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
31/05/2022
FUND SIZE
31/05/2022
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 -7,8% in May. There were two way markets in May, where equity indexes continued their drawdown until the last week of the month,which saw a strong rebound that left the month’s positive performance basically flat. Precious metals suffered from higher real yields, while the USD had a two way market,outperforming the first three weeks, but giving back gains to end up slightly lower at the end nof the month. We believe not much has changed, but market positioning is doing its job, together with strong buyback announcements. We expect inflation to be more persistent than initially thought and central banks should react by removing monetary stimulus in an accelerated way. Consumer confidence and savings decresase wont predict strong demand for discretionary comsumption going forward. We expect macro numbers to fade in H2. Earnings expectations keep going up and we see the risk of a downward revision that is not properly priced into equities.
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.
