Maia FERRAND
Co-Head of External Multi-Management
Candriam M Global Trading
Fund details
AUM - 12 JUL 2024
USD 493,101.67
Last NAV - 12 JUL 2024
USD 1,012.64
Marketing Communication. Please refer to the prospectus of the fund and to the key investor information document before making any investment decision. The documents can be obtained free of charge.
Risks
Lower Risk
Potentially lower return
Higher Risk
Potentially higher return
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Definition
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.
The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.
It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.;
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.<br>The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.<br> It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.
Legal documents
Download documents
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About this fund
Candriam M Global Trading (hereafter “the Fund”) is a Luxembourg Société d’Investissement à Capital Variable (SICAV) – under Luxembourg law. The Fund is organised as an umbrella "SICAV", a company with limited liability. The Fund will implement its investment objective by investing in a broad range of trading strategies in all asset classes including but not limited to global macro, commodity trading advisor strategies, systematic and quantitative strategies... The fund will invest in, but not limited to, hedge funds, futures funds, commodity funds, equity funds, debt funds and foreign exchange funds. The Fund will invest in such Underlying Funds by spreading the assets of the Sub-Fund across a selected group of Submanagers. The Fund does not have a sustainable investment objective and does not specifically promote environmental and/or social characteristics. The fund may use derivative products both for investment and hedging purpose (please refer to the prospectus for more information). The Sub-Fund is not managed with reference to any index, it is actively managed on a discretionary basis . The Sub-Fund does not have a sustainable investment objective and does not specifically promote environmental and/or social characteristics. The recommended investment horizon is over 3 years. For more information please consult the fund’s key information document (KID).
Principal assets traded:
The fund will invest in, but not limited to, hedge funds, futures funds, commodity funds, equity funds, debt funds and foreign exchange funds. The Sub-Fund will invest in such Underlying Funds by spreading the assets of the Sub-Fund across a selected group of Submanagers. The Sub-Fund invests directly or indirectly in shares or units of other Underlying Funds, ETF, certificates, ETN and limited partnerships.
Investment strategy:
The investment objective of the Sub-Fund is to deliver positive returns over a 3 years’ time investment horizon, with low correlation to equity markets and to most traditional asset classes.
The Sub-Fund will implement its investment objective by investing in a broad range of trading strategies in all asset classes including but not limited to global macro, commodity trading advisor strategies, systematic strategies and statistical arbitrage.
The Sub-Fund’s investment objectives may also be implemented by participating in non-unit investments. Such investments can directly or indirectly employ leverage.
The Sub-Fund will not invest more than 20% of its net assets in securities (other than shares of Underlying Funds) issued by the same issuer and not acquire more than 10% of the securities (other than shares of Underlying Funds) issued by the same issuer.
The Sub-Fund may, for efficient portfolio management or hedging purposes, use listed or OTC derivatives. The maximum global exposure of the Sub-Fund, including the derivative instruments and borrowing, will never be more than 200% which means that the total leverage is limited to 100% of the net assets.
The Sub-Fund may seek from time to time to hedge a portion of its currency risks through the use of derivative instruments.
The Sub-Fund may borrow amounts of up to 35% of its Net Asset Value at any one time either to further the investment policy and strategy or to meet temporary cash shortages caused for instance by the need to satisfy requests by Shareholders for the redemption of Shares, to meet timing differences in investment sales and purchases in relation to the Sub-Fund and to meet any currency exposure payments.
The Sub-Fund does not have a sustainable investment objective and does not specifically promote environmental and/or social characteristics.
The Reference Currency of the Sub-Fund is the USD.
Benchmark: /.
The Sub-Fund is not managed with reference to any index, it is actively managed on a discretionary basis.
The fund will invest in, but not limited to, hedge funds, futures funds, commodity funds, equity funds, debt funds and foreign exchange funds. The Sub-Fund will invest in such Underlying Funds by spreading the assets of the Sub-Fund across a selected group of Submanagers. The Sub-Fund invests directly or indirectly in shares or units of other Underlying Funds, ETF, certificates, ETN and limited partnerships.
Investment strategy:
The investment objective of the Sub-Fund is to deliver positive returns over a 3 years’ time investment horizon, with low correlation to equity markets and to most traditional asset classes.
The Sub-Fund will implement its investment objective by investing in a broad range of trading strategies in all asset classes including but not limited to global macro, commodity trading advisor strategies, systematic strategies and statistical arbitrage.
The Sub-Fund’s investment objectives may also be implemented by participating in non-unit investments. Such investments can directly or indirectly employ leverage.
The Sub-Fund will not invest more than 20% of its net assets in securities (other than shares of Underlying Funds) issued by the same issuer and not acquire more than 10% of the securities (other than shares of Underlying Funds) issued by the same issuer.
The Sub-Fund may, for efficient portfolio management or hedging purposes, use listed or OTC derivatives. The maximum global exposure of the Sub-Fund, including the derivative instruments and borrowing, will never be more than 200% which means that the total leverage is limited to 100% of the net assets.
The Sub-Fund may seek from time to time to hedge a portion of its currency risks through the use of derivative instruments.
The Sub-Fund may borrow amounts of up to 35% of its Net Asset Value at any one time either to further the investment policy and strategy or to meet temporary cash shortages caused for instance by the need to satisfy requests by Shareholders for the redemption of Shares, to meet timing differences in investment sales and purchases in relation to the Sub-Fund and to meet any currency exposure payments.
The Sub-Fund does not have a sustainable investment objective and does not specifically promote environmental and/or social characteristics.
The Reference Currency of the Sub-Fund is the USD.
Benchmark: /.
The Sub-Fund is not managed with reference to any index, it is actively managed on a discretionary basis.
Investment Team
Annual return
This chart shows the fund’s performance as the percentage loss or gain per year over the last 4 years.
It can help you to assess how the fund has been managed in the past. Performance is shown after deduction of ongoing charges.
Any entry and exit charges are excluded from the calculation. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.If for one year, there is no performance information, it is because there is no data or the data is insufficient to provide investors with useful or reliable indications on this performance.
| 2016 | 2017 | 2022 | 2023 | |
|---|---|---|---|---|
| Fund | 1.77 % | 2.59 % | 1.44 % | 3.58 % |
| Benchmark | 5.21 % | |||
| Difference | -1.63 % |
Additional information
The returns listed above are provided on the basis of the Net Asset Value (NAV), net of commissions and reinvested income. All management fees and commissions are included in the calculation of past performance except for any entry and exit charges. Taxes are not included in the calculation of returns. The value or price converted into euros may be reduced or increased depending on fluctuations in the exchange rate. The fund is not a guaranteed investment. The NAVs are net of fees and are provided by the accounting department and the benchmark by the official providers.
Market developments (currency conversion, coupon, split, …) have an influence on the chart. This graph is provided for information purposes only and does not precisely illustrate the evolution of the fund's net assets. Data may be rounded for convenience. Data expressed in a currency other than that of the investor's country of residence is subject to exchange rate fluctuations, with a positive or negative impact. Gross performance may be impacted by commissions, fees and other expenses
Risk And Reward Indicators
Lower Risk
Potentially lower return
Higher Risk
Potentially higher return
1
2
3
4
5
6
7
Definition
The summary risk indicator ("SRI") is an indicator with a rating ranging from 1 to 7 and corresponds to increasing levels of risk and return. The methodology for calculating this regulatory indicator is available in the KID.<br>The summary risk indicator ("SRI") is a guide to the level of risk of this product compared to other products.<br> It shows how likely it is that the product will lose money because of movements in the markets or because we are not able to pay you.- SRI Value
- 5
Main Risks
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Arbitrage risk
Arbitrage is a technique which consists in benefiting from the differences in prices recorded (or anticipated) between markets and/or sectors and/or securities and/or currencies and/or instruments. If such arbitrage transactions perform unfavourably (a rise in sell transactions and/or fall in buy transactions), the funds net asset value may fall.
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Commodity risk
Commodities namely energy, metals and agricultural products, could have more closely correlated trends that may differ from traditional securities trends. Unfavourable trends on these markets may cause the net asset value of a sub-fund to fall.
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Counterparty Risk
When the fund carry out over-the-counter transactions (i.e. involving instruments not listed on the markets), they are exposed to a risk of default by the counterparty to the transaction.
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Credit risk
It constitutes the risk that an issuer or a counterparty default. This risk includes the risk of changes in credit spreads and default risk. The level of credit risk is usually evaluated by using “ratings” representing a comparative assessment of the credit quality (solvency level) of an issuer, issuer or portfolio. “High Yield” investments present the lowest rating levels and therefore a high credit risk.
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Currency risk
Funds may hold exposure to a currency different from its valuation currency. Changes in the exchange rate of this currency may negatively affect the value of assets in the portfolio.
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Derivative risk
Derivatives are investments whose value depends on (or is derived from) the value of an underlying instrument, such as a security, asset, reference rate or index. Derivative strategies often involve leverage, which may exaggerate a loss, potentially causing the Sub-Fund to lose more money than it would have lost had it invested in the underlying instrument. Using derivatives may result in a higher portfolio volatility related to this underlying asset and an increase of the counterparty risk.
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Emerging market risk
These markets are characterized by higher volatility issues and a lower liquidity because of legal, political and structural matters. Market movements can be stronger and faster on emerging markets than on “developed markets”, which can lead to a substantial decline in the net asset value in the event of the adverse movements relative to the positions taken.
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Equity Risk
Some funds may be exposed to equity market risk through direct investment (through transferable securities and/or derivative products), meaning submitted to the positive or negative evolution of stock exchanges. These evolutions can be huge and be mainly driven by expectations relative to macro-economy and company results, speculation and irrational factors (including trends, opinions or rumours).
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Interest rate risk
A change in interest rates, resulting notably from inflation, may cause a risk of losses and reduce the net asset value of the fund.
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Leverage risk
The use of Leverage tend to magnify returns on underlying assets, both on the upside and downside. Consequently, a minor trend on the market can lead to substantial gains or losses. In some cases, the entire investment can be wiped out.
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Liquidity risk
lt occurs when a portfolio position cannot be sold, liquidated or closed at a limited cost and within a sufficiently short time, which jeopardizing the fund's ability to comply at any time with its obligations to redeem the shares of investors at their request.
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Model risk
Fund management process relies on establishing a model which is used to identify signals based on past statistical results. Models full efficiency and internally developed strategies may represent a risk.
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Risk of loss of capital
Investors are advised that any capital they invest is not guaranteed and that they may therefore not receive back the full amount invested. They may thus suffer a loss.
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Sustainability Risk
The sustainability risk refers to any environmental, social or governance event or condition that could affect the performance and / or the reputation of issuers in the portfolio. It may be issuer specific, in line with their activities and practices, but may also be due to external factors.
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Volatility risk
A fund may be exposed (taking directional positions or using arbitrage strategies for example) to market volatility risk and could therefore, based on its exposure, suffer losses in the event of changes in the volatility level of these markets.
Other Risks
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Concentration risk
This risk is related to a significant concentration of investments in a specific asset class or certain markets. The greater the diversification of the fund is, the lesser the concentration risk will be.
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ESG Investment Risk
ESG investment risk refers to the risks arising from the inclusion of ESG factors in the management process, such as the exclusion of activities or issuers and the inclusion of sustainability risks in the selection and/or allocation of issuers in the portfolio.
Risk And Reward Indicators
Companies
Candriam's Controversial Activities Analysis excludes companies involved in harmful or controversial activities. Involvement is assessed using activity-specific revenuebased threshold levels.
Fund Characteristics
- Fund name
- Candriam M Global Trading
- SICAV Name
- Candriam M
- Currency
- USD
- Legal Form
- Sub-fund of a SICAV under Luxembourg law
- Legal status
- AIF
- Creation Date
- Domicile Country
- Luxembourg
- Management company, having its registered office in Luxembourg
- CANDRIAM, management Company having its registered office in Luxembourg.
- Depository bank
- CACEIS Bank, Luxembourg Branch
- Transfer agent
- CACEIS Bank, Luxembourg Branch
- Term of fund
- The fund has no limited term
- Anti Dilution system
- no
Swing Pricing is a mechanism by which the net asset value is adjusted upwards (or downwards) if the change in liabilities is positive (or negative) in such a way as to reduce for existing investors the portfolio restructuring costs linked to subscription/ redemption movements in the fund. On valuation days where the difference between the amount of subscriptions and the amount of redemptions of a sub-fund (i.e. net transactions) exceeds a threshold set beforehand by the Board of Directors, the latter shall be entitled to:
- value the net asset value by adding to the assets (in the case of net subscriptions) or deducting from assets (at net redemptions) a fixed percentage of the fees corresponding to market practices and reflecting the fees and/or conditions of liquidity when buying or selling securities;
- value the securities portfolio on the basis of bid or ask prices;
- assess the net asset value by setting a level of spreads representative of the relevant market;
- The dilution mechanism must not exceed 2% of the net asset value, except in exceptional circumstances, as in the event of a sharp decrease in liquidity, which would then be detailed for the sub-fund concerned in the annual (semi-) annual report of the SICAV.
Instrument characteristics
- Share Class
- I - Cap
- Currency
- USD
- First NAV Date
- 2/1/15
- ISIN
- LU1162493321
- Recommended investment horizon
- 3 years
- Bloomberg ticker
- RINOGIU LX Equity
- Morningstar ticker
- F00000WQDD
Tax, Charges & Fees
- Management fees (max)
- 1.15 %
- Subscription
- 3.00 %
- Redemption
- 0.00 %
- Entry Costs
- 3.00%
- Exit Costs
- 0.00%
Transaction Fees
- Portfolio transaction costs
- 0.00%
Ongoing cost
- Ongoing cost value
- 3.19%
Orders
Order Subscription
- Subscription cut off
- D 17:00
Order redemption
- Redemption cut off
- D 17:00
The corresponding time zone is the one associated with the fund's domicile.
NAV
Nav Specification
- Frequency valuation
- Monthly
- NAV date
- D
- NAV calculation Day
- D
Nav Aum
- Aum currency
- USD
- Aum value
- 493,101.67
- Aum date
- 7/12/2024
Nav aum for share class
- Last nav date
- 7/12/2024
- Last nav value
- 1012.64
Shareholder Documents
Download all shareholder documentsAnnual and semi-annual reports
Download all annual documentsAwards
Other information
This is a marketing communication. Please refer to the prospectus of the funds and to the key information document before making any investment decision. This marketing communication does not constitute an offer to buy or sell financial instruments, nor does it represent an investment recommendation or confirm any kind of transaction, except where expressly agreed. Although Candriam selects carefully the data and sources within this document, errors or omissions cannot be excluded a priori. Candriam cannot be held liable for any direct or indirect losses as a result of the use of this document. The intellectual property rights of Candriam must be respected at all times, contents of this document may not be reproduced without prior written approval.
Warning: Past performance of a given financial instrument or index or an investment service or strategy, or simulations of past performance, or forecasts of future performance does not predict future returns. Gross performances may be impacted by commissions, fees and other expenses. Performances expressed in a currency other than that of the investor's country of residence are subject to exchange rate fluctuations, with a negative or positive impact on gains. If the present document refers to a specific tax treatment, such information depends on the individual situation of each investor and may change.
In respect to money market funds, please be aware that an investment in a fund is different from an investment in deposits and that the investment’s principal is capable of fluctuation. The fund does not rely on external support for guaranteeing its liquidity or stabilizing its NAV per unit or share. The risk of loss of the principal is borne by the investor.
Candriam consistently recommends investors to consult via our website https://www.candriam.com the key information document, prospectus, and all other relevant information prior to investing in one of our funds, including the net asset value (“NAV) of the funds. Investor rights and complaints procedure, are accessible on Candriam’s dedicated regulatory webpages https://www.candriam.com/en/professional/legal-information/regulatory-information/. This information is available either in English or in local languages for each country where the fund’s marketing is approved.
According to the applicable laws and regulations, Candriam may decide to terminate the arrangements made for the marketing of a relevant fund at any time.
Information on sustainability-related aspects: the information on sustainability-related aspects contained in this communication are available on Candriam webpage https://www.candriam.com/en/professional/sfdr/. The decision to invest in the promoted product should take into account all the characteristics or objectives of the promoted product as described in its prospectus, or in the information documents which are to be disclosed to investors in accordance with the applicable law.