To offer a multi-asset allocation with a worldwide exposure to a variety of asset classes: equities and equity-related
securities, debt securities of any type, commodities, cash, and money market instruments. The fund is designed to conservatively grow investors' capital while diversifying their portfolios.
Latest Meeting Note
Meeting 10 Jul 2020
A multi-strategy fund designed to conservatively grow investors’ capital while diversifying their portfolios. The central pillar of the investment philosophy is to protect client’s portfolios against drawdowns, while also being able to g... Read more
A multi-strategy fund designed to conservatively grow investors’ capital while diversifying their portfolios. The central pillar of the investment philosophy is to protect client’s portfolios against drawdowns, while also being able to generate returns with no structural reliance on any asset class, all done with less than half of the volatility of equities. The portfolio is grounded in a durable investment philosophy and repeatable process with the global credit-cycle influencing the framework for risk allocation and strategic positioning. The credit-cycle is broken down into four sections; re-leveraging, over-extended, de-leveraging and balance sheet repair, with each section providing guidance on the current risks in the market, and from there asset allocation decisions can be made. The PM’s feel this is a key element to a defensively mandated fund, as it is vital to identify risks first before capital is allocated. As moving through sections of the credit cycle often occurs over many months to years, the managers commit capital through tactical tilts to capture opportunistic returns. The combination of systematically reviewing recurring scenarios combined with major macro events generate new scenarios across all sections of the cycle in which the team can profit from. The credit-cycle analysis guides portfolio implementation with a long/short multi-asset portfolio utilised to benefit from market opportunities. The strategy is run by portfolio managers Clark Fenton (ex CEO & CIO of Agilis IM, former co-CIO of Permal) and Charles Crowson (ex Agilis) who both have extensive experience of running multi-asset portfolios, with the duo supported on the quantitative analysis and risk management front by Praveen Kanakamedala. The fund is well positioned to successfully achieve it’s target of providing diversification for client’s portfolios, with a correlation of -0.30 to the MSCI All Country Index and 0.05 to the Barclays Global Agg Bond Index across it’s track record, while being run with an annualised volatility of 3.7%.