(Update) Mandarine Gestion has reworked its multi-strategy fund into a multi-asset vehicle more prominently focused on European equities, Citywire Selector has learned.
The French asset manager opted to transform the Mandarine Multistrategies fund into the Mandarine Multi-Assets fund on February 19.
The move was taken to expand its remit to mainly invest in European equities, all interest rate and currency markets, as well as the option to invest in wider global stock markets.
The volatility profile of the fund has also changed as a result of the restructuring.
The fund is now taken over by the portfolio management team as a whole, which unites the strongest convictions of each of all Mandarine Gestion’s European equity managers.
On a three-year basis the fund, which was formerly the Mandarine Multistrategies fund, as it was known, returned 6.2%.
The average manager in the Alt Ucits – Multi-Strategy sector, its new sector, returned 2.2% over the same timeframe.
This article was amended on March 13 after it incorrectly stated the fund had been turned into the Mandarine Multistrategies fund rather than the Mandarine Multi-Assets fund.