The Fund is an absolute return, long/short fund that invests in both sovereign and corporate emerging market credit; with a regional focus on Central and Eastern Europe, Middle East and Africa (CEEMEA).
The Waha EM Credit Fund was established in 2012. It is the Fund with the longest track record at Waha Capital. The Fund targets an absolute return throughout market cycles and primarily invests in hard currency fixed income instruments from Emerging Market corporate and sovereign credits in the Central and Eastern Europe, the Middle East and Africa (CEEMEA) region.
With decades of combined investment experience, our team of highly skilled and seasoned professionals actively manage this Fund. The Waha EM Credit Fund employs a long/short strategy that aims to minimise the risk and volatility but also takes advantage of market price dislocations on the short and/or long side.
Our strategy combines a top-down global macroeconomic view as well as a bottom-up individual company analysis with a valuation overlay to implement relative value trades that are actively managed on a daily basis. We ensure that the fund substantially hedges our interest rate risks and FX exposure back to USD to focus on identifying relative value in credit.
Total Return Performance
| Returns |
1 M |
3 M |
1 Yr |
YTD |
Annualized SI1 |
Cumulative SI2 |
| Fund (Net) |
2.8% |
8.7% |
15.9% |
8.7% |
10.1% |
231.4% |
| Index1 |
2.1% |
2.0% |
11.3% |
2.0% |
3.5% |
55.8% |
Calendar Year Performance
| Returns |
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
| Fund (Net) |
3.8% |
15.5% |
14.9% |
7.2% |
1.8% |
9.5% |
| Index1 |
-4.3% |
15.0% |
5.2% |
-1.8% |
-17.8% |
11.1% |
| Returns |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
| Fund (Net) |
27.9% |
4.9% |
-0.4% |
7.0% |
15.9% |
11.6% |
| Index1 |
17.4% |
-5.25% |
7.4% |
1.2% |
10.1% |
10.2% |
Data presented is as of 29 March 2024. (1) Please note the reference index not to be used as a benchmark for performance as it is not a direct comparison, source: Bloomberg LLP. (2) Inception date of Fund is 1 Jan 2012.
