RAM (Lux) Systematic

Long/Short European Equities - Art. 8

Fund information

As Of

Tot. Asset (Eur MN)

Num. of holdings

Fund Launch Date

30.11.2021
193
1033
15.12.2011

Risk reward profile

  • Characteristics of the Sub-fund
  • Performance
  • Subscription and redemptions modalities
  • Glossary
  • Management Company
    RAM Active Investments (Europe) SA
  • Depositary
    Banque de Luxembourg S.A., Luxembourg
  • Central Administration
    European Fund Administration S.A., Luxembourg
  • Auditor
    PwC, Luxembourg
  • Regulatory Authority
    CSSF, Luxembourg
  • Legal structure
    SICAV (UCITS V)
  • Currency
    EUR
  • Liquidity
    Weekly
  • Duration of the Sub-Fund
    Indefinite (Open Sub-Fund)
  • Performance as of

Source: RAM Active Investments

This graph only displays information over full calendar years of realized track record for the selected share class. All fees and charges have been taken into account, with the exception of entry and exit fees. The initial fee may have a substantial impact on the performance of your investment.

All fees and charges have been taken into account, with the exception of entry and exit fees.The initial fee may have a substantial impact on the performance of your investment.

All fees and charges have been taken into account, with the exception of entry and exit fees.The initial fee may have a substantial impact on the performance of your investment.

Subscription and redemptions modalities

We recommend that you contact your usual financial adviser, who will be able to help you to:

  • 1
    Assess your investor profile
  • 2
    Take your current financial situation into account
  • 3
    Tailor your investment objectives to your personal situation
  • 4
    Plan the best way to achieve your objectives

Whenever you instruct your bank, your financial adviser or any other intermediary to carry out a transaction involving one of the RAM Active Investments sub-funds, we recommend that you read the sub-fund’s legal documents and identify the ISINs of the sub-funds/share classes that interest you ahead of time so that you can discuss them with your financial adviser directly. You will find these codes on the sub-funds’ factsheets (and other legal documents), and on the website.

Glossary

  • Alpha

    Alpha is the difference between the performance of the fund and its expected performance given its market sensitivity or Beta. Alpha is used as a measure of value added by a fund manager. A positive alpha indicates that a fund has performed better than its Beta, systematic risk exposure, would predict. Alpha is the intercept value derived from the single-factor (market index) regression defined to calculate Beta.

  • Beta

    Beta is defined as a fund’s sensitivity to market movements and is used to evaluate systematic risk. Beta is a measure of the linear relationship over time, the slope, of the fund’s returns and those of the benchmark. Beta is computed by regressing the fund’s excess returns over the risk-free rate against the excess returns of the benchmark over the risk-free rate. A beta greater than 1 means that the fund tends to amplify market movements, when it amortizes them when beta is lower than 1, suggesting a more defensive behavior.

  • Max Drawdown

    Max Drawdown is a downside risk analytic that measures the worst period of peak-to-valley performance of the fund, regardless of whether or not the drawdown consisted of consecutive observations of negative performance. It represents the maximum loss that an investor could have incurred during the period.

  • Sharpe

    Sharpe Ratio is a Risk/Return measure of the annualized fund's returns in excess of the risk free rate to the annualized standard deviation of these returns. The higher the ratio, the better is the fund, since it will have delivered a higher marginal return per unit of risk, represented by the volatility. A negative Sharpe ratio only indicates that a risk-free asset would have performed better than the fund.

  • SRRI

    The SRRI represents the risk and return profile as presented in the Key Investor Information Document (KIID). The lowest category does not imply the investment is risk free. The SRRI is not guaranteed and may change over time.

  • Volatility

    Amplitude of the variation of the price/of the value of a security, a sub-fund, a market or an index, measuring the importance of risk over a given period. Volatility is calculated through the standard deviation obtained through calculating the square root of the variance. Variance being the average of the squared differences of deviations from the mean.The higher the volatility, the riskier the security, the sub-fund may be.

  • Swing Pricing

    Swing pricing refers to a process for adjusting a fund’s net asset value (NAV) to effectively pass on transaction and market impact costs stemming from net capital activity (i.e., flows into or out of the fund) to the investors associated with that activity during the life of a fund, excluding ramp-up period or termination.

  • High-Water Mark

    This is the highest net asset value (NAV) that a fund has reached and for which a performance fee was paid.
    Using a high-water mark prevents the fund manager from receiving any performance fees on downside outperformance. It also means that investors do not end up paying performance fees more than once for the same increase in their fund's NAV (which is something that could otherwise happen in a fluctuating or sideways market).

Objectives & Investments Policy

To seek medium/long-term capital growth. Via the intermediary of hedging strategies, the sub-fund totally or partially neutralises the risk exposure to European equities markets.The sub-fund invests a minimum of 75% in shares of companies established in a Member State of the European Union or in Norway. Long exposure to equities markets may vary between 75% and 130%. Short exposure may vary between 0% and 130%. The manager may also use derivatives in order to hedge or optimise the portfolio's exposure.The sub-fund may invest up to 10% of its net assets in units of UCITS or other UCIs.Furthermore, the sub-fund may hold cash on an ancillary basis. The portfolio is managed on a systematic basis without using a reference benchmark.

 

Information on sustainability

 

The ESG methodology is based on a systematic investment process that seeks performance across different market cycles. Information is canvassed from a number of data sources in order to establish a wide range of fundamental and technical factors, which serve as the cornerstones of the strategies. The increasing availability of ESG data from such data sources enables:

 

● enhanced extraction and evaluation of intelligible ESG aspects;

● the provision of value-added information to supplement usual sources;

● improved forecasting of equity returns, volatility and volume.

 

The investment manager seeks the optimal combination of ESG and fundamental data. Indeed, ESG data complements fundamental financial data to generate sustainable performance. The investment manager’s infrastructure and systematic investment process is able to identify inefficiencies, thereby providing sustainable performance throughout the market cycle by setting clear ESG targets.

The manager adheres to an advanced research process to avoid unwanted bias and employs a multi-vendor data approach to identify reliable sources of information and mitigate methodological bias.

RAM AI will exclude a company when there is an important risk that it contributes to or is responsible for key ESG issues that RAM has identified as non-sustainable, in contradiction to RAM AI fundamental values or against international laws, norms and conventions.

Exclusion decision: the exclusion list is based both on data from external data providers and on RAM AI’s own in-house analysis of companies. Some companies are excluded on the basis of several criteria and issues identified. Ad-hoc criteria can be considered in certain cases. After assessment, if the excluded companies demonstrate improvements in their policies and business operations, they may be reinstated in RAM AI investable universe.

 

Basic non-exhaustive Exclusion list

 

· UN Global Compact Violation

· individuals in situations of war or conflict

· Controversial, chemical or biological Weapons

· Weapons utilizing non-detectable fragments

· Cluster Munition 

· Land Mines

· Binding Laser Weapons 

· Nuclear Weapons Involvement 

· Depleted Uranium

· Serious or systematic human rights

· violations, such as murder, torture, deprivation of liberty, forced labour and the worst forms of child labour

·  serious violations of the rights of the rights of individuals in situations of war or conflict

· Severe environmental damage, acts or omissions that on an aggregate company level lead to unacceptable greenhouse gas emissions

· Suspected of accounting fraud, corruption, lack of minority shareholder protection

· Exposed to sanctions, such as the OFAC list

· Other particularly serious violations of fundamental ethical norms

 

Value Base Exclusion and ESG Exclusions

 

The exclusions are applied on the criteria below when exceeding a threshold determined by RAM Active Investments SA. This threshold is lower in case of strategies promoting ESG characteristics and/or with an ESG objective. The threshold usually refers to the revenue of the Company on that field.

 

· Coal

· Tar sands

· Conventional Weapons and Firearms Support Systems & Services

· Thermal Coal

· Conventional weapons and firearms (producer)       

· Adult Entertainment (producer)

· Gambling

· Tobacco (producer)

· Tobacco Retailers, suppliers & distributer

· Pesticides

· Unsustainable Palm Oil

· Animal Testing

· OGM

· Recreational Cannabis

 

 

RAM considers the following macro criteria:

 

 

E

S

G

Macro criteria considered

· Emissions

· Biodiversity

· Social and employee matters

· Bribery and Anti-corruption

 

The measurement of the above macro-criteria is done through different indicators which are in constant review and may evolve from time to time. The below matrix covers the indicators which are currently considered [as at 10th March 2021]:

 

 

E

S

G

 Indicators

· Carbon Emissions Reduction Target

· Carbon Emissions scope 1

· Carbon Emissions Scope 2

· Carbon Emissions Scope 3

· SOx Intensity

· NOx Intensitiy

· Biodiversity and Land Use

· Enterprise Value Including Cash

· Raw Material Sourcing

· Anti-Discrimination

· Child Labor

· Forced Labor

· Freedom of Association

· Health and Safety

· Minimum Wage

· Paid Overtime

· Supply Chain Labor Standards weight

· Total recordable Injury Rate

· Fatalities

· Bribery and anti-corruption policy

· Female Directors

· Total Directors ex-management board

· Combined CEO/Chair

 

The fund does not have a benchmark index. An investment universe is applied that encompasses the equity market and identifies companies with solid, sustainable ESG criteria and standards; these, in conjunction with fundamental data, help pinpoint companies with a strong sustainability profile, healthy growth and attractive price levels. The aim is to discern advance signals to select companies with genuine potential for generating performance, by analysing the best way in which the different parameters interact with each other.

For more information on sustainability risks and the fund's ESG investment methodology, please refer to the fund's prospectus, which can be found below in the “Documents” section.

Please note that further information on ESG is available in RAM's Sustainability Policy under "Regulatory Information" or can be accessed directly here.