Long positions gave the QAM Asian Equities Fund a 4.18% lift in January, while shorts took back a little, leaving a net gain of 3.60% for the month. A third of the fund was allocated to automobiles, auto parts and banks. Japan, South Korea and Hong Kong account for 75% of the fund’s portfolio.
The quant model enables the fund to adapt to market trends, resulting in different factor weightings each month, explains QAM’s Frank Holle. In January, the fund was weighted 61.7% in earnings momentum factors and 38.3% in valuation factors.
Net exposure is mainly driven by