MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
Investment overview
A diversified portfolio of equities (target 35%), fixed income (target 45%), currencies, real estate and alternative investments with a structural bias towards CHF denominated assets (target 80%). We seek long-term capital growth through disciplined integration of passive instruments with quarterly rebalancing. We favour liquid instruments for diversification and cost optimisation.
MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
Fund information
Switzerland
FCP
Daily
Daily / Daily
1 Business Day / 2 Business Days
1 Business Day / 4 Business Days
18/10/2024
CHF
CH1350180985
Lemania Pension Fund Mix Index
Banque Pictet & Cie SA
Deloitte S.A.
FundPartner Solutions (Suisse) S.A.
Subscription
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MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
Documents
MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
Performance & risk
MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
- Lemania Pension Fund Mix Index
NAV adjusted in case of distribution
Source: Mirabaud Asset Management. Share class and benchmark performance displayed in CHF. The return of your investment may increase or decrease as a result of currency fluctuations if your investment is made in a currency other than that used in the past performance calculation. The Fund is actively managed. The benchmark is shown for comparison purposes only. Index performance data do not take into account fees and costs. Any entry, exit and other charges, commissions or fees, if applied, are excluded from the calculation. Past performance does not predict future returns.
Performance
Cumulative
Annualized
Risk
Volatility
Correlation
Please note that the frequency of returns used in the above calculations may be different than the one used in the official reporting documents and results may vary accordingly.
Past performance is not indicative or a guarantee of future returns. Performance figures do not take into account subscription and redemption fees that might be levied. The sources of the information displayed are deemed reliable. However, the accuracy or completeness of the information displayed cannot be guaranteed, and some figures are only estimates.
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MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
Monthly commentary
Performance update
Investors were surprised by the drastic US tariff announcement in early April, which caused global markets and the US dollar to plummet. Equity prices subsequently rebounded when the US government announced a 90-day pause, but doubts continued to linger and prolonged negotiations could bolster uncertainty and weaken economic growth. The Federal Reserve remained on standby, while the European Central Bank continued cutting interest rates.
In this environment, sovereign bonds outperformed corporate bonds. The weak USD weighed on the performance of global equities. Equity volatility spiked and sector dispersion was significant: energy stocks lost more than 11%, while utilities and consumer staples gained close to 4%. Swiss real estate funds and alternative assets were also negative, while gold acted as a safe haven.
Portfolio activity
We completed the quarterly rebalancing on the first business day of the month.
Yearly performances
MIRABAUD (CH) - Lemania Pension Fund MIX (LPFX) N Cap. CHF
Portfolio managers
Andreas WAEGER
Portfolio Manager
Andreas Waeger, Senior Portfolio Manager in the Asset Allocation team within Mirabaud Asset Management, takes part in the management of the range of Multi-Assets products. He started his career in the asset management industry in 1997. Prior to joining Mirabaud Asset Management in May 2017, Andreas worked 5 years at Bank J. Safra Sarasin AG as a senior portfolio manager and deputy head of the Institutional Balanced Team. From 2005 to 2012 Andreas was a senior portfolio manager at Swisscanto Asset Management where he was managing balanced funds and segregated mandates. Prior to that, Andreas held portfolio manager positions at Baloise Asset Management as well as ABN Amro Bank and worked at SIX Swiss Exchange within a project management position. Andreas Waeger holds a degree in Business and Economics from the University of Basel. He is a Certified European Financial Analyst.
Daniele MASCIARELLI
Portfolio Manager
Daniele Masciarelli, Portfolio Manager in the Asset Allocation team within Mirabaud Asset Management, has experience in the portfolio management industry since 2011. Prior to joining Mirabaud Asset Management in January 2013, Daniele worked in the portfolio management department of BNP Paribas Switzerland. Daniele Masciarelli is a former researcher at the EPFL and at the Massachusetts Institute of Technology. He is a CFA Charterholder and also holds a master’s degree in micro and nanotechnologies jointly awarded by the Swiss Federal Institute of Technology, the National Polytechnic Institute of Grenoble, and Politecnico of Turin, and a degree in corporate and engineering management.