IAM True Partner Volatility UCITS

Investment Objective

The Fund employs a strategy of global Relative Value Volatility trading. The team utilizes strong proprietary trading technology, combined with quantitative modeling and continuous real time risk management. The Fund aims to provide positive returns with negative correlation to equity markets.

Latest Meeting Note

Meeting 14 Jun 2021

True Partner was formed in 2010 by a team of former options market makers and in mid-2019 launched a UCITS fund on the IAM platform. The fund employs a global relative value volatility trading strategy trading in liquid markets (futures,... Read more

True Partner was formed in 2010 by a team of former options market makers and in mid-2019 launched a UCITS fund on the IAM platform. The fund employs a global relative value volatility trading strategy trading in liquid markets (futures, options and ETFs) in a delta neutral manner with zero/low net vega exposure. The team combines advanced technology and quantitative modelling with discretionary trading expertise, with co-CIOs and PMs split across Hong Kong and Chicago to enable round-the-clock trading. Quantitative screening is the initial starting point of the strategy, looking to identify market dislocations through real-time monitoring of markets and volatility structures, which is then compared to historical data and against their proprietary trading criteria. Information and assumptions around market regime, expected news flow and events are added to further validate the spotted dislocation (with this section representing the discretionary overview and input to the strategy). Based on the volatility structure, the target trade profile is defined in terms of the ‘greeks’, maturity and moneyness, with scenario analysis performed to help define the expected return versus possible drawdowns, and to determine scale. Extensive risk monitoring and management is undertaken with dynamic intraday hedging of delta exposures as well as frequent scenario analysis at an underlying and also portfolio level. Historically the fund has been a strong diversifier, with the fund positive in every quarter in which the MSCI World has been down.

Performance

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC YTD
2021 0.2 0.7 0.6 0.0 0.3 0.5 0.4 0.8 0.2 0.4 0.1 0.8 0.7
2020 0.4 0.1 0.4 0.4 0.9 0.5 0.6 0.8 0.1 0.6 0.0 0.1 0.1

or Register for Free

  • Access the full universe of UCITS Hedge Funds and Absolute Return Funds.
  • Build and curate a watchlist.
  • View the latest research.
Close Current Site Absolute Hedge is a market leading UCITS research database providing proprietary research on funds, themes and strategies in the UCITS space. Kepler Trust Intelligence is produced by the investment companies team at Kepler Partners and is the UK’s premier source of detailed qualitative research on investment trusts. Kepler Liquid Strategies is a Dublin domiciled UCITS fund platform featuring a number of best-of-breed fund managers. Kepler Partners is a corporate advisory and asset raising boutique specialising in the regulated funds market in Europe and investment trusts in the UK.