Our Funds

Investment philosophy

The fund primarily employs convertible bonds, credit and equities when managing the Fund’s sub-strategies: Idiosyncratic Volatility, Event Driven, Relative Value Credit and Alpha Short. The strategy seeks to identify compelling long and short opportunities that may include single name convertible bonds and equities, capital structure arbitrage, and other positively asymmetric event driven opportunities. The Fund cautiously employs leverage and may use tail hedges to reduce volatility. The process is a rigorous, bottom-up, credit and capital structure focused research process built over 25 years to offer a strategy that seeks to generate an attractive absolute rate of return over a full market cycle.

Key selling points

• Advent Capital Management, founded in 1995 is recognised as a global leader in convertible bond strategies
• The firm actively manages ~$11Bn across alternative, long-only and closed-end fund strategies
• 57 employees in New York and London, including 20 seasoned investment professionals
• Renowned fundamental, bottom-up, credit and capital structure focused research process honed over 25 years and multiple market cycles
• Diminished competition and a far smaller peer group than in the pre-2009 era has led to greater market inefficiencies and a broader opportunity set for experienced specialists. Increased capital from stable long-only, long-term investors has contributed to a stronger capital base for the asset class.

Investment philosophy

The fund looks to offer non-correlated absolute returns to equity markets given its low net equity long/short approach to the under-researched, less efficient North American SMID cap market. This is achieved through a value orientated, catalyst driven approach with a specific focus on single name investments on both the long and the short book with proven alpha and returns on the short side.

Key selling points

• Specialist SMID Cap investors
• Low net exposure focused on delivering uncorrelated return stream
• Bespoke long and short investment process designed to deliver absolute returns on both sides
• Catalyst driven value bias.

Investment philosophy

A diversified short-term systematic trading strategy which is designed to deliver a return profile that is uncorrelated to equities, bonds, other risk markets and trend following CTAs, whilst exploiting periods of market volatility. The strategy provides investors with access to Crabel’s world class trading infrastructure and short-term trading experience built up over 20 years of market leading returns.

Key selling points

• World class algorithmic and execution infrastructure with co-location facilities across global futures exchanges
• Pioneer of short-term systematic trading with a track record spanning three decades
• A history of positive returns in volatile environments
• Crabel’s best thinking in the middle frequency, average 10-day hold, that is designed to be uncorrelated to Trend Following CTAs
• Flexible fee structure, encompassing flat fee or performance fee only to meet varying investor needs.

Investment philosophy

A classic medium/long term trend following CTA strategy, which has delivered an uncorrelated return profile to investors since 1974. A strategy which has been tried and tested in UCITS format from 2011, and designed to exploit market trends in more than 50 markets, spanning across all major asset classes of equities, fixed income, commodities and FX. DUNN’s research process ensures that the underlying models can easily adapt to the changing markets, focusing on risk management and reacting efficiently to market volatility.

Key selling points

• 45+ years track record
• DUNN Capital charge 0% management fee
• Top 5 UCITS trend following fund by AUM
• Dedicated to Trend Following
• 10+ years track record in UCITS
• Key research developments – designed to overcome the weaknesses of trend following, specifically reversals and non-trending environments.

Investment philosophy

The Fund uses a value-based investment philosophy to find investments globally on both the long and short sides. The philosophy is based around the concept of “transformation investing”, which involves looking for businesses undergoing a steep change in their potential, using a combination of traditional fundamental (80%) and contemporary quantitative analysis (20%), which together provide a framework that Iguana believe leads to more robust analysis and an enhanced outcome for investors. The investment objective is to generate an overall investment return through long-term capital growth as well as dividend and other income.

Key selling points

• • An investment process that combines traditional fundamental and macroeconomic analysis with contemporary quantitative techniques to identify mispriced companies undergoing business transformation
  • A global long and short opportunity set, typically investing approximately two-thirds in Europe and the UK, and one-third in the US
  • Employs a robust risk management process to minimise drawdowns. This includes diversification, setting a 30% stop-loss policy on shorts, daily review of news flow, weekly formal risk meetings, and regular predictive risk scenarios
  • A diversified portfolio, typically holding 25-35 long and 30-60 short positions, with gross exposure of 140% to 160% and low net exposure, ranging from 0 to 20%
  • Classified as Article 8 under SFDR, demonstrating its commitment to sustainable investing. The fund excludes companies with no clear trajectory of improving CO2 emissions and focuses on board diversity and compliance with UNGC principles

Please access fund documentation here.

Investment philosophy

The strategy employs a value-biased, sector agnostic and long/short approach, investing in all-cap equities predominantly within North America. The objective of the Fund is to achieve long-term capital appreciation. To achieve this, the Invenomic strategy adopts 3 core principles: 1) investing in fundamentally sound companies 2) disciplined short selling and 3) diversification – an essential risk management tool that allows the firm to access multiple opportunities across the spectrum of the market. Invenomic was founded in 2017 by Ali Motamed, who has developed and managed what has become the Invenomic strategy over the last 15 years.

Key selling points

• Investing in companies with strong fundamentals with a core focus on sustainable free cash flow generation, consistent earnings histories, and sensible capital deployment.
• Disciplined Short Selling – concentrating on concept stocks, deteriorating businesses and inflated valuations based on unsustainable events.
• Diversification: An essential risk management tool that allows the firm to access multiple opportunities across the spectrum of the market.
• Manager pedigree, ex-Boston Partners and Morningstar L/S Manager of the Year in 2014

Investment philosophy

A European-focused Global Event Driven fund that is diversified across four investment sub-strategies: Merger Arbitrage, Catalyst Driven, Relative Value and Special Situations. The fund aims to deliver a strong risk adjusted return profile that is defined by a lack of correlation to both equity markets and the broader event driven group. The Mygale approach is grounded in a repeatable investment process designed to source a plethora of upside binary catalyst opportunities.

Key selling points

• A risk controlled equity focused strategy that has the ability to deliver consistent returns defined by low volatility and limited drawdowns, resulting in high Sharpe and Sortino ratios
• A return profile that aims to be uncorrelated to equity markets with the ability to protect investor capital in difficult market environments
• A differentiated approach to event driven investing based on three distinct pillars – 1) Sceptical Research 2) Robust Position Selection and 3) Active Trading designed to capture additional alpha for every position
• Preference for trades with a clear rationale and the possibility of bump catalysts or counter bids. De-emphasise trades with complex regulatory or political hurdles due to binary downside potential

Investment Philosophy:

The strategy strives to provide positive absolute returns by employing a long /short equity investment strategy that is focused predominantly on North America. The mandate is to deliver longer-term capital appreciation for investors within a low, but variable net exposure framework of -20% to +20% (typical) that does not subject investors to the cyclicality of broader equity markets. The investment team synthesizes fundamental bottom-up with top-down macro analysis, with an emphasis on ex-ante risk assessment in a process called Alpha Roll-up that portfolio manager Steve Moore has successfully deployed over the past two decades. Portfolio construction is based on the synthesis of bottom-up and top-down information to establish the risk/reward hypothesis, using systems that leverage advanced data-analytics. A diversified short portfolio is composed of individual equities that are selected to generate alpha, and not for hedging purposes.

Key Selling Points:

• The Perspective strategy within a market neutral approach (a variable net exposure framework of -20% to +20%)
• A demonstrable absolute return capability with low correlation to equity and bonds
• A specialised ‘alpha roll up’ approach developed over 20+ years
• A blend of top-down and bottom-up considerations in the investment process as well as fundamental and quantitative processes to build a robust portfolio
• Led by Stephen Moore, Chief Investment Officer and Lead Portfolio Manager who brings 20 years of experience from reputable asset management firms, managing US equity long/short solutions

Investment Philosophy:

The strategy employs a sophisticated proprietary investment process named the ‘Alpha Roll-up’, integrating both bottom-up (individual stock analysis) and top-down (macro-economic) approaches with a focus on pro-active risk management. This process has been successfully utilised by portfolio manager Steve Moore for over two decades. Extended Alpha uses a 130/30 equity strategy that is predominantly North America-focused, seeking to outperform its benchmark, the S&P 500 Total Return Index, while maintaining a target volatility lower than the benchmark. The strategy follows a target net range of 80-110%. Portfolio construction involves the integration of bottom up and top down insights, combining quantitative data, technical analysis, macro-economic trends, fundamentals, and capital flows. The manager’s comprehensive investment framework ensures all relevant investment factors are considered in the decision-making process. The strategy employs advanced data analytics to assess risk and reward, and a diversified short book of individual equities is constructed not only to dampen volatility and protect against market drawdowns but to capitalise on alpha opportunities from a small basket of stocks ported across from the Absolute Alpha strategy.

Key Selling Points:

• The Perspective Invest strategy in a portable alpha solution which neatly packages the alpha of the investment process onto US market beta
• True active management utilising an extended exposure framework that allows up to 130% long exposure and 30% short exposure, managed within a risk framework that ensures tracking error is kept within expected ranges of a traditional long only active management approach
• A specialised ‘alpha roll up’ approach developed over 20+ years
• A blend of top-down and bottom-up considerations in the investment process as well as fundamental and quantitative processes to build a robust portfolio
• Led by Stephen Moore, Chief Investment Officer and Lead Portfolio Manager who brings 20 years of experience from reputable asset management firms, managing US equity long/short solutions