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- LO Funds (CH) - Commodity Risk Premia ex-Agri, CHF-SH S D
LO Funds (CH)
Commodity Risk Premia ex
Agri
ISINCH0195375099LO Funds (CH) - Commodity Risk Premia ex-Agri, CHF-SH S D
ISIN CH0195375099General information
| Asset Class | Alternatives | |
| Category | Commodities | |
| Strategy | Liquid Alternatives Strategies | |
| Fund base currency | USD | |
| Share Class reference currency | CHF Hedged | |
| Benchmark | Bloomberg Commodity ex-Agri & Livestock Total Return Index CHF | |
| Dividend Policy | distribution | |
| Total Assets (all classes) in mn | CHF 72.11 | 30.09.2026 |
| Assets (share class) in mn | CHF 64.55 | 30.09.2026 |
| Number of positions | 12 | 31.10.2018 |
| TER | 0.34% | 31.01.2026 |
Risk rating
Performance & Statistics
| As of |
| Share Class (Net) |
| Benchmark |
| As of |
| Share Class (Net) |
| Benchmark |
| As of |
| Share Class (Net) |
| Benchmark |
| Fund | Benchmark | |
|---|---|---|
| Total Return | 169.80% | 108.43% |
| Annualized Return | 9.53% | 6.97% |
| Annualized Volatility | 15.19% | 17.87% |
| Sharpe Ratio | 0.64 | 0.40 |
| Downside Deviation | 9.40% | 12.03% |
| Positive Months | 58.33% | 56.06% |
| Maximum Drawdown | -33.27% | -36.98% |
| Fund vs Benchmark | |
|---|---|
| Correlation | 0.903 |
| R2 | 0.816 |
| Alpha | 0.32% |
| Beta | 0.767 |
| Tracking Error | 7.73% |
| Information Ratio | 0.209 |
Key risks
The following risks may be materially relevant
but may not always be adequately captured by the synthetic risk indicator and may cause additional loss:
Counterparty risk:
When a fund is backed by a guarantee from a third party, or where its investment exposure is obtained to a material degree through one or more contracts with a counterparty, there could be a material risk that the counterparty to the transactions will fail to honor its contractual obligations. This may result in a financial loss to the Fund.
Risks linked to the use of derivatives and financial techniques:
Derivatives and other financial techniques used substantially to obtain, increase or reduce exposure to assets may be difficult to value, may generate leverage, and may not yield the anticipated results. All of this could be detrimental to fund performance.
Concentration risk:
To the extent that the fund's investments are concentrated in a particular country, market, industry, sector or asset class, the fund may be susceptible to loss due to adverse occurrences affecting that country, market, industry, sector or asset class.
Model Risk:
Models may be misspecified, badly implemented or may become inoperative when significant changes take place in the financial markets or in the organization. Such a model could unduly influence portfolio management and expose to losses.
Highlights
LO Funds (CH) - Commodities Risk Premia ex-Agri is a rule-based portfolio. Its long-only commodity strategy has been in place since October 2012. It offers exposure to commodities in the energy and metal sectors. It seeks to deliver stronger risk-adjusted returns over an economic cycle than traditional indices such as the Bloomberg Commodity ex Agri & Livestock Index. The investment approach seeks to replicate, through a Total Return Swap, the LOIM Commodities Risk Parity ex-Agri index. This index equalises the risk contribution of two sectors (energy and metal) and of individual commodities within each of these. The cost of rolling forward future contracts is optimised taking into account the shape of forward curves in commodity markets. Risk management is performed by fund managers at a portfolio level, alongside independent teams who oversee investment, counterparty and operational risks.
Breakdowns
PERFORMANCE CONTRIBUTION (IN %)
| Metals | 0.00% | 2.43% | |
| Energy | 0.00% | 2.16% |
FUND WEIGHTS (IN %)
| Metals | 0.00% | 0.65% | |
| Energy | 0.00% | 0.35% |
PERF. ATTRIBUTION (IN %) - ALLOCATION EFFECT
| Energy | 0.00% | -1.41% | |
| Metals | 0.00% | -0.33% |
PERF. ATTRIBUTION (IN %) - SELECTION EFFECT
| Energy | 0.00% | 0.65% | |
| Metals | 0.00% | 0.15% |
Managers
Legal information
General information
| Domicile | Switzerland |
| Legal Form | FCP |
| Regulatory Status | Other investment fund for traditional investments |
| Registered in | CH |
| Class launch date | 27.11.2015 |
| Close of financial year | 31 July |
| Dividend Policy | distribution |
| - Distribution date | November |
| - Last dividend paid (13.11.2025) | CHF 2.72 |
| Governing law | Governing Law Federal Act of 23 June 2006 on Collective Investment Schemes (CISA). |
Fiscal Information
| DE Investmentsteuergesetz (InvStG) | Other Funds |
| AT Investmentfondsgesetz (InvFG) | Declared Fund |
| UK Reporting Status | No |
Management Company & Agents
| Management Company | Lombard Odier Asset Management (Switzerland) SA |
| Custodian | CACEIS Bank, Montrouge, succursale de Nyon / Suisse |
| Auditor | PricewaterhouseCoopers SA |
| Portfolio valuation | CACEIS (Switzerland) SA |
Dealing
Dealing
| Subscriptions and redemptions frequency | daily |
| Subscriptions and redemptions cut-off day | T-1 |
| Subscriptions and redemptions cut-off time | 15:00 CET |
| Subscriptions and redemptions settlement date | T+2 |
| NAV valuation point | T |
| NAV calculation day | T+1 |
| NAV calculation frequency | daily |
| Minimum Investment | CHF 20 million or equivalent |
| Management Fee | 0.22% |
| Distribution Fee | 0.00% |
Security Numbers
| BLOOMBERG | LCRPCSD SW |
| ISIN | CH0195375099 |
| TELEKURS | 19537509 |
Prices
Prices over selected period
| Last | CHF | 0.00 | 110.27 | 08.10.2026 |
| First | CHF | 0.00 | 40.87 | 27.11.2015 |
| Highest | CHF | 0.00 | 113.76 | 09.09.2026 |
| Lowest | CHF | 0.00 | 35.77 | 18.03.2020 |
Documents
Annexe
Newsletter
Overall sentiment remains constructive across commodity asset classes, underpinned by strong energy leadership and selective strength in physical metals markets. Geopolitical risk and resilient physical demand supported positive commodity flows into month-end, while macro developments tempered some cyclical exposures. Positioning and supply dynamics continue to offer tactical opportunities for active allocation.
ENERGY
Energy stayed the clear outperformer, driven by acute supply disruption risk and market stress that favoured crude and refined product markets.
Brent tracked the geopolitical-led tightening and front-end scarcity through the month, supporting risk premia in oil time spreads and freight.
Heating oil and gasoil outperformed regional peers as diesel balances tightened amid disrupted trade flows.
Unleaded gasoline positioning followed underlying product-market strength.
Natural gas momentum was driven more by cross-commodity contagion from oil and security premia than by gas-specific fundamentals.
EU Allowance (EUA) emissions firmed month-on-month , adding a complementary regulatory-driven bid to the energy complex.
Metals - Industrials
The industrial metals complex remained resilient amid tight physical market signals despite dollar and rate headwinds.
Copper remained supported by concentrate tightness and strong buying even amid tariff-related headline volatility.
Aluminium exhibited mixed dynamics: significant inventory draws contrasted with record production growth that capped upside.
Nickel faced structural oversupply pressures from key producing regions and softer stainless-steel demand, though battery-related investment themes provided supportive longer-term fundamentals.
Zinc benefitted from tight concentrate markets and backwardation, supporting nearby availability even as some inventory swings moderated the rally.
Metals - Precious
Precious metals softened during the review period but structural demand drivers remained supportive.
Gold retained strong central bank and ETF interest that underpinned a defensive bid even as macro headwinds weighed.
Silver's dual role as monetary and industrial metal continued to offer structural support from industrial demand, despite higher macro sensitivity during the month.