Longchamp Treasury Fund

Investment Objectives

The Longchamp Treasury Fund’s (the “Fund”) investment objective is to achieve a performance net of fees higher than that of its benchmark, EONIA (Euro Overnight Index Average) over an investment horizon of 1 month minimum.

To achieve its objective, the Fund implements an Asset Swap for 100% of the Fund’s net assets where a basket of international stocks listed in the Euro area is traded against an exposure to money market returns in the euro area (EONIA plus a spread adjustable depending on market and liquidity conditions). The Fund may also use efficient portfolio management techniques and trade asset swaps and / or collateralised loan asset operations involving a maximum of 100% of the Fund’s net assets.

As part of its investment strategy, the Fund invests in a basket of assets (consisting in particular of international equities listed in the euro area) that are used as counterparty to swaps. The swap structure allows the Fund to benefit from returns that are expected to exceed its benchmark. This excess performance is made possible through the counterparty’s incentive to offload a basket of equities in exchange for a return based on Euro area money market rates.

The Fund is now listed on Euronext Fund Service Paris.

Performance as of 19/01/2021

NAVMTDYTDLTD
985.41€-0.03%-0.03%-1.46%

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Past performance is not an indicator of future performance.

Details

Benchmark
  • EONIA (Euro Overnight Index Average): Defined as the Euro area money market benchmark. It is calculated as a weighted average of interbank transactions of a panel of Euro area banks. It is available on Bloomberg under “EONIA Index”.
Recommended Investment Timeframe
  • Minimum 32 days. Investors’ attention is drawn to the fact that this investment is suitable for investors with visibility on their liquidity needs for more than a month. If a redemption is placed within a notice of less that 32 days, the investor may be subject to redemption fees.

Fund Facts

Legal Structure:Fonds Commun de Placement (« FCP ») UCITS français
Umbrella Fund:N/A
Fund Manager:Longchamp Asset Management SAS
Passporting:Approved in France
Base Currency:EUR
Other Currency Share Classes:N/A
Liquidity:Daily (every day that is a business day and where stocks markets are open in France)
Dealing Deadline (Subscription):11:00 am (Paris Time) on the relevant Dealing Day
Dealing Deadline (Redemption):11:00 am (Paris Time) on the relevant Dealing Day
Settlement Date (Subscription):Within 2 BDs after the relevant Dealing Day
Settlement Date (Redemption):Within 2 BDs after the relevant Dealing Day

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.

Risk Profile

Fund’s assets will mainly be invested in financial securities selected by the Investment Management Company. These securities are subject to market conditions and fluctuations.

The Fund is classified as a “Diversified” UCITS. Holders of shares or units of the Fund will be exposed to the following risks:

  • Risk of capital loss
  • Risk associated with the use of derivative instruments
  • Interest rate risk
  • Credit risk
  • Counterparty risk

Fund Share Class Details

   ISIN codeBBG codeInceptionMgmt FeePerf Fee

Institutional *

IEURFR0012993533LONTREA FP25.04.2016Max 0.15%N.A.

* Reference share classes used to report NAVs, Daily, MTD, YTD and LTD performances. 

Overview

Investment Objectives

The Longchamp Treasury Fund’s (the “Fund”) investment objective is to achieve a performance net of fees higher than that of its benchmark, EONIA (Euro Overnight Index Average) over an investment horizon of 1 month minimum.

To achieve its objective, the Fund implements an Asset Swap for 100% of the Fund’s net assets where a basket of international stocks listed in the Euro area is traded against an exposure to money market returns in the euro area (EONIA plus a spread adjustable depending on market and liquidity conditions). The Fund may also use efficient portfolio management techniques and trade asset swaps and / or collateralised loan asset operations involving a maximum of 100% of the Fund’s net assets.

As part of its investment strategy, the Fund invests in a basket of assets (consisting in particular of international equities listed in the euro area) that are used as counterparty to swaps. The swap structure allows the Fund to benefit from returns that are expected to exceed its benchmark. This excess performance is made possible through the counterparty’s incentive to offload a basket of equities in exchange for a return based on Euro area money market rates.

The Fund is now listed on Euronext Fund Service Paris.

Performance

Performance as of 19/01/2021

NAVMTDYTDLTD
985.41€-0.03%-0.03%-1.46%

powered by Advanced iFrame free. Get the Pro version on CodeCanyon.

Past performance is not an indicator of future performance.

Details

Details

Benchmark
  • EONIA (Euro Overnight Index Average): Defined as the Euro area money market benchmark. It is calculated as a weighted average of interbank transactions of a panel of Euro area banks. It is available on Bloomberg under “EONIA Index”.
Recommended Investment Timeframe
  • Minimum 32 days. Investors’ attention is drawn to the fact that this investment is suitable for investors with visibility on their liquidity needs for more than a month. If a redemption is placed within a notice of less that 32 days, the investor may be subject to redemption fees.
Fund Facts

Fund Facts

Legal Structure:Fonds Commun de Placement (« FCP ») UCITS français
Umbrella Fund:N/A
Fund Manager:Longchamp Asset Management SAS
Passporting:Approved in France
Base Currency:EUR
Other Currency Share Classes:N/A
Liquidity:Daily (every day that is a business day and where stocks markets are open in France)
Dealing Deadline (Subscription):11:00 am (Paris Time) on the relevant Dealing Day
Dealing Deadline (Redemption):11:00 am (Paris Time) on the relevant Dealing Day
Settlement Date (Subscription):Within 2 BDs after the relevant Dealing Day
Settlement Date (Redemption):Within 2 BDs after the relevant Dealing Day
Key Professionals

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.

Risk Profile

Risk Profile

Fund’s assets will mainly be invested in financial securities selected by the Investment Management Company. These securities are subject to market conditions and fluctuations.

The Fund is classified as a “Diversified” UCITS. Holders of shares or units of the Fund will be exposed to the following risks:

  • Risk of capital loss
  • Risk associated with the use of derivative instruments
  • Interest rate risk
  • Credit risk
  • Counterparty risk
Shares

Fund Share Class Details

   ISIN codeBBG codeInceptionMgmt FeePerf Fee

Institutional *

IEURFR0012993533LONTREA FP25.04.2016Max 0.15%N.A.

* Reference share classes used to report NAVs, Daily, MTD, YTD and LTD performances.