Click here to load reader

OLYMPIA CAPITAL MANAGEMENT - · PDF fileolympia capital management | confidential olympia capital management advisory services october 2011

  • View
    220

  • Download
    0

Embed Size (px)

Text of OLYMPIA CAPITAL MANAGEMENT - · PDF fileolympia capital management | confidential olympia...

  • OLYMPIA CAPITAL MANAGEMENT | Confidential

    OLYMPIA CAPITAL MANAGEMENT

    ADVISORY SERVICES

    October 2011

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 2

    CONTENTS

    Introducing Olympia Capital Management

    Investment team

    Olympias hedge fund advisory business: Our edge

    Investment universe & coverage

    Olympias advisory business solutions

    Access to information & dedicated reporting

    Conclusion

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 3

    OLYMPIA CAPITAL MANAGEMENTA global company with regional expertise delivering innovative solutions since 1989

    An experienced and global company:Founded in 1989 to manage funds of hedge funds;

    Assets under management as of August 31, 2011: $1.7 billion;

    International presence: 45 people in Paris, London, New York and Zurich;

    Experienced team: Executive, Managing Directors and senior investment professionals have a significant experience in the industry.

    A 22-year track record in alternative investments:Olympia Star Lux: +9.0% net annualized returns since January 1991 as of August 31, 2011*;

    Full range of alternative multi manager funds: diversified, thematic, customized and sub-advisory portfolios.

    A fully regulated company:Europe - Regulated by the Autorit des Marchs Financiers (AMF)

    UK - Registered with the Financial Services Authority (FSA);

    USA - Registered Investment Advisor with the Security and Exchange Commission (SEC);

    Fitch AM Rating: M2

    Note (*): The annualized performance of Olympia Star Lux Class B USD is calculated based on its live performance since July 1, 2010 (first NAV). Prior than that, a pro-forma performance has been calculated based on the live performance of Olympia Star I USD Class, a share class of Olympia Star I Ltd (offshore fund, BVI) recomputed with the fee structure of Olympia Star Lux Class B USD (1% management and distribution fees and 10% performance fees above Euribor). Past performance is not indicative of future results. Source: Olympia Capital Management.

    PARIS

    Head Office

    LONDON

    Research & Distribution

    ZURICH

    Distribution

    NEW YORK

    Research

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 4

    INVESTMENT TEAM A blend of experience and local presence

    Source: Olympia Capital Management

    INVESTMENT TEAM Guido Bolliger, Ph.D., Chief Investment Officer

    Sergio Heuer, President

    Jim Parrish, Managing Director

    INVESTMENT TEAM Guido Bolliger, Ph.D., Chief Investment Officer

    Sergio Heuer, President

    Jim Parrish, Managing Director

    Head of Research

    & Deputy CIO

    Head of Research

    & Deputy CIOHead of Operational

    Due Diligence

    Head of Operational

    Due DiligenceSenior Portfolio Manager

    & Deputy CIO

    Senior Portfolio Manager

    & Deputy CIOHead of Risk Management

    & Quantitative Analysis

    Head of Risk Management

    & Quantitative Analysis

    + 3 Strategy Analysts

    NEW YORK / LONDON

    + 3 Strategy Analysts

    NEW YORK / LONDON+ 2 Operational Analysts

    NEW YORK / LONDON

    + 2 Operational Analysts

    NEW YORK / LONDON+1 Portfolio Manager

    PARIS

    +1 Portfolio Manager

    PARIS+ 2 Analysts

    PARIS

    + 2 Analysts

    PARIS

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 5

    OLYMPIAS HEDGE FUND ADVISORY BUSINESSOur edge

    Longevity: Founded in 1989, Olympia has more than 20 years of experience in evaluating hedge funds for its own investment portfolios. Plus, for over 10 years, the group has advised institutional clients for their hedge fund investments.

    Aligned incentives: The fund of hedge funds investment activity of Olympia ensures the clients and Olympias interests are aligned at all times.

    Industry network: Given our 22 years in the industry, we have privileged access and advantageous terms with the best global managers.

    Flexibility: A specialized investment boutique which can provide customized advisory solutions for clients.

    Rigorous process: Exceptional risk management and proprietary systems that can be made available to advisory clients; An investment process that successfully avoided big Ponzi schemes and major hedge fund frauds.

    Expertise: A strong expertise in niche but highly-complex strategies; Coverage of the main hedge fund strategies: macro, L/S equity, relative value.

    Information sharing: Our clients get a privileged access to the members of Olympias investment team;Local investment teams based in New York, London, Zurich and Paris enable direct contact with global fund managers.

    3.9%

    28.6%

    21.5%

    16.2%

    29.8%46.0%

    Alternative InvestmentsAlternative Investments (advisory mandates)Traditional & Mixed InvestmentsPrivate BankingInsurance

    Breakdown of the total assets under management

    of the Olympia Group as of August 31, 2011

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 6

    THE INVESTMENT UNIVERSE & COVERAGE ISBroadly diversified across both strategy and liquidity spectrums

    Olympia has been in contact with more than 15,000 managers over 22 years;Olympia has performed full due diligence on more than 400 managers historically;Olympias list of investible managers currently contains 112 approved managers, split across:

    Offshore vehicles;Managed accounts;UCITS III funds.

    Olympias operational due-diligence team is tracking the operational risk of all major managed account and UCITS III platforms such as HFR, Lyxor, Merrill Lynch, etc.

    by fund type

    Investment universe breakdown, in number of funds, as of August 31, 2011

    by liquidity

    18

    8

    13

    32

    2

    17

    2

    5

    10

    4 1

    GLOBAL MACRO

    CTAs

    COMMODITY & ENERGY

    EQUITY L/S

    SYSTEMATIC L/S

    EVENT-DRIVEN / MERGER ARB

    DISTRESSED

    MULTI-STRATEGY

    CREDIT ARBITRAGE

    CONVERTIBLE & FI ARBITRAGE

    VOLATILITY ARBITRAGE

    Offshore, 59

    Managed Account, 31

    UCITS III, 22

    Daily, 11

    Weekly, 36

    Bi-Monthly, 1Monthly, 41

    Quarterly, 23

    by strategy

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 7

    OLYMPIAS ADVISORY BUSINESS SOLUTIONS ARETailored to client-specific needs

    CLIENTCLIENT

    QUARTERLYSTRATEGYRESEARCH

    Medium term macro economic outlook

    Medium term strategy outlook

    QUARTERLYSTRATEGYRESEARCH

    Medium term macro economic outlook

    Medium term strategy outlook

    MANAGER SELECTION

    & MONITORINGStrategic, quantitative and operational due-diligence

    On-going strategic and operational monitoring

    MANAGER SELECTION

    & MONITORINGStrategic, quantitative and operational due-diligence

    On-going strategic and operational monitoring

    RISK MANAGEMENT

    Monitoring and modeling both individual hedge fund manager risk and aggregate portfolio risk

    Portfolio analysis and portfolio construction

    RISK MANAGEMENT

    Monitoring and modeling both individual hedge fund manager risk and aggregate portfolio risk

    Portfolio analysis and portfolio construction

    EXECUTION SERVICES

    Integration of the administration and operations

    Use of Olympias proprietary IT systems and back office infrastructure

    Counterparties

    EXECUTION SERVICES

    Integration of the administration and operations

    Use of Olympias proprietary IT systems and back office infrastructure

    Counterparties

    BEST-IN-CLASSREPORTING

    Olympias standard reporting on clients dedicated portfolios

    Tailor-made reporting designed with the client

    Olympia online services

    BEST-IN-CLASSREPORTING

    Olympias standard reporting on clients dedicated portfolios

    Tailor-made reporting designed with the client

    Olympia online services

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 8

    MANAGER SELECTION PROCESSOverview

    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

    Capacity & liquidity

    Structure of fund & organization

    Service providers

    Regulatory & compliance

    Valuation

    Background checks**

    Quantitative Due Diligence

    Strategic Due Diligence Report& Scoring

    Quant Due Diligence Report& Scoring

    Operational Due Diligence Report & Scoring

    Strategic Due Diligence

    OperationalDue Diligence*

    * Performed at the platform level for both managed accounts and UCITS III funds** No background checks are performed for both managed accounts and UCITS III funds. For offshore funds that are not covered by Olympia, background checks will be charged directly to the customer.

    OUTPUTS

  • October 2011OLYMPIA CAPITAL MANAGEMENT | Confidential 9

    THE MANAGER MONITORING PROCESS REPRESENTSA blend of qualitative, operational and quantitative inputs

    Monthly bottom-up meeting:Current positioning of our managers;

    Qualitative performance review for a selected group of managers;

    Operational risk review;

    Market risk and quantitative review (Quant Book).

    Exception reports:Systematic written report on managers that post abnormally high or low performance.

    Strategic Monitoring Reports:Bi-annual monitoring report on each offshore manager and annual monitoring report on each UCITS fund or managed account;

    One report per annum is performe