Apolis Global Macro 1

To achieve a net absolute average annual return of 5% with an average annual volatility of 7%.
Recommended holding period: 5 years.

We focus on fixed income securities using directional positions. We analyse the relationship between the expected returns and the relevant historical volatility of the basic asset classes. Based on the restriction of the average volatility at 7%, the alternative investment combinations are evaluated and the optimal ones are chosen (with or without leverage). The selection of the individual securities is carried out on a bottom-up basis.

Bonds, stocks, derivatives, ETFs investing in G7 countries and other European markets, Eurobonds issued by emerging market governments and companies and, in exceptional circumstances, local currency-denominated bonds.

Target average volatility of 7%, broad diversification across multiple asset classes and sectors, maximum exposure to -other than the Euro- major trading currencies.