A differentiated investment approach

We are focused on a dynamic allocation of capital to what we see as the best opportunities.

We combine complementary investment backgrounds and a collaborative approach to ideally access a consistent pipeline of investment opportunities across risk, economic and market cycles. We look for niche strategies with barriers to entry, emphasising specialist skills and expertise. Our approach includes strategies directed at convertible bonds and volatility-linked instruments, fundamental and event-driven opportunities across credit markets, and investments within the metals, mining and commodities sectors.

DIVERSE EXPERTISE

Convertible, Volatility & Capital Structure Modelling + Analysis​
Opportunistic Fundamental & Event-driven Credit
Capital Markets & Investment Banking
Metals & Mining​ Fundamental, Technical & Commodity Expertise​
Commodity &​ Volatility Trading​
Cross Capital Structure & Asset Class Analysis​
Credit & Convertible​ Trading​

DIFFERENTIATED RISK MANAGEMENT

Bias towards risk neutrality with asymmetric upside/downside capture
Portfolio construction
Portfolio construction designed to minimise correlation and tail risk through investment across a diversity of strategies.
Volatility & correlation
Analysis and management of fund volatility and correlation.
Stress testing
Portfolio stress-testing focused on tail-risk​.
Leverage
Liquidity and excess margin controls​.
Transparency
Transparency to investors.

Our strategies​

Global multi-disciplinary strategy​

A portfolio designed to ideally minimise correlation and tail risk utilizing a multi-disciplinary investment process. We employ a diverse range of strategies including those focused on convertible securities; opportunistic investments in credit and distressed situations; potential mis-pricings within the capital structures of mining and metals companies and underlying commodities; as well as volatility driven opportunities.

Energy transition metals strategy​

A portfolio targeted at opportunities driven by the transition of energy to renewable resources, and the resulting impact on metals and mining companies and associated commodities.

“We perceive our primary strategies to have defensible “niches”, including at times through an unconventional approach.”
Mike Humphries
Chief Investment Officer