Investment Objective
Taking advantage of the VALMO strategy in the global markets without having any exposure to the markets.
Investment Strategy
This fund invests in a series of monthly Global equity baskets representing stocks that have exhibited strong price momentum characteristics for different periods in the past 12 months and in a series of value stocks. It simultaneously assumes short positions in the market or in a selection of stocks identified by the model as most likely to underperform. The model has the choice of maintaining a comparative country selection or can use the Landry top-down country allocation model to over-weight or under-weight certain regions. The portfolio model uses a number of screens and formula to “smooth” the various return characteristics of the individual stocks in various countries. The selection then is subject to a fundamental and technical review by the portfolio managers before final selections are made.
| Portfolio Structure | ||
| Benchmark: None | ||
| Style: Market neutral long short equity | ||
| Maximum gross exposure: 200% of invested capital | ||
| Momentum | Value | |
| VALMO Composition: | 40%-60% | 40%-60% |
| Selection universe: | ||
| United States | S&P 500, Nasdaq 100 | S&P 500 |
| Europe | DAX, ATX, etc. | S&P Europe 350 |
| Japan | Nikkei 225 | Nikkei 225 |
| Canada | S&P/TSX Composite | S&P/TSX Composite |
| Others | S&P/ASX 100, etc. | |
| Number of stocks in portfolio | 40-80 stocks | 50-90 stocks |
| Revision period | Monthly | Monthly |
| Maximum regeneration period | 3 months | 6 months |
| Turnover | 2-4 times a year | Around once a year |
| Maximum by sector | None | None |
| Maximum by stock | 5% | 5% |
| Seasonal adjustment | Yes | No |
Disclaimer
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Offering Memorandum before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.