The Bridge Between Protection and Growth®

Strategies brought to life by a unique synergy between human experience, machine learning, thoughtful design and precise security selection

Diverse Solutions Unified by Key Principles

Offering a strong balance between discretionary input and systematic execution, our platform addresses a wide range of needs and objectives in portfolio management. While our strategies are unique in form and function, each offers multi-layered risk management, factor-driven security selection and rules-based execution.   Choose below to review our strategies by asset class or solution.

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Alternatives
Equity
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Alpha Select
Risk Management

International Select

Provides concentrated exposure to tactical “best ideas” in international equity, retaining global flexibility.

International Select

International Select (IS) provides concentrated exposure to tactical “best ideas” in international equity, retaining global flexibility in effort to minimize volatility and protect capital in changing market conditions.

Objective: The strategy seeks to outperform over a full market cycle by pursuing international sources of momentum on the basis of style, sector, region and volatility. 

Primary asset class: International equity

Tactical ranges:

  • Equity: 0% – 100%
    • Developed international: 0% – 100%
    • Emerging markets: 0% -100%
    • Core global & global sectors: 0% -50%

Target allocation: 100% international equity

Portfolio construction ideas:

  • Rules-based macro-overlay to complement existing strategic fund allocations in global or ex-US portfolio
  • Core ex-US component of global equity portfolio in combination with strategic US holdings

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Sector Select

Tactical, rules-based strategy that identifies and allocates to momentum leaders among primary sectors of the S&P 500

Sector Select

Sector Select (SS) is a tactical, rules-based strategy that identifies and allocates to momentum leaders among primary sectors of the S&P 500. By eliminating exposure to the bottom ranked sectors, the multifactor model aims for minimized risk while remaining fully invested.

Objective: The strategy aims to provide concentrated exposure to the most compelling, momentum-driven sector stories in US large cap equity.

Primary asset class: US large cap equity

Tactical ranges:

  • US Equity: 0% -100%
    • Sector A: 0% – 48%
    • Sector B: 0% – 14%
    • Sector C: 0% – 12%
    • Sector D: 0% – 12%
    • Sector E: 0% – 12% 

Target allocation: 100% US equity sectors

Portfolio construction ideas:

  • Alternative to pure value holdings
  • US equity component of listed alternatives portfolio
  • Completion portfolio for core equity: equal-weighted sector exposure providing style and size diversification relative to cap-weighted

Options

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Resources and Materials

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Factor Select

Precisely target drivers of US equity market upside

Factor Select

Factor Select (FS) provides concentrated exposure through strategic beta to factor leadership within US equity. The strategy uses quantitative models to examine patterns in investor behavior that may induce a “regime shift” or a change in market sentiment at a given point in the economic or factor cycle. Objective: Over a full market cycle, outperform the S&P 500 by pursuing growth through factor-based approach Primary asset class: US equity Tactical ranges: 

  • Momentum, 0%-100%
  • Growth, 0%-100%
  • Value, 0%-100%
  • Low-Volatility, 0%-100%
  • Defensive sector combinations, 0%-100%

Portfolio construction ideas:

  • Use as satellite for strategic/ core US equity portfolio – return enhancement in constructive markets
  • Position as volatility dampener in aggressive long-only US equity portfolio
  • Introduce as completion component for fundamental stock portfolios

Options

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Separately Managed Account (SMA)

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Credit Select Risk-Managed

Manage credit and duration risk to harvest income

Credit Select Risk-Managed

Credit Select Risk-Managed (CSRM) is a dynamic approach to multi-sector fixed income, built to enhance total return and manage duration over a full market cycle.

Objective: Increase total return over a full market cycle through opportunistic yield enhancement in constructive credit markets; dynamic duration management across markets; rapid de-risking in negative credit conditions; tail-risk hedge in extreme environments

Primary asset class: High yield debt

Tactical ranges:

  • High yield: 0% to 100%
  • Investment-grade fixed income & cash: 0% – 100%
    • “Calibrate” duration
    • Ultra-short to intermediate-term & floating-rate

Target allocation: 95% high yield, 5% investment-grade fixed income & cash

Portfolio construction ideas:

  • Enhance total return in core fixed income portfolio: manage duration and  opportunistically shore up yield without strategic commitment to higher-risk credit segments
  • Use as satellite allocation to individual bond portfolio: liquid complement to laddered corporates, for example
  • Complement strategic high yield allocations: provide tactical asset class “hedge” alongside buy-and-hold high yield exposure
  • Consider as an allocation within a liquid alternatives portfolio: lower-volatility complement to long-short equity holdings

Options

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Investor Class Mutual Fund

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Institutional Class Mutual Fund

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Collective Investment Trust (CIT)

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Separately Managed Account (SMA)

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Global Allocation Risk-Managed

Balance exposure & manage risk across unconstrained global asset class components

Global Allocation Risk-Managed

Global Allocation Risk-Managed (GARM) was built to serve as a comprehensive core global asset allocation solution; it deploys capital tactically between and within various sub-strategies, each of which rely on independent, multi-layered risk management frameworks. GARM’s overall goal is to align capital with select risk-asset momentum in constructive markets, manage drawdowns amid normalized market volatility, and de-risk rapidly when market deterioration is abrupt and severe.

Objective: Capture long-term upside in equity & high-income asset classes while managing drawdowns and maintaining long-term average allocation comparable to 60/40 portfolio

Primary asset class: Global equity & global income assets

Tactical ranges:

  • Equity, 0%-65%
    • US: 0%-45%
      • Large cap: 0%-25%
      • Mid cap: 0%-10%
      • Small cap: 0%-10%
    • Core global & global sectors: 0%-30%
    • Developed international: 0%-10%
    • Emerging markets: 0%-20%
  •  Fixed income, 35%-100%
    • High yield & specialty income: 0%-35%
    • Investment-grade fixed income & cash: 0%-100%

Target allocation: 65% equity, 35% fixed income

Multi-layered risk management:

  • Within asset classes
    • Rotations between size, style, geography: for example, can eliminate emerging markets in favor of increased US exposure
    • Security selection/ strategic beta: for example, can hold specific global sectors rather than broad-based global or minimum-volatility rather than market-weight exposure
  • Between asset classes
    • Top-down allocation is a function of independent, rules-based “calls” made by underlying sub-models (i.e., sub-models’ exposure rolls up to overall allocation)
    • Strategy can de-risk completely – range of 0%-100% defensive fixed income & cash

Portfolio construction ideas:

  • Use as primary allocation/ core of globally diversified balanced portfolio – complement with individual US stocks & bonds held to maturity
  • Incorporate as rules-based macro overlay to complement existing strategic fund allocations
  • Position as liquid global macro component of alternatives allocation, especially alongside fundamental strategies

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Diversified Income Risk-Managed

Navigate income asset universe to enhance total return while managing drawdown

Diversified Income Risk-Managed

Diversified Income Risk-Managed (DIRM) is a “go-anywhere” income strategy that aims to enhance total return through non-traditional income sources while maintaining a balanced risk profile and managing drawdown relative to long-only aggressive income strategies.

Objective: Provide robust total return through non-traditional income sources including junk bonds, infrastructure, MLPs, listed private equity, convertibles & preferreds

Primary asset class: Non-traditional income

Tactical ranges:

  • 0%-80%: Developed ex-US & EM sovereign bonds
  • 0%-40%: High yield
  • 0%-40%: MLPs
  • 0%-40%: Income equities
  • 0%-20%: Specialty sectors
  • 0%-20%: Precious metals
  • 0%-100%: Duration-managed core US bonds
  • 0%-100%: Cash

Target allocation: 100% in non-traditional income assets

Portfolio construction ideas:

  • Introduce as “income macro” allocation in aggressive income portfolio
  • Use as total return satellite for strategic core fixed income portfolio
  • Reduce max drawdown profile of strategic high yield, MLP or special equity allocation

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Listed Alternatives

Allocate to alternatives in a liquid, flexible format

Listed Alternatives

Listed Alternatives (LALTS) is a rules-based solution designed to offer tactical, flexible exposure to a broad universe of liquid alternatives strategies. The strategy attempts to replicate the capital protection and risk-adjusted return characteristics of hedge funds and other strategies comprising “alternatives” space, but aims for improved liquidity, transparency and cost-efficiency by leveraging publicly traded instruments.

Objective: Deliver flexible and liquid exposure to a range of alternative assets

Primary asset class: Listed alternative funds

Tactical ranges: 

  • Growth & diversification-focused alternatives, 42%-100%
    • Non-traditional equity, 9%-32%
    • Non-traditional fixed income, 28%-53%
    • Hedged multi-strategy, 5%-15%
  • Capital preservation assets, 0%-48%

Target allocation: 100% alternatives

Portfolio Construction Ideas:

  • Substitute flexible, cost-efficient and liquid exposure for non-listed alternatives
  • Complement private portfolio with liquid strategies
  • Use cyclically or as a transition tool when equity & fixed income rebalance appears untimely due to market conditions

Options

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Separately Managed Account (SMA)

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