GLG Alpha Select

The GLG Alpha Select strategy is a market neutral approach that aims to generate consistent alpha through long-short investment in large cap UK equities.
  • The investment team comprises two highly experienced portfolio managers, Charles Long and Nick Judge
  • Liquid holdings: predominantly FTSE 100 companies
  • Alpha generation through a multi-disciplined approach
  • Focus on fundamental stock-picking, with a top-down thematic overlay
  • Derivatives used with the aim to hedge/enhance portfolio

Approach

The managers seek divergences between a company’s value and the market’s perception of its value as defined through the share price. In doing so, they aim to construct a portfolio of stocks that can profit from dislocations in value and in turn outperform the market.

The strategy employs a multi-disciplined approach, the most important element of which is a fundamental stock picking process. The managers generate their views on the strategy, capital allocation and profitability of a given company, with an emphasis on balance sheet strength and cashflow, an aspect often overlooked by the market. In gauging how the market perceives the company, the managers are able to quantify the value dislocation and therefore potential profitability for a long or short position.

Complementing this stock groundwork are the managers’ macro expertise and thematic ideas, driven both internally and through access to GLG’s product capabilities across equities, credit and multi asset strategies.

They use derivatives at the portfolio level for the expression of macroeconomic views and for risk management, and at the stock level to enhance the risk/reward characteristics of individual trades.

Finally, through an active trading style the managers try to deliver an enhanced risk/return profile for the strategy. The result is a style agnostic, multi-disciplined product with neutral market exposure which the managers believe should deliver alpha through differing market environments.

Approach Alternative
Asset Class Equity
Geographic Focus UK

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