Our Performance
Strong results across multiple cycles.
High-Conviction Flagship
Since inception, the High-Conviction Flagship strategy1 has returned 7.9 times its initial investment, which equals a 37.2% annual return. In contrast, the broader equity market2 has returned 2.5 times over the comparable period, which equals a dramatically lower 15.2% annual return.
When the market has been up, the strategy returned 2.4 times better. Similarly, when the market has been down, the strategy only captured less than three-quarters of the drawdown. Overall, this asymmetry contributed to more than three times better returns capture compared to the broader equity market.
The High-Conviction Flagship strategy has earned 26% single-factor alpha and 34% 5-factor alpha, with idiosyncratic exposures of 86% and 58% respectively. The strategy has a correlation to broader equity markets of less than 40%.
1 The returns presented reflect the consolidated personal account trading performance of the Principal Portfolio Manager, which employed the same strategy as the High-Conviction Flagship strategy. Although the actual fees charged were nil, the returns are presented net of the anticipated go-forward fees contemplated for the High-Conviction Flagship strategy. ↩
2 The broader equity market refers to the SPDR S&P500 ETF. ↩