# Syz AM (CH) Liquidity Mgmt-USD
Share class Dc / Currency USD	28.02.2023	Marketing material

##  Investment focus and suitability	
The fund invests mainly in debt securities and debt rights denominated in USD as well as short-term liquid investments of issuers worldwide. Active investment selection is based on a traditional credit analysis and an ESG analysis.
| Investment risk | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- | --- |

Lower risk	Higher risk

##  Performance in %	
Base data		 NAV per share	USD 105.18
Total fund assets	USD 135.67 m
Base currency	USD
Share class	Dc (accumulation)
Bloomberg Ticker	SYZMMUB SW Security code ISIN	CH0345888363 Security code CH34588836
Investment manager   SYZ Asset Management AG
10	
Fund management
company
GAM Investment Management (Switzerland) Ltd.
7.5
5
2.5
0
2017	2018	2019	2020	2021	2022	2023
Perf. DC-shares	Perf. DC-shares since launch
Custodian	State Street Bank International GmbH, München; Zweigniederlassung, Zürich
Legal structure	FCP under the law of Switzerland Launch date03.08.2009
Domicile	Switzerland
Benchmark	FTSE USD Eurodeposit 3 Months
Last distribution	USD 1.75810408 (Pay Date: 13.12.22) Registered in	CH
| in % | YTD | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y  since |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  | p.a. | p.a. | p.a. launch |


##  Largest positions	
|  | p.a. |  | Security	Interest rate |  | % |
| --- | --- | --- | --- | --- | --- |
| Fund | 0.78 | 0.30 | 1.15 | 1.78 | 1.97 | 0.87 | 1.50 | n.a.	1.45 |  | BANQUE FEDERATIVE DU CREDIT  0.000% | USD | 4.10 |
| BM | 0.76 | 0.36 | 1.14 | 1.95 | 2.57 | 1.07 | 1.56 | n.a.	1.47 |  | MU |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  | QNBK Float 03/12/24	6.053% | USD | 3.74 |

Rolling perf.
28.02.2022
- 28.02.2023
28.02.2021
- 28.02.2022
29.02.2020
- 28.02.2021
28.02.2019
- 29.02.2020
28.02.2018
| TOYOTA Float 03/22/24 | 0.918% | USD | 3.73 |
| --- | --- | --- | --- |
| BNS Float 09/15/23 | 0.599% | USD | 3.72 |
| LLOYDS 4.05 08/16/23 | 4.050% | USD | 3.67 |

- 28.02.2019
Fund	1.97	-0.12	0.77	2.512.38
|  | QATAR NATIONAL BANK SAQ 05/23 | 0.000% | USD | 3.65 |
| --- | --- | --- | --- | --- |
| Benchmark: Until 02.11.2014 ICE LIBID USD 3 Months | CI Float 07/15/23 | 5.688% | USD | 3.56 |
| Benchmark: Until 30.09.2021 ICE BofA LIBiD USD 3 Months Change of name as of 27.09.2019 (formerly Syz AM (CH) 1 - Money Market Fund USD) | EIBKOR 3.665 07/20/23 | 3.665% | USD | 3.44 |

BM	2.57	0.06	0.60	2.382.23
Change of name as of 30.09.2015 (formerly RBC Diversified Fund - Money Market Fund USD)
Past performance is not an indicator of current or future trends. The performance values refer to the net asset value and are calculated without the commission and costs incurred on issue, redemption or swapping (e.g. transaction and custody costs of the investor). The indications are based on figures denominated in USD. If this currency is different from the currency of the country in which the investor is resident, the return may increase or decrease as a result of currency fluctuations. Indices cannot be purchased directly.

##  Statistics	
Volatility fund/benchmark (%)	0.78 / 0.431 Tracking Error (%)0.611
Information ratio/Sharpe ratio	-0.34 / 0.041 Correlation0.631
Jensen Alpha/Beta	-0.24 / 1.141
Average maturity in years	0.49 Modified Duration0.21
Yield to Maturity (nominal) (%)5.59
| AXP Float 08/03/23 | 5.593% | USD | 3.41 |
| --- | --- | --- | --- |
| BAC Float 03/05/24 | 5.513% | USD | 3.21 |
| Total |  |  | 36.23 |


##  Structure by term to maturity in months	
0 - 3 months
6 - 12 months
3 - 6 months
12 - 18 months
Liquidity
1 
computed over 3 years
Sources: Bloomberg, Rimes, GAM. Please note the important legal information at the end of this document. Before subscribing, read the prospectus and the KIID which are available at www.funds.gam.com or from your distributor.
The mentioned financial instruments are provided for illustrative purposes only and shall not be considered as a direct offering, investment recommendation or investment advice. Allocations and holdings are subject to change.

##  Structure by rating	
AAA AA A BBB N.R.
Liquidity
The rating breakdown is based on a GAM composite rating calculated on a conservative basis.
Syz AM (CH) - USD

Translation (ENIT, 2023-02-28):
# Syz AM (CH) Liquidity Mgmt-USD
Classe azioni Dc / Moneta USD	28.02.2023	Materiale di marketing

##  Politica di investimento e tipologia di investitore	
Il fondo investe principalmente in titoli e diritti di credito denominati in USD e in investimenti liquidi a breve termine di emittenti a livello mondiale. La selezione attiva di titoli si basa sia su un'analisi tradizionale di credito sia su un'analisi ESG.
| Rischio del fondo | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- | --- |

Rischio più basso	Rischio più elevato

##  Evoluzione del valore in %	
Dati di base		 Valore netto	USD 105.18
Patrimonio del fondo	USD 135.67 Mln.
Valuta di riferimento	USD
Classe azioni	Dc (accumulazione)
Bloomberg Ticker	SYZMMUB SW
Codice ISIN	CH0345888363
Codice di valor CH34588836
Gestore degli
10	
investimenti
SYZ Asset Management AG
7.5
5
2.5
0
2017	2018	2019	2020	2021	2022	2023
Rend. quote DC	Rend. quote DC dall'inizio
Società di gestione	GAM Investment Management
(Switzerland) Ltd.
Banca depositaria	State Street Bank International GmbH,
München; Zweigniederlassung, Zürich
Struttura legale	FCP di diritto svizzero
Fondo attivo dal03.08.2009
Domicilio	Svizzera
| in % al | YTD | 1M | 3M | 6M | 1A | 3A annuo | 5A annuo | 10A annuo | dall' inizio p.a. |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Fondo | 0.78 | 0.30 | 1.15 | 1.78 | 1.97 | 0.87 | 1.50 | n.a. | 1.45 |
| BM | 0.76 | 0.36 | 1.14 | 1.95 | 2.57 | 1.07 | 1.56 | n.a. | 1.47 |

Benchmark	FTSE USD Eurodeposit 3 Months Ultimi dividendi	USD 1.75810408 (Pay Date: 13.12.22) Registrato in	CH

##  Le maggiori posizioni	
Titolo	Tasso d'inter.	%
BANQUE FEDERATIVE DU CREDIT MU
0.000%	USD	4.10
| Perf. | 28.02.2022 | 28.02.2021 | 29.02.2020 | 28.02.2019 | 28.02.2018 | QNBK Float 03/12/24 | 6.053% | USD | 3.74 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| rolling | - 28.02.2023 | - 28.02.2022 | - 28.02.2021 | - 29.02.2020 | - 28.02.2019 | TOYOTA Float 03/22/24 | 0.918% | USD | 3.73 |
| Fondo | 1.97 | -0.12 | 0.77 | 2.51 | 2.38 | BNS Float 09/15/23 | 0.599% | USD | 3.72 |

BM	2.57	0.06	0.60	2.382.23
LLOYDS 4.05 08/16/23	4.050%	USD	3.67
| Benchmark: Fino al 02.11.2014 ICE LIBID USD 3 Months | QATAR NATIONAL BANK SAQ 05/23 0.000% | USD | 3.65 |
| --- | --- | --- | --- |
| Benchmark: Fino al 30.09.2021 ICE BofA LIBiD USD 3 Months Cambio di nome dal 27.09.2019 | CI Float 07/15/23 | 5.688% | USD | 3.56 |
| (precedentemente Syz AM (CH) 1 - Money Market Fund USD) Cambio di nome dal 30.09.2015 (precedentemente RBC Diversified Fund - Money Market Fund | EIBKOR 3.665 07/20/23 | 3.665% | USD | 3.44 |

USD)
I rendimenti passati non costituiscono un indicatore dei trend attuali o futuri. I valori di performance si riferiscono al valore del patrimonio netto e sono calcolati senza tenere conto degli oneri fiscali delle commissioni e dei costi di sottoscrizione, rimborso o conversione (ad es. i costi di transazione e custodia dell'investitore). Le indicazioni si basano su cifre denominate in USD. Se tale valuta è diversa da quella del paese in cui risiede l'investitore, il rendimento potrebbe essere soggetto a variazioni, in positivo o in negativo, dovute alle fluttuazioni valutarie. Non è possibile acquistare direttamente gli indici.
Dati statistici						 Volatilità fondo/benchmark (%)		0.78 / 0.431  Tracking error (%)	0.611 Information ratio/Sharpe ratio	-0.34 / 0.041  Correlazione	0.631 Jensen Alpha/Beta	-0.24 / 1.141 Scadenza residua in anni			0.49  Duration modificata		0.21 Rend. alla scad. (nominale) (%)			5.59 
1 
calcolato su base triennale
Fonti: Bloomberg, Rimes, GAM. Vi preghiamo di tenere conto delle disposizioni importanti di carattere legale riportate alla fine di questo documento. Prima dell'adesione leggere il Prospetto e il KIID, disponibili al sito: www.funds.gam.com e presso i soggetti collocatori.
Gli strumenti finanziari menzionati sono proposti solo a titolo illustrativo e non devono essere considerati come un’offerta diretta così come una raccomandazione o consulenza di investimento. Le allocazioni e i titoli sono soggetti a cambiamenti.
AXP Float 08/03/23	5.593%	USD	3.41
BAC Float 03/05/24	5.513%	USD	3.21
Totale36.23

##  Struttura per durata residua in mesi	
0 - 3 mesi
6 - 12 mesi
3 - 6 mesi
12 - 18 mesi
Liquidità

##  Struttura per rating	
AAA AA A BBB N.R.
Liquidità
Il rating breakdown è dato dal rating composito di GAM calcolato su base conservativa.
Syz AM (CH) - USD