Chanos & Co Equity L/S Fund





Chanos & Co Equity Long / Short Fund

The Chanos & Co Equity Long/Short Fund targets short based alpha with a variable, but average 20% net long to broad equity markets

Chanos & Co Strategy

  • The Chanos & Co Equity Long / Short fund is a daily liquidity UCITS fund managed by Green Ash but sub-advised by Chanos & Co
  • It is a unique long / short strategy with a variable net (+/-40%) exposure. Alpha is generated on the short side and risk-managed with passive long positions
  • The strategy aims to create short alpha from Jim Chanos’ +37 year track record in fundamental research
  • It is designed for all market environments but thrives in challenging times when investors need it the most
  • The strategy aims to add value in a portfolio context due to its low correlation with equity markets and lower beta vs. most L/S funds

Jim Chanos and Chanos & Co

  • Chanos & Co is a global investment firm founded in 1985 by Jim Chanos
  • Jim Chanos, a Wall Street legend, is a world renowned short seller best known for predicting Enron’s demise. He is famed for methodically identifying fraud and other systemic inefficiencies and expressing short positions on those companies
  • “We read footnotes for a living and try to find value wherever the market excesses are” Jim Chanos

Investment Parameters

Strategy Characteristics

  • Equity Long / Short strategy with variable exposure (+/-40% net) and 20% net long on average
  • Fundamental research process identifies short company ideas

  • Short ideas are mostly implemented via a dynamic basket of options

Fund Characteristics

  • Daily liquidity
  • Luxembourg UCITS IV regulated fund structure
  • Hedged Share classes in EUR, USD, CHF
  • Founder and Institutional
Fee Structure
Founder Share Class 0.9% Mgmt  / 20% Perf Fee
Institutional Share Class 1.20% Mgmt / 20% Perf Fee
Category Fund Exposure
Net Range +/- 40%
Max Gross 200%
Max Position 10%
Expected Volatility 10% – 18%
Correlation to S&P 500 0.05

Portfolio Characteristics

The tables below show positioning as of October 2022
Exposure (% of Equity) Month End YTD Average
Long 90.94 76.09
Short (92.46) (76.58)
Gross 183.40 152.67
Net (1.52) (0.49)
Short Portfolio (% of Equity) Net Exposure
Consumer Discretionary -20.44%
Real Estate -16.96%
Financials -15.06%
Information Technology -14.25%
Consumer Staples -7.43%
Industrials -6.23%
Health Care -3.93%
Communications -3.29%
Energy -3.20%
Utilities -1.67%
Total -92.46%

 

Performance History

Historical fund returns for the Chanos & Co Equity Long / Short Fund – Details Pending
 Historical Years 2022
Chanos & Co Equity Long / Short (USD F) TBC
YTD 2022 Oct YTD
Chanos & Co Equity Long / Short (USD F) TBD TBD

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