RHO Investments
Assymetric returns and capital preservation
A multi-strategy absolute return and weekly liquidity fund whose objective is to generate equity returns with a fraction of the volatility. It achieves this through the experience of its managers and the flexibility of its mandate, being able to invest in stocks, bonds, derivatives or interest rates depending on what is most attractive and cheapest at different times of the economic cycle.
Substrategies
The investment team focuses on finding assets with asymmetric risk-return profiles and allocates resources to six substrategies:
- ACTIVE: using statistical and technical models, investment opportunities are sought in the very short term, up to a maximum of one week.
- MACRO: It anticipates and capitalizes on trend changes occurring in the main financial asset classes through an analysis of fundamental and technical variables.
- MICRO: direct positions in misspriced values according to historical standards or our valuation models based on fundamental analysis and specific sector analysis.
- RELATIVE VALUE: A combination of long and short positions, meaning buying undervalued securities and selling those that are overvalued, with the goal that over time the relative valuations between both assets will converge to levels closer to their theoretical fair price. Thanks to the combination of both positions, the investment pairing offers lower risk compared to directional investments (MICRO and MACRO).
- SPECIAL SITUATIONS: investments based on the anticipation of corporate events, such as M&A, share buybacks, liability and hybrid capital optimization, corporate restructurings, and bankruptcy/insolvency processes.
- DEEP VALUE: investments in assets whose value is tied to relative illiquidity or that require a significant period of time to reach the intrinsic value of the investment (such as a full economic cycle, IPO, etc.).
More
With over 15-year track record, the fund has generated a net annual return of 7.3% with a volatility of 10.08% (compared to a +20% volatility of the stock market). The fund performs very steadily in hostile markets: over the last 5 years, it has achieved a net annual return of +10% with a less than 13% volatility. In 2023, it generated a return of 15.0% with a volatility of 8.3%.
Ranked in the 96th percentile in BBG for a 5-year outlook, in recent years it has been nominated for the most prestigious awards in the Hedge Fund industry: 2022 Eurohedge Awards and 2021 Investors Choice Awards as Multi-Strategy Fund and Best Long-Term Performance Multi-Strategy Fund.
Rodrigo Hernando, CEO
- Founding partner of Auriga Global Investors, with 29 years of investment experience among the most respected players in the fixed income and credit markets in Iberia.
- Before co-founding Auriga in 2007, Rodrigo was the Director of Fixed Income at Caja Caminos and the Director of Fixed Income at Activos en Renta.
- Rodrigo holds a degree in Economics and Business Studies from Wolverhampton University, UK, 1995.
José Mosquera, CIO
- Over 27 years of experience in investments, proprietary trading, and market-making in global fixed income and credit markets in both cash and derivatives.
- Before joining the RHO team in 2015, José served as General Director and Head of Team Management and Trading at leading firms in the sector such as Barclays Capital, UBS y HSBC.
- José holds a Master’s degree in International Securities, Investment, and Banking from Henley Business School, UK, 1997.
Jorge Peñalba, Sr. Analyst
- 10 years of professional experience in corporate finance.
- Before joining the team, Jorge was an M&A Analyst at the UBS London office before moving to the Madrid office as an Associate Director.
- Jorge holds a degree in Business Administration and Management from CUNEF, having completed a year of studies at the University of South Carolina.
Catalina Augustin, IR
- An engineer who shifted her focus to the financial sector and Investor Relations.
- She began her career managing renewable energy projects at Acciona, collaborating with startups and securing institutional funding for innovation projects. She later developed her IR profile at a venture capital firm.
- Catalina holds a dual Master’s degree in Smart Industry and Industrial Engineering from ICAI – Universidad Pontificia Comillas.
Prospectus
Annual Accounts
2023 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2023_esp
Annual Accounts RHO Multi-Strategy SIF 2023_eng
Annual Accounts RHO Investments SIL 2023_esp
2022 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2022_esp
Annual Accounts RHO Multi-Strategy SIF 2022_eng
Annual Accounts RHO Investments SIL 2022_esp
2021 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2021_esp
Annual Accounts RHO Multi-Strategy SIF 2021_eng
Annual Accounts RHO Investments SIL 2021_esp
2020 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2020_esp
Annual Accounts RHO Multi-Strategy SIF 2020_eng
Annual Accounts RHO Investments SIL 2020_esp
2019 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2019_esp
Annual Accounts RHO Multi-Strategy SIF 2019_eng
Annual Accounts RHO Investments SIL 2019_esp
2018 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2018_esp
Annual Accounts RHO Multi-Strategy SIF 2018_eng
Annual Accounts RHO Investments SIL 2018_esp
2017 Fiscal Year
Annual Accounts Quadriga Asset Managers SGIIC 2017_esp
Annual Accounts RHO Multi-Strategy SIF 2017_eng
Annual Accounts RHO Investments SIL 2017_esp
MANAGEMENT TEAM
Rodrigo Hernando – CEO
José Mosquera – CIO
Jorge Peñalba – Sr Analyst
CONTACT PERSON
Catalina Augustin
CURRENCY
EUR
CLASS
ISIN:
SIL – Class A: ES0155144035
SIF – Class A: LU1610886332
BLOOMBERG:
SIL: S1412
SIF: RHOSIFA LX
LIQUIDITY
