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March 2024
All data as of 03/31/2024
NameAS Swiss Equity Fund- AS Swiss Equity Long/Short
Fund TypeEquity fund Long/Short
Launch dateOctober 2009
Fund SizeCHF 94.9 million
ManagersAlexandre Stucki& Nathalie Kappeler
Dividends & IncomeReinvested
Legal StatusSwiss Fund
DomicileSwitzerland
CurrencyCHF
LiquidityWeekly
CustodianBanque Cantonale Vaudoise
AdministratorGERIFONDS SA
AuditorKPMG
ISINCH0049041186
Swiss Valor4904118
BenchmarkSRC10G (SMI risque control)

Investment Strategy

AS Swiss Equity Fund – AS Swiss Equity Long/Short  is a long-term Swiss equity fund with an equity hedge strategy. Net market exposure can range from -100% to 200%. Short selling is done on the SMI Index (Swiss Market Index) or on SMI and SMIM (SMI Mid-Caps) stocks only. Cash can be high to preserve capital. The objective of the fund is to achieve a steady positive return on capital, with a minimum risk of loss (maximum drawdown). The volatility of the fund is expected to approach 5%. Active portfolio management is based on alpha generation. The liquidity of the fund is weekly.

Performance

A convincing performance:With a 10-year history, the fund outperformed its benchmark index and never had a negative gross annual return.

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10 years202420232022
AS Swiss Equity Long/Short9.9 %0.8 %1.4 %-15.4 %
SRC10G ¹SMI risque control ²34 %7.5 %2.9 %
SMI#BEZUG!#BEZUG!#BEZUG!#BEZUG!

¹ HFRX Equity Edge (CHF) basé sur le HFRX Equity Edge USD (USC/CH calculé par ASIM jusqu’en juillet 2022 et SRC10G (SMI risque control) à partir d’août 2022

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Fees
All in Fee1.25%
Performence Fee20.00%
Hurdle RateLibor CHF 3 months

Risk

The fund has a low level of volatility and historical maximum loss. The fund is regulated by FINMA and collaborates with renowned institutions such as its fund administrator, custodian bank and auditor.

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Annualized VolatilityAS Swiss Equity Long/ShortSMI
3 years / 5 years6.2% / 10.5%12.6% / 16.1%
Valu at Risk-3.1 %-11.0 %

Investment Methodology

Active Management: Active portfolio management based on alpha generation. Regular return on capital with minimized risk of depreciation.

Clear and transparent strategy: Net exposure to the market -100% -200%. Short sales are made on SMI and SMIM securities as well as on the SMI index.

Risk Reduction: Managers invest in money market instruments and / or options for capital protection purposes.

Fundamental analysis:
Long stocks: The fund invests in companies offering steady capital growth over the medium term. The choice of securities stems from a primary fundamental analysis.
Short stocks: The fund sells short securities of companies whose growth or valuation is at risk. The choice of securities stems from a primary fundamental analysis.

The information published is only informative and in no way represents an offer to conclude. Units of these funds may only be subscribed on the basis of the information contained in the fund’s prospectus. References to past performance cannot guarantee their future evolution. Performance data does not include commissions and fees that may be charged when subscribing and redeeming units.