Alternative investments are our speciality. Capturing economically sound, cost-efficient risk premia. Institutional portfolios reliably and sensibly diversified.
Insurance Linked Securities (ILS)
Returns
Attractive absolute and risk-adjusted premia
Relevant characteristics
Liquid and illiquid instruments, annual premium negotiation, very little interest rate and duration risk
Diversification
Fundamentally independent insurance-linked risks, broadly diversified across events and regions
Implementation
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Multi-manager solutions consisting of specialised and carefully evaluated external investment products.
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Main focus on natural catastrophes, complemented with man-made and life ILS risks, if desired.
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Combination of complementary ILS strategies to optimise return potential and consciously manage risk diversification across insurance events.
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Individually developed client solutions taking into consideration specific requirements for liquidity, risk budget and operational execution.
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Ongoing monitoring and comprehensive, transparent reporting for all products, as well as for consolidated client-specific ILS portfolios.
Objective
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The pitfalls of ILS investing lie in the practical implementation. We capture the attractive premia for well-compensated insurance risks for clients. Cost-efficient and tailor-made.
Private Debt and Alternative Credit
Returns
Additional risk premia for illiquidity, origination, structuring, complexity
Relevant characteristics
Liquid and illiquid instruments, little interest rate and duration risk, high coupons
Diversification
Credit risk premia outside of traditional bonds, broadly diversified across issuers and markets
Objective
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Private debt encompasses a variety of markets and niches. We dynamically identify the attractive segments and thus form diversified credit portfolios. Transparent and tailor-made.
Implementation
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Multi-manager solutions consisting of specialised and carefully evaluated external managers and products, both open- and closed-end.
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Main focus on sub-investment grade corporate credit, complemented with ABL, specialty financing, infrastructure or real estate debt and other credit niches, if desired.
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Combination of complementary strategies and products to balance return opportunities, relative attractiveness, and credit risk diversification.
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Actively managed, tailor-made client solutions with individually defined liquidity and risk budgets.
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Ongoing monitoring and comprehensive reporting across products, as well as for consolidated PD portfolios. Accompanied by transparent assessments of the relative attractiveness of various fixed income asset classes.
Impact Investing
Returns
Attractive risk premia as well as additional premia for illiquidity and structuring
Relevant characteristics
Focus on private markets, low interest rate risk, broadly diversified across regions, asset classes and sustainable development goals (SDGs)
Diversification
Accessing sustainable investment strategies with a positive and measurable impact on people and nature
Objective
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Under DM we mean liquid, active strategies with positive expected returns that especially work well in difficult equity market periods. Systematic and reliable.
Implementation
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Multi-manager solutions consisting of specialised and carefully evaluated liquid as well as transparent and cost-efficient investment products.
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Main focus on trend following strategies, complemented with long volatility and divergent macro, if desired.
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Combination of different trend following approaches to reduce model, market, and manager risks.
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Tailor-made client solutions with individually balanced risk budgets, appropriate hedging properties and liquidity profiles.
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Daily monitoring and comprehensive transparent reporting on all underlying products, and their exposures, as well as for the consolidated portfolio.
Drawdown Management
Returns
Positive expected return, positively skewed return distribution.
Relevant characteristics
Liquid and ideal for rebalancing, adaptive profile, diversified across models, asset classes and markets.
Diversification
Crisis alpha and low to negative equity and bond correlation.
Objective
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Easy access to multiple impact investment themes. Our solutions aim at generating attractive returns with a positive, measurable impact.
Implementation
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Multi-manager solutions comprising carefully selected, specialised impact products in the fields of private equity, private debt and infrastructure.
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Addressing environmental and social issues in both emerging and developed markets.
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Investable impact themes such as financial inclusion, social housing, climate action or circular economy.
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Tailor-made weighting of individual themes (focus on specific impact themes versus broad diversification).
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Ongoing monitoring and reporting on investment performance and on the impact achieved.
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Concrete impact review with independent specialists in our Independent Impact Consulting Group.