February – Research & performance reporting

As a Research Lab, Bramham Gardens concentrates on building investment strategies based on Artificial Intelligence. Our effort concentrates on US large stocks.

What is very significant at the moment is the low level of volatility in the market. This does not help particularly to distinguish among companies, but it also shows that during such periods of time, our long-short approach behaves steadily.

Looking at the long strategy
The month of February has been a month of relative under-performance versus the SP500. Some firms in particular in the tech or in the healthcare sectors like NVIDIA or Edwards Lifesciences Corp. experimented some price mean-reversion after recent periods of growth. We see this as the indication that though the market is overall rising, there are some signs of forward-looking investor uncertainties related to valuations, as these firms experienced solid Q4 earnings above consensus.

Price based – ex dividends SP500 Long
Year to end of February 5.42% 2.86%
February 3.65% 1.69%

A steady long-short
The long-short strategy smoothed nicely the investment journey in February. [note that the January performance has slightly been revised upwards]

Long-Short Price based
Year to end of February 0.82%
February -0.03%

Partnership news
Boussard & Gavaudan, the well-recognized asset management firm, has now launched a UCITS Sicav fund, which follows our long-short US strategy.

We are available to discuss with you our work : contact@bramham-gardens.com