Guernsey, 1 November 2022 – Eric Sturdza Investments, an independent asset management firm that provides actively managed strategies to institutional and wholesale clients, has partnered with Boston-based Crawford Fund Management to launch the Strategic Long Short Fund (“Fund”).
The Strategic Long Short Fund is a long-short equity fund that benefits from a unique combination of fundamental equity and options analysis.
The Fund’s long portfolio focuses on undiscovered, underfollowed securities with a strong emphasis on owner-operated companies, where management’s incentives and compensation are closely aligned with investors. The short book relies on two well-honed strategies: hand-picked, single-name put options on young companies with unproven business models, and leveraged equities facing potential distress.
Collectively, the team has extensive experience managing large multi-billion dollar pools of capital across a range of market cycles, and a demonstrated track record of achieving positive returns to investors. Since its inception in 2009, the team’s domestic US product has delivered 10% annualised net returns, being positive in 12 of the past 13 years, and it has consistently outperformed surviving peers.
Potentially of equal importance is the fact that this returns profile has been achieved with substantially less volatility and drawdowns than the equity market generally, with a 5-year Sharpe Ratio to the end of October 2022 of 0.72 vs. a category average of 0.21 and Sortino Ratio of 1.28 vs. a category average of 0.29.
Strategy Historic Performance: Growth (%)
Time Period: Since Common Inception 28/02/2009 to 30/09/2022
The Strategic Long Short Fund is a UCITS-compatible fund and is classified as an Article 8 Fund under the SFDR.
Michaela Zanello Sturdza, Chief Executive of Banque Eric Sturdza SA & Director of E.I. Sturdza Strategic Management Limited, said: “We are delighted to be launching the Strategic Long Short Equity Fund, a new investment product that will further diversify our growing range of global funds. As a firm, we were extremely impressed by Crawford’s performance track record, ethos and expertise. We are pleased to now offer this fund to our clients.”
Christopher Crawford, Managing Partner and Portfolio Manager at Crawford Fund Management said: “We are very much looking forward to working with Eric Sturdza Investments, who have been highly professional and detail oriented since the start of our engagement. We recognised very quickly that there is a strong cultural fit between our two teams, and are excited for our relationship to prosper both over the short and long term.”
Andy Fish, Managing Director at Eric Sturdza Investments, said: “We are experiencing inflation at levels that have not been seen in decades, with almost all asset classes being impacted. For this reason, we are fortunate to be working with an investment adviser that is equipped with the right skills and experience to navigate this new dynamic, a team we believe will be able to continue to deliver absolute and de-correlated returns. We are confident that the team at Crawford are well placed to find the opportunities and add value for our clients in this new market environment.”
The Fund will be initially available for distribution in Ireland and the UK, with other markets to follow soon. The Initial Offering Period (IOP) does not commence until 1 November 2022.
For more information about the Strategic Long Short Fund, contact Adam Turberville.
+44 1481 742380
About Eric Sturdza Investments
Eric Sturdza Investments is an independent asset management firm that provides actively managed strategies to institutional and wholesale clients. We give investors access to the best investment ideas through exceptional investment managers, in product areas where we believe the investment opportunity can add positive value to clients.
The company is part of the Geneva-based Eric Sturdza Group, which incorporates a private bank, a family office and a wealth management company.
Eric Sturdza Investments is headquartered in Guernsey, with offices and representation in Geneva, London, Frankfurt, Paris, Tokyo and Hong Kong. For more information please visit: www.ericsturdza.com
About Crawford Fund Management
Crawford Fund Management was formed in 2009 and is managed by Chris Crawford, Scott Utzinger and Jonathan Saunders (“Crawford”) and is headquartered in Boston. The team pursue an investment strategy which is geared to superior risk-adjusted returns and preservation of capital. In so doing, Crawford uses both long and also short portfolios. Crawford does not focus on a specific sector, a specific geographic region, a specific market capitalisation or a specific investment style, but looks for specific investment characteristics, including a strong orientation to incentives for corporate management. This leads to a promising universe of long ideas for equities that are typically underreported on Wall Street. An innovative, yet conservative approach, in which selling short takes place via single-name-put options, allows Crawford to benefit from opportunities for returns in areas of the market that are hard to access, and often to record returns even if prices fall.
The views and statements contained herein are those of Crawford Fund Management in its capacity as Investment Adviser to the E.I. Sturdza Strategic Long Short Fund as of 01 November 2022 and are based on internal research and modelling. This does not constitute independent research and under no circumstances should the information contained therein be used as a recommendation to buy or sell any security or financial instrument or service to pursue any investment product or strategy or otherwise engage in any investment activity or as an expression of an opinion as to the present or future value of any security or financial instrument. Nothing contained in the views and statements of Crawford Fund Management is intended to constitute legal, tax, securities or investment advice. The views and statements contain “forward-looking statements”. All projections, forecasts or related statements or expressions of opinion are forward-looking statements. Although Crawford Fund Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct, and such forward-looking statements should not be regarded as a guarantee, prediction or definitive statement of fact or probability.
Investment involves risk. The value of investments, the funds and the income which may be generated from them can go down as well as up and therefore investors must be able to bear the risks of a substantial impairment or loss of their entire investments. Past performance is no guarantee of future results.
This communication is issued by Eric Sturdza Management Company S.A (“ESMC”), a regulated Management Company approved by the Commission de Surveillance du Secteur Financier under registration ID S00001025 and appointed by the Fund, registered for distribution in the countries mentioned in this document. ESMC’s registered office address is 16, rue Robert Stumper, L-2557 Luxembourg. ESMC has appointed E.I. Sturdza Strategic Management Limited (“EISSML”), as the investment manager and global distributor which is regulated by the Guernsey Financial Services Commission and registered under Company Number 35985. EISSML’s registered office address is 3rd Floor, Maison Trinity, Rue du Pre, St Peter Port, Guernsey GY1 1LT. EISSML is part of the Eric Sturdza Group. E.I. Sturdza Funds plc and its sub-funds are Irish funds authorised by the Central Bank of Ireland. The information contained herein is estimated, unaudited and may be subject to change.