Winton Alma Diversified Macro Fund I1C-U
Executive Summary
WINTON ALMA DIVERSIFIED MACRO (the "Fund") (I1C-U) is an open-ended UCITS compliant fund with Winton Capital Management Ltd ("Winton") acting as Portfolio Manager. The Investment Strategy is a systematic strategy based on the Winton Diversified Macro Strategy as adapted to comply with UCITS. The underlying investment philosophy is grounded in the belief that the scientific method can be profitably applied to the field of investing. The Investment Strategy is a computer-based trading system owned and operated by Winton which is designed to speculatively trade global exchange-traded futures, forwards and options markets on commodities (e.g. energies, base and precious metals and crops), equity indices, bonds, short-term interest rates and currencies. The Fund invests directly in (1) financial futures (including bonds, FX, equity, interest rates), FX forwards and other OTC derivatives (the "Direct Investments"), (2) transferable securities providing exposure to a basket of commodity futures (the "Commodity Basket"), and (3) sovereign bonds, cash or other cash equivalent securities for cash management purposes. Winton has been appointed as Portfolio Manager of the Fund and is responsible for managing the Direct Investments. Winton is also responsible for determining the composition of the Commodity Basket that is referenced by the transferable securities purchased by the Fund. State Street Global Advisors, as the Investment Manager of the Fund, is responsible for the allocation of cash to support the margin and settlement obligations in relation to the Direct Investments as well as the buying and selling of the transferable securities and for managing the surplus cash.
*Incentive Fee:18% of the amount, negative or positive, that the Gross Asset Value (net asset value (NAV) before deduction of performance fee) of the Share Class exceeds the higher of i) the previous day's NAV and ii) the High Water Mark (HWM), accrued daily and paid annually. HWM for any day is NAV at the end of the last annual performance fee period where the NAV was higher than HWM, increased by the cumulative daily hurdle adjustments (based on the 3-month LIBOR rate of the Share Class Currency). In the last financial year 0.53% of daily average value of the share class was charged as performance fee. The amount charged previously was calculated under a different methodology which no longer applies.
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Disclaimer Info
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.
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