Longchamp Trocadero US Equity Defensive Fund

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Strategy Overview

The Trocadero US Equity Defensive Fund is designed with the following objectives :

  • Efficient SPX Exposure: Replicates US Equity Market performance via passive SPX exposure.
  • Drawdown Reduction: Addresses the market timing issue thanks to a defensive overlay of QIS strategies that aims to significantly reduce max drawdown.
  • Long-Term Outperformance: Aims to outperform the SPX index over the long term.

A QIS follows a systematic investment process, implemented by investment banks. These strategies are strategically designed to adopt distinct behaviors based on the ever-evolving dynamics of specific market drivers.

 

Funds Facts

ISIN Code:

FR001400M337

Investment Manager:

Longchamp Asset Management SAS

Regulatory Category:

French RAIF
FPS (Fonds Professionnel Spécialisé), regulated as an AIF under AIFMD

Legal Structure: 

FCP (Fonds Commun de Placement)

Domicile:

France

Depositary & Custodian:

Société Générale Securities Services

Administrator:

Société Générale Securities Services

Auditor:

PwC

Dealing Frequency:

Weekly

Launch Date:

15 December 2023

Reference Currency:

EUR

Distribution Policy:

Accumulation

Minimum Investment:

100,000

Management Fees:

0.75% and 15% performance fees

FR001400M337

Performance as of 2024-04-12

NAV

1 085,78 €

YTD

+8,43%

MTD

+1,40%

3 YEARS

-

LTD

+8,58%

Past performance is not an indicator of future performance.

Longchamp AM's QIS Expertise

Longchamp AM has built an expertise in QIS since 2018, aimed at enhancing traditional portfolio performance and mitigating specific portfolio risks through an actively managed allocation of QIS strategies.

Driven by our clients’ evolving needs, Longchamp AM has built unique QIS solutions, that are uncorrelated to equity and bonds, with a focus on delivering alternative income sources, minimizing drawdowns and volatility, and convex behavior in hostile market environments.

Our offering :

Industry Oversight
  • We maintain an ongoing dialogue with leading QIS Providers, enabling us to vigilantly track innovations and fine-tune our analytics. This commitment to staying ahead ensures that our clients benefit from the latest advancements in the QIS landscape.

Independence in Strategy Selection
  • Our approach is characterized by impartial strategy selection, driven by a rigorous evaluation process. By identifying the most promising candidates and discarding less relevant options, we create portfolios that truly align with our client’s goals.

Risk Management
  • Risk management is a core principle embedded in our portfolio construction and management. Our strategy involves a blend of proprietary research and insights from prominent financial institutions, ensuring a holistic approach to risk mitigation.

Active Management
  • Our continuous monitoring framework leads us to adapt portfolios swiftly in response to changing market dynamics and emerging opportunities, maximizing returns while minimizing risk.

Moreover, alongside classical valuation metrics, Longchamp AM has developed proprietary metrics that offer a deeper understanding of strategy behaviors and their contributions to convexity in comparison to equity and bond benchmarks. This enables us to provide unparalleled insights into the dynamics of our strategies.

Key Professionals

David Armstrong

President – Managing Director

David is Chief Executive Officer at Longchamp Asset Management, which he founded in 2013. Previously, he was a Managing Director at Morgan Stanley & Co. International Plc, heading the investment bank’s Funds and Fund Linked business globally. In particular, he was in charge of the FundLogic UCITS Platform and served as President of the French asset management company, FundLogic SAS. Prior to joining Morgan Stanley, David had spent fourteen years within the Global Equity and Derivatives Solutions division at Société Générale. After joining the group in Paris, David moved to Milan to head the global capital markets operations including all Equity and Fixed Income activities. He also chaired the Italian alternative asset management company, Lyxor SGR. Thereafter, he moved to New York to head up Structured Products Sales for the Americas. David holds a master’s degree in Business Administration from EDHEC, Lille, France.

Lorenc Golemi

Head of Financial Engineering and Chief Risk Officer

Lorenc is the Chief Risk Officer at Longchamp AM. Before joining Longchamp AM, Lorenc worked in consultancy and advisory in investment banking and asset management. Previously he worked as Portfolio Manager, Risk Manager and Financial Engineer at UBS AM, CommerzBank and Dresdner Kleinwort Benson. He was in charge of systematic strategies and risk management of volatility and absolute return funds. Lorenc holds an Engineer degree in computer science and a master’s degree in applied mathematics. 

Jean-François Grégoire

Senior Advisor

Jean-François is a Senior Advisor to Longchamp AM. Previously, he spent a remarkable 25-year career at Société Générale where, having started as a derivatives trader in 1996, he occupied a number of senior positions around the world, before becoming the Head of Global Markets from 2019 to 2021.

Jean-François graduated from Ecole Polytechnique and ENSAE.