IT'S ALL ABOUT MANAGING INVESTMENT RISK.

NO FORECASTS, NO PREDICTIONS

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RISK-BASED INVESTING

Our investment process is systematic, rather than taking macroeconomic views or making tactical investment decisions. This allows us to focus on the things we can control and efficiently manage the risks we take on. 

INVESTMENT STRATEGY

Our aim is to grow your wealth over time. We generate returns from lending, asset growth, market movements and opportunities, whilst protecting portfolios by diversifying across different types of credit and price risk. Price risk is the value of an asset changing, whereas credit risk is the borrower's ability to repay a loan.

Credit Risk

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Government

Risk: Governments can't repay their debts

Asset: Publicly listed government bonds

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Corporate

Risk: Businesses can't repay their debts

Asset: Publicly listed corporate bonds and private loans

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Bespoke

Risk: Specific projects can't repay their debts

Asset: Alternative credit, project and bridge financing

Price Risk

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Alpha

Risk: Asset prices become uncorrelated

Asset: Statistical, fundamental and structural arbitrage trading strategies

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Beta

Risk: Asset prices go down

Asset: Shares of companies (public and private), real estate and commodities

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Gamma

Risk: A specific outcome does not occur

Asset: Venture, special situations, and event driven investment strategies

EFFECTIVE EXECUTION

We relentlessly endeavour to reduce any costs and fees in the process of executing your wealth management strategy. This is known as the Total Cost of Exposure (TCE) and it includes management & performance fees, commissions, transaction costs, taxes, administration and any other direct, indirect or implied fees.

The TCE can significantly affect where you are on the risk curve and highlights any unwanted or, worse, unrewarded risk.