Quadriga Igneo fund provides investors with a liquid absolute return strategy with a dual objective of cpital preservation and upside participation in the long-term performance of the precious metals sector.
We achieve this through anti-bubble and anti-crisis strategies such as precious metals, US Treasuries and long-term options.
LIQUIDITY VALUE ($/SHARE)
Class A – ISIN LU1844121522
30/09/2022
FUND SIZE
30/09/2022
Quadriga Igneo UCITS is a daily liquidity strategy focused on:
We meet these objectives throufgh our structural positions in anti-bubble and anti-crisis strategies such as precious metals, US Treasuries and option purchases. It is a discretionary managed strategy that follows disciplined mandate and risk limits that include zero leverage, zero short positions and only buying options. This is combined with top -down macro analysis, bottom-up micro analysis, quantitative, technical and positional analysis, within a disciplined framework for portfolio construction and risk management.
What happened during the month? Quadriga Igneo UCITS is +13,1% in September. September brought strong loses for risk assets with SPX losing -9.22%, Eurostox 600 -6.43% or Emerging markets -11.54% (leaded by HS index -13.15%). Bonds were not different with average loses of -3.5% in either government or corporates. More persistent than initially thought, inflation is finally wakening up central banks on the need of higher rates, and monetary stimulus removal. With the FED leading the way and being ahead of the other CBs, the USD performance (+2.55 vs EUR, +4.17% vs JPY, +3.92% vs GBP, +3.40% vs CNH) is starting to hurt sentiment in markets and forced the intervention of BOJ, BOE and PBOC to defend their currencies from strong, uncontrolled devaluation. The very negative news of energy cuts from Russia into Europe, and the pipeline sabotage, has nothing but increased uncertainty. We witness this events as the beginning of unfolding the problems created by a decade and a half of extremely lose monetary and fiscal policies, that has created massive bubbles in many assets. We believe there are great
vulnerabilities ahead if a recession comes true and we finally see a strong repricing in EPS expectations for next two years
Every month we review the evolution of the fund with investors by video conference. Find below the latest video conference monthly.
Diego Parrilla
INVESTMENT MANAGER
Diego has over 21 years of experience in the industry. Prior to joining Quadriga, he worked for JP Morgan, Goldman Sachs, Merrill Lynch, Nareco, BlueCrest, DymonAsia Capital and Old Mutual.
Diego holds a degree in mining and petroleum engineering from the Universidad Politécnica de Madrid and two master’s degrees in economics related to oil and minerals.
