Investment Overview

Our investment team seeks to capitalise on inefficiencies across developed, emerging and frontier markets. Sources of return are drawn from a diverse set of assets.
Fundamental discretionary Global Macro strategy.
Three objectives: return in excess of 3-Month U.S. Treasury Bill rates, annualized standard deviation similar or lower than excess return, near zero beta to traditional sources of systematic investment risk.
Portfolio consists primarily of long and short sovereign positions across currencies, sovereign credit, and interest rates.
The investment process combines bottom-up investment decisions, top-down risk measurement and risk management throughout the process.
 

Portfolio Construction

The portfolio seeks to generate gross returns of benchmark plus 6-8 %
Expected volatility will typically range from 4-8 %
Currency +/- 100 %
Credit Spread Duration Contribution +/- 4.0 years
Interest Rate Duration Contribution +/- 6.0 years
Equity +/- 20 %
Commodity +/- 20 %

Investment Team

Marshall Stocker, PhD, CFA

Co-Director of Emerging Markets

22 years of industry experience

8 years at Eaton Vance

PhD, Universidad Francisco Marroquin

MBA, Cornell University

BS, Cornell University


John Baur

Co-Director of Emerging Markets, Portfolio Manager

17 years of industry experience

17 years at Eaton Vance

MBA, Cornell University

B.S., Massachusetts Institute of Technology


Kyle Lee, CFA

Portfolio Manager

13 years of industry experience

13 years at Eaton Vance

BA, Wesleyan University


Patrick Campbell, CFA

Portfolio Manager

13 years of industry experience

13 years at Eaton Vance

B.A., Boston College


Federico Sequeda, CFA

Portfolio Manager

11 years of industry experience

10 years at Eaton Vance

BA, Dartmouth College


 

Benchmark

ICE BofAML 3-Month U.S. Treasury Bill Index