A competitive, active and systematic equity strategy which
aims to deliver higher risk-adjusted returns than the broad global equity market by targeting the
- Boutique, entrepreneurial team backed by supportive parent and strong asset management
platform. Support structure enables investment team to stay focused on quantitative
portfolio management and research.
- A culture of challenge and debate ensures a critical eye is cast over every research
initiative. We are students of the market and constantly aim to advance our understanding of
market fundamentals, new data sources and techniques, and the complexities of portfolio
management on behalf of our clients.
- Our systematic investment approach removes personal biases and uncovers blind spots. The
process is disciplined and repeatable over time and results in lower volatility than our
- Embedded risk management within our investment process fosters strong risk-adjusted
performance outcomes and well-diversified client portfolios.
- Based in Asia, we have honed our skill in some of the most inefficient and diverse markets.
The team’s constant attention to detail while working with raw and “dirty” data to extract
investment signals is key in this region and carries over into all other regions in which we
invest. This expertise lends to a higher waiting in Asia than most of our peers.
- Highly experienced and stable team with a long history of technology-driven, quantitative
- Team includes experienced quant developers, who collaborate on building and managing the
data and technology platform to support the investment and research activities of the team.
- Entrenched investor behaviors and the structure and dynamics of markets give rise to
and exploitable market inefficiencies.
- A systematic investment approach based on factors is the most effective way to capture value
from those inefficiencies.
- Markets are dynamic and continual innovation is necessary to maintain strategy performance.
- The strategy seeks to have a lower-than-market beta profile and is designed to provide
downside protection in negative equity markets, while also participating in up markets.
- We aim to achieve low volatility at the portfolio level, rather than to simply own the
lowest volatility stocks. This affords us a broader investment universe and helps achieve
better portfolio diversification.
- We improve the portfolio’s characteristics and return profile by screening out the most
expensive stocks and those with poor analyst sentiment from our investible universe by using
a systematic and quantitative approach to portfolio construction (optimisation).
- We systematically construct robust, diversified portfolios taking into account the
volatility and correlations across stocks, as well as transaction costs. The team
continually monitors portfolio, performance and risk exposures to maintain the integrity of
the investment process.
We believe that the quality of corporate governance practices, and how companies manage the
environmental and social aspects of their operations, can be material to delivering superior
longer-term shareholder value. In acknowledging the importance of ESG issues and given that they may
not have been a central focus in financial markets historically, we are committed to making the
assessment of ESG factors an explicit part of our research process and have established a dedicated
research stream for ESG. Specifically, this research stream is designed to focus on several aspects
relating to ESG:
- Attempting to identify and validate ESG alpha factors that improve the returns of our
- Attempting to identify and validate ESG risk factors that improve the risk of our strategies
- Exploring potential ESG-focused products using existing strategies we manage
- Ongoing search for new ESG and alternative datasets that may aid the above research
The team also employs a proxy voting policy to add value and protect clients’ interests as
stakeholders. We believe that quantitative portfolio managers should dedicate their time and effort
to managing portfolios and conducting investment strategy research, rather than conducting research
in connection with the voting of proxies. As such, an independent third party, Institutional
Shareholder Services, has been engaged to provide research and recommendations for when to vote