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Performance

Driven by performance and not asset gathering

Name ISIN Start Valuation Month YTD Return Price Factsheet (T-1) KIID
PAM Alpha Strategy N/A 31.12.2003 OD N/A
PAM Alpha Class I CHF LI0222705530 23.05.2017 31.07.2020 0,04 -4,23 -22,95 77,05 PAM Alpha Fund I CHF PAM Alpha Fund I CHF - KIID
PAM Alpha Class I EUR LI0222705472 24.09.2013 31.07.2020 0,10 -3,67 -4,57 95,43 PAM Alpha Fund I EUR PAM Alpha Fund I EUR - KIID
PAM Alpha Class I USD LI0222705563 28.10.2013 31.07.2020 0,12 -2,86 4,11 104,11 PAM Alpha Fund I USD PAM Alpha Fund I USD - KIID
PAM Alpha Class R CHF LI0222705605 24.09.2013 31.07.2020 -0,01 -4,25 -11,29 88,71 PAM Alpha Fund R CHF PAM Alpha Fund R CHF - KIID
PAM Alpha Class R EUR LI0222705589 24.09.2013 31.07.2020 0,05 -3,95 -7,46 92,54 PAM Alpha Fund R EUR PAM Alpha Fund R EUR - KIID
PAM Alpha Class R USD LI0222705639 24.09.2013 31.07.2020 0,02 -3,34 0,05 100,05 PAM Alpha Fund R USD PAM Alpha Fund R USD - KIID
PAM Alpha Class DI EUR LI0244763897 20.01.2015 31.07.2020 -0,18 -5,08 -14,54 85,46 PAM Alpha Fund DI EUR PAM Alpha Fund DI EUR - KIID
Name PAM Alpha Strategy
ISIN N/A
Start 31.12.2003
Valuation
Month
YTD
Return
Price
Factsheet (T-1) OD
KIID N/A
Name PAM Alpha Class I CHF
ISIN LI0222705530
Start 23.05.2017
Valuation 31.07.2020
Month 0,04
YTD -4,23
Return -22,95
Price 77,05
Factsheet (T-1) PAM Alpha Fund I CHF
KIID PAM Alpha Fund I CHF - KIID
Name PAM Alpha Class I EUR
ISIN LI0222705472
Start 24.09.2013
Valuation 31.07.2020
Month 0,10
YTD -3,67
Return -4,57
Price 95,43
Factsheet (T-1) PAM Alpha Fund I EUR
KIID PAM Alpha Fund I EUR - KIID
Name PAM Alpha Class I USD
ISIN LI0222705563
Start 28.10.2013
Valuation 31.07.2020
Month 0,12
YTD -2,86
Return 4,11
Price 104,11
Factsheet (T-1) PAM Alpha Fund I USD
KIID PAM Alpha Fund I USD - KIID
Name PAM Alpha Class R CHF
ISIN LI0222705605
Start 24.09.2013
Valuation 31.07.2020
Month -0,01
YTD -4,25
Return -11,29
Price 88,71
Factsheet (T-1) PAM Alpha Fund R CHF
KIID PAM Alpha Fund R CHF - KIID
Name PAM Alpha Class R EUR
ISIN LI0222705589
Start 24.09.2013
Valuation 31.07.2020
Month 0,05
YTD -3,95
Return -7,46
Price 92,54
Factsheet (T-1) PAM Alpha Fund R EUR
KIID PAM Alpha Fund R EUR - KIID
Name PAM Alpha Class R USD
ISIN LI0222705639
Start 24.09.2013
Valuation 31.07.2020
Month 0,02
YTD -3,34
Return 0,05
Price 100,05
Factsheet (T-1) PAM Alpha Fund R USD
KIID PAM Alpha Fund R USD - KIID
Name PAM Alpha Class DI EUR
ISIN LI0244763897
Start 20.01.2015
Valuation 31.07.2020
Month -0,18
YTD -5,08
Return -14,54
Price 85,46
Factsheet (T-1) PAM Alpha Fund DI EUR
KIID PAM Alpha Fund DI EUR - KIID

Strategy Comment 12/2017

The PAM Alpha Fund Strategy (L/S) is now in its 15th year of trading with annualized returns after fees of +11.22% and a Sharpe ratio of +0.77 (RF=0). The Long-Short approach earned -0.05% net in December 2017, bringing us to +4.64 net YTD for calendar year 2017.

2017 was a very strong year for the S&P 500.  In addition to that, it was very consistently up also on a monthly basis. VIX levels remained extremely low for much of the year.

 

 

Our PAM Alpha Program (Long/Short) was able to perform positively during this time with our PAM Long Only Program (Long/Flat) outperforming our flagship S&P Contrarian Program.

Our results were fairly predictable throughout the year and let us achieve new equity highs steadily throughout the year without any material drawdowns.

Due to the long and consistently positive price movements most months, our short trading overall suffered somewhat while our long signals were successful.

That is the reason why the PAM Long Only Strategy outperformed the PAM Alpha Strategy.

Looking ahead to 2018, we believe that VIX/Volatility of the market will increase and the S&P market will exhibit more zig zag price action which should be more favorable for both of our strategies.