For Existing Institutional Investors for Information Only


 

Dear investors and fellow tech enthusiasts,
 

This month, we would like to remind you that European Small Cap and Value Premia are alive and going strong, but to benefit from them, grit and discipline is needed. Do you have these in you…? 
 


Source: Investment Moats, 2023


The above graphic shows, that hanging on to a Small Cap Value portfolio for 5 years straight has rewarded investors with a median premium of 12.8% over the MSCI Europe (looking at index data from 1981 to 2023). Staying invested for 15 years straight was rewarded with a median premium of 243% over the MSCI Europe over any 15-year period, with not a single period of negative cumulative returns beyond 10 years. 

In conclusion, even in uncertain times like now, there is no uncertainty on long-term Premia. It is time to be brave and act with conviction: Fortis Fortuna Adiuvat !

Love, Thomas


Thomas Schafbauer

tsc@ram-ai.com

+41 79 238 21 34
 


Investment Insight
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Navigating the Winds of Change: Debt Ceilings, Market Fluctuations and the Resurgence of Tech

Topics: Credit, Tech Boom


The conclusion of the debt ceiling deal has brought a sense of relief to the market, resulting in a recent rally in equities and credit markets. However, with the projected high issuance of bills and potential liquidity crunch, there is little risk premium to be gained from credit markets, and the overall state of US companies remains challenging, urging investors to approach with caution amid tightening by central banks and geopolitical uncertainties.

 
Read Investment Insight


 

Clément Perrette
Senior Fixed Income Portfolio Manager


 


Research Paper of the Month
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Hedging Against Climate Change Rewards Investors
 

Topics: Risk Management, Climate Change
 

Effective risk management and identifying primary sources of risk are crucial in portfolio assessment, especially in an evolving environment where risks may shift to new horizons. This article highlights how climate change and risks associated to it embeds new opportunities for investors.
 

Read Full Article
 


Greetings from the Frontier
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On Uncircular Circularities

Topics: ESG, Circular Economy
 

Which option demonstrates a higher level of environmental conscientiousness: recycling waste or wasting recycling? What initially appears to be a straightforward inquiry evolves into a progressively intricate matter as explorations into the dynamics of infrastructure capacity, governmental supervision, and consumer behaviour unveil a surprisingly disjointed waste management landscape that appears to perpetuate more harm than good in its present state. 

 
Read Full Article
  
 
Event of the Month
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RAM AI hosted the lunch presentation 'Emerging Markets and the Integration of Artificial Intelligence' in Lugano, which gave the floor to presenters Luca Maria Gambardella, Vice-Rector for Innovation and Corporate Relations at l'Università della Svizzera Italiana, and Emmanuel Hauptmann, our CIO and Head of Systematic Equities. With the objective of discussing AI’s impact on today’s economy and society, Luca delved into its evolution, recent developments in Machine Learning, and traced contrasts and parallels between human and artificial intelligence. Emmanuel introduced how current Large Language Models and Deep Learning can help integrate more information into investment processes and have already started transforming workflows, such as the writing of market comments and the coding of strategies.

 


 
 

Performance
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Annual performance and other features about the strategy are available in the factsheets which you can access by clicking on the fund name.
 

RAM (Lux) Systematic Funds
Class MTD YTD 3Y 5Y SI* ESG Integration
& *Activation Date
European Equities I EUR -4.03% 4.18% 30.91% 11.72% 163.79% Art.8
MSCI Europe TR Net -2.52% 8.51% 40.49% 33.64% 147.05% 28.05.2013
Emerging Markets Equities Ip USD -2.05% 2.43% 35.65% 13.39% 67.68% Art.8
MSCI EM TR Net $ -1.68% 1.05% 10.79% -3.28% 20.27% 07.02.2012
Global Sustainable Income Equities Ip USD -3.88% 0.09% 32.80% 10.17% 45.43% Art.8
MSCI World Hdy TR Net $ -4.46% -1.09% 26.48% 28.90% 51.41% 02.05.2014
Stable Climate Global Equities PI USD -3.56% 1.74% 23.61% Art.9
Long/Short European Equities I EUR -1.73% -5.55% 6.27% -6.66% 45.72% Art.8
Long/Short Global Equities PI USD -0.71% -3.30% 14.70% 1.13% 4.80% Art.8
Global Multi-Asset Ip EUR -1.88% -3.20% 3.56% -1.48% -2.26% Art.6
RAM (Lux) Tactical Funds
Class MTD YTD 3Y 5Y SI* ESG Integration
& *Activation Date
Global Bond Total Return B USD -0.54% 2.49% -2.98% 8.43% 62.09% Art.8
Asia Bond Total Return PI USD -0.26% 2.51% -1.60% 5.11% 29.86% Art.6
JP Morgan Asia Credit Index $ -0.82% 2.59% -5.48% 6.78% 32.41% 13.06.2013


Monthly Comments
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Systematic Equities
 
Fixed Income
 
Multi Asset

 


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