Lyxor Asset Management has added an additional nine hedge funds to its managed account platform since January 2009.
Over the same period, Lyxor has increased the platform’s assets under management by USD3bn.
The Lyxor managed account platform replicates over 100 of the industry’s top-rated hedge funds.
The managed accounts launched in 2009 are:
The Apollo Distressed Fund, which seeks to generate above market risk-adjusted returns by capitalising on the proprietary information generated across the Apollo platform. The fund invests across expansionary and recessionary market cycles primarily through liquid and illiquid investments in the securities of leveraged companies in North America and Europe through distressed investments, value driven investments and special opportunities.
The Centaurus International Risk Arbitrage Fund, which aims to invest in risk arbitrage situations on a global basis, with an emphasis on Europe and Asia, and across all sectors. The strategy focuses on liquid announced and partially-announced corporate actions, defined as all situations with a hard catalyst, a public announcement such as a takeover, merger, tender offers, liquidation, spin-off, corporate reorganisation, rights issues or other related transactions.
The Marathon Distressed Opportunities Fund, which invests in distressed securities and special situations in the global high yield debt universe.
The Gartmore European L/S Fund, which replicates the AlphaGen Capella strategy managed by Roger Guy and Guillaume Rambourg, the flagship of the AlphaGen range of funds. The portfolio will contain a blend of long-term, research–driven strategic positions and short–term, opportunistic tactical positions.
The GLG European Opportunity Fund, a trading oriented long/short equity programme managed by Markus Mez focusing on highly liquid pan-European equities, particularly in consumer, financials, energy/utilities, TMT and industrials. The investment strategy focuses on technical analysis after bottom-up and top-down analyses.
The Ellington Quantitative Equity Fund, which aims to realise high appreciation in the value of its assets, primarily by employing statistical and quantitative fundamental analysis with a focus on small to mid caps in North America. The fund operates process-driven trading strategies, in which trading decisions are based on statistical forecasts of equity prices.
The Zebra Equity Fund, a market-neutral long/short US equity strategy. Zebra’s stock valuation model assesses a stock’s fair value based on three fundamental variables: current earnings per share, analysts’ consensus forecast of the firm’s future EPS, and the long Treasury bond yield.
The Acorn ARS Fund, which is based on the Lyxor/Acorn strategy, a fund on the platform since December 2001, but Ultra ARS is authorised to use double the maximum options exposure. The fund uses a butterfly options arbitrage strategy to capture the spread between the implied volatility of S&P 500 listed options and the historical volatility of the S&P 500 index.
The PJM Fund, which implements a systematic dynamic asset allocation strategy that adapts to both the direction and volatility of prices in each market with a much higher weighting to markets with a low recent risk profile and lower weights to high risk price paths, i.e. by strictly limiting the risk on every trade.
