Structure
Two divisions. Seven desks. One book.
Every desk has a lead, a written mandate and a slice of the fund's paper capital. Members sit on one desk but present to, and learn from, the whole committee.
Division 1
Discretionary Trading
Judgement-led desks that build a view from fundamentals, flows and macro conditions, then express it through sized, risk-managed paper positions with a written thesis and exit plan.
Equities
Single-name and sector views across UK, US and European equities, built from fundamental research, earnings analysis and valuation work.
Macro & Rates
Top-down views on growth, inflation and central bank policy expressed through government bonds, rates futures and index-level instruments.
Options & Futures
Derivatives desk focused on volatility, structured expressions of directional views and defined-risk strategies on liquid underlyings.
Commodities & FX
Energy, metals, agricultural commodities and G10 currency pairs, traded on supply-demand analysis and relative macro strength.
Division 2
Quantitative
Research-led desks that design, test and run systematic strategies, and build the data and tooling the whole fund depends on.
Systematic Strategies
Runs the fund's rules-based strategies: trend, carry and cross-sectional momentum portfolios with weekly rebalancing.
Quant Research
Researches new signals, factor models and risk tools. Strategies graduate to Systematic Strategies once they pass out-of-sample review.
Data & Infrastructure
Owns the fund's price data, position book, backtesting framework and reporting pipeline so every desk works from the same numbers.