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Multi Asset Navigator

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Fund Overview

Unigestion’s Multi Asset Navigator aims to deliver smooth returns of cash + 5% gross of fees across all market conditions over a 3-year rolling period. It seeks to achieve this by capturing the upside during “bull” markets while protecting capital during market downturns.

Our Edge

  • Enhanced diversification, delivered through a large universe of traditional and alternative risk premia, which we achieve with an allocation based on macro regimes
  • Dynamic risk management, as we believe risk is multi-dimensional and more than just realised volatility

The Fund's portfolio managers have been awarded the “A” Citywire Fund Manager Rating for strong risk-adjusted performance (Alternative UCITS – Multi Strategy category as of January 2019).

Investment Process

The fund adopts a three-step approach to navigating varying market conditions: strategic allocation, dynamic allocation and opportunistic allocation.

Our long-term, strategic allocation is anchored around strong macroeconomic analysis, which has shown that the economic cycle can be split into four macro regimes: steady growth, recession, inflation shock and market stress. In our view, the behaviour of assets can be linked to different macro conditions and we aim to build a portfolio that is balanced across these four regimes. In addition, we believe there is an increased need for new sources of returns beyond traditional assets given today’s low yield environment, therefore we have expanded the investment universe into the alternative space to provide extra diversification

We supplement this first stage with a short to mid-term dynamic allocation strategy that seeks to adapt the portfolio to ever-changing economic and market conditions. It is based on proprietary indicators, called “nowcasters”, which assess conditions in real time and systematically adjust the portfolio’s asset allocation. Rather than relying on a purely quantitative system to perfectly assess forward-looking risks, we complement this approach with qualitative analysis to determine relative value across and within asset classes.

Finally, the opportunistic allocation of the investment process aims to generate investment ideas outside the strategic and dynamic universe. These ideas should be either idiosyncratic opportunities, with low correlation to the rest of the portfolio and low directional market exposure, or absolute return in nature, with limited downside.

Navigator: Strategy Snapshot

Jerome Teiletche, Unigestion’s Head of Cross Asset Solutions, discusses why Multi Asset Navigator is well suited to the current challenging market environment and highlights the key drivers behind its investment strategy.

Strategic Allocation

Dynamic & Opportunistic Allocation

Nowcasters Qualitative Views Dynamic Risk Targeting Opportunistic Trades


Literature & Insight

Multi Asset Navigator team’s latest views on market developments as well as their monthly investment commentaries and in-depth thought leadership papers.

MiViews Q2 2019: Cautiousness: the Remedy for Complacency

Q1 2019 saw a strong rally in growth assets yet global growth continues to decelerate. Salman Baig from our multi asset team discusses what sparked the rally, the risks to valuations in Q2 and how we are positioned accordingly.


The Team behind Multi Asset Navigator

Unigestion’s team brings together a combination of skills, including experience in managing sophisticated single and multi asset portfolios, as well as strategies in alternative risk premia. This combined heritage from both traditional and alternative investments underscores the team’s ability to build a portfolio that draws from the widest spectrum of risk premia.

Jerome Teiletche

Jerome Teiletche

Head of Cross Asset Solutions
Guilhem Savry

Guilhem Savry

Head of Global Macro & Dynamic Asset Allocation
Olivier Blin

Olivier Blin

Head of Systematic Strategies
Florian Ielpo

Florian Ielpo

Head of Macro Research

Olivier Marciot

Senior Portfolio Manager

Jeremy Gatto

Portfolio Manager
Joan Lee

Joan Lee

Portfolio Manager
Eugenio Rodriguez

Eugenio Rodriguez

Portfolio Manager

Salman Baig

Portfolio Manager

Joshua Seager

Portfolio Manager

Key Fund Information

Uni-Global - Cross Asset Navigator


USD 278.2m

Launch Date

15 Dec 2014

Fund Structure


Main Share Class



As at 29.03.2019

Other share classes and currencies available.