fund details and performance

Latest Monthly Report

GAA USD Alpha Fund Factsheet

Fund Overview

The investment objective of the Fund is to achieve steady, long-term capital growth, with a high level of stability whilst generating a source of internal income for the benefit of the Fund.

Key Benefits

  • Fund of best of breed award winning funds
  • First class track record
  • Multi asset class funds chosen to maximise returns via asset diversification

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Investment Strategy

The investment objective will be pursued by investing in a wide range of third party Funds, including equity, property, fixed interest and alternative strategy Funds. In addition to third party Funds, it may also consider a diversified portfolio of collateralised income yielding fixed income notes as well as other financial instruments, including listed equities, swaps, equity derivatives, forwards, options, warrants, convertibles and debt securities. Over the counter derivatives may be used as well as direct investment into third party managed funds investing in similar asset classes. The number of underlying Funds and financial instruments held by the Fund is dependent on the total assets 
under management.

The Fund will adhere to the principles of diversification as a method to reduce the Fund’s volatility in returns. The underlying Funds held will invest in a diversified portfolio of companies and equity, property, alternative and fixed interest related instruments. Diversification will be monitored across stocks, sectors, countries and investment themes.

The Fund may from time to time either directly, or via third party managed funds, use various hedging and other portfolio management techniques in order to enhance return or manage financial market risk. Typically such hedging techniques may include the purchase of short swaps to protect the Fund from global market drawdown as and when deemed appropriate.

For temporary defensive purposes or in order to earn a return on available cash balances pending investments or reinvestment, the Fund may invest in short-term debt securities of corporate or government issuers, and in other money-market instruments. The Fund may buy, or write options of any and all types. The Fund may deal in stock index futures, whether for hedging or to gain exposure to a particular market or sector. To the extent permitted by the regulatory authorities, it may engage in short selling, that is, the sale of securities it does not own in anticipation of a decline in the market price or to hedge a portfolio position. The Fund may engage in currency exchange transactions, including short positions, in the spot or forward markets. The Fund may invest in other Class Funds of the Company or other Funds managed by the Manager.

Fund Information

Name  : GAA USD Alpha Fund
Launch Date : 1 September 2010
Offer Price : US$ 100 per share
Minimum Investment : US$ 25,000
Entry Fee  : Zero cost of entry 
Management Fee : 1.75% per year
Early Redemption  : 6% year 1 reducing by 1.2% per year to 0 after year 5
Performance Fee  : 10% of net new highs based on high watermark

Dealing Information

Corporate Strength

Issued by : GAA Investment Funds Limited, Bermuda
Fund Manager : Global Asset Allocation Limited, Bermuda
Custodian  : Bermuda Commercial Bank Ltd, Bermuda
Administrator : Apex Fund Services Pte Ltd, Singapore
Auditor : KPMG, Bermuda
Legal Council : Conyers, Dill & Pearman, Bermuda
Authority  : Bermuda Monetary Authority

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GAA USD Alpha Fund Performance

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GAA USD Alpha Fund Valuation Calculator

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End of month Performance Table

GAA USD Alpha Fund End of Month Performance
2010JanFebMarAprMayJunJulAugSepOctNovDecSince Launch
Alpha0%-0.50%+2.36%-4.44%+1.15% -1.55%
MSCI+9.11%+3.65%-2.35%+7.25% 14.34%

Alpha-0.76%+0.33%-0.50%+1.69%-1.37%-2.29%+1.55%-1.16%+4.37%-7.51%-1.97%-1.01% -8.73%
MSCI+2.19%+3.33%-1.24%+4.02%-2.45%-1.73%-1.89%-8.41%-7.70%+10.26%-2.69%-0.17% -7.61%

Alpha+0.21%+2.43%+0.89%-2.49%-1.49%-0.40%-0.28%-0.35%+0.99%-0.02%-0.27%-0.52% -1.37%
MSCI+4.93%+4.66%+1.02%-1.37%-8.99%+4.93%+1.20%+2.29%+2.52%-0.76%+1.07%+1.75% 13.18%

Alpha+0.51%-0.08%+0.89%+0.26%-0.62%-1.12%+0.19%-0.49%+0.41%-0.49%-0.32%-0.38% -1.24%
MSCI+5.00%-0.02%+2.09%+2.90%-0.29%-2.61%+5.19%-2.33%+4.82%+3.83%+1.59%+2.01% 24.10%

Alpha-0.70%+0.16%-0.75%-0.68%-0.07%-0.21%-0.71%-0.94%-0.67%-0.55%+0.08%-0.50% -5.40%
MSCI-3.77%+4.81%-0.09%+0.83%+1.63%+1.65%-1.67%+2.00%-2.88%+0.57%+1.84%-1.71% 2.93%

Alpha+0.07%-0.11%+0.27%-0.58%-0.70%-1.20%-0.51%-1.64%-0.64%+1.18%-0.60%-1.00% -5.35%
MSCI-1.88%+5.68%-1.81%+2.16%+0.05%-2.46%+1.73%-6.81%-3.86%+7.83%-0.67%-1.87% -2.74%

Alpha-1.70%-0.21%-0.35%-0.04%-0.63%-0.09%+0.34%+0.16%-0.10%-0.56%-0.40%+0.16% -3.38%
MSCI-6.05%-0.96%+6.52%+1.77%-0.16%-1.28%+4.15%-0.13%+0.36%-2.01%+1.25%+2.29% 5.32%

Alpha+0.32%+0.51%+0.25% 1.08%
MSCI+2.35%+2.58%+0.82% 5.85%

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GAA USD Alpha Fund Prices

Launch Date : Feb 2011
Launch Price : USD 97.70

End of month Price Table

GAA USD Alpha Fund End of Month Prices
2010JanFebMarAprMayJunJulAugSepOctNovDecSince Launch
Alpha100.0099.50101.8597.3398.45 -1.55%
MSCI100.00109.11113.10110.44118.45 14.34%

Alpha97.7098.0297.5399.1897.8295.5897.0695.93100.1292.6090.7889.86 -8.73%
MSCI121.04125.07123.52128.49125.35123.18120.85110.69102.16112.64109.61109.43 -7.61%

Alpha90.0592.2493.0690.7489.3989.0388.7888.4789.3589.3389.0988.63 -1.37%
MSCI114.82120.17121.40119.74108.97114.34115.72118.37121.36120.43121.73123.85 13.18%

Alpha89.0889.0189.8090.0389.4788.4788.6488.2188.5788.1487.8687.53 -1.24%
MSCI130.05130.02132.74136.59136.20132.65139.53136.28142.84148.32150.68153.70 24.10%

Alpha86.9287.0686.4185.8285.7685.5884.9784.1783.6183.1583.2282.80 -5.40%
MSCI147.91155.03154.89156.17158.71161.32158.63161.81157.16158.05160.96158.20 2.93%

Alpha82.8682.7782.9982.5181.9380.9580.5479.2278.7179.6479.1678.37 -5.35%
MSCI155.23164.05161.08164.56164.64160.60163.38152.26146.38157.84156.79153.86 -2.74%

Alpha77.0476.8876.6176.5876.1076.0376.2976.4176.3375.9075.6075.72 -3.38%
MSCI144.55143.16152.50155.21154.96152.98159.32159.11159.68156.47158.42162.04 5.32%

Alpha75.9676.3576.54 1.08%
MSCI165.86170.14171.53 5.85%

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