- Equities - directional and non-correlated funds
- Bond and money-market products
- Alternatives - multi-strategy and single strategy funds
Reyl Funds were developed internally by dedicated teams that specialize in each asset class. Innovation and discipline are the hallmarks of the range, with a precise objective for the funds to deliver a risk-adjusted performance. Our managers have developed investment processes around this idea drawing up on our in-house research and leaving no room for improvisation.
The strategic focus and the managed volumes
We operate internally only. All funds that were white labeled are now managed by in-house managers.
The focus
We emphasis on offering employees favorable work environment with a strong focus on teamwork, performance and corporate values. Each employee performance and ethical behaviors is monitored through compliance and regular assessments.
Processes between fund management and analysts
Our teams work differently depending on the asset class their business unit specializes on. In equities we trade through a systemized bottom up trading approach. Candidate stocks are selected by a proprietary model that regularly rebalances positions across the different funds. The oldest equity fund we manage is the Reyl European Equities that has a 5 year track record and has constantly over performed the relevant indices. In the team, there is no real distinction between portfolio managers and analysts given the particular approach although there is one dedicated person to research. Our fixed income team on the other hand invests with a discretionary approach and is composed of three portfolio managers and two analysts that review positions and assist with the research. Finally the Hedge Fund of Funds team counts on two analysts that are responsible for both operational and standard due diligence for underlying managers.
Assets under management
EUR 1 billion. 69% Institutional – 31% retail
The sales and distribution channels
We have 4 Marketers covering specific regions, 2 marketers which are product focuses and 2 Investor Relations that serve as a junction between our different teams and investors. Considering that we are an investment boutique oriented towards providing our investors with sustainable medium term performance we are focusing on partners with whom we can grow. As per today these are mainly local banks, family offices and independent asset managers. As we grow we are looking at expanding our geographical reach with local partners mainly through distribution channels for our Luxembourg funds.
Current and future investment trends
Emerging markets:
- Since January 1st 2010, Raphael Kassin has joined Reyl Asset Management as a Head of Emerging Markets Debt. Specialist in emerging market bonds, he has found the structure that he thinks is best suited to the continuation of his career.
- In terms of Equities, Thomas de Saint-Seine and his team expanded the coverage of the now called Reyl Emerging Markets Fund to emerging countries and use the same disciplined approach to stock picking.
Facts & Figures
- Date of foundation: September 2002
- Assets under Management (in EUR): 1 billion
- number of funds (breakdown into asset classes)
Equities: 6;
Fixed Income: 4;
Funds of hedge funds: 4 - number of employees
Total: 20; Fund Managers: 5; Analysts: 5; Traders: 1; Middle Office: 2; Marketing: 7; Reyl Asset Management uses Back-Office, compliance, HR and IT with Reyl & Cie (circa 15 shared employees) - fund manager
5 Fund Managers:
Thomas de Saint-Seine & Maxime Botti (Equities)
Stéphane Decrauzat (Fixed Income)
Raphael Kassin (Emerging Debt)
Fabrizio Ladi Bucciolini (Funds of hedge funds) - research department
5 Analysts:
Emmanuel Hauptmann & Thierry Dessingy (Equities)
Carolina Moura-Alves (Fixed Income)
Nicolas Roth & Hasan Aslan (Fund of hedge funds) - largest fund
Reyl (Lux) Tactical Allocations - Quality Bond Fund: Euro 235.24m as at end of March 2010. - currently most successful fund
Reyl (Lux) Global Funds – European Equities: Its objective is to achieve long-term capital appreciation through investments in European equities exhibiting the following characteristics: strong earnings visibility and predictability, robust balance sheet, attractive valuation, above market earnings growth momentum and favorable technical outlook. Our systematic approach is well balanced between fundamental and behavioral driven strategies framed by stringent risk management parameters. We take emotions out of the stock selection process making it repeatable and resistant to dire and unexpected markets.
