What Makes Us Different

Absolute Return Strategies

We believe in pursuing absolute returns. Instead of gauging performance relative to a benchmark that might rise or fall in a given year, we strive to make gains each year regardless of the market environment. At the same time, we seek to generate returns that are potentially less volatile than broad equity markets.

As absolute-return managers, we:

• use a broader range of potential investments than most mutual funds,
• employ leverage and/or derivatives to amplify or enhance a specific strategy,
• short-sell to capitalize on declining markets and relative changes within markets,
• and invest in illiquid investments and strategies.

Absolute-return strategies fall into three categories:

1. Relative Value - Strive to take advantage of relative changes in the prices of individual securities instead of broad changes within particular markets.
2. Event-Driven - Strive to capitalize on corporate events such as mergers, takeovers, spin-offs, bankruptcies and reorganizations by correctly anticipating a resolution.
3. Opportunistic - Strive to capitalize on broad market disruptions that often result from governmental intervention in the financial markets or speculative bubbles that appear during different market cycles.