Lupus alpha CLO High Quality Invest A

WKN: A1XDX3

ISIN: DE000A1XDX38

Lupus alpha CLO High Quality Invest offers UCITS and VAG (German Insurance Supervision Act) compliant access to a diversified portfolio of secured corporate loans based on collateralised loan obligations (CLOs). The fund enables investors to achieve attractive returns at acceptable levels of risk with low interest rate sensitivity.

Fund data

Current fund data as of 12/12/2018

Currency EUR
Issue price 103.54
Redemption price 99.56
Fund volume 32.69 Mio.
Launch date 01 July 2015
Minimum investment amount 1,000
Distribution frequency 6distribution
Portfolio managers Michael Hombach, Norbert Adam, Stamatia Hagenstein, Dr. Klaus Ripper
Performance fee 15 of Outperformance
Administration fee 4up until 0.6 %
Hurdle Rate 53.5% p.a.
Subscription fee 34 %
High-Watermark yes
Redemption fees Up until 0.5% of unit value above €1 million (Fund inflows)
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.
  • 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 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 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 prof
  • Distributing Funds do not reinvest the generated income, they pay out the income to the investor.

Performance chart

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

Performance (gross in EUR):¹

201620172018
Jan-0.19 %0.28 %0.58 %
Feb-5.05 %0.34 %-0.30 %
Mar2.23 %0.36 %0.04 %
Apr1.25 %0.13 %-0.37 %
May1.39 %0.13 %0.12 %
Jun-1.37 %0.18 %0.06 %
Jul1.88 %0.16 %-0.40 %
Aug1.33 %0.26 %0.07 %
Sep0.36 %0.20 %0.04 %
Oct0.55 %0.28 %0.04 %
Nov0.06 %0.19 %-0.32 %
Dec0.33 %0.02 %n.a.
Year2.59 %2.54 %n.a.

fromtoLupus alpha CLO High Quality Invest A
1 month31.10.201830.11.2018-0.32 %
90 days31.08.201830.11.2018-0.24 %
1 year30.11.201730.11.2018-0.42 %
3 years30.11.201530.11.20184.61 %
5 yearsn.a.n.a.n.a.
this year29.12.201730.11.2018-0.44 %
since inception01.07.201530.11.20183.54 %
since inception p.a.01.07.201530.11.20181.02 %

12-month-timeframe (gross)Lupus alpha CLO High Quality Invest A
30.11.2017 - 30.11.2018-0.42 %
30.11.2016 - 30.11.20172.86 %
30.11.2015 - 30.11.20162.13 %

Key Risk ratios (gross):³

as ofLupus alpha CLO High Quality Invest A
Volatility p.a.30.11.20182.43 %
Maximum Draw Down 90 Days30.11.2018-5.62 %
Sharpe Ratio30.11.20180.55
Distribution13.12.20171.51 €
Modified Duration30.11.20181.90
Cupon (incl. Cash + Time Deposit)30.11.20182.17 %
Yield to Maturity (incl. Cash + Time Deposit)30.11.20183.07 %
Fund structure

Top ten holdings as of 30/11/2018

BABSE 2018-1X CLO 18/31 D4.65%
Adagio IV Ltd. CLO 17/29 ADAGIIV-XDR4.52%
WILPK 1X CLO 17/31 B3.61%
GRIPK 1X CLO 18/31 A2RA3.36%
Ares European CLO VIII BV3.07%
OAK Hill European Credit Partners VII DAC3.06%
Babson Euro CLO 2014-2 B.V. CLO 17/29 CR3.06%
BECLO 7X CLO 18/31 B13.06%
CGMSE 2014-2X CLO 18/31 CRR3.05%
HARVT 16X CLO 18/31 DR3.05%

Maturity of CLO´s as of 30/11/2018

Ratingstucture as of 30/11/2018

Highlights
  • Access to European CLO market and thus a broadly diversified European corporate loan portfolio
  • High level of expertise from CLO portfolio management team
  • Transparency and liquidity of a UCITS IV-compliant mutual fund
  • Compliant with German Insurance Supervision Act (VAG) (guarantee assets in accordance with German Investment Regulations – AnIV)
  • Investments in investment grade sector ensure high levels of protection
Team expertise

Lupus alpha CLO High Quality Invest is managed by a highly experienced team of CLO experts who have been working together successfully for more than a decade. The fund can also build on more than a decade of proven Alternative Solutions expertise of Lupus alpha:

  • Large, experienced European portfolio management and research team for Alternative Solutions with more than 20 experts
  • Own team for quantitative analysis
  • Proprietary databases
  • Critically scrutinised backtesting methods
  • Methodically sound, experienced risk management
  • Complete control over trading process
Investment concept

Lupus alpha CLO High Quality Invest offers investors access to a diversified portfolio of secured corporate loans based on collateralised loan obligations (CLOs). CLOs are securitised investments in corporate loans issued by a securitisation vehicle that are assembled by asset managers and divided into tranches according to the level of credit risk of the investments in question. Although this mutual fund is tailored specifically to the needs of regulated institutional investors such as insurance companies, pension funds and pension schemes, it is also an attractive investment for non-regulated investors.

Each individual CLO is managed by a CLO manager. Lupus alpha CLO High Quality Invest selects the best CLOs from those available on the market according to specific criteria (e.g. cash flow stability or historic default rates).

The selection process for individual CLOs is divided into a number of stages:

In the first stage, managers assess the relative attractiveness of the CLOs available on the market based on comprehensive market research. Managers then assess the capital structure of each individual CLO using risk and return criteria while taking existing investment guidelines into account.

Active management of the loan pool (by the CLO manager) and the active selection of CLO tranches by Lupus alpha doubles the alpha potential.

Investment objective

The fund pursues a return target of 3.5% p.a. that should be generated in the event of low single-digit volatility. Interest income is distributed regularly, providing investors with stable cash flows.

Chances and Risks

The value of investments and the income from them can go down as well as up and you may get back less than the amount invested.

A full list of risks applicable to this fund can be found in the Prospectus.

Disclaimer

This fund information is provided for general information purposes. The fund is a mutual funds (“UCITS”) launched by Lupus alpha Investment GmbH in Germany or launched by Lupus alpha Investment S.A. in Luxembourg.

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 or Lupus alpha Investment S.A. You can obtain these documents free of charge from Lupus alpha Asset Investment GmbH, P.O. Box 11 12 62, 60047 Frankfurt am Main, upon request by calling +49 69 365058-7000, by emailing 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 A-1020 Viena, Rothschildplatz 1. Fund units can be obtained from banks, savings banks and independent financial advisors. Neither this fund information, nor its contents, nor any copy thereof may be sent to third parties, changed in any way or copied without the prior written consent of Lupus alpha Asset Management AG. By accepting this document you agree to comply with the provisions above. Subject to change without notice.

Portfolio Manager

Experienced fund managers

Lupus alpha CLO High Quality Invest is managed by the Lupus alpha Credit team members, who have exceptional expertise and have already been working together successfully for more than a decade.
 

Michael Hombach
Portfolio Management Fixed Income Credit


Norbert Adam
Portfolio Management Fixed Income Credit


Stamatia Hagenstein
Portfolio Management Fixed Income Credit


Dr. Klaus Ripper
Portfolio Management Fixed Income Credit