Welcome to Graham Capital

1994

Year Founded

25

Years of Experience

190

Number of Personnel

$15B

Total Firm AUM

$10B

Quantitative AUM

$5B

Discretionary AUM

*Personnel and AUM are approximated.

What We Do

Graham Capital Management ("GCM") manages assets on behalf of global pensions, sovereign wealth funds, endowments and foundations, investment management advisors and qualified individual investors. GCM manages quantitative and discretionary trading portfolios with a variety of return and volatility objectives, as well as blended portfolios that include a combination of quantitative and discretionary strategies. Strategies trade a broad range of markets spanning global interest rates, currencies, commodities and equities and are designed to produce attractive absolute and risk-adjusted returns with low correlation to traditional assets and other alternative strategies.
 

Past performance is not necessarily indicative of future results. The potential for profit is accompanied by the risk of loss.


Quantitative


Quantitative strategies include trend-following and quantitative macro strategies which utilize multiple proprietary trading signals to capture alpha.

Sophisticated risk management techniques are used to optimize portfolio construction and enhance returns.

The firm’s approach to quantitative research is process driven and is based on a rigorous application of the scientific method.

GCM utilizes advanced infrastructure and focuses on high performance computing and big data to generate research in areas including machine learning, signal processing, and deep learning.

Investment vehicles offered include private investment funds, managed accounts, sub-advised mutual funds and UCITS vehicles.

Discretionary


GCM employs a multi-portfolio manager approach to discretionary trading, allocating to a diverse roster of internal portfolio managers trading across liquid global markets.

Notably, the firm does not impose a “house view” and allows its portfolio managers to establish their own views within their trading mandate and the firm’s disciplined risk management infrastructure.

These portfolios are generally macro-oriented, following numerous markets at any given time, or sector specific, capitalizing on opportunities within a single sector.

The largest allocations have generally been stable over time; core strategy allocations have a weighted average tenure at GCM of approximately five years.

Graham’s portfolio managers tend to trade tactically, often taking more concentrated risk on high conviction opportunities and reducing risk during challenging performance periods or times of low market directionality.


Past performance is not necessarily indicative of future results. The potential for profit is accompanied by the risk of loss.

Our Leadership

Executive Committee

The firm’s Executive Management Committee is comprised of Ken Tropin, Pablo Calderini, Bob Murray, Brian Douglas, James Medeiros, Edward Tricker, and Kelly Tropin and is responsible for the overall management of the firm.

Investment Committee

The firm’s Investment Committee is responsible for the oversight of the firm’s portfolios and manages a thorough process for vetting discretionary and quantitative investment strategies. Investment Committee members manage and oversee the various departments within the firm. The Investment Committee meets formally each month to determine portfolio allocations and meets throughout each month as necessary to discuss ongoing issues that may arise.

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Risk Committee

The members of the Investment Committee are also members of the firm’s Risk Committee, which meets daily to review position-level information and related risks for each of the firm’s strategies within the context of prevailing market conditions. The daily Risk Committee process is designed to inform members of the firm’s senior management team of the various risks to which the firm is exposed and, if appropriate, the Risk Committee will effect a reduction in risk within a particular strategy, or across a specific portfolio of strategies.

Compliance Committee

In addition to maintaining a compliance department staffed by members of GCM’s legal department, GCM utilizes a Compliance Committee with overall responsibility for monitoring compliance with the policies and procedures detailed in the firm’s Compliance Manual and Code of Ethics as well as other matters that it believes are within its oversight. The firm’s Compliance Committee, made up of senior representatives from Trading Services, Legal and GCM’s management team, meets on a monthly basis to review all compliance-related issues that require firm-wide cooperation, including trading efficiency and best execution. The members of this committee are also members of GCM’s Valuation Committee, which is responsible for reviewing any deviations from GCM’s valuation and pricing policies.

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Investment Strategies

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GCM has more than two decades of quantitative and discretionary trading experience, and core investment capabilities spanning discretionary macro, quantitative macro, and systematic trend-following.

GCM offers several quantitative and discretionary investment portfolios and manages customized accounts with a variety of return and volatility targets.

Investment vehicles offered include private investment funds, managed accounts, sub-advised mutual funds and UCITS.

Strategies are designed to generate absolute returns with low correlation to traditional assets.

OUR PHILOSOPHY

 

Our philosophy is that attractive absolute and risk-adjusted returns can be best achieved through diversified investment strategies across a broad range of markets, while employing rigorous risk management and portfolio construction techniques.

 

• Strategy Diversification

 

• Disciplined Risk Management

 

• Robust Portfolio Construction


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                             Past performance is not necessarily indicative of future results. The potential for profit is accompanied by the risk of loss.
Strategy Diversification | Disciplined Risk Management | Robust Portfolio Construction