Transparent
Our investments are fully transparent. Our funds invest directly in equities and the liquidity is invested in short term, investment grade government paper.
We do not invest in other funds or investment vehicles that could create multiple layers of investment and reduce transparency.
In our monthly reporting we disclose the composition of our portfolios as well as the level of net equity exposure. The latter is the difference between the gross investment in equities and the sale of index futures. For example we could be 82% invested in equities (with the remaining 18% kept as liquidity) and at the same time hedge the portfolio for 60% resulting in a 22% net equity exposure.
We have a simple fee structure consisting of a fixed annual management fee and a performance fee that is linked to the fund’s performance vis-à-vis its benchmark. For details please click here and check the individual fund information.