Products

Longchamp Galileo Equity Income Fund

The goal of the Longchamp Galileo Equity Income Fund (the « Sub-Fund » of the Longchamp Invest Fund) is to seek to deliver an annualized performance net of fees higher than that of EONIA capitalized +1% over the recommended investment period of 5 years minimum, through long and short positions in put options using major world equity market indices as underlying assets.

Longchamp Asset Management (“Longchamp AM”) is an employee-owned asset management company founded in 2013, authorized and regulated by the Autorité des Marchés Financiers (GP-13000009).

The Sub-Fund is now listed on Euronext Fund Service Paris.

Longchamp Galileo Equity Income Fund Strategy Overview

  • Discretionary allocation seeking to build a portfolio comprised of long and short positions in put options using major world equity market indices as underlying assets
  • Selection process based on price levels and on trading signals
  • Seeks to benefit from attractive premiums while maintaining a potential hedge against global market rout

 

Details

OBJECTIVE
  • Deliver an annualized performance net of fees higher than that of EONIA capitalized +1% over the recommended investment period of 5 years
INVESTMENT UNIVERSE
  • Put options in which the indices selected as underlying assets will be those of global equity markets of developed countries, which Longchamp AM believes benefit from significant liquidity (OECD country, Hong-Kong and Singapore) and exhibit an active option market 
INVESTMENT PROCESS
  • Discretionary investment management seeking to take long and short positions in put options

  • Underlying assets and options selection process based on instruments’ price levels and on trading signals

  • Seeks to benefit from attractive premiums while maintaining a potential hedge against global market rout

  • Global risk computed such as the VaR (Value at Risk) will not be higher than 3% of the Sub-Fund’s net assets (based on a confidence level of 99% and a holding period of 1 day)

 

Details

An investment in the Longchamp Galileo Equity Income Fund may expose an investor to the following risks (further detailed in the  Sub-Fund’s prospectus):

  • Risk of capital loss
  • Risk associated with discretionary management
  • Volatility risk
  • Risk associated with the use of derivative instruments
  • Equity Risk
  • Currency risk
  • Interest rate risk
  • Credit risk
  • Counterparty risk
  • Risk associated with efficient management portfolio technique
  • Liquidity risk
  • Risk related to the management of securities lending and repurchase agreements

 

Portfolio Managers

Sebastien Cabrol, Lead Portfolio Manager

Sebastien is Portfolio Manager and Head of Research at Longchamp AM. Sebastien is also lecturer at the Paris-Dauphine University. He has an extensive experience in derivatives markets and cross-assets strategies. Prior to joining Longchamp AM, Sebastien worked as a fund manager and financial engineer at Lyxor Asset Management, Société Générale Corporate & Investment Banking and Deutsche Bank. He was notably in charge of setting-up and managing Lyxor Asset Management’s volatility funds and developed several systematic and discretionary strategies based on derivatives and cross-assets analysis. Sebastien holds a PhD in Economics from Paris-Dauphine University. His PhD focused on the forecasting of economic and financial crises and statistical methods dedicated to global macro and tail-risk analysis.

David Armstrong, President – Managing Director

David is Chief Executive Officer at Longchamp Asset Management, which he founded in 2013. Previously, he was a Managing Director at Morgan Stanley & Co. International Plc, heading the investment bank’s Funds and Fund Linked business globally. In particular, he was in charge of the FundLogic UCITS Platform and served as President of the French asset management company, FundLogic SAS. Prior to joining Morgan Stanley, David had spent fourteen years within the Global Equity and Derivatives Solutions division at Société Générale. After joining the group in Paris, David moved to Milan to head the global capital markets operations including all Equity and Fixed Income activities. He also chaired the Italian alternative asset management company, Lyxor SGR. Thereafter, he moved to New York to head up Structured Products Sales for the Americas. David holds a master’s degree in Business Administration from EDHEC, Lille, France.

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Fund Facts

Legal Structure: Sub-Fund of UCITS Fund

Umbrella Fund: Longchamp Invest

Fund Manager: Longchamp Asset Management SAS

Passporting: Approved in France and Italy

Base Currency: EUR

Other Currency Share Classes:

Liquidity: Daily (every day that is a business day and where stocks markets are open in France)

Dealing Deadline (Subscription): 03:00 pm French time 1 Business Day prior to the relevant Dealing Day

Dealing Deadline (Redemption): 03:00 pm French time 1 Business Day prior to the relevant Dealing Day

Settlement Date (Subscription): Within 3 Business Days after the relevant Dealing Day

Settlement Date (Redemption): Within 3 Business Days after the relevant Dealing Day

Fund Share Class Details

ISIN Code BBG Code Inception Mgmt Fee Perf Fee TER KIID Link
Longchamp Galileo Equity Income Fund (Exposure to a Carry Strategy with a Tail-Hedge Protection)
Seeding (Acc) * A EUR FR0013187937 LOGALIA FP 03.11.2016 0.35% 10% > EONIA Cap + 1% Max 0.60% *** KIID
Early Bird (Acc) B EUR FR0013187945 LOGALIB FP 06.12.2016 0.50% 10% > EONIA Cap + 1% Max 0.75% *** KIID
Institutional (Acc) C EUR FR0013187952 LOGALIC FP Available 0.70% 15% > EONIA Cap + 1% Max 0.95% *** KIID
Institutional (Dis) D EUR FR0013187960 LOGALID FP Available 0.70% 15% > EONIA Cap + 1% Max 0.95% *** KIID

Reference share classes used to report NAVs, Daily, MTD, YTD and LTD performances. 

** Includes a maximum of 0.20% p.a. administration fees covering for service providers (custodian, administrator, audit, KIIDs, etc)

*** Includes a maximum of 0.25% p.a. external operating fees (auditor, custodian, distribution, and lawyers)

Source:

CM CIC for the Longchamp Absolute Return Fund
SGSS for the Longchamp Treasury Fund and Longchamp Galileo Equity Income Fund

The above figures refer to the past. Past performance are net of fees and are not a reliable indicator of future results.

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