Force 10 (USD)
Executive Summary
The investment philosophy of H2O is based on the conviction that value diversification is the most stable and robust source of alpha over time. All-out diversification not only across assets, but also by investment horizon and manager expertise, gives us the ability to make better decisions and to produce more consistent risk-adjusted performance. To generate alpha, H2O AM follows a top-down qualitative investment process and monitors the risk associated to calibrate the highly diversified strategies. No single position in itself has any meaning outside this overall risk/return context. Each view is based on a set of factors - macro, valuation, flows/positioning, and technical - and input is provided by the entire 17-member investment team. The qualitative views are then translated into quantitative forecasts taking into account past volatilities and correlations and using Black & Litterman methodology as the key instrument enabling the conversion of views into positions.
H2O AM fund managers take directional, relative value and specific/thematic positions in fixed income, currency and equity markets (no credit, no commodity exposure).
The exposures are first decided in respect of each asset class: G4 govies, USD and equity markets. Relative value strategies are then constructed independently from the directional positions: they are "exposure-neutral". Finally, specific or thematic calls may be implemented separately. All the above strategies are invested using preferably derivatives.
Disclaimer: H2O AM LLP is authorised and regulated by the Financial Conduct Authority (FCA) and is listed on the UK Financial Services Register under firm reference number 529105.
This message is provided for information purposes and should not be construed as a solicitation or offer to buy or sell any securities or related financial instruments.
This information is solely for the attention of institutional, professional, qualified or sophisticated investors and distributors who qualify as qualified purchasers under the Investment Company Act of 1940 and as accredited investors under Rule 501 of SEC Regulation D. It is not to be communicated or distributed to the general public, private customers or retail investors in any jurisdiction whatsoever. Differences between product-specific constraints or fees and those of a similarly managed mandate would affect performance results. This material, which is not a contract, is based on sources that H2O considers to be reliable. Data, opinions and estimates may be changed without notice. H2O accepts no liability whatsoever, whether direct or indirect, that may arise from the use of information contained in this material. H2O can in no way be held responsible for any decision or investment made on the basis of information contained in this material. Investment involves risk.
Past performance and simulations based on thereon are not indicative of future results nor are they reliable indicators of future performance. The value of an investment may fluctuate according to market conditions and cause the value of an investment to go up or down. As a result, you may lose the amount originally invested. The allocations and weightings, as well as the views and opinions of the investment team, are as of the date shown and are subject to change.
All investors should seek the advice of their legal and/or tax counsel or their financial advisor prior to any investment decision in order to determine its suitability. H2O AM LLP is a registered Investment Adviser with the SEC (028-19276) and a registered commodity pool operator and commodity trading advisor with the Commodity Futures Trading Commission (CFTC) and an approved member of the National Futures Association (NFA) - NFA ID 0484274. Company Name & Business Office: H2O AM LLP, 2nd floor, 10 Old Burlington Street, London W1S 3AG, United Kingdom. Company Number OC356207.
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Disclaimer Info
The performance data displayed herein is compiled from various sources, including BarclayHedge, and reports directly from the advisors. These performance figures should not be relied on independent of the individual advisor's disclosure document, which has important information regarding the method of calculation used, whether or not the performance includes proprietary results, and other important footnotes on the advisor's track record.
The programs listed here are a sub-set of the full list of programs able to be accessed by subscribing to the database and reflect programs we currently work with and/or are more familiar with.
Benchmark index performance is for the constituents of that index only, and does not represent the entire universe of possible investments within that asset class. And further, that there can be limitations and biases to indices such as survivorship, self reporting, and instant history. Individuals cannot invest in the index itself, and actual rates of return may be significantly different and more volatile than those of the index.
Managed futures accounts can subject to substantial charges for management and advisory fees. The numbers within this website include all such fees, but it may be necessary for those accounts that are subject to these charges to make substantial trading profits in the future to avoid depletion or exhaustion of their assets.
Investors interested in investing with a managed futures program (excepting those programs which are offered exclusively to qualified eligible persons as that term is defined by CFTC regulation 4.7) will be required to receive and sign off on a disclosure document in compliance with certain CFT rules The disclosure documents contains a complete description of the principal risk factors and each fee to be charged to your account by the CTA, as well as the composite performance of accounts under the CTA's management over at least the most recent five years. Investor interested in investing in any of the programs on this website are urged to carefully read these disclosure documents, including, but not limited to the performance information, before investing in any such programs.
Those investors who are qualified eligible persons as that term is defined by CFTC regulation 4.7 and interested in investing in a program exempt from having to provide a disclosure document and considered by the regulations to be sophisticated enough to understand the risks and be able to interpret the accuracy and completeness of any performance information on their own.
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