Key facts

We aim to efficiently capture uncorrelated European equity returns with managed volatility and downside protection. The strategy utilises a bottom-up fundamental investment process based on extensive stock research. A disciplined macro framework guides the exposure management.

Michael Browne and Steve Frost filter their universe of around 600 mid-large cap European companies using their quantitative and qualitative analysis.

For the long book they are looking for companies with positive business strategies and metrics and for the short book they are looking for companies with negative business strategies and metrics. The product has a broad European focus.

Portfolio characteristics European Long/Short
Benchmark MSCI Europe (LC) for illustrative purposes only
Absolute return objectives Upside capture
Downside protection
Managing volatility
Alpha generation on the long and short book
Market capitalisation Large- and mid-cap
Sector/country allocations Pan-European – no formal country or sector exposures
Number of stocks 40-70
Gross exposure range +50% to +200%
Net exposure range -30% to +100%
Futures/options No
Portfolio turnover 3-5x
Inception 1 January 2001
Strategy insight Download European Long/Short Insight

The characteristics shown are guidelines only and not hard risk limits.