August 2011 was a tough month for the alternative UCITS
industry with the majority of funds reporting negative
But the BayernInvest Bond Global Select Fund, which was down
more than 9% that tumultuous month, still ended the year 2.5%
up. The strategy, which has total assets under management of
$829 million, is one of the oldest alternative UCITS funds and
has so far managed to produce an absolute return every year
since inception in 2005.
The investment management for the German-domiciled fund is
done by Quaesta Capital and BayernInvest is the so-called KAG,
or Kapitalanlagegesellschaft, which provides the function of an
Christian von Strachwitz, chief executive for
Frankfurt-based Quaesta, says the firm tries to put the fund in
a contrarian position.
He says: "Our perception at the end of July and beginning of
August was that were there were increased worries about the
eurozone debt crisis and...