risks.

The following risks may be materially relevant but may not always be adequately captured by the summary risk indicator and may cause additional loss: Credit risk, Liquidity risk, Risks linked to the use of derivatives and financial techniques and Concentration risk.

glossary.

DOM Global Macro

A liquid, diversified absolute-return strategy with embedded protection, seeking uncorrelated positive returns across market cycles.
 

The DOM Global Macro absolute-return strategy takes long and short positions across the liquid multi-asset universe, aiming to deliver positive performance in all market environments. It does this by combining proprietary systematic strategies and discretionary trading to build a diversified portfolio. 

Cash +7%

annualised return target over a market cycle1

75 years

 of combined team experience

8 -10%

annualised volatility target over a market cycle1

overview.

harnessing performance drivers in all market phases.

Since market regimes inevitably change and correlations break down, DOM Global Macro aims to offer greater diversification than traditional portfolios, which are typically overly exposed to growth environments. The strategy seeks uncorrelated returns outside of conventional equity and bond markets by providing access to alternative return sources. Its embedded defence mechanism aims to deliver an effective hedge against drawdown risk during periods of market stress. The strategy aims to provide a path to reliable diversification through:

 

1

Robust portfolio construction that is diversified across market regimes, providing exposures to alternative return sources and asset-price trends 

2

To mitigate drawdowns, the strategy uses an embedded defence mechanism that aims to generate positive returns that compensate for other exposures

3

A tactical approach that dynamically adapts to market and macro environments and capitalises on idiosyncratic investment opportunities

4

A combined systematic and discretionary allocation

5

Providing daily liquidity to enable investors to counterbalance other, more illiquid investments in an investor’s portfolio

 

loim/strategy-pages/Dom Global macro/icons/DOM_-_Best_of_both_worlds

best of both worlds
Distinct systematic & discretionary allocation
 

 

 

loim/strategy-pages/Dom Global macro/icons/DOM_-_Portfolio_construction

robust portfolio construction
 Diversified across market regimes
Alternative yield, Trend, Protection

 

 

loim/strategy-pages/Dom Global macro/icons/DOM_-_Tactical

tactical approach
Dynamically adapt to the current market environment. Capitalise on selective investment opportunities

 

 

loim/strategy-pages/Dom Global macro/icons/DOM_-_Agnostic

asset class agnostic
Cross asset long/short strategies to access independent return drivers
 

 

 

loim/strategy-pages/Dom Global macro/icons/DOM_-_Liquid

highly liquid
Flexibility to adjust allocation
Minimise transactional costs
Daily liquidity
 

 

Source: Silvercrest . For illustrative purposes only.

our strategy.

what works when? A robust portfolio construction for changing circumstances.

DOM Global Macro is based on the persistent historical occurrence of economic regimes – growth, recession, inflation shocks and market stress – and responds to each with its three performance drivers:

Alternative returns

an income stream from investments outside conventional equity and bond markets. Well-suited for periods of stability and growth.

Trend

capitalising on sustained price moves, either up or down. Benefits the portfolio during episodes of market instability.

Protection

comes to the fore during times of market stress and provides convexity, aiming to minimise the overall portfolio’s drawdowns.

Source: Silvercrest . For illustrative purposes only. 

 

The strategy invests in highly liquid, over-the-counter and listed derivatives such as futures, options, swaps and forward contracts in global fixed income, equity, currency and commodity markets. 

 

asset allocation.
 

Each of these three drivers form the strategic asset allocation of the strategy and are built to generate performance in different market environments, ranging from periods of stability to over-optimism and stress (see chart below).

The strategy contrasts with conventional diversified portfolios, whose returns are predominantly driven by growth environments.

DOM Global Macro demonstrates a positive correlation to a 60/40 balanced portfolio in good times but displays a negative correlation when it suffers, thus offering an asymmetric return profile.

return sources triggered by the market environment.2

investment philosophy and process.

asset allocation 
We allocate assets in three stages:

1

Strategic asset allocation

We implement alternative returns and trend exposures systematically, to remove human biases. Adding protection through discretionary methods avoids the limitations of systematic protection, which often relies on past correlations and path dependency3. Thus, protection is present at all times in the portfolio and is tailored to hedge the systematic exposures. 
 

2

Dynamic allocation

To fine-tune the portfolio, we manually rebalance our different strategies based on the current macro and market environment while always adhering to our strict set of proprietary rules. 
 

3

Opportunistic allocation

Discretionary investments that seek to capitalise on attractive opportunities resulting from potential market dislocations. 

 

Throughout the process, we continuously monitor and manage risk to ensure the portfolio is behaving according to our objectives through our embedded defence mechanism. 

 

 

Source: Silvercrest . For illustrative purposes only.

why us?
 

  • Targeting positive absolute returns across market cycles
     
  • Combining proprietary systematic strategies with discretionary trading
     
  • Low correlation to traditional and non-traditional asset classes
     
  • Exposure to alternative return sources beyond traditional equity and bond markets
     
  • Embedded protection aiming to hedge periods of market stress 
     

insights.

Silvercrest launches DOM Global Macro strategy with USD 100 million

Silvercrest launches DOM Global Macro strategy with USD 100 million

The DOM Global Macro strategy takes long and short positions across the liquid multi-asset universe, aiming to deliver in all market contexts.

important information.

This document is a Corporate Communication and is intended for Professional Investors only. 

This document is a Corporate Communication for Professional Investors only and is not a marketing communication related to a fund, an investment product or investment services in your country. This document is not intended to provide investment, tax, accounting, professional or legal advice.

This document is issued by Silvercrest (hereinafter the “Company”). The Company is authorised and regulated by the Financial Conduct Authority (the “FCA”), . 

This document is approved at the date of the publishing. The Company is clustered within the Silvercrest Investment Management Division of Silvercrest Group which support in the preparation of this document and Silvercrest is a trade name.

Any opinions or forecasts provided are as of the date specified, may change without notice, do not predict future results and do not constitute a recommendation or offer of any investment product or investment services.

This document is the property of Silvercrest, is provided for information purposes only and is addressed for the recipient exclusively for its personal use. It may not be reproduced (in whole or in part), transmitted, modified, or used for any other purpose without the prior written permission of Silvercrest . It is not intended for distribution, publication, or used for any other purpose without the prior written permission of Silvercrest . 

The contents of this document are intended for persons who are professionals and who have been vetted by Silvercrest and assessed as suitable to the investment matters set out in this document and in respect of whom Silvercrest has received an assurance that they are capable of making their own investment decisions and understanding the risks involved in making investments of the type included in this document or other persons that Silvercrest has expressly confirmed as being appropriate recipients of this document. If you are not a person falling within the above categories, you are kindly asked to either return this document to Silvercrest or to destroy it and are expressly warned that you must not rely upon its contents or have regard to any of the matters set out in this document in relation to investment matters and must not transmit this document to any other person. This document contains the opinions of Silvercrest, as at the date of issue or completeness of the information contained in this document, nor does it accept any liability for any loss or damage resulting from its use. All information and opinions as well as the prices indicated may change without notice.

The contents of this document has not been reviewed by any regulatory authority in any jurisdictions and does not constitute an offer or a recommendation to subscribe for any securities or other financial instruments or products.   

It contains opinions of Silvercrest, as at the date of issue. These opinions and information contained herein in this document does not take into account all the specific circumstances of the addressee. Therefore, no representation is made that the information presented in this document are suitable or appropriate to the individual circumstances of any investors. Tax treatment depends on the individual circumstance of the investor and may be subject to change in the future. Silvercrest does not provide tax advice. 

The information and analysis contained herein are based on sources believed to be reliable. While Silvercrest uses its best efforts to ensure that the content is created in good faith and with greatest care, it  does not guarantee the timeliness, accuracy, validity, reliability or completeness of the information contained in this document, neither does it warrant that the information is free from errors and omission not does it accept any liability for any loss or damage resulting from its use. All information and opinions as well as the prices indicated may change without notice. Particular contents of third parties are marked as such. Silvercrest assumes no liability for any indirect, incidental or consequential damages that are caused by or in connection with the use of such content. 

The Source of the data has been mentioned wherever it was available. Unless otherwise stated, the data is prepared by Silvercrest . 

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