Culross Global Fund

Legal Entity

Culross Global Fund is a sub-fund of Culross Funds S.A., SICAV-RAIF, a société anonyme incorporated under the laws of the Grand Duchy of Luxembourg as a société d’investissement à capital variable – fonds d’investissement alternatif réservé. The Company is subject to the law of 23 July 2016 relating to reserved alternative investment funds, as amended or supplemented from time to time. Culross Funds S.A., SICAV-RAIF, the Company, is an Alternative Investment Fund within the meaning of the AIFM Law and 2013 Law.


The Culross Global Fund was launched in January 2000 and remains our flagship fund today. We manage the fund using a top down thematic process. The fund typically holds 6-8 themes, with each theme focusing on a compelling investment story, asset class, region, or investment strategy. Each theme is populated by funds that we carefully select not only for their standalone merits, but also for how closely they match the theme for which they are picked. The fund tends to hold around 20 managers. This thematic approach allows us to select themes that are inherently net long, market neutral, or net short. As a consequence we can select and weight a combination of themes in the portfolio to achieve the overall bullish or bearish tilt that we believe is appropriate for prevailing market conditions. This approach has allowed us achieve effective diversification through many different markets since 2000, most notably in 2008 when short themes prospered. During that difficult year, the fund generated +3.2% net, while the Eurekahedge FoF Index lost -19.0%.


The fund seeks to generate steady positive absolute returns through the business cycle with low correlations to equities or bonds and a strong focus on capital preservation. More particularly, the fund’s target performance is Libor + 600bps net of all fees and costs, with volatility of 3-5%.


The fund offers investors monthly liquidity on 65 days’ notice and so the fund focuses on liquid funds operating in liquid asset classes only.


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