In Volatilität investieren

e-fundresearch.com: Mr. Gilbert Keskin, you are the fund manager of the Amundi Funds Absolute Volatility Euro Equities – AE fund (LU0272941971). When did you take over the responsibility of managing this fund?

Gilbert Keskin: Since inception. This new process has been launched in December 2005 in a French vehicle. The Luxemburg Sicav for the same process has been created in November 2006.

e-fundresearch.com: What is the current size of the fund?  

Gilbert Keskin: As of 30/08/2013 the fund size was 2.04Bn€.

e-fundresearch.com: Do you also manage other funds or mandates?

Gilbert Keskin: Yes, I am also in charge of the French domiciled equivalent fund (Amundi Volatilité Actions Euro) and the fund Amundi Funds Absolute Volatility World Equities which is the same strategy on a global investment universe. I’m also the lead portfolio manager of 2 mandates using the same strategy.

e-fundresearch.com: What is the total amount of assets you manage currently?

Gilbert Keskin: As of 30/08/2013 3.9Bn€

e-fundresearch.com: How long have you been in the business as a fund manager?

Gilbert Keskin: I have been managing Volatility and convertible bonds portfolios since 2002.

e-fundresearch.com: What are the main steps in your investment process and in which area is your competitive edge to add value to investors?

Gilbert Keskin: The fund offers to investors a strategy which diversifies well the rest of risky assets investments. An exposure to volatility is a good way to limit the drawdown of a balanced portfolio or an alternative portfolio. The issue with a volatility exposure is: it doesn’t bring any value on a medium/long term except protection and even more have huge costs. Amundi volatility funds offer an active management of this volatility exposure in order to deliver an absolute performance over a minimum 3 years investment horizon and still bring good decorrelation in a portfolio.

e-fundresearch.com: Which benchmark is most relevant and how should investors compare the fund vs. benchmarks or peer groups?

Gilbert Keskin: There’s no relevant benchmark for this process. The objective of the funds is to deliver 7% gross return over a minimum investment horizon of 3 years.

e-fundresearch.com: Which performance did you achieve for the fund YTD and over the past five calendar years in absolute terms and relative to relevant benchmark or other reference indices?

Gilbert Keskin: As of 30/08/2013 performances are as followed: YTD : -4.39%
2012 : -1.82%
2011 : 2.34%
2010 : 7.12%
2009 : 5.76%
2008 : 22.58%

e-fundresearch.com: What motivates you in your job?

Gilbert Keskin: One of the main motivations being a fund manager and even more on an asset class like volatility is to have a perpetual challenge to make good choices. Performances are then here to judge the quality of your job.

e-fundresearch.com: Many thanks!