We are proud to announce that Long/Short Selection – Lynx was selected as the Best Multi-Manager Fund – Equity Hedge category during the Hedgeweek European Virtual Awards Networking Ceremony 2021.
33 years in the making and seven consecutive years of winning awards for this fund must be close to a record. To tweak a quote from Sean Connery: “We have not aged but matured!” We will continue to strive as one of the only fund of funds dedicated to European managers left as many of our competitors have given up. A big thank you to all our investors, colleagues and supporters!
Lynx does it again…!
Lynx does it again…!
We are proud to announce that Long/Short Selection – Lynx was selected as:
This is the second consecutive year we win this award from HFR and even more rewarding to receive the best European Fund of Hedge Fund award across all categories.
Six years in a row of winning awards for this fund has been rewarding and unmatched by many of our peers so thank you to all who have supported this fund which has been part of Notz Stucki’s long history.
Lynx does it again…!
Lynx does it again…!
We are proud to announce that Long/Short Selection – Lynx was selected as:
This is the second consecutive year we win this award from HFR and even more rewarding to receive the best European Fund of Hedge Fund award across all categories.
Six years in a row of winning awards for this fund has been rewarding and unmatched by many of our peers so thank you to all who have supported this fund which has been part of Notz Stucki’s long history.
Chart of the Month – Active Management is back!
Active Management is back!
Source: Notz Stucki
During March, the Covid-19 pandemic has forced authorities of a vast majority of countries to implement lockdowns and impose physical distancing measures to contain the spread of the virus. Almost all economic sectors have been literally shut down overnight. This unprecedented situation resulted in some of the most volatile financial markets on record and one of the fastest deleveraging event across all asset classes in history. From the peak of 12 February to the lows of 23 March global equity markets declined approximately 34% showing their worst quarterly performance since 1987.
Contrary to what happened during the financial crisis in 2008, central banks took actions very quickly through massive liquidity injections and governments put huge fiscal stimulus on the table. These measures helped stabilize financial markets but let equity investors with huge uncertainty to navigate markets going forward.
We believe that stock picking, a long/short approach and active exposure management should be favored with a focus on:
Countries which are able to manage both the health and economic crises better.
Sectors which will not be too much impacted by the economic crisis and become impaired.
Companies with high quality earnings and cash flows, strong balance sheets and low debt.
In this difficult environment, Lynx’s strategy to diversify assets across a limited range of independent, absolute return oriented money managers with interests aligned with their investors, worked well as the fund’s NAV declined only -6.9% compared to the equity market which lost -24.3% since the peak in February. This capital protection on the downside is even more remarkable considering that fact that Lynx captured almost 2/3 of the market upside with 40% of the market volatility in 2019. A good way to sleep well while remaining invested in markets?
Lynx, best Long/Short Equity Fund of Hedge Funds
Lynx racks up the Banco award for second consecutive year in a row.
We are proud to announce that Long/Short Selection – Lynx was selected as the best Long/Short Equity Fund of Hedge Funds over 5 years during BANCO Swiss Hedge Funds Awards 2019 ceremony that took place in Geneva on the 31st of October.
Caron Bastianpillai, manager of the fund
We are particularly proud to receive this award for the very challenging market period including 2016 and Q4 2018.
This is the fifth consecutive year that Long/Short Selection – Lynx wins a performance award (second consecutive Banco Award in a category covering all Equity Long /Short strategies). The restructuring of the portfolio into a more concentrated version of high conviction ideas continues to pay off.
Lynx scores a double in hedge fund awards
Lynx racks up two awards on the same night, at different events
Caron Bastianpillai, Manager of the fund
In a universe of European Long Short managers that has been in steady decline since its peak in 2008, due in part to the lack of scalability in managing assets in the region for liquidity reasons and the ongoing political turmoil across the region, it should be of no surprise that investors have shied away from this space. However, this is where the opportunity set lies in terms of generating alpha through bottom-up stock picking; being small and nimble in a market that is swayed by market volatility has enabled our managers to outperform the market index and our peers over 1,3 and 5 years.
This is the fourth year in a row that Long/Short Selection Lynx wins an InvestHedge Award in the category of Best European Strategies. It is also the first time that it wins a BANCO Swiss Hedge Fund Award for Best Long / Short Equity fund over 5 years. With a Sharpe ratio of 1.63% (2.16% in USD), the restructuring of the portfolio into a more concentrated version of high conviction ideas has paid off.
Lynx scores a double in hedge fund awards
Lynx racks up two awards on the same night, at different events
Caron Bastianpillai, Manager of the fund
In a universe of European Long Short managers that has been in steady decline since its peak in 2008, due in part to the lack of scalability in managing assets in the region for liquidity reasons and the ongoing political turmoil across the region, it should be of no surprise that investors have shied away from this space. However, this is where the opportunity set lies in terms of generating alpha through bottom-up stock picking; being small and nimble in a market that is swayed by market volatility has enabled our managers to outperform the market index and our peers over 1,3 and 5 years.
This is the fourth year in a row that Long/Short Selection Lynx wins an InvestHedge Award in the category of Best European Strategies. It is also the first time that it wins a BANCO Swiss Hedge Fund Award for Best Long / Short Equity fund over 5 years. With a Sharpe ratio of 1.63% (2.16% in USD), the restructuring of the portfolio into a more concentrated version of high conviction ideas has paid off.
Chart of the Month – Alpha generation is back!
Alpha generation is back!
Source: Notz Stucki
Equity markets have entered into a new volatility regime since February 2018. This could have been expected with the beginning of the end of QE decided by all major central banks since almost 10 years following the global financial crisis.
During this period of massive liquidity injections in markets, equities have performed well, especially in the US, particularly in the healthcare and technology sectors. The European economic recovery has been slower to materialize than in the US and the MSCI Europe Index was up +28.5% over the last 5 years.
Active managers like fundamental stock pickers or equity long/short managers have struggled to deliver alpha in a context of risk on/risk off mode driven by macro factors. The scenario has started to change over the last 12 to 18 months as can be shown on the cumulative alpha generated the managers selected in Lynx compared to European equities. Since February 2017, Lynx has generated more than 10% of alpha compared to the MSCI Europe Index.
With a lower correlation between stocks and sectors and a slow normalization of interest rates, we think that active managers should continue to deliver alpha and should be the approach to favor when investing in equities.
