SYZ Asset Management: First eight months of success for Michael Clements

GENEVA, May 19, 2015 (GLOBE NEWSWIRE) — Eight months after the appointment of Michael Clements, SYZ Asset Management has conducted a highly positive initial review of Michael’s arrival as Head of the European Equities team. Michael Clements has been quick to take advantage of his fully dedicated analysis and investment management team and both the OYSTER European Opportunities and OYSTER European Selection funds have enjoyed excellent performance, outperforming both their benchmark index and their peer group. In an economic context that is fundamentally favourable to European equities, Michael Clements and his team can detect many undervalued stocks ripe for appreciation as a result of his long-term contrarian investment approach.

Highly positive review
Eight months after the appointment of Michael Clements as Head of European Equities on 1 September 2014, the results of his arrival as head of the London-based team are rated as highly positive. Michael Clements has all the flexibility needed to implement his investment style and, assisted by a fully dedicated analysis and management team, he has been able to widen the universe of his investment opportunities. The excellent performance of the two flagship funds, OYSTER European Opportunities and OYSTER European Selection, bear witness to this. Since Michael Clements took over management of the funds, they have seen growth of +22,25% and +24,08%[1] respectively, compared with +17,66% for their benchmark index, the STOXX Europe 600 NR EUR. These outstanding results have also enabled these funds to outperform their peer group (Lipper Global Equity Europe: +17,22% over the same period), classifying them in the 9th and 11th percentiles respectively.

Conviction management
While the OYSTER European Selection fund is slightly more concentrated, both European equity funds share the same active management approach, based on alpha generation and strong convictions. The investment approach remains completely agnostic as regards investment style. The management team invests mainly in high-quality companies that have strong competitive advantages and robust balance sheets but whose share prices are temporarily suffering downward pressure. This focus on valuation means that the funds tend to invest in a contrarian manner. Finally, the team’s management philosophy attaches great importance to risk assessment and control, meaning the team can also outperform during periods of declining markets.

Three strong supports for European equities
Even though the European markets have done well since the beginning of the year, euro zone equities still seem attractive and their medium-term prospects look positive. This is because Europe is benefiting from three powerful driving forces. First, the quantitative easing programme put in place by the ECB will increase liquidity and keep interest rates at rock bottom. Second, the economic climate is being stimulated by the decline in oil prices over the past year. Finally, the weak euro will help exports. In this positive environment, the team managed by Michael Clements can detect many investment opportunities. These macroeconomic dynamics have led to the undervaluation of certain sectors that have lagged behind in share price growth such as the construction sector, with the fund holding positions in companies such as Legrand, Schneider, Zumtobel, Kingfisher and Countrywide, all of which look attractive on a long-term basis. In the energy sector, Michael Clements is currentl
y hunting for potential new ideas as share prices are under pressure due to concerns about the low oil price.

Administrative information

  OYSTER European Opportunities                                                                  

  Available share classes           ISIN                      Mgmt Fee            Perf. fee      
  Class EUR                         LU0096450555               1.75%             10% absolute    
  Class EUR2                        LU0507009503               1.75%            20% relative*    
  Class CHF2                        LU0608364427               1.75%            20% relative*    
  Class USD2                        LU0933606054               1.75%            20% relative*    
  Class No Load EUR                 LU0133194562               2.25%             10% absolute    
  Class R EUR2                      LU0507009925               1.00%            20% relative*    
  Class R GBP2                      LU0507009768               1.00%            20% relative*    
  Class S EUR                       LU0335767496               1.00%             10% absolute    
  Class I EUR2                      LU0933606302               0.90%            20% relative*    
  Class I EUR2 D                    LU0933607292               0.90%            20% relative*    

  *NB: Performance fee is calculated on the outperformance over STOXX Europe 600 EUR (net return)
  (Ticker SXXR, in EUR)                                                                          

Risk profile:

  Lower risk                    Higher risk            
  Potentially lower risk        Potentially higher risk
  1            2          3  4  5        6       7     

  OYSTER European Selection                                 

  Available share classes  ISIN          Mgmt Fee  Perf. fee
  Class R EUR              LU0688633170   1.25%       --    
  Class R CHF              LU0688633337   1.25%       --    
  Class EUR                LU1045038533   2.00%       --    
  Class I CHF              LU1045038889   1.00%       --    

Risk profile:

  Lower risk                    Higher risk            
  Potentially lower risk        Potentially higher risk
  1            2          3  4  5        6       7

The prospectus, the key investor information documents, the articles of association and the annual and semi-annual reports on the funds are available from the representative and payment agents.

For more information, contact:
Moreno Volpi
Tel: +41 (0)58 799 16 98

Note to Editors

About SYZ Asset Management
SYZ Asset Management is the institutional management entity of the SYZ Group. It provides traditional and alternative investment solutions to institutional investors such as pension funds, insurance companies, corporates and investment funds.SYZ Asset Management meets the highest standards in terms of institutional management and service to its clients using its own resources as regards economic research and financial analysis as well as in portfolio management and risk management.

About SYZ
Founded in Geneva in 1996, the Swiss banking group SYZ has, thanks to its original concept and proven results over a number of years, won recognition as a respected player in the financial sector. Exclusively focused on wealth management, SYZ has 440 staff and assets under management of CHF 29 billion (EUR 28 billion). Besides the Bank’s head office in Geneva, the Group has other locations in Switzerland – in Zurich, Lugano and Locarno – and overseas in Milan, Madrid, London, Edinburgh, Luxembourg, Brussels, Paris, Dubai, Nassau and Hong Kong. Its activity is based on two mutually reinforcing pillars: high-end private banking and institutional management in the form of mandates and investment funds.

About OYSTER funds
OYSTER is the family of UCITS investment funds developed by SYZ Asset Management and designed to meet the specific needs of professional clients. Explicitly based on active, high-performance management, this Luxembourg-based fund comprises nearly 30 compartments authorised for distribution in and from Switzerland and is currently registered and distributed in various countries in Europe and Asia through an extensive distribution network. To satisfy this discerning and demanding client base, SYZ Asset Management entrusts management of its OYSTER funds to internal and external fund managers. A number of strategies have also been the recipients of internationally recognised awards.


  OYSTER Sicav                          SYZ Asset Management                                                            
  11-13 Boulevard de la Foire           (Luxembourg) SA                                                                 
  L-1528 Luxembourg                     54 rue Charles Martel                                                                      L-2134 Luxembourg                                                               
                                        Tel. : +352 26 27 36 1                                                          


  Switzerland                           Germany                          Italy                                          
  Service de paiement pour la Suisse    Zahlstelle                       Soggetto incaricato dei pagamenti              
                                                                         RBC Investor Services Bank SA Succursale di    
  Banque SYZ SA                         BHF-BANK AG                       Milano                                        
  Rue du Rhone 30                       Bockenheimer Landstrasse 10      Vie Vittor Pisani 26                           
  CH-1204 Geneve                        D-60323 Frankfurt                I-20124 Milano                                 
  Tel. : +41 (0)58 799 10 00            Tel.: +49 (0)69 718 22 75        Tel.: +39 02 305 756 1                         

                                        France                           Soggeto incaricato dei pagamenti               
  Representant pour la Suisse           Agent centralisateur             State Street Bank SpA                          
  SYZ Asset Management (Suisse) SA      BNP Paribas Securities Services  Via Ferrante Aporti 10                         
  Rue du Rhone 30                       9 rue du Debarcadere             I-20125 Milano                                 
  CH-1204 Geneve                        F-93500 Pantin                   Tel.: +39 02 879 671 53                        
  Tel. : +41 (0)58 799 19 05            Tel. : +33 1 57 43 12 58                                                        
                                                                         Soggeto incaricato dei pagamenti               
  Spain                                 Austria                          Societe Generale Securities Services SpA       
  Entidad comercializadora              Zahlstelle                       Via Benigno Crespi 19/A-MAC 2                  
                                        Raiffeisen Bank International                                                   
  Allfunds Bank                          AG                              I-20159 Milano                                 
  C/ Estafeta N:o6 (La Moraleja)        Am Stadtpark 9                   Tel.: 39 02 917 846 61                         
  Complejo Pza. de la Fuente- Edificio                                                                                  
   3                                    A-1030 Wien                                                                     
  28109 Alcobendas                      Tel.: +43 (0)1 717 070           Soggeto incaricato dei pagamenti               
  Tel.: +34 (0)91 274 64 00                                              Allfunds Bank SA                               
                                                                         Via Santa Margherita 7                         
                                                                         I-20121 Milano                                 
                                                                         Tel.: +39 02 896 283 01                        
  Belgium                               Sweden                                                                          
  Agent financier - Financiele agent    Paying Agent                                                                    
  Caceis Belgium SA                     MFEX Mutual Funds Exchange AB                                                   
  Avenue du Port 320                    Linnegatan 9-11                                                                 
  Havenlaan 86C b                       114 47 - Stockholm                                                              
  B-1000 Bruxelles                      Sweden                                                                          
  Tel. : +32 (0)2 209 26 40             Tel.: +46 (0)8 559 03 650


Oyster SICAV is an open-ended multi-fund investment company established and regulated in Luxembourg and recognised in the United Kingdom (“UK”) by the FCA under s. 264 Financial Services and Markets Act 2000 with reference number 534187. This document has been issued in the UK by SYZ Asset Management LLP (authorised and regulated by the FCA with reference number 462914). Potential investors in the United Kingdom are advised that none of the protections afforded by the UK regulatory system will apply to an investment in any Oyster SICAV sub fund and that compensation will not generally be available under the Financial Services Compensation Scheme. Copies in English of the SICAV’s current Prospectus and Key Investor Information Document can be obtained from SYZ Asset Management LLP. Instructions to purchase or redeem shares of any class available to UK Investors can also be placed with them. Past performance is not a guide to the future, and the value of investments can fall over time as well as rise. An investment in sub-funds of Oyster SICAV involves risks that are more fully described in the Prospectus. The content of this media release is provided solely for information purposes and constitutes neither a recommendation to buy or sell. Always consider taking independent investment advice from a person properly authorised and regulated prior to investing.

[1] Performance for OYSTER European Opportunities R EUR2 and OYSTER European Selection R EUR between 1 October 2014 and 15 May 2015.

press release – SYZ AM – Mike Clements: