Alt Ucits aces: top rated performers revealed

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It was one year ago in January 2012 when Citywire launched its Alternative Ucits ratings. Looking back over the past 12 months, we highlight the top managers who have consistently maintained a rating during this period.

The analysis is based on the euro share class and is awarded for strong risk-adjusted performance over a rolling three-year period, low maximum drawdown and ability to beat cash +2%.

Ben Fox: Goodhart Partners Horizon Target

Topping the charts is Goodhart partner’s Ben Fox, who has been Alt Ucits AAA-rated in the Fund of Funds sector since our alternative ratings began. He manages the Goodhart Partners Horizon Target fund, which returned 28.5% since launch in April 2007 and has €449 million of assets under management. Fox tends to invest in bond funds and looks to generate alpha in any market.

Over the past three years to end of December 2012 Fox has managed to achieve these objectives with lower drawdown (-2.0%) and standard deviation (2.6%) than his peers. The average manager in the fund of funds sector has had a maximum drawdown of -5.1% and 2.5% standard deviation.

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Colm McDonagh: Insight – Absolute Emerging Market Debt

Colm McDonagh, manager of the Insight – Absolute Emerging Market Debt fund, is another consistent performer and is now Alt Ucits AA-rated. He manages a credit strategy fund and invests in debt, interest rate and exchange rate instruments offered by emerging markets.

He aims for capital growth with low correlation and low volatility to other markets and generated a return of 43.6% since launch in May 2008.

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Emeric Challier: AFIM OFP 400

Another credit strategies manager, Emeric Challier, has been consistently Alt Ucits A-rated for his performing on the Avenir Finance's AFIM OFP 400 fund. The fund has returned 23.5% since launch in March 2009 and has €191 million under management.

Challier’s strategy is based on the quantitative analysis of the international market that will present the most favourable return/risk ratio. The fund is mostly invested in bonds and other debt securities denominated in all currencies from OECD markets and emerging countries.

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Charles-Henri Neme: Exane Ceres

In the long/short equity sector three managers have been rewarded for their steady outperformance and all of them are focused on European equity market.

Topping this list is Exane’s Charles-Henri Neme, Alt Ucits AA-rated for managing the Exane Ceres fund. He returned 45% since launch with a maximum drawdown of -1.1% and standard deviation of 1.8%, lower than the average manager in the long/short equity sector. They had a maximum drawdown of (-6.2%) and standard deviation of 4.4%.

The fund focuses its investments on consumption, distribution, media and business support services sectors of European equities.

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Paul Casson: Henderson HF Pan European Alpha

The next Long/Short equity manager Paul Casson is A rated for managing the Henderson HF Pan European Alpha fund. The fund returned 45% since July 2008 when Casson took over.

Also it invests two-thirds of its assets in equity and related instruments of companies that are domiciled in Europe or derive the majority of their revenue from business activities in this region. The top three sectors in the fund’s portfolio are Consumer Discretionary at 9.1%, Financials at 7.5% and Industrials at 6.3%.

Paul Casson recently stepped down as the lead manager of the fund which has now been taken over by John Bennett who will work alongside with Leopold Arminjon.

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Hughes Beuzelin: BDL Rempart Europe

Last but not the least is BDL Capital Management’s Alt Ucits A-rated manager Hughes Beuzelin. He manages the BDL Rempart Europe fund, which returned 30.4% since inception and 11.14% in the past five years.

Beuzelin looks to invest in companies that can sustain a high return on equity and generate substantial cash flows to be paid out to shareholders.

He has €157 million under management and achieved his objective with lower drawdown (-5.2%) and greater standard deviation of (5.5%) when compared to the average manager in the Long/Short Equity sector.

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More Alt Ucits coverage from Citywire

You can view all rated managers by following this link.

To analyse fund manager rankings in our 13 sectors, you can go to our Alternative Ucits homepage.