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French boutique launches equity market neutral fund

French boutique launches equity market neutral fund

Paris-based boutique Seeyond has launched its first equity market neutral fund, Citywire Selector has learned.

The €16 billion quantitative unit of Natixis Global Asset Management officially launched the Seeyond Europe Market Neutral fund on June 28 to little fanfare.

The Luxembourg-domiciled Ucits fund was launched with around €10 million of internal seeding and will be managed by the firm’s head of smart beta investments, Citywire + rated Nicolas Just, and equity portfolio manager, Juan Caicedo.

Just currently manages the Seeyond Europe MinVariance and Seeyond Global MinVariance fund at the firm, alongside the Natixis LCR Actions fund, which is a eurozone-focused strategy.

Caicedo currently manages the Natixis Strategie Min Variance Europe fund, which invests at least 90% of its assets in European equity securities.

Speaking to Citywire Selector, the team said they had been operating low volatility equity funds for over seven years now and the strategy's process will be similar to the those used in their other funds.

The fund aims to generate returns regardless of market conditions, with an average annualised volatility of around 4%.

Commenting on the launch, Seeyond’s head of investment specialists, Christiaan Kraan told Citywire Selector the launch was driven by client demand.

‘Our clients have shown an interest in segregating out the risk adjusted performance that we have created over time by removing the market effect.

‘The fund will give investors the possibility to have exposure to low volatility equity investing, without carrying the full market exposure by hedging away the beta.’

The fund is still in an incubation stage and the firm is not actively promoting the strategy until it has a six-month track record.

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