3.2.2021 Alpine Select Ltd.: Monthly Update January 2021
Alpine Select has published the monthly update January 2021.
Klick here to download the monthly report.
Alpine Select hat den Monatsbericht Januar 2021 publiziert (nur in Englisch).
Klicken Sie hier um den Bericht einzusehen.
The first month of the year ended in volatile hysteria due to an orchestrated retail group short squeeze on very particular stocks. The rumour has it that some well-known Hedge Fund Titans with market neutral equity strategies incurred significant losses.
S&P 500 Index was down -1.2%; Nasdaq and Nikkei were up +1.4% and +0.8%, respectively. The Chinese Index CSI outperformed with+2.7%.
Our allocations to L/S equity strategies have resulted in a net positive contribution for the first month of 2021. None of our funds have been exposed to heavily shorted stocks which reassured our selection of modern-minded and risk-principled investment managers to not seek over-crowded names.
An appreciative contribution to the monthly performance delivered our Chinese L/S equity Managers. LyGH China delivered +6.5% and FengHe Asia Fund increased by +6.2%, outperforming the CSI Index.
Our regional allocation to China currently stands at 12.6% and we are committed to keep or even increase our regional China exposure. We acknowledge an early-stage bipolar world with the US and China being the two heavyweights. Consequently, Chinese assets have matured in our view, and we seek to participate in this promising market with allocations to like-minded asset managers.
We access the Chinese Market mainly with 3 fund positions. The above-mentioned outperformers LyGH China and FengHe Asia Fund, both applying a bottom-up driven stock picking approach based on deep on-the-ground proprietary research. We trust the leading managers and feel comfortable with their principled risk management approach. Our third position is with Northwest Feilong Fund, an expert investment management team dedicated to capture inefficiencies in the Chinese Convertible Bond («CB») market. This strategy offers the portfolio an intelligent, liquid, and alternative access of gaining outright exposure to the Chinese mainland A-share market. CBs are significant to finance the growing Chinese corporate economy.
About Alpine Select
Alpine Select Ltd is an investment company domiciled in Zug and has been listed on the SIX Swiss Exchange since 1998. The company offers shareholders the key benefit of investing into a global diversified and CHF hedged alternative investment portfolio. The portfolio exposure is actively being risk adjusted to current market sentiment and outlook. The investment style is value oriented and the investments are selected based on the company’s target return of 6-8% p.a. above CHF risk free rate. Alpine Select maintains an active and constructive dialogue with management and board of directors of its portfolio companies in the best interest of its shareholders. Alpine Select does not charge any management or performance fees.