PATTERNS.

SPOT THE OPPORTUNITIES.

Just as spiders use complex webs, we use intricate systems to understand the investment universe.

Diversification

We offer a broad and diversified range of programmes according to the following three categories:

  • Flagship: Our flagship programmes trade futures, forwards and other derivatives across all major asset classes, such as equities, FX, commodities and fixed income. Our trend-following based programmes are designed to complement traditional and alternative portfolios, while our multi-strategy programmes aim to offer investors unconstrained access to our best models. The multi-strategy programmes have a low allocation to trend-following.
  • Sector-based: Our sector based programmes aim to provide more flexible investment solutions for our clients. The FX programme uses a variety of carry, fundamental, momentum and other technical signals; equity long/short is a momentum driven strategy and the volatility programme aims to capture volatility dynamics. A separate tail protection programme focuses on long-only volatility and uses a proprietary spike detection signal designed to quickly respond to changing market conditions. Finally, risk parity seeks to balance its exposure to equities, fixed income and inflation markets by using models which monitor volatility, correlations and momentum to dynamically scale in and out of markets as regime changes are detected.
  • Long only: We run an equity alpha capture system, designed to benefit from fundamentally-based trade ideas. The strategy is run in Europe as well as Asia ex Japan.

Programmes

Approach

Our investment programmes are based on a long-standing philosophy that markets exhibit persistent anomalies, such as price trends, mean reversion, carry or other repeatable patterns, which can be identified through careful statistical analysis. We believe many of these inefficiencies result from behavioural biases, for example risk aversion, anchoring and herding.

Our core principles centre on diversification, efficiency and risk control. In addition to our continuous efforts to expand the range of trading strategies, great effort is afforded to researching new markets in order to maximise portfolio diversification. With thousands of trading signals generated each day, we believe it is vitally important to streamline trade execution – including order netting, automating flow, maintaining a breadth of counterparties and backup trading centres which can operate 24 hours per day.

Risk management is built into all our models, and is further enhanced by our independent Risk team who use proprietary systems developed since our founding in 1987.

Engaging with our clients in a strategic partnership is our number one priority. We strive to exceed expectations through the quality of our investment solutions and by providing outstanding levels of client service and transparency.

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