Alternatives

Alpha Arbitrage

This long/short strategy seeks to exploit return differentials from systematic alpha sources, including volatility, value, quality, and momentum. The strategy seeks to achieve a high Sharpe ratio over the long term. It focuses on total, or absolute, risk rather than risk relative to the market.*

 Market Exposure Beta range of 0 to 0.3
 Benchmark 90-Day Treasury Bill
 Risk Target* 4%-8%
 Return Expectation* 4-6 percentage points above benchmark
 Inception January 2011


Alpha Arbitrage Equitized

This long/short strategy seeks to exploit return differentials from systematic alpha sources, including volatility, value, quality, and momentum. The strategy seeks to achieve a high information ratio by using a futures overlay to target a beta between 0.85 to 1.*

 Market Exposure Beta range of 0.85 to 1
 Benchmark S&P 500® Index
 Active Risk Target* 3%-4%
 Return Expectation* 2-4 percentage points above benchmark
 Inception December 2016


Liquid Private Equity

This leveraged strategy employs a systematic process to invest primarily in public U.S. mid-cap and small-cap companies with characteristics that may be attractive to private equity investors. The strategy emphasizes higher quality, positive cash flow companies with attractive valuations.* 

 Market Exposure Beta target of 1
 BenchmarkRussell Midcap® Index
 Active Risk Target* 4%-5%
 Return Expectation* 1.5-2.5 percentage points above benchmark
 Inception January 2018


*Investment results are not guaranteed, and there is no guarantee that a strategy’s objective will be met. Investing in securities involves risk of loss of both income and principal that investors should be prepared to bear. Long/short investing can be riskier than long-only investing, since both the long and short sides can simultaneously lose value. Risk Target and Return Expectation are relative to a strategy’s benchmark over a full market cycle.