fLAB fUNDS – 44, Rue de la Vallée L-2661 Luxembourg

fLAB Satellite : Dynamic and Global Flexible Relative Return Fund

Asset Allocation is the center of all our decisions. We know that the key element to produce consistent returns is building a Disciplined, Global and Flexible Asset Allocation.

We know Absolute Return Funds are quite popular, but we think most of them are quiet inefficient. They were created when interest rates were between 3% and 5%. At that time, offering Libor+200bp was usual and achievable if the Manager had the right skills.

Now at current situation, when World Risk-Free Rates are 0% or even negative, we think that offering this type of Absolute Return Funds, trying to deliver hundred times the current Risk Free Rate is not feasible.

Risk-free rates change. We cannot affirm we will achieve T-Bills + 3%, under any level of risk-free rate. We have to adapt our target dynamically. That´s why the excess return we try to obtain above T-Bills changes, as we adapt to different levels of maximum accepted volatility

We have created a new fund concept: a Relative Return Fund with a Minimum Sharpe Ratio Target. In a game of non-stable correlations, fLAB Satellite role is to try and find the best combination between assets to provide positive relative returns. In essence, fLAB Satellite target is to maximize the Sharpe Ratio.

Our minimum Sharpe Ratio target will be always 0.33
(sharpe ratio = excess return over T-Bills / Volatility)

The most important part of the Portfolio is a Fixed Income Portfolio. Then we may add an overlay of liquid assets, mainly through ETFs: Commodities (Metal, Energy, Agriculture, Precious Metals), Currency Products, Inflation Linked, High Yield, Convertible Bonds, Credit Markets, Equity Strategies, and a few more sub-assets.

We will add ETFs that invest in these type of assets, to our Fixed Income Risk Off Portfolio, only if our fLAB Satellite Indicators allow us to do so. We have to keep the Sharpe Ratio above the promised target. We use 3 type of indicators to evaluate if we are to add those ETFs:

1) In House Momentum Indicators of each asset class (ETFs/ETNs) to be added short-term (up to 6 months) or mid-term.

2) Correlation Matrix between the assets included in fLAB Satellite and the traditional ones, and also correlation and covariance between all assets.

3) Volatility Windows of all assets and the aggregated one.



Portfolio fLAB Satellite


     Fichas de los Fondos - CoreFactsheet – Satellite – EUR download pdf file

                            Fichas de los Fondos the CoreFactsheet – Satellite – USD, SGD & GBP download pdf file.


 A través del sitio web, puede suscribirse al boletín mensual, recibir información sobre eventos específicos, tener acceso a políticas internas, encontrar detalles sobre los servicios y también contactarnos. Al suscribirse a nuestro boletín mensual o contactarnos a través de nuestro sitio web, usted acepta el procesamiento de cualquier información personal que nos haya proporcionado, que puede incluir su nombre, dirección de correo electrónico, número de teléfono, edad, sexo, calificaciones profesionales, así como cualquier otro dato personal que se nos proporcione (aquí denominado "sus datos personales").

fLAB FUNDS tomará todas las precauciones razonables para garantizar que sus Datos personales se mantengan de forma confidencial y se utilicen solo para el procesamiento de su solicitud y para fines de marketing (como la distribución de nuestro Boletín e invitaciones a eventos de clientes) de conformidad con el Reglamento General de Protección de Datos. ("GDPR"). Tenga en cuenta que como sus datos personales se alojan en un servidor de terceros ubicado en Luxemburgo, los datos personales que proporcionó a través de nuestro sitio web también se alojarán en un servidor de terceros.

fLAB FUNDS tomará las medidas adecuadas para garantizar que sus datos personales no se transfieran a terceros fuera de su grupo, a menos que la ley exija lo contrario.

Bajo GDPR, tiene derecho a acceder y rectificar sus Datos personales. Si desea hacerlo, póngase en contacto con nosotros: info@flabfunds.com


 Sur ce site Web, vous pouvez-vous abonner à la lettre d'information mensuelle, être informé de certains événements, avoir accès à nos politiques internes, trouver des informations détaillées sur nos services et également nous contacter. En vous abonnant à notre newsletter ou en nous contactant via notre site Web, vous acceptez le traitement des données personnelles que vous nous avez communiquées, notamment votre nom, votre adresse électronique, votre numéro de téléphone, votre âge, votre sexe, vos qualifications professionnelles ainsi que toute autre donnée personnelle qui nous est fournie (ci-après appelée «vos données personnelles»).

fLAB FUNDS prendra toutes les mesures raisonnables pour que vos données personnelles soient traitées de manière confidentielle et utilisées uniquement pour le traitement de votre demande et à des fins de marketing (telles que la diffusion de notre Newsletter et des invitations à des événements clients) conformément au règlement général sur la protection des données. («GDPR»). Veuillez noter que vos données personnelles étant hébergées sur un serveur tiers situé au Luxembourg, les données personnelles que vous avez fournies via notre site Web seront également hébergées sur un serveur tiers.

fLAB FUNDS prendra les mesures adéquates pour que vos données personnelles ne soient pas transférées à des tiers en dehors de son groupe, sauf si la loi l'exige.

 En vertu du GDPR, vous avez le droit d'accéder à vos données personnelles et de les rectifier. Si vous le souhaitez, veuillez nous contacter à l'adresse suivante: info@flabfunds.com


 Via the Website you are able to subscribe to the monthly newsletter, be informed about specific events, have access to internal policies, find detail about services and also contact us. By subscribing to our Newsletter or contacting us via our Website, you agree to the processing of any personal data that you provided to us, which may include your name, e-mail address, telephone number, age, gender, professional qualifications as well as any other personal data provided to us (herein referred as “your personal Data”).

fLAB fUNDS will take all reasonable care to ensure that your personal Data is held confidentially and used only for the processing of your request and for marketing purposes (such as distribution of our Newsletter and invitations to client events) in accordance with the General Data Protection Regulation (“GDPR”). Please note that as your personal Data is hosted on a third party server located in Luxembourg, the personal Data you provided via our Website will also be hosted on a third party server.

fLAB fUNDS will take adequate measures to ensure that your personal Data is not transferred to any third party outside its group, unless otherwise required by law.

Under GDPR, you have the right to access and rectify your personal Data. Should you wish to do so, please contact us: info@flabfunds.com