MORE PREDICTABLE OUTCOMES

MORE PREDICTABLE OUTCOMES

Investment Approach and Philosophy

Our investment processes and philosophy is based on the central concept that markets are dynamic, and different investment styles work in different market environments. In our view, markets are neither completely efficient nor completely inefficient, and a disciplined, rules-based approach is essential to achieving long-term success in investment and risk management. We have also developed this disciplined approach when implementing our proprietary and discretionary trading strategies. We apply these rules to the fundamental aspects or parts of our trading strategies as well as our global multi-factor multi-asset class investment processes applying a heavy dose of risk management to our approach.

Our investment approach in the security markets leverages the key investment style factors of value, earnings and price momentum, liquidity, quality and other attributes which drive a company’s overall valuation to extract risk and volatility premia across asset classes. Value investing is buying securities we believe to be undervalued by the market and selling securities that we believe are overvalued by the market. Momentum investing is buying securities whose stock price is increasing and selling securities whose stock price is declining relative to the market. In addition to value and momentum, our approach leverages other style factors such as profitability, quality and sentiment. Portfolio construction which incorporates risk management is key to delivering superior risk-adjusted returns.

Our goal is to extract risk premiums from the market, to capture the expectation of a statistical distribution reliably over time, manage the tails of that distribution, employing a solid risk management process and managing positon size. We do not fall into the trap of ”black box ” investing (mathematical models that generate trades with limited transparency). We employ systematic tools to implement a fundamental ­ based investment process. In addition, we believe that a large set of small trades, coupled with structured risk controls, can offer a more attractive risk-adjusted return than a small set of large trades.

Investment Approach and Philosophy

Our investment processes and philosophy is based on the central concept that markets are dynamic, and different investment styles work in different market environments. In our view, markets are neither completely efficient nor completely inefficient, and a disciplined, rules-based approach is essential to achieving long-term success in investment and risk management. We have also developed this disciplined approach when implementing our proprietary and discretionary trading strategies. We apply these rules to the fundamental aspects or parts of our trading strategies as well as our global multi-factor multi-asset class investment processes applying a heavy dose of risk management to our approach.

Our investment approach in the security markets leverages the key investment style factors of value, earnings and price momentum, liquidity, quality and other attributes which drive a company’s overall valuation to extract risk and volatility premia across asset classes. Value investing is buying securities we believe to be undervalued by the market and selling securities that we believe are overvalued by the market. Momentum investing is buying securities whose stock price is increasing and selling securities whose stock price is declining relative to the market. In addition to value and momentum, our approach leverages other style factors such as profitability, quality and sentiment. Portfolio construction which incorporates risk management is key to delivering superior risk-adjusted returns.

Our goal is to extract risk premiums from the market, to capture the expectation of a statistical distribution reliably over time, manage the tails of that distribution, employing a solid risk management process and managing positon size. We do not fall into the trap of ”black box ” investing (mathematical models that generate trades with limited transparency). We employ systematic tools to implement a fundamental ­ based investment process. In addition, we believe that a large set of small trades, coupled with structured risk controls, can offer a more attractive risk-adjusted return than a small set of large trades.