Performance History
-Alpha generation: high quality, diverse profits
-Outperformance: in up, down and transitioning markets
-Low correlation to indices and peers
-Legacy positions: no side pockets
Alignment Of Interests With Investors
-Proven record of capital preservation
-Liquidity of investments matched with liquidity for investors
-All redemptions paid in cash; never any gates, side pockets, pay-in-kind
-Transparency: portfolio and business
-Willingness to hold cash, if opportunities scarce or risks too high
-Fund expenses: extremely low
Robust Risk Controls For Fund And Firm
-Portfolio: concentration and exposure hard limits, limited use of leverage
-Independent risk reports from RiskMetrics, Measure Risk, Risk Resources
-Counterparties: zealously protect cash, securities, business operations, investors
-Third party pricing of portfolio and calculation of NAV
-Best of breed of auditors, legal counsel, administrator