Aperture Credit Opportunities
- Key Features
- Long/Short Credit strategy with the objective of generating a return on SOFR +2% p.a. while maintaining low correlation with the credit market.
- The strategy is implemented through cash bonds, CDS, indices and other credit derivatives.
- Average portfolio rating around BB, average duration between 3 and 5 years. Net exposure (risk adjusted) between -33% and 50%.
- Global approach, with exposure to US and Europe at around 80%.
- Simon Thorp, co-portfolio manager, has 16+ year track record running similar strategies through numerous credit cycles. Former portfolio manager of Avoca Capital and former head of L/S Credit strategies at KKR.
- Following the Aperture Investors philosophy, the fees structure aligns the interests of portfolio managers with those of investors.
- Performance of the sub-fund
As of 31 October, 2020 | MTD | YTD | 1y | 3ys | 5ys | SI (5 Aug., 2019) |
|---|---|---|---|---|---|---|
Sub-fund (USD I Acc.) | 0.17% | 4.33% | 5.10% | n/a | n/a | 5.71% |
Benchmark | 0.17% | 2.03% | 2.64% | – | – | 3.65% |
Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. No express or implied liability or guarantee is assumed that the future performance will correspond to the performance described above. The value of and income from fund units or sub-fund units (“Units”) may fluctuate, rise or fall, so you may have a gain or a loss when the Units are sold. The performance of and income from the Units have to be reduced by costs and taxes. Current performance may be higher or lower than the quoted and no guarantee can be assumed that the investment objectives of the fund/sub-fund will be achieved.
Fund Facts | |
|---|---|
Management Company and Investments Manager | The management company is Generali Investments Luxembourg S.A. who appointed Aperture Investors as investment manager. |
Structure | UCITS |
Domicile | Luxembourg |
AuM | $587 M (as of end of October 2020) |
Inception date | August 5th, 2019 |
Liquidity | Daily |
Fund Currency | USD |
ISIN (I USD Acc.) | LU1958553072 |
ISIN (I Eur Hedged Acc.) | LU1958553239 |
Benchmark | Secured Overnight Financing Rate (SOFR) +2% |
Management fees | 0.39% |
Performance fees | 30% > benchmark |
- Documentation
- Awards
Alt Credit European Performance Awards 2020
Aperture is part of Generali Investments’ multi-boutique platform.
Aperture Investors, based in New York, is a global asset manager founded in 2018 by a partnership between Generali Group and Mr Peter Kraus, former Chairman and CEO of AllianceBernstein. Aperture operates with an unconstrained investment approach and a unique fee model that aligns the company’s profitability with that of its clients. The company charges low, ETF-like fees when performance is at or below stated benchmarks. When and only when returns are generated in excess of a strategy’s benchmark, Aperture Investors charges a performance-linked fee, and as such, investment teams are compensated primarily on outperformance.
*Source: Pageant Media Holdings Ltd., October 2020.
The Alt Credit European Performance Awards 2020 recognise and celebrate credit hedge funds, CLO and private debt funds that are outperforming their peers and leading the way in the European credit sector. The award were rigorously judged with the expert judging panel including leading institutional and private investors and investment consultants – carefully selected for their wealth of expertise. The winning funds all demonstrated exceptional growth and high Sharpe ratio. More information on the methodology can be found here: https://www.hfmconnect.global/
