A PARTNERSHIP APPROACH

Our only business is helping clients invest in and maximise the benefits they receive from hedge funds by making our resources available to clients in ways that fit their specific needs.

Flexible and collaborative

As a large institutional investor ourselves, our flexible approach has been developed to address and solve the same key issues our clients face when investing in hedge funds – how to increase transparency and control, decrease costs, understand hedge fund data and access differentiated, high quality hedge fund return streams.

Our primary goal is to develop our solutions capabilities and partnership approach for our clients. We work closely and collaboratively with each of our client partnerships to offer a broad array of support and services – not just constrained to fund investments. Our iterative and constantly evolving approach allows clients to make use of our advice and benefit from our scale and experience in managing alternative investments.

Our overall philosophy is based upon five areas of expertise:

 

DEEP KNOWLEDGE OF HEDGE FUNDS

We understand the complexities of the extensive universe of hedge funds both as a hedge fund investor and as a researcher. Our 25 years’ experience combined with our thorough and detailed investment and operational risk due diligence ensures the continued identification of “best of breed” hedge funds for our investors to access.

 

PARTNERSHIP APPROACH WITH CLIENTS

No two investors or solutions are the same. We work closely with our clients to select and examine the combination of hedge funds which aim to best complement their existing allocations to other asset classes and which meet their objectives for their hedge fund portfolio.

 

DETAILED UNDERSTANDING OF RISKS

As a hedge fund investor, we have a detailed and thorough understanding of all risks at both an investment and operational perspective. Each of our approved managers is subjected to a stringent due diligence process while demonstrating an ability to provide an investment return in line with their own investment process and risk levels employed.

 

FULLY TRANSPARENT AT EVERY LEVEL

We are wholly transparent in how we work, from each step of the investment process to the use of managed accounts to allow investors to truly understand their positions and how they combine within their portfolio. We actively monitor each hedge fund manager’s characteristics ensuring that any changes over time are fully understood and accepted.

 

COST CONTAINMENT

Wherever possible, we use our scale and experience as an established hedge fund investor to achieve better terms and structures with managers. A dedicated team is tasked with negotiating with our underlying hedge fund managers to ensure our investors receive the best possible terms at every structural level of their chosen hedge fund manager.

Our investment process

 

MANAGER RESEARCH

We devote extensive global resources to sourcing, researching, negotiating with and approving hedge fund managers that we have investment conviction in.

A key part of our approach is ensuring we cover the entire investable hedge fund universe globally, including managers who are harder to identify due to their size, location or recent entry to the industry. Each member of our investment team is a specialist in their sector and based in key financial centres, giving them an understanding of local markets.

Although we invest across all hedge fund manager sizes, we particularly focus on smaller managers whom we believe have the nimbleness to pursue opportunities not available to large managers, and who are more flexible on fees, terms and structures.

 

RISK MANAGEMENT

A key distinguishing aspect throughout our investment and implementation processes is our continued focus on risk management. Before any hedge fund manager is approved for investment, we perform extensive operational and investment due diligence on each proposed manager. Our risk management function is supported by a comprehensive and sophisticated set of systems to ensure the ongoing and detailed monitoring of all managers.

If we do not fully understand the risks associated with that manager and do not have the investment conviction to invest with that manager ourselves, we will not recommend them to our clients. We strongly believe that good risk management ultimately leads to superior performance relative to our peers.

 

PORTFOLIO CONSTRUCTION

Our portfolio construction process is largely driven by our detailed understanding of hedge fund managers, their return characteristics and our forward looking view of the opportunity set for each manager and hedge fund strategy. The intimate knowledge of managers, their strategies and their behavior in different market environments is the key to building a successful portfolio.

When building portfolios for our clients, we believe it is important to follow a partnership approach with our clients. Our 19 years of experience in delivering successful portfolios has demonstrated that the portfolio construction process is dynamic, continuous and on-going, and we seek to closely involve our clients at all stages of the process.

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