Investment strategy

The investment strategy is predicated on the identification and analysis of macro thematic trends, imbalances and inflection points in the risk premium relating to the main asset classes.

The investment thesis is resolutely top-down based on macro thematic trends. Our top-down process narrows down to investment opportunities in equity, fixed income, forex and commodity product markets through QUANTAMENTAL analysis.

Quantamental analysis is the expression of fundamental analysis, through quantitative methods, to try and remove the emotions out of the investment research process.

Our approach to investments can be characterised as the systematic implementation of traditional analyst’s methods. Our systematic approach provides reason, clarity and discipline to our process. The objective of our investment process is to try and identify the risk factors that are being rewarded in a certain macro environment.

The opportunity set is divided into different risks, such that the risk factors correctly segment different parts of the opportunity set.

“The essence of investment management is the management of risks, not the management of returns” – Benjamin Graham.

Our investment process is underpinned through the allocation of risk and not capital. Our aim is to balance market risk across investment strategies; our idea of risk is not informed by an asset class, but by the risk inherent in an investment strategy.