We invest in the companies of tomorrow, today

Structuring trades with inherent asymmetric P&L potential allows us to better understand the probabilities of different outcomes as priced by the markets and create attractive risk-reward outcomes. We create asymmetry using options and option-like trading structures, as well as through the disciplined use of stop losses.Views on optimal trade structuring are discussed and debated alongside market views. Team members are encouraged to leverage each other’s particular skills in trade structuring across various markets in order to enhance outcomes.

Art & Science - Risk management is a combination of art and science that is managed both quantitatively and qualitatively. We apply a rigorous, and often forensic, focus on detail.

Not Simply a Control Function - Risk does not act in a silo and is instead integral to each portfolio manager's investment process and portfolio construction. Each portfolio manager has a bespoke risk mandate and a designated risk manager, assigned to work in close collaboration.
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Focus on Stress Tests & Scenario Analysis - Our proprietary bank of stress tests have been developed over almost two decades and is continuously updated. These tools allow us to examine tail risks and mitigate potential loss scenarios.