All Commodity Plus Fund

In many investors’ portfolios, commodities hold only a niche position – if they are considered at all. Yet commodities offer attractive characteristics that set them apart from other alternative investments and make them ideally suited as an optimising portfolio allocation:

Return potential
An alternative source of returns that, over the long term and with an appropriate investment strategy, has demonstrated an equity-like risk-adjusted return profile.

Diversification
Low average correlation to traditional asset classes (equities, bonds). Historically, the inclusion of commodities in a balanced portfolio has sustainably increased risk-adjusted returns.

Inflation protection
Among all asset classes, commodities have the highest degree of sensitivity to inflation.

Liquidity
Exceptionally high liquidity compared to other alternatives, thanks to access via futures markets.

The All Commodity Plus Fund offers investors an efficient way to gain broadly diversified exposure to the global commodities markets.

The balanced, systematic investment strategy – which considers all commodity sectors relevant to European investors – aims to capture the overall trend of the commodity asset class while offering an attractive return and risk profile compared with standard benchmarks. It is further optimised through a dynamic selection of contract maturities (PACI Adaptive Roll) to maximise roll yield while maintaining high liquidity.

As an allocation within an equity- and bond-dominated portfolio, the fund offers an attractive opportunity to optimise risk and return, given the low correlation from a diversification perspective.

• By gaining exposure to a diversified, cross-sector commodity basket, investors participate in secular trends such as the energy transition, climate change, ongoing urbanisation, and sustained global population growth – all of which significantly influence and reshape the supply and demand dynamics of many commodities.

• Systematic investment approach: Commodity selection, weighting, and ongoing contract selection are guided by economic efficiency considerations and optimisation of the roll yield profile, enhancing return potential.

• Inflation protection: Historically robust performance during periods of elevated inflation.

• Liquidity & transparency: Implementation is cost-efficient via exchange-traded futures on regulated exchanges. The strategy avoids the use of OTC commodity derivatives (Total Return Swaps, etc.), ensuring high liquidity and portfolio transparency.

• Conservative collateral investment: Underlying capital (collateral) is invested in US Treasury Bills and high-quality money market instruments.

• Optional currency hedging: Share classes available in USD-denominated or CHF-hedged formats.