Fact sheet: AC Risk Parity 12

Fund information
Fund name
AC Risk Parity 12 EUR B
Fund manager company
Alceda Fund Management
Fund type
No data available.
Fund managers
  • Harold Heuschmidtsince 29/06/2004
  • Harry M. Katsince 31/08/2011
Fund objective
The Fund applies a multi-asset-strategy and invests into bonds, commodities, equities and rates, broadly diversifying within each asset class in order to achieve optimum portfolio diversification. The asset classes are weighted according to their risk, rather than invested capital, so that each asset class contributes equally to the overall risk of the portfolio (Risk Parity). Applying a robust risk management system, the Fund targets a volatility of 12% p.a. and aims to generate returns with low correlations to traditional markets.
Benchmark
  • No Specified Index
Investment style
Multi Strategy
Investment method
Mixed
Quick stats
1 Year return
-7.9%
1 Year rank in sector
108/124
Sector
FO Hedge/Stru Prod - Mixed
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
3.47%
Fund size
£30m (£104m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
54
Top in this sector
Fund name1 Year
LFIS VisionPremiaOpps19.4%
Castellain Value16.6%
Garraway Garr FT14.6%
Avia Altus13.8%
Pimco GIS Stk Pl10.7%
...more in FO Hedge/Stru Prod - Mixed

Performance snapshot

Holdings snapshot

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-0.9%-6.6%-7.6%-7.9%-4.4%-7.3%
Sector-0.1%-1.6%-0.5%-1.7%3.5%6.6%
Rank within sector95 / 121132 / 143128 / 138108 / 12470 / 8362 / 68
Quartile4th4th4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund-7.4%-6.4%10.4%-12.2%9.4%
Sector-1.3%-0.6%5.1%1.4%1.9%
Rank within sector111 / 12795 / 10819 / 8981 / 8113 / 72
Quartile4th4th1st4th1st
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-3.19
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.67
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
7.52
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.81
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.4
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.21
Price movement
52 week high129.99
52 week low118.14
Current bid price-
Current offer price-
Current mid price118.14
Region
1International100%
Industry sector
No data available.
Asset type
No data available.
Individual holdings
No data available.
Management
Fund manager group
Alceda Fund Management
Fund manager company
Alceda Fund Management
Fund type
No data available.
Fund objective
The Fund applies a multi-asset-strategy and invests into bonds, commodities, equities and rates, broadly diversifying within each asset class in order to achieve optimum portfolio diversification. The asset classes are weighted according to their risk, rather than invested capital, so that each asset class contributes equally to the overall risk of the portfolio (Risk Parity). Applying a robust risk management system, the Fund targets a volatility of 12% p.a. and aims to generate returns with low correlations to traditional markets.
Benchmark
  • No Specified Index
Investment style
Multi Strategy
Investment method
Mixed
Fund managers
NameSinceBiography
Harold Heuschmidt29/06/2004Harold Heuschmidt is, together with Dieter Rentsch, head of Aquila Capital's quant team. As Head of Quant Fund Management, he is the key person responsible behind the conception and implementation of the Risk Parity strategy since inception in 2004. Mr. Heuschmidt has 30 years of financial markets experience and previously worked for American Express, Morgan Stanley Equity Derivatives and Credit Suisse First Boston Equity Derivatives. He holds a Master of Business Administration from INSEAD, Fontainebleau, France.
Harry M. Kat31/08/2011Prof. Dr. Harry M. Kat is Aquila Capital's Head of Quant Research. Prof. Dr. Kat holds a MSc and PhD in Economics and Econometrics from Tinbergen Graduate School of Business at University of Amsterdam. He is an expert in alternative investments and financial derivatives and a pioneer in hedge fund replication research. Previously, Prof. Dr. Kat held positions as Director of the Alternative Investment Research Centre at Cass Business School in London, Head of Equity Derivatives Europe at Bank of America in London, Head of Derivatives Structuring and Marketing at First Chicago in Tokyo.
Compliance
Transparent for Austrian Tax, Transparent for Swiss Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Austria, Belgium, Switzerland, Germany, Spain, France, United Kingdom, Italy, Liechtenstein, Luxembourg, Netherlands, Offshore, Singapore, Slovenia, Sweden
AC Risk Parity 12 CHF A
Initial charge5%
Annual charge1.35%
Min single investment£50,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.04%
Total expense ratio (TER)3.04%
Bid price-
Offer price-
Mid price91.57
CurrencyCHF
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeM9C3
AC Risk Parity 12 CHF B
Initial charge5%
Annual charge1.35%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.54%
Total expense ratio (TER)3.54%
Bid price-
Offer price-
Mid price89.12
CurrencyCHF
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM9C4
AC Risk Parity 12 EUR A
Initial charge5%
Annual charge1.35%
Min single investment£50,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3%
Total expense ratio (TER)3%
Bid price-
Offer price-
Mid price128.45
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeEUK3
AC Risk Parity 12 EUR B
Initial charge5%
Annual charge1.35%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.47%
Total expense ratio (TER)3.47%
Bid price-
Offer price-
Mid price118.14
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFGB3
AC Risk Parity 12 EUR C
Initial charge5%
Annual charge1.35%
Min single investment£50,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.02%
Total expense ratio (TER)3.02%
Bid price-
Offer price-
Mid price80.9
CurrencyEUR
Price updated07/12/2016
TypeIncome
Institutional or retail classInstitutional
Domicile-
Citi code0H11
AC Risk Parity 12 EUR D
Initial charge5%
Annual charge1.35%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.42%
Total expense ratio (TER)3.42%
Bid price-
Offer price-
Mid price81.06
CurrencyEUR
Price updated07/12/2016
TypeIncome
Institutional or retail classRetail
Domicile-
Citi code0H12
AC Risk Parity 12 EUR R
Initial charge5%
Annual charge1.35%
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.09%
Total expense ratio (TER)2.31%
Bid price-
Offer price-
Mid price94.3
CurrencyEUR
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeK0IV
AC Risk Parity 12 EUR USD
Initial charge5%
Annual charge1.35%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.91%
Total expense ratio (TER)2.92%
Bid price-
Offer price-
Mid price96.72
CurrencyEUR
Price updated29/04/2010
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeF0Q0
AC Risk Parity 12 GBP A
Initial charge5%
Annual charge1.35%
Min single investment£50,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.03%
Total expense ratio (TER)3.03%
Bid price-
Offer price-
Mid price96.91
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeMBM7
AC Risk Parity 12 SEK B
Initial charge5%
Annual charge1.35%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.58%
Total expense ratio (TER)3.75%
Bid price-
Offer price-
Mid price92.93
CurrencySEK
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeFCKG
AC Risk Parity 12 SGD A
Initial charge5%
Annual charge1.35%
Min single investment£50,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.99%
Total expense ratio (TER)2.99%
Bid price-
Offer price-
Mid price91.97
CurrencySGD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi code0H14
AC Risk Parity 12 USD A
Initial charge5%
Annual charge1.35%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.91%
Total expense ratio (TER)2.92%
Bid price-
Offer price-
Mid price137.74
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeEUK4
AC Risk Parity 12 USD B
Initial charge5%
Annual charge1.35%
Min single investment£1,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)3.54%
Total expense ratio (TER)3.54%
Bid price-
Offer price-
Mid price93.55
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeM9C5
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