What style do you offer investors? Wednesday 24th January 2018

This has actually been a problem for us in fund raising. We don’t fit into a typical investment fund category. We are neither hedge fund nor mutual fund, we are neither active nor passive, and we have a long-term horizon-(five years and up).  Furthermore, we don’t target returns, we target risk. In the end, we simply offer a risk level rather than a return target.

Our process goes against every human instinct. We are constantly being asked our opinion on the future – I don’t know, and more importantly I don’t need to know the future for the fund to make money. That is a fundamental difference between many other managers and me.

The closest category of funds to us is perhaps risk parity. Their portfolios are similar to ours, but use less leverage. Their returns are lower, but they have enormous amounts of money under management.



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