Investment Science Asset

Management (SRA-16D)

Fund Investment Objectives

The SRA F-16D FUND is a new breed of 'hybrid' CTA, designed to deliver attractive risk-adjusted returns that are uncorrelated with other CTAs, with a long-term volatility target of 16% pa. This is achieved by: 1) always utilising a hypothesis-first approach to strategy design; 2) adopting position sizing rather than stop-losses to avoid whipsaw; 3) time rather than price based execution; 4) allocation to risk (vol) rather than NAV; 5) integrating a systematic qualitative component, which is a definitional economic approach that acts as an early warning system for likely hypothesis failure and impending market stress.