AZ Athenaeum

Equities

AZ Investment Management Singapore Ltd. manages two equities funds in Asia: the Athenaeum Asian Equities Fund; and the Asia Absolute. Backed by Azimut Group, we also offer investors two high performing European equity funds—Core Brands and Italian Trend.

Athenaeum Asian Equities Fund

The Athenaeum Asian Equities Fund aims to deliver risk-adjusted total returns from equity investments in Asia ex-Japan. Stock selection is made through fundamental research to identify inexpensive earnings growth, while managing macro risks. The fund adopts a long bias equity investment strategy. Bottom-up stock-picking accounts for 80 percent of the investment process with the remaining 20 percent coming from a top-down macro overlay. Shorts are taken on a macro level on markets. Stocks are identified after analysis for growth, management attributes, financial rigour, yield and absolute valuation levels. A thematic approach is further applied to include stocks on the basis of five themes: affluence; best of breed; commodities and consumer price index hedging capability; dividend yield; and energy and environment. Macro factors are evaluated with a view towards balancing risk with equity returns. The fund manager selects a concentrated portfolio of about 20–25 stocks on average.

pdf-iconFactsheet September 2017

Asia Absolute

The fund is a clone of the Athenaeum Equities Fund, with an identical investment philosophy, process and risk profile under the Luxembourg (UCITS) regulatory framework. Asia Absolute is an active long/short equity fund that focuses on Asia ex-Japan equities with long bias. Asia Absolute is a high conviction fund with a concentrated portfolio of 25–40 stocks, on average. Bottom-up stockpiling accounts for 80 percent of the investment process—the balance reflects a top-down macro overlay. Macro factors are evaluated with a view towards balancing risk with equity returns.

pdf-iconFactsheet September 2017 (Institutional)*
pdf-iconFactsheet September 2017

Core Brands

Core Brands is an active long/short equity fund with an investment focus on European consumer defensive and cyclical brands with a long bias. The fund seeks to generate alpha through bottom-stock selection across various subsectors, advised by our quant team which manages the volatility of the fund through assessment of market trends and defines the net exposure for each subsector. Most of the consumer brands that we invest in are characterised by low leverage and high cash flow and barriers to entry, which makes it an attractive investment class. The fund operates under the Luxembourg (UCITS) regulatory framework.

pdf-iconFactsheet September 2017

Italian Trend

One of our flagship funds with an excellent track record over more than 10 years. It focuses on Italian equities with a large cap and long bias. The fund adopts a trend-follower style which anticipates frequent trading in order to quickly adjust the portfolio allocation to different market phases and investor sentiments. Through our active fund management expertise, this fund has consistently delivered superior risk-adjusted returns for investors seeking to add a higher beta play into their portfolio. The fund operates under the Luxembourg (UCITS) regulatory framework.

pdf-iconFactsheet September 2017 (Institutional)*
pdf-iconFactsheet September 2017

* Where applicable, Institutional share class availability is subject to Manager’s discretion.