Swiss bank BSI looks for virtues such as consistent behaviour and patient stock selection, explains Luca De Biasi, vice president and head of multi-management and fund selection.
Luca de biasi: ‘funds I like…’
Julius Baer Absolute Return Bond
This fund is allowed to invest in bonds, credits and foreign exchange with a worldwide exposure. The robustness of the investment process, positively tested also in 2008, is one of the main strength of the fund and we believe it could be able to preserve the capital and obtain positive absolute return in current market conditions.
Amundi Absolute Volatility Euro Equities
The objective of the fund is to exploit two drivers of performance: volatility trends regarding the implied volatilities on the European equities and daily swings of volatility. Given the structural problems of debt in some of the European countries and lack of growth, we continue to expect a volatile environment in the coming months.
Melchior European Absolute Return Strategy
It’s a long/short fund that uses a fundamental approach to stock selection with an active trading overlay. The fund manager tries to achieve its investment objective (5%-10%) through long/short positions in companies listed in the European region. Historically, the manager has demonstrated his capability to obtain very interesting returns, especially in difficult environment like these months.
Schroder Euro Bond
A very experienced fund manager, broad and stable investment team assisted by a huge team of global credit analysts in which a team approach is preferred to a star approach. The portfolio manager runs an in-depth fundamental credit analysis in order to avoid defaults and try to exploit different source of alpha among: duration, country and sector allocation, yield curve positioning and forex exposure It has an extensive risk management organisation.
Vontobel Global Emerging Markets Equity
Experienced fund manager running the fund since 1997 it has a stable bottom-up investment process with great emphasis on fundamental analysis and qualitative aspects for stock selection. It is the kind of fund that investors hold for a consistent period of time and which is also able to minimise the volatility in difficult market situations.
Aberdeen Latin America Equity
The fund employs a bottom-up process based on a disciplined evaluation of companies through direct visits. Stock selection is the major source of alpha. The fund is managed on a team approach. The philosophy of the fund is much more ‘absolute return’ than benchmark relative, since there are no benchmark constraints and they take decisive positions away from the benchmark.
AB Emerging Market Debt USD (hard currency)
The fund is managed by a very experienced team which applies a structured research approach including fundamental and quantitative inputs. There are also different locations of the team that allow in-depth analysis of local bond markets. It also has a respectable a degree of freedom since that the fund can invest up to 25% in emerging market local currencies debt as an additional alpha source.