Absolute Return

Many investors set a goal every year of achieving a positive return from their investment assets. That sounds unexceptional, but it has become quite a challenge in a negative interest rate world. Government bonds used to offer a reliable stream of interest income, but today a huge amount of government debt in advanced economies is trading on a negative yield. Now it seems that a positive return can only be achieved by investing in stocks.

An alternative solution that meets the needs of conservative investors are absolute return strategies within a UCITS fund.

The BB Global Macro Fund is one such fund. It is not constrained by any benchmark, which gives its managers utmost flexibility in the current market environment. Currently the fund’s portfolio consists of 25% equities and 75% bonds. The fund managers can invest in the most promising stock and bond markets and can also open short positions in a particular market if and when appropriate. BB Global Macro thus offers a neutral multi-asset portfolio with a predominantly conservative bias but with much more stability. In today’s environment of ultra low interest rates, leverage can be used to a limited extent, typically within a range of 20-50% of portfolio assets, at low cost to generate an additional return of 1% to 2% a year.

Our Expertise

The portfolio managers have considerable bond and stock market experience and are supported by a team of investment specialists for every asset class.

Team Absolute Return

Lucio Soso
Lucio Soso, Lead Portfolio Manager
  • Since 2010 with Bellevue Asset Management as senior portfolio manager
  • 2004 - 2010 Risk manager and global macro portfolio manager, RBR Capital AG
  • 1998 - 2004 Consultant in risk management, research database and portfolio management systems, Orwellsys SA
  • 1995 - 1998 Director of financial research, All Asia Capital
  • 1992 - 1995 Institutional portfolio manager, Pictet et Cie
  • Master’s degree in Finance (London Business School), Nuclear Physics (Tokyo Institute of Technology) and Electrical Engineering (ETH Zurich)
Alexandrine Jaecklin
Alexandrine Jaecklin, Portfolio Manager
  • Since 2015 with Bellevue Asset Management as Senior Portfolio Manager in charge of the bond selection
  • 2011-2015 investment specialist for Ultra High Net Worth clients with focus on bond markets at UBS Wealth Management, Zürich
  • 2008-2011 Active Portfolio Advisory with focus on bond markets at UBS Wealth Management, Zürich
  • 2003-2007 Research analyst covering European Financial Credits at UBS Wealth Management, Zürich
  • 1997-2003 Financial and Credit analyst in New York and London
  • Master in International Relations, Economic Section, from Graduate Institute of International Studies (HEI), Geneva
Markus Peter
Markus Peter, Head Investment & Products
  • Since 2009 with Bellevue Asset Management as head investments and products
  • 2000 - 2009 Julius Baer Asset Management in various functions including head product management & development, investment advisory as well as a product specialist
  • 1995 - 2000 IBM, treasury and specialty financing
  • 1990 - 1995 Swiss Bank Union, equity and equity derivative trading
  • Master’s degree in Business Economics, University of St. Gallen (HSG)
Alexis Dawance
Alexis Dawance, Portfolio Manager
  • Since 2020 at Bellevue Asset Management as senior portfolio manager of the BB Global Macro fund with focus on the equity strategy
  • 2014 – 2019 Head of Equities and portfolio manager of a global thematic equity long/short fund at MFM Mirande Fund Management
  • 2006 – 2014 Founding partner and portfolio manager of a global thematic equity fund at Global-Cap AG
  • 2000 – 2006 Director US Equtiy Sales at Lehman Brothers in London and Zurich
  • Management and finance degree, HEC Lausanne
  • Lucio Soso
  • Alexandrine Jaecklin
  • Markus Peter
  • Alexis Dawance

Our investment solutions

The BB Global Macro Fund is a UCITS investment solution that offers daily liquidity and combines the advantages of the traditional world with the positive aspects of the alternative world.

Product Date ISIN NO. NAV YTD 1YR 3YR Factsheet

BB Global Macro (Lux)

> I-EUR 28.05.2020 LU0494762056 174.50 -3.99% -1.49% 1.68%
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> AB-EUR 28.05.2020 LU1325892591 118.61 -4.22% -1.95% 0.28%
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> AI-EUR 28.05.2020 LU1525644909 121.92 -3.99% -1.51% 1.59%
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> B-EUR 28.05.2020 LU0494761835 165.20 -4.22% -1.95% 0.14%
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> HB-USD 28.05.2020 LU1233584223 145.38 -3.35% 0.39% 7.16%
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> HB-CHF 28.05.2020 LU0513479864 157.05 -4.36% -2.33% -1.13%
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> HI-USD 28.05.2020 LU1233583258 148.31 -3.10% 1.12% 9.59%
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> HI-CHF 28.05.2020 LU0513479948 166.84 -4.12% -1.73% 0.52%
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> HI-GBP 28.05.2020 LU0767971616 179.10 -4.00% -1.21% 3.60%
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> I2-EUR 28.05.2020 LU1725388430 125.72 -3.94% -1.31% n.a.
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News

Markets & Opinions / 07.05.2020

Recording of the update call with Portfolio Manager Lucio Soso on May 7.

Markets & Opinions / 19.03.2020

Update Call with Lucio Soso and Markus Peter on the latest development of the BB Global Macro fund.

Corporate News / 09.01.2020

Media release of January 9, 2020.

Markets & Opinions / 11.11.2019

Market commentary on attractive investment opportunities from the team of BB Global Macro fund.

Markets & Opinions / 23.07.2019

Recording of the Call with Markus Peter and Lucio Soso on July 23.

 

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