Edmond de Rothschild Asset Management has liquidated one of its absolute return strategies, Citywire Selector has learned.
The asset manager made the decision to close the EdRF Fx Absolute Return M EUR Acc as its assets under management were lower than €5m.
The asset management company confirmed it still runs absolute return strategies, specifically the Edmond de Rothschild SICAV Start, which was launched in 2007 and has more than €300m in assets under management.
The liquidated fund was managed by EdRAM’s overlay team and was based on a quantitative approach. It wasn’t overseen by a single fund manager and a spokesperson confirmed the liquidation didn’t impact the investment team.
The liquidated EdRF Fx Absolute Return fund was launched in 2017 and aimed to capture major trends through positions in the forex markets.
The tema’s quant strategies were based on indicators such as volatility break or trend following, while currency weights were based on the performance of quantitative models, the weight of each currency in the fx market, the trend potential, the diversification between currency and economy and the influence of commodity prices.