of this information. All statements are based on our assessment of the present legal and tax situation. All opinions reflect the current views of the portfolio manager and can be changed without prior notice. Full details of our funds and their licenses of distribution can be found in the relevant current sales prospectus and, where appropriate, Key Investor Information Document , supplemented by the latest audited annual report and/or half-year report. The relevant sales prospectus and Key Investor Information Documents prepared in German are the sole legally-binding basis for the purchase of funds managed by Lupus alpha Investment GmbH. You can obtain these documents free of charge from Lupus alpha Investment GmbH, P.O. Box 1112 62, 60047 Frankfurt am Main, Germany, upon request by calling +49 69 365058-7000, by e-mailing service@lupusalpha.de or via our website www.lupusalpha.de. If funds are licensed for distribution in Austria the respective sales prospectus, Key Investor Information Document and the latest audited annual report or half-year report are available from the Austrian paying and information agent UniCredit Bank Austria AG based in Rothschildplatz 1, 1020 Vienna, Austria. Fund units can be obtained from banks, savings banks and independent financial advisors.

 

 

 

Neither this fund information nor its contents or a copy thereof may be amended, reproduced or transmitted to third parties in any way without the prior written consent of Lupus alpha Investment GmbH. By accepting this document, you declare your consent to comply with the aforementioned provisions. Subject to change without notice.

 

 

 

Lupus alpha Investment GmbH

 

Speicherstraße 49–51

 

D-60327 Frankfurt am Main

 

Awards

Alternative Investments Award 2020 from GELD-MagazinAlternative Investments Award 2019Alternative Investments Award 2018Alternative Investments Award 2017€uro Fund Award 2021€uro Fund Award 2020€uro Fund Award 2019€uro Fund Award 2018€uro Fund Award 2017€uro Fund Award 2016

Portfolio Manager

Experienced fund manager

 

Franz Führer is a fund manager with considerable experience in small and mid caps, and has been with Lupus alpha since 2001. Gerald Rössel is also a fund manager with many years of experience in small and mid caps, and has been with Lupus alpha since 2007.

 

Franz Führer
Partner, Portfolio Management Small & Mid Caps Europe


Gerald Rössel
CFA, Portfolio Management & Research Small & Mid Caps Europa