FUND OVERVIEW

Unigestion’s Multi Asset Navigator aims to deliver smooth returns of cash + 5% gross of fees across all market conditions over a 3-year rolling period. It seeks to achieve this by capturing the upside during “bull” markets while protecting capital during market downturns.

Our edge

  • Enhanced diversification, delivered through a large universe of traditional and alternative risk premia, which we achieve with an allocation based on macro regimes
  • Dynamic risk management, as we believe risk is multi-dimensional and more than just realised volatility


INVESTMENT PROCESS

The fund adopts a three-step approach to navigating varying market conditions: strategic allocation, dynamic allocation and opportunistic allocation.

Our long-term, strategic allocation is anchored around strong macroeconomic analysis, which has shown that the economic cycle can be split into four macro regimes: steady growth, recession, inflation shock and market stress. In our view, the behaviour of assets can be linked to different macro conditions and we aim to build a portfolio that is balanced across these four regimes. In addition, we believe there is an increased need for new sources of returns beyond traditional assets given today’s low yield environment, therefore we have expanded the investment universe into the alternative space to provide extra diversification.

We supplement this first stage with a short to mid-term dynamic allocation strategy that seeks to adapt the portfolio to ever-changing economic and market conditions. It is based on proprietary indicators, called “nowcasters”, which assess conditions in real time and systematically adjust the portfolio’s asset allocation. Rather than relying on a purely quantitative system to perfectly assess forward-looking risks, we complement this approach with qualitative analysis to determine relative value across and within asset classes.

Finally, the opportunistic allocation of the investment process aims to generate investment ideas outside the strategic and dynamic universe. These ideas should be either idiosyncratic opportunities, with low correlation to the rest of the portfolio and low directional market exposure, or absolute return in nature, with limited downside.





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Navigating capital markets with Unigestion

Salman Baig, Portfolio Manager, draws from the world of sailing to illustrate how a multi asset portfolio that combines dynamic allocation with enhanced diversification can deliver a smoother investment journey for clients.








LITERATURE & INSIGHT

Multi Asset Navigator team’s latest views on market developments as well as their monthly investment commentaries and in-depth thought leadership papers.




MiViews Q1 2021: All Eyes on Inflation

Inflation will be the greater risk in 2021, not recession. Florian Ielpo, Head of Macroeconomic Research, assesses the outlook for the months ahead and explains why this year should bring about a better balance between growth and inflation assets.






TEAM

THE TEAM BEHIND MULTI ASSET NAVIGATOR

Unigestion’s team brings together a combination of skills, including experience in managing sophisticated single and multi asset portfolios, as well as strategies in alternative risk premia. This combined heritage from both traditional and alternative investments underscores the team’s ability to build a portfolio that draws from the widest spectrum of risk premia.

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Jerome Teiletche

Head of Cross Asset Solutions
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Guilhem Savry

Head of Global Macro & Dynamic Asset Allocation
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Olivier Blin

Head of Systematic Strategies
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Florian Ielpo

Head of Macroeconomic Research
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Olivier Marciot

Senior Portfolio Manager
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Joan Lee

Senior Portfolio Manager
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Eugenio Rodriguez

Portfolio Manager
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Salman Baig

Portfolio Manager
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Joshua Seager

Portfolio Manager
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Jeremy Gatto

Portfolio Manager



KEY FUND INFORMATION


247.7mil

USD AUM


15 Dec 2014

Launch date




UCITS

Fund structure


LU1132139657

Main share class


Daily

Liquidity



Other share classes and currencies available.