AZ Athenaeum

Asia

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 2018 (Institutional)*
pdf-iconFactsheet September 2018

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 July 2018

Renminbi Opportunities

Renminbi Opportunities provides cash management capabilities by investing mainly in offshore RMB liquid high-grade CDs/time deposits and provides a yield pick-up through investment-grade bond allocation. With rapid internationalisation of RMB as a trading currency and China’s strong economic growth profile, this fund provides a higher-yielding alternative with daily liquidity as compared to traditional time deposits. The fund operates under the Luxembourg (UCITS) regulatory framework.

pdf-iconFactsheet September 2018 (Institutional)*
pdf-iconFactsheet September 2018

Renminbi Opportunities Fixed Income

Renminbi Opportunities Fixed Income fund invests in commercial paper debt securities of issuers with first-quality credit ratings, and other debt instruments. The fund provides access to superior risk-adjusted yield achievable on the short-term RMB offshore bond market through active duration management targeted at 2–5 years. The fund operates under the Luxembourg (UCITS) regulatory framework.

pdf-iconFactsheet September 2018 (Institutional)*
pdf-iconFactsheet September 2018