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Swiss group hands new fund to EM equity trio

Swiss group hands new fund to EM equity trio

RAM Active Investments – formerly Reyl Asset Management – has officially launched a second emerging market equity fund for its Citywire + rated equity trio.

The new approach, which is called the RAM (Lux) Systematic Funds – Emerging Markets Core Equities fund, was first revealed by Citywire Global in May of this year.

The final version of the fund has a broad remit, covering value, income, low volatility and growth stocks from across the emerging markets.

It will be co-run by the team of Thomas de Saint-Seine, Emmanuel Hauptmann and Maxime Botti, who also oversee the Reyl (Lux) GF-Emerging Markets Equities fund (now rebranded the RAM (Lux) Systematic Funds - Emerging Markets Equities fund).

The new fund differs from the existing strategy in that it has a keener focus on liquidity, with each stock having to possess daily liquidity in excess of $5 million.

This means the investible universe is made up of 1,200 stocks compared to 3,500 stocks in the other strategy. In addition, the new fund will operate with a lower turnover than its predecessor.

Finally, RAM said the overlap of positions between the two funds will be 28%, meaning there is some crossover in the most liquid parts of the market but also a large number of unique positions in both portfolios.

The Luxembourg-domiciled fund was launched with $26 million in seed capital. It is benchmark is the MSCI EM (Emerging Markets) TR USD.

This launch marks the first fund to be launched by RAM Active Investments since it opted to change its name from Reyl Asset Management at its Extraordinary General Meeting at the start of November.

The Reyl (Lux) GF-Emerging Markets Equities fund has returned 26% over the three years to the end of October 2013. This compares to a rise of 1.9% by its Citywire benchmark, the MSCI EM (Emerging Markets) TR USD, over the same period.

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