Grégoire THOMAS
Head of EquitY Market Neutral
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About this fund
The aim of Candriam Absolute Return Equity Market Neutral (hereafter "the fund"), a sub-fund of the Candriam Absolute Return sicav, is to use quantitative and qualitative discretionary management to benefit from the performance of the global equities market with an "equity market neutral" management style, and to outperform the benchmark. This sub-fund may be appropriate for investors who wish to achieve this objective over a medium investment holding period and who are aware of, understand and are able to bear the specific risks of the sub-fund as set out below and defined in the section entitled Risk factors in the Prospectus. The investment horizon is 3 years. The fund is managed actively, with reference to the index mentioned on the section characteristics. For further information about this index and its use, please consult the fund’s key information document (KID).
Principal assets traded:
1. Within the scope of the implementation of the investment strategy:
- Equities and/or securities equivalent to equities of companies from developed and/or emerging countries, of any capitalisation,
- Forward contracts (futures, options and swaps) on regulated or OTC markets. These products are used for the purposes of exposure, arbitrage or hedging. The underlyings of these derivative financial instruments can be:
* Equities and/or securities equivalent to equities,
* Equities indices,
* Units in undertakings for collective investment,
* Currencies, for hedging purposes,
- Securities lending transactions,
- Exchange traded notes on equities indices,
- Units in undertakings for collective investment.
2. Within the context of cash management:
- Money market instruments with a short-term rating of at least A-2 when acquired (or equivalent) from one of the ratings agencies, issued by all types of issuers,
- Repurchases and reverse repurchases,
- Bonds and other debt securities with a short-term rating of at least A-2 when acquired (or equivalent) from one of the ratings agencies,
- Transferable securities or equivalent money market instruments other than those described above, deposits or cash.
Investment strategy:
The fund seeks to achieve capital growth by investing in the principal assets traded and to achieve a performance better than that of the benchmark.
In order to achieve its management objective, the fund follows the “Equity Market Neutral” management style, which means that, depending on the investment opportunities it identifies and on the basis of quantitative and qualitative analyses, the asset manager will simultaneously take long positions on equities that he or she believes, all things being equal, have the potential to increase in value, and short positions on other equities.
This management style makes it possible to maintain a limited net exposure to equity markets. For more information on the identification of investment opportunities and quantitative and qualitative analyses, please refer to the prospectus.
The fund does not have sustainable investment as its objective and does not specifically promote environmental and/or social characteristics.
The fund may make use of derivative products for both investment and hedging purposes (to protect against future unfavourable financial events).
Benchmark: €STR (Euro Short Term Rate) Capitalized.
The fund is managed actively and the investment approach implies a reference to a benchmark (the index).
Benchmark definition:
The €STR is the short term rate in euros that reflects unsecured overnight borrowing costs in euros for banks in the euro zone.
Use of the benchmark:
- for performance comparison purposes,
- to calculate the performance fee for some share classes.
1. Within the scope of the implementation of the investment strategy:
- Equities and/or securities equivalent to equities of companies from developed and/or emerging countries, of any capitalisation,
- Forward contracts (futures, options and swaps) on regulated or OTC markets. These products are used for the purposes of exposure, arbitrage or hedging. The underlyings of these derivative financial instruments can be:
* Equities and/or securities equivalent to equities,
* Equities indices,
* Units in undertakings for collective investment,
* Currencies, for hedging purposes,
- Securities lending transactions,
- Exchange traded notes on equities indices,
- Units in undertakings for collective investment.
2. Within the context of cash management:
- Money market instruments with a short-term rating of at least A-2 when acquired (or equivalent) from one of the ratings agencies, issued by all types of issuers,
- Repurchases and reverse repurchases,
- Bonds and other debt securities with a short-term rating of at least A-2 when acquired (or equivalent) from one of the ratings agencies,
- Transferable securities or equivalent money market instruments other than those described above, deposits or cash.
Investment strategy:
The fund seeks to achieve capital growth by investing in the principal assets traded and to achieve a performance better than that of the benchmark.
In order to achieve its management objective, the fund follows the “Equity Market Neutral” management style, which means that, depending on the investment opportunities it identifies and on the basis of quantitative and qualitative analyses, the asset manager will simultaneously take long positions on equities that he or she believes, all things being equal, have the potential to increase in value, and short positions on other equities.
This management style makes it possible to maintain a limited net exposure to equity markets. For more information on the identification of investment opportunities and quantitative and qualitative analyses, please refer to the prospectus.
The fund does not have sustainable investment as its objective and does not specifically promote environmental and/or social characteristics.
The fund may make use of derivative products for both investment and hedging purposes (to protect against future unfavourable financial events).
Benchmark: €STR (Euro Short Term Rate) Capitalized.
The fund is managed actively and the investment approach implies a reference to a benchmark (the index).
Benchmark definition:
The €STR is the short term rate in euros that reflects unsecured overnight borrowing costs in euros for banks in the euro zone.
Use of the benchmark:
- for performance comparison purposes,
- to calculate the performance fee for some share classes.
Investment Team
Célia FSEIL
Fund Manager
Damien VERGNAUD
Fund Manager
Sebastien DE GENDRE
Fund Manager
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.