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Fund detail

Multi Strategy – Pendulum

Launched in 1999, Pendulum is a low volatility multi-strategy fund. With a 25year track-record, Pendulum has proven its ability to navigate different credit and interest rates cycles.

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Change investor profile
StructureMulti-Managers Multi-PM (SICAV Part II)
Investment overview

Launched in 1999, Pendulum is a low volatility multi-strategy fund. With a 25year track-record, Pendulum has proven its ability to navigate different credit and interest rates cycles.

  • Low volatility multi-strategy fund
  • The Fund invests in a selection of proven hedge fund managers in the macro and relative value arbitrage space across equities, credit, commodities and FX
  • Investment objective: Low volatility returns through strategy diversification and limited drawdowns
  • Expected Annualized Return: 5% to 8%
  • Expected Annualized Volatility: below 3%
  • Emphasis on downside protection
  • Monthly liquidity
Why consider this fund
Well-diversified and robust fund comprised of best-of-breed Hedge Fund managers
Defensive risk/return profile during market drawdowns, whilst generating a high Sharpe and Sortino ratio
Significant skew towards multi-manager platforms with a strong emphasis on risk control (“Darwinian” approach)
Access to niche strategies / markets with limited capacity (many invested managers are hard closed and/or have a high minimum investment)
Negative correlation to global equity markets as measured by its Beta vs. the MSCI World Index
Investment process and characteristics

Portfolio

  • The selected fund managers use non-directional, market neutral and arbitrage strategies. This includes equity, convertible, merger, fixed income, commodity and currency arbitrage. Some managers will use leverage.
  • As global macro imbalances are still significant and bank proprietary trading desks are closing we believe that arbitrage strategies can deliver interesting returns while keeping a relatively low levels of volatility
  • Concentrated around 15 managers

Alternative to fixed income

  • Low volatility profile
  • Emphasis on risk control limiting downside capture and generating high Sortino and Sharpe ratios
  • All-weather product with the ability to compound with consistency and low correlation to markets
  • Diversification across multiple sub-strategies globally via seasoned multi-manager structures
Investment team
Caron BastianpillaiSenior Portfolio Manager
Gabriele CasatiSenior Portfolio Manager
Cédric Dingens, CAIAHead of Investment Solutions and Institutional Clients, Member of the Executive Committee
James MacphersonCountry Manager United Kingdom, Senior Portfolio Manager
Share classes
Strategy AuM
Fund DomicileLU
Fund AuMCHF 123 062 524
NAV136.41 CHF
Fund ManagerCaron Bastianpillai
Fund Inception Date31 December 1998
Fund Reference CurrencyUSD
Share class CurrencyCHF
SRI Indicator1234567
AdministratorApex Funds Services SA
CustodianUBS Europe SE, Luxembourg Branch
AuditorPricewaterhouseCoopers S.C.
Countries Available for SaleBE, CH, DE, ES, FR, IT, LU, NL, SI
Last update 16.06.2026 See more information

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