# Liquid alternatives
| Asset class | strategic | Allocation current | Q2 | Absolute YTD | return* 2022 |
| --- | --- | --- | --- | --- | --- |
| Systematic strategies | 8.0% | 8.0% | 4.4% | 3.9% | 9.5% |
| Discretionary strategies | 9.0% | 8.8% | 0.3% | 1.5% | 3.2% |
| **Liquid alternatives | 17.0% | 16.8% | 2.2% | 2.7% | 6.0% |

Discretionary strategies – Investment styles
0%	20%	40%	60%	80%
Systematic
Performance relative to equities
31/12/1998 – 30/06/2023
positive equity months	179
0.00%  0.75%  1.50%  2.25%  3.00%  3.75%
Ø Equity	3.4%
Equity long/short
55.0%
Ø Liquid alternatives
Event Driven
negative equity months	115
-5%	-4%	-3%	-2%	-1%	0%
Relative Value
Ø Equity
Ø Liquid alternatives
-3.8%
| Top external mandates Name | Investment style | Weight |
| --- | --- | --- |
| Tresidor | Event driven | 4.7% |
| Zebedee | Equity long/short | 4.5% |
| Arrowstreet | Systematic | 4.4% |
| Greenvale | Equity long/short | 4.2% |
| Pentwater | Event driven | 4.1% |
| Florin Court | Systematic | 3.9% |
| Linden | Relative value | 3.4% |
| GoldenTree | Event driven | 3.3% |
| Perbak | Equity long/short | 3.3% |
| Seligman | Equity long/short | 3.2% |

Source for all data and charts (if not indicated otherwise): LGT
* The portfolio return is shown in US dollars. The majority of the currency risk is hedged. The asset class returns are shown taking into account the strategic currency hedges.
** The return for the liquid alternatives portfolio includes the performance of the dynamic protection strategy up to and including 31 December 2020. As from 1 January 2021, this is no longer the case.

Translation (ENDE, 2023-06-30):
# Liquide Alternative Anlagen
Aufteilung	Absolute Rendite*
| Anlageklasse | strategisch | aktuell | Q2 | YTD | 2022 |
| --- | --- | --- | --- | --- | --- |
| Systematische Strategien | 8.0% | 8.0% | 4.4% | 3.9% | 9.5% |
| Diskretionäre Strategien | 9.0% | 8.8% | 0.3% | 1.5% | 3.2% |
| **Liquide Alternative Anlagen | 17.0% | 16.8% | 2.2% | 2.7% | 6.0% |

Diskretionäre Strategien – Anlagestile
0%	20%	40%	60%	80%
Systematic
Renditeentwicklung relativ zu Aktien
31.12.1998 – 30.06.2023
positive Aktienmonate	179
0.00%  0.75%  1.50%  2.25%  3.00%  3.75%
Ø Aktien	3.4%
Equity long/short
55.0%
Ø Liquide Alternative
Event Driven
negative Aktienmonate	115
-5%	-4%	-3%	-2%	-1%	0%
Relative Value
Ø Aktien
Ø Liquide Alternative
-3.8%
| Die grössten externen Mandate Name | Anlagestil | Gewicht |
| --- | --- | --- |
| Tresidor | Event Driven | 4.7% |
| Zebedee | Equity long/short | 4.5% |
| Arrowstreet | Systematic | 4.4% |
| Greenvale | Equity long/short | 4.2% |
| Pentwater | Event Driven | 4.1% |
| Florin Court | Systematic | 3.9% |
| Linden | Relative Value | 3.4% |
| GoldenTree | Event Driven | 3.3% |
| Perbak | Equity long/short | 3.3% |
| Seligman | Equity long/short | 3.2% |

Quelle für sämtliche Daten und Grafiken (sofern nicht anders vermerkt): LGT
* Die Portfoliorendite wird in US-Dollar gezeigt. Das Währungsrisiko ist mehrheitlich abgesichert. Die Renditen der Anlageklassen werden unter Berücksichtigung der strategischen Währungsabsiche- rungen dargestellt.
** Die Rendite für das Liquid Alternatives Portfolio beinhaltet die Wertentwicklung der Dynamic Protection Strategie bis und mit 31. Dezember 2020. Ab 1. Januar 2021 ist dies nicht mehr der Fall.