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The entire content of this website is subject to copyright with all rights reserved to iMGP and the Fund. You may download or print out a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the website without the prior written permission of iMGP.

By clicking on the « Accept » button, you expressly acknowledge that you have read the aforementioned and that you are authorized by the applicable law to access this website.

YOUR USE OF THIS WEBSITE REQUIRES FULL ACCEPTANCE WITHOUT RESERVATION ON YOUR PART OF THE CONDITIONS OUTLINED BELOW. IF YOU DO NOT ACCEPT THESE CONDITIONS, DO NOT ACCESS THE WEB SITE OR ANY OF ITS PAGES.

Important Information

The content of this website is intended to Professional Investors. If you are a Private Investor, you should ensure to select the correct investor category when you enter this site, as failure to do so may result in you accessing material about investment funds and investment services which may not be suitable for you and/or may not be available for you to invest in.

Limited access

The information provided herein is also intended for Users in territories where it is permissible for Users to access information. This website may indeed contain information about funds established in different jurisdictions and/or investment services offered too. Please consult the specific sections and material to obtain more information. Users are responsible for ascertaining they are legally authorized to consult the information herein and should therefore ensure the investor category chosen to enter this website is correct.

Use of Cookies

Cookies help us collect data about you and how you use our website. For example, we are interested in knowing which internet browser is used, how long you visited the website and which pages you looked at. Information gathered are used to understand how we can improve the design and functionality of our website to better serve you in future. However, if you wish to restrict the cookies set by us or by any third-party sites, you may generally disable cookies in your internet browser. Your browser help function should let you know how to do this. Please keep in mind that restricting cookies may impact your experience and the functionality on this website.

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The data and information featured on this web site are provided free of charge and solely for information purposes. The information contained herein constitutes neither an offer to purchase nor a solicitation to sell and may not be construed as an investment recommendation on the part of iM Global Partner Asset Management or other entities of the group iM Global Partner, its affiliates, managers, officers, or employees (hereafter « iMGP ») and has no legal or contractual value. Furthermore, any reference to a specific security in any published material is included by way of illustrative example and should not be construed as a recommendation to purchase, hold or sell such a security nor does it in any manner constitute the provision of investment advice in relation to same. The iMGP Sicav ( hereafter « iMGP » or « iMGP Funds » or « Fund ») has not taken any measures to adapt to each individual investor who remains responsible for his own independent decisions. Any investment in the funds presented on the web site must be made in conformity with the related legal documentation in force (prospectus, Key Investor Information Documents), as approved, where applicable, by the regulatory authority in your country. iMGP Funds is an open-ended umbrella investment company established and regulated in Luxembourg. The iMGP Sicav is not open to citizens or residents of the USA or to any other party deemed to be a US person. iMGP Funds’ current Prospectus and Key Investor Information Document, by –laws and the Annual and Half Yearly Reports of the Fund can be obtained on this website or from the iMGP offices at 5, Allée Scheffer, L-2520 Luxembourg or from the Agents and Representatives listed on this website for the specific jurisdictions where iMGP Funds are registered and this marketing document is intended for use only in those specific jurisdictions. Investors are advised that they should consult the Prospectus before seeking to subscribe. Moreover, investors are also advised to consult their legal, financial or tax advisors before taking any investment decisions.

Investors are reminded that past performance is not an indicator of future returns, nor does it guarantee future profits, and that they risk, in some cases, losing all or part of the amount initially invested. An investment may increase or decrease by virtue, in particular, of market fluctuations and exchange rate variations in the currency in which the Sub-fund is invested where this differs from the currency of the shareholder.

Disclosure in respect of iM Global Partner Asset Management

Any reference to iM Global Partner Asset Management (« iMGP AM ») or iM Global Partner (« iMGP ») in the material published on this website should be construed as being a reference to one or more of the legal entities, listed below, dependent on the particular jurisdiction in which it is being accessed.

iMGP AM is the Luxembourg management company of iMGP Funds

iMGP is a French regulated entity which represents and distributes iMGP Funds that have been registered in France having branches in Italy, Spain, Germany and also subsidiaries in Switzerland and in the UK for that purpose. iMGP AM is also a subsidiary of iMGP.

Use of links

This website may direct you to automatic links to other websites. Use of these links is made at your own risk. iMGP and the Fund will not have developed, verified the accuracy or scrutinised the data contained in the aforementioned links. iMGP and the Fund may not be held responsible for damage or losses caused by delays, defects or omissions that may exist in the real, indicated or indirect services, information or other content provided on this site. iMGP and the Fund give no guarantee, makes no declaration and will not be held responsible for any content transmitted by electronic means to a third party, including the accuracy, subject, quality or the appropriate character of said content.

Copyrights and Trademarks

The entire content of this website is subject to copyright with all rights reserved to iMGP and the Fund. You may download or print out a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or otherwise copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the website without the prior written permission of iMGP.

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Dynamic Beta investments

Andrew Beer
Miembro gestor de Dynamic Beta investments

¡Los hedge funds están de vuelta!

Andrew Beer, socio gestor de Dynamic Beta investments habla con Alberto Martínez Peláez sobre cómo los inversores han empezado a considerar de nuevo los hedge Funds, en parte para ayudarles a gestionar el riesgo.

¿Por qué invertir en Hedge Funds a largo plazo?

Los Hedge Funds pueden desempeñar un papel importante como diversificador en las carteras tradicionales de activos. Por que están menos limitados que los fondos tradicionales “long only”, pudiendo generar buenos resultados en mercados alcistas o bajistas.
De hecho, desde el año 2000, los Hedge Funds han igualado el rendimiento de la renta variable, con la mitad de riesgo*.
Además, los Hedge Funds pueden proporcionar un elemento de amortiguación o protección frente a los riesgos asociados a las estrategias tradicionales de inversión “long Only”. Por lo tanto, una asignación a largo plazo a los Hedge Funds puede ayudar a mejorar la relación rentabilidad/riesgo.

*Este nivel de riesgo no está garantizado y puede cambiar con el tiempo.

Alberto Martínez Peláez,
Director Distribution Iberia

¿Por qué los Hedge Funds pueden ser un sustituto de la renta fija?

Tras las pronunciadas y repentinas caídas en 2020 y 2021, muchos gestores simplemente quieren salir de la renta fija tradicional; mientras tanto, con el alfa de vuelta, los Hedge Funds parecen tener un potencial de rendimiento mucho mejor, con un riesgo similar o incluso menor*.
La difícil realidad actual es que los inversores en renta fija se enfrentan a unos rendimientos esperados bajos, combinado con un riesgo potencialmente grande a la baja. Tanto los tipos de interés, como los diferenciales de crédito están en o cerca de sus mínimos históricos. En la práctica, a medida que ambos se acercan al ""límite inferior"" de cero, las expectativas de rentabilidad disminuyen y el riesgo aumenta. La recompensa del riesgo ha cambiado.

Fuente: *Bajo riesgo no significa libre de riesgo.

La difícil realidad actual es que los inversores en renta fija se enfrentan a unos rendimientos esperados bajos, combinado con un riesgo potencialmente grande a la baja

¿Qué es la réplica de Hedge funds?

La réplica de Hedge funds trata de identificar los principales factores de mercado que impulsan el rendimiento de los fondos e invertir directamente en ellos a través de instrumentos líquidos y transparentes (por ejemplo, futuros) para obtener resultados comparables.
Las estrategias de réplica tienen varias características que se ajustan a las necesidades de los inversores:

• Tratan de igualar o superar el rendimiento de un conjunto diversificado de Hedge Funds

• Trabajar dentro de las limitaciones de los fondos OICVM, y además ofrecen liquidez y transparencia diarias

• Se aproximan a la rentabilidad del grupo de fondos de alto riesgo al que replican, eliminando el riesgo del gestor subyacente.

• Tienen una estructura de comisiones más eficiente.

La réplica de Hedge funds trata de identificar los principales factores de mercado que impulsan el rendimiento de los fondos e invertir directamente en ellos a través de instrumentos líquidos y transparentes

¿Qué distingue el enfoque de DBi de otros proveedores de alternativas líquidas o fondos cuantitativos?

Durante más de una década, DBi se ha centrado exclusivamente en proporcionar alfa a los Hedge Funds en estructuras que resulten fáciles para los clientes. A diferencia de las gestoras puramente cuantitativas, el profundo conocimiento de Dbi de cómo invierten realmente los Hedge Funds, ha determinado las estrategias que van a intentar replicar y las que no pueden replicarse, así como los métodos de réplica que tienen más probabilidades de funcionar a lo largo del tiempo.

¿Quiere saber más sobre los fondos de DBi?

Inversores estadounidenses

Rentabilidad de los fondos

Inversores europeos

Rentabilidad de los fondos

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Activos de 770 millones de dólares a finales de febrero de 2022

Visite Dyanmic Beta investments

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