Winton Global Alpha Fund
About this Fund
Fund Detail
| PDS | https://informedinvestor.com.au/view/pds/100064-2023-07-01-02:58.pdf |
| FUND MANAGER | Winton Capital Management |
| ASX Code | |
| APIR | MAQ0482AU |
| ASSET CLASS | ALTERNATIVES |
| INVESTMENT STYLE | The Fund aims to generate long-term total returns by investing in exchange-traded futures contracts, exchange-traded forward contracts and collective investment vehicles (Underlying Funds) managed or advised by Winton or its related bodies corporate that provide diversified exposure to underlying investments such as equities, fixed income, credit, interest rates, currencies, commodities and cryptocurrencies |
| INVESTMENT PROFILE | The Fund seeks to achieve its investment objective by employing a diversified managed futures strategy that combines a core allocation to systematic trend following, with complementary quantitative investment strategies developed by Winton |
| CURRENCY MANAGEMENT | Unhedged |
| INCEPTION DATE | 28-03-2008 |
| BENCHMARK | Barclay CTA Index |
| FUND SIZE | Barclay CTA Index |
| DISTRIBUTION FREQUENCY | Half-yearly |
| NO. OF HOLDINGS | 100 futures contracts |
| FEES | 1.48% p.a. |
| STRUCTURE |
Benefits
| Benefits | The Fund aims to generate long-term total returns from a specialist managed futures strategy. While historically providing strong absolute returns, the Winton Global Alpha Fund can also provide valuable portfolio diversification benefits. With the potential to generate positive returns in both rising and falling markets, an appropriate allocation to this strategy may help smooth portfolio returns during inevitable market downturns. Potential for attractive long-term returnsThe Fund has a strong performance track record. Since its inception in May 2007, it has outperformed both global and Australian equities while still maintaining lower volatility. Low correlation to traditional asset classesThe Fund has historically delivered performance with a low long-term correlation to traditional asset classes such as equities and bonds. It is not expected to outperform in all market conditions. Historically, the Winton Global Alpha Fund has been able to preserve capital more efficiently during periods where other markets were experiencing large draw-downs. The Fund also demonstrated strong performance during the Global Financial Crisis, where correlations across asset classes increased and markets were unstable. Diversified approach to investingBy actively trading a portfolio of approximately 100 liquid exchange-traded futures markets across a range of sectors, Winton has diversified sources of return. |
| RISK LEVEL | |
| INVESTOR SUITABILITY |
Risks
| Title | |
| Detail |
Key Features
Investment objectiveThe Winton Global Alpha Fund aims to generate long-term total returns from a specialist managed futures strategy. Futures are contracts that allow investors to buy or sell an asset (for example commodities, equities, bonds) on a specified future date at an agreed price. The fund can potentially benefit from rising and falling markets, taking advantage of either a rise in the underlying price (if it takes a 'long' position) or a fall in the underlying price (if it takes a 'short' position). Investment strategyWinton aims to achieve strong long-term returns without relying on general growth in asset values. It pursues a diversified trading strategy and targets risk, not return. The fund trades approximately 100 global futures markets, across categories such as share indices, bonds, interest rates, currencies and commodities. Winton further believes that trading strategies, by their nature, need to be constantly updated in order to maintain their competitive edge. For this reason, Winton invests heavily in a program of statistical research. The Winton Investment System, largely automated and based on mathematical models derived through statistical research, is a result of over 25 years of scientific research into financial markets. The investment team:
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Mandate
The Fund will invest in exchange-traded derivatives (futures), cash and cash equivalents. The futures may have exposure to the following underlying assets:
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