Beyond traditional equity. The multi-asset strategy.
A dynamic portfolio framework where capital transitions from baseline reserves to high-yield synthetic instruments. Drag the timeline to isolate a risk layer.
03Structured notes and options overlays. Defined outcomes, priced in advance, sized so the defined part is the whole part.
Five layers, one balance sheet.
Reserves are sized first, from the worst the layers above can do together. The two highest layers never exceed a fifth of the book — whatever they are paying that quarter.
| Layer | Instruments | Target | Vol | Weight |
|---|---|---|---|---|
| 4.2% | 1.1% | 34% | |
| 7.6% | 4.3% | 26% | |
| 14.2% | 9.8% | 22% | |
| 19.5% | 16.4% | 12% | |
| 26.0% | 24.7% | 6% |
Twenty-four months, five layers, one axis.
Indexed to 100 at first close. The selected layer is drawn in full; the other four stay on the page so the spread between them is the point, not any single line.
Transition, never rotate.
Capital moves one layer at a time and only on a rule. Between Yield and Synthetic there is no view being expressed — only a spread.
Size the base
Reserves are set first, from the largest drawdown the upper layers can produce together. Everything else is what is left.
Transition, do not rotate
Capital moves one layer at a time and only on a rule. There is no view being expressed between Yield and Synthetic — only a spread.
Cap the tail
The two highest layers together never exceed a fifth of the book, whatever they are paying.
The terms, then the conversation.
Monthly dealing, a soft twelve-month lock, and a quarterly letter that says what the layers did and why the weights moved.
| Vehicle | Open-ended, monthly dealing |
|---|---|
| Minimum | $250,000 |
| Lock-up | 12 months, soft |
| Management | 1.25% / 10% over cash |
| Redemption | 45 days' notice |
| Domicile | Luxembourg RAIF |
| Reporting | Monthly NAV, quarterly letter |
Ask for the deck, the letters, and the drawdown table.
- Committed
- $4.1B
- First close
- 2019
- Risk layers
- 05
- Live positions
- 148