Hedge Funds Multi-Manager - Global Alternative Smart Alpha (in-house strategy/product)
Global Alternative Smart Alpha is a multi-manager hedge fund program that provides a carefully curated blend of investment managers and strategies, offering protection against market downturns and financial stress.
This broadly diversified hedge fund program focuses on Global Macro, Market Neutral Equity, Equity Long/Short, Trading, CTA, and Multi-Strategies, ensuring an uncorrelated set of opportunities for investors. Whether integrated into a traditional portfolio for risk diversification or as a standalone investment, it grants access to various financial markets.
Since its launch in 2018 the program has delivierd an attractive annualized return number with low volatiliy combinded with a double-digit long-term alpha versus equiteis.
Global Alternative Smart Alpha is a multi-manager hedge fund program that provides a carefully curated blend of investment managers and strategies, offering protection against market downturns and financial stress.
This broadly diversified hedge fund program focuses on Global Macro, Market Neutral Equity, Equity Long/Short, Trading, CTA, and Multi-Strategies, ensuring an uncorrelated set of opportunities for investors. Whether integrated into a traditional portfolio for risk diversification or as a standalone investment, it grants access to various financial markets.
Since its launch in 2018 the program has delivierd an attractive annualized return number with low volatiliy combinded with a double-digit long-term alpha versus equiteis.
The data covers the period from January 1, 2018 to February 28, 2026. Since 01.09.2023, the portfolio reflects a real investor portfolio and therefore the performance since then reflects the real performance net of fees. Past performance is not indicative of future results.
Monthly Commentary February 2026
Global equities posted another positive month in February, despite weakness in mega-cap stocks, which dragged the Nasdaq down 2.5%. Emerging markets stole the spotlight, led by Korea, which finished the month up 21%. Global bond yields fell once again, led by Japanese yields, after Prime Minister Takaichi signaled a more cautious approach to fiscal expansion. This prompted a broad rally across developed markets, with yield curves ending the month notably flatter.
In FX markets, the U.S. dollar ended its losing streak, with the Dollar Index up 0.7% for the month. The greenback strengthened against the euro and Japanese yen but lost ground versus commodity-linked currencies such as the Australian dollar. Commodities continued their strong performance: gold gained 8%, while oil rose 2.5%, supported by escalating tensions in the Middle East.
Global equities posted another positive month in February, despite weakness in mega-cap stocks, which dragged the Nasdaq down 2.5%. Emerging markets stole the spotlight, led by Korea, which finished the month up 21%. Global bond yields fell once again, led by Japanese yields, after Prime Minister Takaichi signaled a more cautious approach to fiscal expansion. This prompted a broad rally across developed markets, with yield curves ending the month notably flatter.
In FX markets, the U.S. dollar ended its losing streak, with the Dollar Index up 0.7% for the month. The greenback strengthened against the euro and Japanese yen but lost ground versus commodity-linked currencies such as the Australian dollar. Commodities continued their strong performance: gold gained 8%, while oil rose 2.5%, supported by escalating tensions in the Middle East.
Third-Party Investment Options
Liquid Alternatives Single Manager - LeanVal Equity Protect (Third-Party)
The Equity Protect strategy aims to achieve a significantly improved risk-adjusted return with considerably lower drawdowns compared to a pure equity investment.
The investment solution combines 100% European stock selection with systematic hedging of the equity portfolio. The hedged level is 90% of the price level and is guaranteed on a rolling monthly basis through the purchase of put options. In addition, the Athena overlay is implemented to finance the hedging.
The income from market fluctuations is an independent source of income that finances the costs of equity hedging. By matching income and costs, the long-term negative effects of high hedging costs can be mitigated. Overall, the investment concept benefits from significantly lower drawdowns and a corresponding outperformance compared to a classically hedged equity investment, without being too heavily burdened by hedging costs in phases of a stronger market correction.
Liquid Alternatives Single Manager - LeanVal US 500 Athena Enhanced (Third-Party)
The investment solution combines a 100% passive S&P 500 base portfolio with the Athena Market Neutral strategy as an overlay, thereby aiming for consistent outperformance against the S&P 500.
The Athena Market Neutral Overlay uses market volatility as a source of returns and generates uncorrelated additional returns. The long-term volatility compared to a pure S&P 500 investment is not increased due to the correlation between the underlying investment and the overlay.
In the long term, a significant outperformance is achieved with comparable risk, particularly in phases of increased market volatility. Compared to other active equity strategies, the use of market volatility to generate an active return is a unique selling point.
Liquid Alternatives Single Manager - LeanVal US 500 Athena Enhanced (Third-Party)
The investment solution combines a 100% passive S&P 500 base portfolio with the Athena Market Neutral strategy as an overlay, thereby aiming for consistent outperformance against the S&P 500.
The Athena Market Neutral Overlay uses market volatility as a source of returns and generates uncorrelated additional returns. The long-term volatility compared to a pure S&P 500 investment is not increased due to the correlation between the underlying investment and the overlay.
In the long term, a significant outperformance is achieved with comparable risk, particularly in phases of increased market volatility. Compared to other active equity strategies, the use of market volatility to generate an active return is a unique selling point.
Real Assets - Infrastructure - Épopée Infra Climate I Fund (Third Party)
An infrastructure fund in the French Atlantic arc region is making significant progress in decarbonizing maritime, energy, and mobility sectors. This Article 9 SFDR fund offers a balanced combination of high-return and moderate-return technologies, ensuring both reliable cashflows and long-term contracts. The fund operates in a growing market driven by the urgency of transitioning to sustainable solutions.
An infrastructure fund in the French Atlantic arc region is making significant progress in decarbonizing maritime, energy, and mobility sectors. This Article 9 SFDR fund offers a balanced combination of high-return and moderate-return technologies, ensuring both reliable cashflows and long-term contracts. The fund operates in a growing market driven by the urgency of transitioning to sustainable solutions.