The Spotlight | Generali Investments

Alternative investing: finding the ‘edge’ with Lumyna

July 20, 2021 Generali Investments
The Spotlight | Generali Investments
Alternative investing: finding the ‘edge’ with Lumyna
Show Notes Chapter Markers

PLEASE BE AWARE THAT THE CONTENT OF THIS PODCAST IS ONLY FOR PROFESSIONAL INVESTORS AT, BE, DE, ES, FR, IT, UK, NL, LU, DK, NO, PT, SE. IT IS NOT ADDRESSED TO RETAIL INVESTORS OR TO ANY US PERSON.

For over a decade, Lumyna has focused on bringing the best of the alternative investment universe to the UCITS marketplace, identifying hedge fund managers who are well-placed to deliver alpha across all market conditions. Paul Holmes, Head of Distribution, discusses why understanding a manager’s ‘edge’ is so crucial, the opportunities available in event-driven investing and commodities, and how Lumyna’s fund managers are approaching inflation uncertainty.

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Disclaimer

Lumyna Funds - PSAM Global Events UCITS Fund 

Investment Objective and Policy: the Investment objective of the PSAM Global Event UCITS Fund is to seek superior risk adjusted returns by exploiting pricing inefficiencies in the securities of companies involved in corporate actions or events. P. Schoenfeld Asset Management ('PSAM') will seek to achieve the sub-Fund's investment objective through a diversified portfolio of global event driven investments. Three strategies are considered when investing: Merger Arbitrage, Distressed/Stressed Credit Opportunities and Special Situations. The Fund is actively managed. • Life of Fund: Unlimited • Holding period: (insert information) • Launch date: 03.09.2010 • Legal Structure: SICAV/ UCITS • Reference currency: EUR • Fees (Class B Accumulation): Entry charge: 0%; Exit Charge: 0%; Ongoing charge: 2.09%; Performance fee: 15.00% 15.00% of New Net Appreciation • Management fee: 0.40% • Risks: credit risk, derivates risk, equity risk, counterparty risk, liquidity risk. Your investment is not guaranteed, and its value can go down as well as up. For more information about risk, please see the 'Risk Factors' section of the prospectus.

 
Lumyna Funds - BofA MLCX Commodity Alpha UCITS Fund 

Investment Objective and Policy: the Sub-Fund aims to track the BofA Merrill Lynch Commodity Index eXtraSM AF5T Total Return Index (the "Index"), providing a market neutral exposure to commodity markets. The Sub-Fund is passively managed and is managed in reference to the Index. The Index is based on sub-indices comprised of the principal commodity sectors: energy, base metals and grains and oil seeds. The Index takes a long position in the BofA Merrill Lynch Commodity MLCXXA1 Excess Return Strategy and a corresponding short position in the Bloomberg Commodity ex-Precious Metals IndexSM. A party agreeing to buy an asset, is said to take a "long" position in an asset and a party agreeing to sell the asset is said to take a "short" position. The Index aims to exploit the difference in the performance of the sub-indices on five times leveraged basis. • Life of Fund: Unlimited • Holding period: (insert information) • Launch date: 09.09.2010 • Legal Structure: SICAV/ UCITS • Reference currency: USD • Fees (Class B Accumulation): Entry charge: 0%; Exit Charge: 0%; Ongoing charge: 0.79%; Performance fee: None • Management fee: 0.60% • Risks: investment risks,  counterparty risk, derivates risk, commodity sector concentration risk. Your investment is not guaranteed, and its value can go down as well as up. For more information about risk, please see the 'Risk Factors' section of the prospectus.

Marketing communication relating to Lumyna Funds SICAV (the “Fund”) and its compartments BofA MLCX Commodity Alpha UCITS Fund and PSAM Global Events UCITS Fund (the “Sub-Funds”). Only for professional investors AT, BE, DE, ES, FR, IT, UK, NL, LU, DK, NO, PT, SE. It is not addressed to retail investors or to any US Person.

The Fund is an open-ended investment company with variable share capital (SICAV) under Luxembourg Law, qualifying as an undertaking for collective investment in transferable securities (UCITS). Generali Investm

Lumyna is one of the world’s leading fund platforms for alternative investment strategies. Could you begin by telling us a bit more about the company, for example, what kind of strategies are offered by Lumyna? Is there a particular Lumyna ‘style’?
How are you approaching inflation in the Lumyna PSAM Global Events UCITS Fund – do you expect inflation to be structural and embedded, or will it be a passing phenomenon? And where are you finding opportunities in such uncertainty?
How does the Lumyna BofA MLCX Commodity Alpha UCITS Fund make consistent returns independent of whether underling commodity prices are rising or falling?
Finally, is there any news we’ve missed that you’d like to share with our listeners about Lumyna?