Investment strategy 06

Active Listed Markets

Research-led selection in liquid public markets.

Active listed strategies seek to make deliberate security, sector, factor and risk decisions rather than replicate a market index.

Listed equities
Public credit
Fundamental selection

Investment perspective

How we assess the opportunity.

We assess active strategies by the repeatability of their process, the source of excess return, risk controls, capacity, costs and performance through a full market cycle rather than a short period of relative strength.

Exposure may be obtained through segregated mandates, mutual funds, listed funds or other regulated vehicles, subject to investor jurisdiction and eligibility.

Active listed strategies can also complement private investments by providing liquid exposure to sectors, regions or capital-structure themes while preserving portfolio flexibility.

Capabilities

A detailed investment toolkit.

Global and regional equities

Bottom-up and thematic strategies across developed and selected emerging markets.

Listed credit

Investment-grade, high-yield, convertible and other public debt strategies.

Sector and thematic mandates

Focused exposure to infrastructure, technology, healthcare, energy and other specialist areas.

Manager research

Assessment of team, philosophy, attribution, capacity, trading, governance and operational controls.

Portfolio construction

Sizing, concentration, factor exposure, liquidity and drawdown analysis across the total allocation.

Stewardship assessment

Review of voting, engagement and escalation practices where relevant to the mandate.

Underwriting priorities

Questions before capital is committed.

Repeatable investment edge

Long-term performance attribution

Drawdown and factor exposure

Liquidity and portfolio capacity

Fees, turnover and implementation cost

Governance and operational resilience

Portfolio considerations

Potential portfolio role

Potential capital growth, income and tactical flexibility through liquid securities selected against a defined benchmark or absolute objective.

Liquidity

Generally higher than private markets, but liquidity can decline sharply in stressed markets or specialist securities.

Principal risks

Market loss, manager underperformance, concentration, style drift, currency, interest-rate, credit and liquidity risk.

Related strategies

Alternative Investments

Selective private-market and real-asset exposure across differentiated sources of risk and return.

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Private Equity

Growth, minority and control investments in companies from proven scale-up through mature market leadership.

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Private Credit and Structured Investments

Flexible senior, junior, asset-backed and hybrid capital designed around cash flows and collateral.

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Discuss how this strategy may fit a broader investment mandate.

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For informational purposes only. This material does not constitute an offer, solicitation, recommendation or commitment to provide investment services or capital. Availability, vehicle structure and investor eligibility vary by mandate and jurisdiction. Investments involve risk, including possible loss of capital. Private investments may be illiquid and valuation may be uncertain. Past performance is not a reliable indicator of future results.