Olympia Capital Management

Transcription

1 Olympia Capital Management

2 Olympia Capital Management 2 Delivering innovative solutions since 1989 An independent and experienced team Founded in 1989 to manage funds of hedge funds Richmond Park: an active and entrepreneurial partner since April 2011 Assets under management as of December 31, 2010: USD 2.2 billion International presence: 58 people in Paris, New York, London and Zurich Experienced investment team: 16 alternative investment professionals with 8 years of experience on average A 19-year track record in alternative investments Olympia Star I: +8.4% net annualised returns since January 1991 as of December 31, 2010 Full range of alternative multi manager funds: diversified, thematic, customized and subadvisory portfolios

3 Global reach with regional expertise 3 A globally regulated company USA - Registered Investment Advisor with the Security and Exchange Commission (SEC) UK - Registered with the Financial Services Authority (FSA) France - Regulated by the Autorité des Marchés Financiers (AMF) Olympia Capital Management SA Olympia Capital Gestion SA Olympia Capital Assurances SARL Head Office Olympia Capital Management Ltd. Research & Distribution Olympia Capital Management AG Distribution Olympia Capital Management Inc. Research

4 Investment team A seasoned team with 8 years average experience 4

5 Investment Process Summary 5 Refined over the past 19 years HEDGE FUND STRATEGY OUTLOOK Medium term macro economic outlook Medium term strategy review and outlook RISK MANAGEMENT Monitoring and modelling both individual hedge fund manager risk and aggregate portfolio risk Optimal portfolio construction PORTFOLIO MANAGER SELECTION & MONITORING A combination of in-depth quantitative, strategic and operational due diligence Diversification amongst managers who exhibit different behaviour and characteristics

6 Hedge Fund Strategy Outlook 6 Forecasting risk premiums associated with traditional and alternative risk factors Systematic risk factor expectations Traditional asset classes: equities & bonds on global, regional and sector level Alternative risk factors: market volatility, credit spreads, corporate activity, M&A spreads, emerging market spreads Top down Committee A quarterly forward looking process Medium term macro economic scenario Medium term outlook for each hedge fund strategy Level of risk & level of leverage in portfolios

7 Manager Selection & Monitoring 7 Manager Sourcing Quantitative Due Diligence Strategic Due Diligence Operational Due Diligence Final Manager Review & Olympia Rating Referrals Quantitative screenings Analysis of alpha relative to: market indices peer group Analysis of risk and portfolio diversification Experience & background of Investment Team Identify edge and its sustainability Strategy & Investment process Risk management Structure of fund & organization Service providers Regulatory & compliance Valuation Background checks Investment Team conference call with hedge fund manager Olympia Rating Based on three ratings Quantitative Strategic Operational Each fund is rated as: Rejected A AA AAA Capacity & liquidity Funds rated A and above are investable Manager Introduction Report Quant DD Report Quant DD Scoring Strategic DD Report Operational DD Report & Scoring Strategic DD Scoring Olympia Rating

8 Portfolio Construction The art of constructing funds of hedge funds 8 INPUTS CONSTRAINTS Medium term outlook on hedge fund strategies HEDGE FUND STRATEGY OUTLOOK Portfolio Guidelines: Risk/Return objectives Historical hedge fund returns, volatilities and correlations Views on hedge fund managers based on the strategic and operational due diligence updates RISK MANAGEMENT FINAL PORTFOLIO MANAGER SELECTION & MONITORING Strategy bounds Concentration limits Monthly portfolio management: Hedge fund capacity and liquidity restrictions Portfolio flows

9 Risk Management 9 Risk is monitored and managed at 2 levels: at the individual hedge fund manager level: risk management focuses on identifying significant changes in the risk taken by manager and ensuring that the risk taken remains commensurate with manager performance and initially forecasted risk at the aggregate portfolio level: risk management ensures that the overall portfolio risk and diversification is in accordance with fund guidelines and objectives Our risk management system includes the monitoring of Market risk Liquidity risk via various proprietary softwares : Olympia Optimizer (O2), Olympia System of Risk (OSYRIS), Olympia Aggregated Risk Tool (ART) Reporting A formal red flag report is produced if our risk system detects abnormal variations, concentration in the risk or inconsistencies between the current risk of the fund and its objectives. A formal exception report is written by the analyst if a return is more than two standard deviations above or below the monthly return, outlining the reasons behind the exceptional performance.

10 Dedicated/Sub-Advisory Funds: Successful Partnerships 10 Private Banks Swiss private bank South African private bank Diversified multi-strategy & Long/Short FoHF Diversified multi-strategy FoHF Banks Swiss bank Japanese bank Diversified multi-strategy FoHF Concentrated multi-strategy FoHF Investment Banks Deutsche Bank Société Générale BNP Paribas Nomura Structured products on Olympia FoHF Structured products on Olympia FoHF Structured products on Olympia FoHF Structured products on Olympia FoHF

11 Marketing and Client Service Team 11 Dedicated international client service team Transparency and reporting Weekly estimated NAV report Monthly fund fact sheet Olympia Online Service : a dedicated website and reporting tool for advisory mandates YOUR LOGO Monthly statistical reports providing indepth risk/ return analysis at the overall portfolio level Quarterly conference call with commentary and outlook Annual audited reports Sophisticated and customized fund reporting Access weekly NAVs, monthly newsletters and product presentations on:

12 Olympia Capital Management : Awards & Recognition 12 Olympia Capital Management voted one of the 3 best fund of hedge funds managers by French institutional investors. Olympia Star I has been higly commended by the Hedge Fund Review every year since Olympia Global Macro won the HFMWeek European Award in the category "Fund of Hedge Funds Newcomer", in May Olympia Capital Management voted one of the 3 best fund of hedge funds managers by French institutional investors. Olympia Capital Management received the Award of the Best European Institutional Fund of Hedge Funds Product Provider at the European Hedge Fund of Funds Awards in December Olympia Star I received the Award of the Best Long Term Achievement Fund of Hedge Funds over 10 years (diversified fund of hedge funds), at the European Hedge Fund of Funds Awards in December Allenbridge Hedgeinfo, an independent fund research group, rated Olympia Star I AA (the second highest rating, benchmark quality ).

13 Disclaimer 13 This documentation does not constitute any solicitation to invest in the portfolio or in any vehicle invested therein, but is intended for the sole destined addressee s personal information and thus cannot be disclosed, under any circumstance, to any third party by the destined addressee. Olympia Capital Management shall not accept any responsibility on the accuracy of this information or on any consequence deriving from a situation where this information would be used outside of its intended, purely informative purpose. Past performance is no guarantee of future results.

14 14 Olympia Capital Management is proud to support The Anouk Foundation s worldwide mission is to transform the hospital and nursing home environment both for children and senior citizens into a, colorful and soothing place so as to ease the stress and the trauma for them and for their families.