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IPM Systematic Macro UCITS Fund

IPM Systematic Macro Fund Strategy Overview

The IPM Systematic Macro UCITS Fund (the “Fund”) offers access to IPM’s Systematic Macro Strategy (which objective is to generate consistent positive returns) in a UCITS-compliant format with daily liquidity. The strategy is based on IPM’s proprietary investment models that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns.

Informed Portfolio Management AB (“IPM” which manages approximatively $9bn of assets as of 31 December 2018) is based in Sweden, and was founded in 1998 with the purpose of assisting institutional investors improve their overall returns derived from a traditional 60% Bond / 40% Equity portfolio. IPM currently employs 60 employees of which 27 are involved in research and investments.

  • Systematic global macro implemented through 5 different portfolios (grouped in 4 relative value portfolios and 1 directional)
  • Non market price dependent strategy using predominantly fundamental information
  • Highly diversified investment universe of 40+ single instruments spaning across currencies (developed and emerging), government bonds and equity markets
  • Expected return of each instrument traded is evaluated across four investment dimensions and their underlying specific investment ideas (circa 50), each being evaluated independently

Performance as of 15/02/2019

NAVMTDYTDLTD
1,061.22€-1.84%-1.31%6.12%
Loading

Past performance is not an indicator of future performance.

Details

Strategy
  • Systematic global macro (non-market price dependent) using predominantly fundamental information
General Fund Guidelines
  • Based on a forward-looking investment approach based solely on fundamental input that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns
Instruments & Geography
  • Highly diversified investment universe of 40+ single instruments
    • Currencies (developped and emerging markets)
    • Government bonds
    • Equity markets
Portfolio Construction
  • Relative Value (Currencies, Relative Bonds and Relative Equities portfolios for 85% of the strategic risk): Each instrument is evaluated relative to a composite of the portfolio constituents rather than in absolute terms
  • Directional (Asset Class portfolio for 15% of the strategic risk): Each instrucment is evaluated on an absolute basis with the objective of capturing the overall direction of equity and bond markets
  • Risk allocation of the 5 portfolios is fixed strategically, but the allocation over time is proportional to perceived opportunities

Fund Facts

Legal Structure:UCITS Irish OEIC
Umbrella Fund:IPM UCITS Umbrella ICAV
Fund Manager:IPM
Passporting:Approved in Germany, Italy, Spain, Sweden, U.K., France, Austria, Sweden, Belgium, Singapore, Swizterland, FInland and Luxembourg
Base Currency:USD
Other Currency Share Classes:EUR, GBP, CHF, SEK
Liquidity:Daily
Dealing Deadline (Subscription):12 midday Irish time 2 Business Days prior to the relevant Dealing Day
Dealing Deadline (Redemption):12 midday Irish time 2 Business Days prior to the relevant Dealing Day
Settlement Date (Subscription):5:00 p.m. Irish time 2 Business Days after the relevant Dealing Day
Settlement Date (Redemption):5 Business Days after the relevant Dealing Day

Key Professionals

Anders Lindell
Chairman of the Board & Founding Partner

Anders Lindell bears the overall responsibility for the strategic direction of the firm, chairs the Investment Management and Risk Management Committees. Since co-founding IPM in 1998 he has held several senior positions at the firm, most recently CEO. Prior to establishing IPM, Anders worked at the Fixed Income Trading division at JP Bank, a then leading Swedish Fixed Income trading house. Anders holds a M.Sc. in Industrial Engineering and Management from the Institute of Technology at Linköping University and a M.Sc. in Management from MIT Sloan School of Management.

Stefan Nydahl
Chief Executive Officer

Stefan Nydahl is responsible for the day-to-day management of the firm. Prior to joining IPM in 2015 Stefan spent 9 years with the Brummer Group, first as a portfolio manager at the Nektar fund, then in 2006 as a founding partner of Archipel Asset Management where he held the combined position as Managing Director and Chief Investment Officer until 2015. Previously he has held positions as portfolio manager at AMF Pension and Quantal Asset Management and as a research associate at Quantal International and economist at Sveriges Riksbank. He holds a PhD in economics from Uppsala University.

Björn Österberg
Managing Director, Chief Investment Officer & Head of Research

Björn Österberg is responsible for the management and development of IPM’s investment activities. He is a member of the Investment and Risk Management committees. Björn joined IPM in 2008, with extensive experience in managing quantitative research teams as well as in proprietary trading in a range of asset classes. Prior to IPM he was Head of Quantitative Research and a member of the proprietary trading team at JP Bank, Head of Quantitative Research at Unibank/Nordea, and a Senior Equity Portfolio Manager at AP4. Björn holds an M.Sc. in Engineering Physics from the Royal Institute of Technology in Stockholm, and has several years of additional studies in both Financial Economics and Macro Economics from Stockholm University.

Fund Share Class Details

* Reference share classes used to report NAVs, Daily, MTD, YTD and LTD performances.
Includes 0.40% p.a. administration fee covering services providers, audit, passporting, KIID management costs and Risk Management responsibilities performed by Morgan Stanley International plc.

Overview

IPM Systematic Macro Fund Strategy Overview

The IPM Systematic Macro UCITS Fund (the “Fund”) offers access to IPM’s Systematic Macro Strategy (which objective is to generate consistent positive returns) in a UCITS-compliant format with daily liquidity. The strategy is based on IPM’s proprietary investment models that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns.

Informed Portfolio Management AB (“IPM” which manages approximatively $9bn of assets as of 31 December 2018) is based in Sweden, and was founded in 1998 with the purpose of assisting institutional investors improve their overall returns derived from a traditional 60% Bond / 40% Equity portfolio. IPM currently employs 60 employees of which 27 are involved in research and investments.

  • Systematic global macro implemented through 5 different portfolios (grouped in 4 relative value portfolios and 1 directional)
  • Non market price dependent strategy using predominantly fundamental information
  • Highly diversified investment universe of 40+ single instruments spaning across currencies (developed and emerging), government bonds and equity markets
  • Expected return of each instrument traded is evaluated across four investment dimensions and their underlying specific investment ideas (circa 50), each being evaluated independently
Performance

Performance as of 15/02/2019

NAVMTDYTDLTD
1,061.22€-1.84%-1.31%6.12%
Loading

Past performance is not an indicator of future performance.

Details

Details

Strategy
  • Systematic global macro (non-market price dependent) using predominantly fundamental information
General Fund Guidelines
  • Based on a forward-looking investment approach based solely on fundamental input that provide unique insights into how fundamental drivers interact with the dynamics of asset price returns
Instruments & Geography
  • Highly diversified investment universe of 40+ single instruments
    • Currencies (developped and emerging markets)
    • Government bonds
    • Equity markets
Portfolio Construction
  • Relative Value (Currencies, Relative Bonds and Relative Equities portfolios for 85% of the strategic risk): Each instrument is evaluated relative to a composite of the portfolio constituents rather than in absolute terms
  • Directional (Asset Class portfolio for 15% of the strategic risk): Each instrucment is evaluated on an absolute basis with the objective of capturing the overall direction of equity and bond markets
  • Risk allocation of the 5 portfolios is fixed strategically, but the allocation over time is proportional to perceived opportunities
Fund Facts

Fund Facts

Legal Structure:UCITS Irish OEIC
Umbrella Fund:IPM UCITS Umbrella ICAV
Fund Manager:IPM
Passporting:Approved in Germany, Italy, Spain, Sweden, U.K., France, Austria, Sweden, Belgium, Singapore, Swizterland, FInland and Luxembourg
Base Currency:USD
Other Currency Share Classes:EUR, GBP, CHF, SEK
Liquidity:Daily
Dealing Deadline (Subscription):12 midday Irish time 2 Business Days prior to the relevant Dealing Day
Dealing Deadline (Redemption):12 midday Irish time 2 Business Days prior to the relevant Dealing Day
Settlement Date (Subscription):5:00 p.m. Irish time 2 Business Days after the relevant Dealing Day
Settlement Date (Redemption):5 Business Days after the relevant Dealing Day
Key Professionals

Key Professionals

Anders Lindell
Chairman of the Board & Founding Partner

Anders Lindell bears the overall responsibility for the strategic direction of the firm, chairs the Investment Management and Risk Management Committees. Since co-founding IPM in 1998 he has held several senior positions at the firm, most recently CEO. Prior to establishing IPM, Anders worked at the Fixed Income Trading division at JP Bank, a then leading Swedish Fixed Income trading house. Anders holds a M.Sc. in Industrial Engineering and Management from the Institute of Technology at Linköping University and a M.Sc. in Management from MIT Sloan School of Management.

Stefan Nydahl
Chief Executive Officer

Stefan Nydahl is responsible for the day-to-day management of the firm. Prior to joining IPM in 2015 Stefan spent 9 years with the Brummer Group, first as a portfolio manager at the Nektar fund, then in 2006 as a founding partner of Archipel Asset Management where he held the combined position as Managing Director and Chief Investment Officer until 2015. Previously he has held positions as portfolio manager at AMF Pension and Quantal Asset Management and as a research associate at Quantal International and economist at Sveriges Riksbank. He holds a PhD in economics from Uppsala University.

Björn Österberg
Managing Director, Chief Investment Officer & Head of Research

Björn Österberg is responsible for the management and development of IPM’s investment activities. He is a member of the Investment and Risk Management committees. Björn joined IPM in 2008, with extensive experience in managing quantitative research teams as well as in proprietary trading in a range of asset classes. Prior to IPM he was Head of Quantitative Research and a member of the proprietary trading team at JP Bank, Head of Quantitative Research at Unibank/Nordea, and a Senior Equity Portfolio Manager at AP4. Björn holds an M.Sc. in Engineering Physics from the Royal Institute of Technology in Stockholm, and has several years of additional studies in both Financial Economics and Macro Economics from Stockholm University.

Shares

Fund Share Class Details

* Reference share classes used to report NAVs, Daily, MTD, YTD and LTD performances.
Includes 0.40% p.a. administration fee covering services providers, audit, passporting, KIID management costs and Risk Management responsibilities performed by Morgan Stanley International plc.

IPM UCITS Umbrella ICAV

    Access to the products presented on this website may be subject to restrictions regarding certain investor profiles and / or countries. REMINDER OF COUNTRIES HAVING AUTHORIZED PASSPORTING Information about products described in this website is exclusively dedicated to sophisticated prospective, institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations. Please find here below a list of the “Passporting” status of the products for which information is provided on this website:   NO OFFER None of the information contained in this website constitutes a solicitation or offer by Longchamp Asset Management or its affiliates (together “Longchamp Asset Management”) to buy or sell any securities, futures, options or other financial instruments or to participate in any other strategy. Information about products described in this website is exclusively dedicated to sophisticated prospective, professional clients or institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations. Pricing and other information generated through the use of data made available herein may not reflect actual prices or values that would be available in the market at the time provided or at the time that the user may want to purchase or sell a particular security or other instrument. Information contained in the website does not constitute an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorized or where they are not available for distribution in the jurisdiction of the reader of this information. In particular, the information in the Website is not for distribution in the United States. SELLING RESTRICTIONS No offering of the products described on this website, or possession or distribution of any offering material in relation thereto, is permitted in any jurisdiction unless in compliance with all applicable laws, regulations, codes, directives, orders and/or regulatory requirements, rules and guidance in force. The products described in this website may be subject to restrictions with regard to (i) persons or (ii) countries under national regulations. As a visitor of this website, it is your responsibility to be aware of and to respect all applicable laws and regulations. The visitor of this website should make its own assessment to invest into any product presented in this website. Any securities referred to on this website, or any offering material in relation thereto, will not be registered under the Securities Act. This Website is not directed to persons who are residents of the United States or to any country where the FundLogic Funds are not authorised for distribution or in which the dissemination of information regarding the FundLogic Funds on the World Wide Web is not permitted. The products described on this website may not be offered, sold, transferred or delivered directly or indirectly in the United States to, or for the account or benefit of, any U.S. Person (as defined in Regulation S under the Securities Act). Should an Internet Protocol resolution search indicate that your access to this website is coming from the United States, it is therefore subject to certain restrictions. The securities on this website have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered within the United States or to or for the account of U.S persons. Please contact us, should you evaluate this information is incorrect, and for any further information request. Longchamp Asset Management Email : ir@longchamp-am.com Tel : +33 1 71 70 40 30 The information contained in the website is for information purposes only and is not an offer (or solicitation of an offer) to buy/sell or borrow/lend the securities mentioned or to participate in any particular trading strategy. By clicking this box, I expressly acknowledge and confirm that I am not a U.S. Person (as defined in Regulation S of the U.S. Securities Act of 1933, as amended), nor am I acting on behalf of a U.S. Person. OFFERING CIRCULAR OR PROSPECTUS An offering circular or prospectus (the “Offering Documents”) referring to a specific product will be available on this website. Potential investors should base any investment decision they make solely on the basis of information contained in the Offering Documents and should read the information contained therein carefully, in particular the description of risk factors associated with any structured products. The products described on this website have been issued by Longchamp Asset Management or third party issuers. All information on this website and the Offering Documents with respect to any third party entity not affiliated with Longchamp Asset Management has been provided by, and is the sole responsibility of, such third party and has not been independently verified by Longchamp Asset Management or any other independent third party and Longchamp Asset Management accepts no liability for such information. NO INVESTMENT ADVICE Information made available on this website should not be considered as investment advice or any form of personal recommendation to purchase products described thereon. Users should consult their independent financial or other applicable advisor(s) before investing in the products described on this website. HISTORICAL PERFORMANCE Past performance information contained on this website is not indicative of future results. INDICATIVE PRICES All prices or values are indicative only, and may vary significantly from executable prices or from prices obtained from elsewhere. Price and availability of the securities are subject to change without notice. USE OF LINKS This website contains links to third party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Longchamp Asset Management of any information contained in any third party website. In no event shall Longchamp Asset Management be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site’s privacy policy may be different from those applicable to your use of this website. LIMITATION OF LIABILITY Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from interception by third parties of any information or services made available to you via this website or the act or omission of any other party involved in making this website, the data contained herein or the products or services offered on this website available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Longchamp Asset Management. Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur if you use a link to this site. Longchamp Asset Management shall prohibit anyone from creating such a link without its prior express authorization. In no event will Longchamp Asset Management or any such parties be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if Longchamp Asset Management or any other such party has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user’s equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure.

    To continue your navigation, please select your investor type:

    Institutional Investor

    Private Investor


    By clicking “Accept” you confirm that (i) you do not have your legal residence in the United States, (ii) you are not a U.S.-Person; (iii) you have been informed of the countries where the products have been passported, (iv) and that you have read the Terms of Use above and agree with them.

    Access to the products presented on this website may be subject to restrictions regarding certain investor profiles and / or countries. REMINDER OF COUNTRIES HAVING AUTHORIZED PASSPORTING Information about products described in this website is exclusively dedicated to sophisticated prospective, institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations. Please find here below a list of the “Passporting” status of the products for which information is provided on this website:   NO OFFER None of the information contained in this website constitutes a solicitation or offer by Longchamp Asset Management or its affiliates (together “Longchamp Asset Management”) to buy or sell any securities, futures, options or other financial instruments or to participate in any other strategy. Information about products described in this website is exclusively dedicated to sophisticated prospective, professional clients or institutional or qualified investors in jurisdictions where distributing these products would not be contrary to local laws and regulations. Pricing and other information generated through the use of data made available herein may not reflect actual prices or values that would be available in the market at the time provided or at the time that the user may want to purchase or sell a particular security or other instrument. Information contained in the website does not constitute an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorized or where they are not available for distribution in the jurisdiction of the reader of this information. In particular, the information in the Website is not for distribution in the United States. SELLING RESTRICTIONS No offering of the products described on this website, or possession or distribution of any offering material in relation thereto, is permitted in any jurisdiction unless in compliance with all applicable laws, regulations, codes, directives, orders and/or regulatory requirements, rules and guidance in force. The products described in this website may be subject to restrictions with regard to (i) persons or (ii) countries under national regulations. As a visitor of this website, it is your responsibility to be aware of and to respect all applicable laws and regulations. The visitor of this website should make its own assessment to invest into any product presented in this website. Any securities referred to on this website, or any offering material in relation thereto, will not be registered under the Securities Act. This Website is not directed to persons who are residents of the United States or to any country where the FundLogic Funds are not authorised for distribution or in which the dissemination of information regarding the FundLogic Funds on the World Wide Web is not permitted. The products described on this website may not be offered, sold, transferred or delivered directly or indirectly in the United States to, or for the account or benefit of, any U.S. Person (as defined in Regulation S under the Securities Act). Should an Internet Protocol resolution search indicate that your access to this website is coming from the United States, it is therefore subject to certain restrictions. The securities on this website have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered, sold or delivered within the United States or to or for the account of U.S persons. Please contact us, should you evaluate this information is incorrect, and for any further information request. Longchamp Asset Management Email : ir@longchamp-am.com Tel : +33 1 71 70 40 30 The information contained in the website is for information purposes only and is not an offer (or solicitation of an offer) to buy/sell or borrow/lend the securities mentioned or to participate in any particular trading strategy. By clicking this box, I expressly acknowledge and confirm that I am not a U.S. Person (as defined in Regulation S of the U.S. Securities Act of 1933, as amended), nor am I acting on behalf of a U.S. Person. OFFERING CIRCULAR OR PROSPECTUS An offering circular or prospectus (the “Offering Documents”) referring to a specific product will be available on this website. Potential investors should base any investment decision they make solely on the basis of information contained in the Offering Documents and should read the information contained therein carefully, in particular the description of risk factors associated with any structured products. The products described on this website have been issued by Longchamp Asset Management or third party issuers. All information on this website and the Offering Documents with respect to any third party entity not affiliated with Longchamp Asset Management has been provided by, and is the sole responsibility of, such third party and has not been independently verified by Longchamp Asset Management or any other independent third party and Longchamp Asset Management accepts no liability for such information. NO INVESTMENT ADVICE Information made available on this website should not be considered as investment advice or any form of personal recommendation to purchase products described thereon. Users should consult their independent financial or other applicable advisor(s) before investing in the products described on this website. HISTORICAL PERFORMANCE Past performance information contained on this website is not indicative of future results. INDICATIVE PRICES All prices or values are indicative only, and may vary significantly from executable prices or from prices obtained from elsewhere. Price and availability of the securities are subject to change without notice. USE OF LINKS This website contains links to third party websites. These links are provided only as a convenience. The inclusion of any link is not and does not imply an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by Longchamp Asset Management of any information contained in any third party website. In no event shall Longchamp Asset Management be responsible for the information contained on that site or your use of or inability to use such site. You should also be aware that the terms and conditions of such site and the site’s privacy policy may be different from those applicable to your use of this website. LIMITATION OF LIABILITY Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur in the event of any failure or interruption of this website, or resulting from interception by third parties of any information or services made available to you via this website or the act or omission of any other party involved in making this website, the data contained herein or the products or services offered on this website available to you, or from any other cause relating to your access to, inability to access, or use of the website or these materials, whether or not the circumstances giving rise to such cause may have been within the control of Longchamp Asset Management. Neither Longchamp Asset Management, nor any of its affiliates, directors, officers or employees, will be liable or have any responsibility of any kind for any loss or damage that you incur if you use a link to this site. Longchamp Asset Management shall prohibit anyone from creating such a link without its prior express authorization. In no event will Longchamp Asset Management or any such parties be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental damages or any other damages of any kind even if Longchamp Asset Management or any other such party has been advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any viruses which may infect a user’s equipment, failure of mechanical or electronic equipment or communication lines, telephone or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator errors, strikes or other labor problems or any force majeure.

    To continue your navigation, please select your investor type:

    Institutional Investor

    Private Investor


    By clicking “Accept” you confirm that (i) you do not have your legal residence in the United States, (ii) you are not a U.S.-Person; (iii) you have been informed of the countries where the products have been passported, (iv) and that you have read the Terms of Use above and agree with them.

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