Robust and thorough due diligence is at the heart of our firm's investment process. Our detailed manager monitoring programme ensures that our clients' investments are subject to on-going and effective governance.
Robust and thorough due diligence is at the heart of our firm's investment process. Our detailed manager monitoring programme ensures that our clients' investments are subject to on-going and effective governance. Our investment process includes a number of meetings with managers, carrying out on-site visits, as well as off-site analysis. Research reports are prepared for proposed investments and these are presented to the firm's investment committee. That committee has to approve all investments.We report transparently and regularly to our clients and investors. In regard to Bramdean Alternatives Limited we produce a monthly Factsheet in addition to our regulatory reports which are prepared at the half-year and full-year end. We provide details about the portfolio, the asset allocation and the geographical allocation on www.bramdeanalternatives.com, which is updated every month following the release of the month-end net asset value.
Rye Select Broad Market XL portfolio LtdStrategy Derivative ArbitrageFund size US$330 millionPortfolio Weighting 3.49%The Fund was launched in September 2006, although the manager has many decades of experience in executing the underlying strategy. The Fund is a relative value fund which specialises in derivative arbitrage and index trades.The Rye Select portfolio is a three-times leveraged version of a very conservative split-strike strategy – which consists of the purchase of a basket of equities, the purchase of a put option and the sale of a call option. The strategy has provided steady incremental profits for the portfolio over the period. During the months that the manager felt there were no sufficient investments to take advantage of, it remained in cash. The cost of leverage normally outweighed the interest from the capital during these months.
Defender Ltd.Strategy Relative ValueFund size US$382 millionPortfolio Weighting 4.18%This Fund was established in May 2007 and the manager, Reliance Management BVI Ltd., currently employs, via its subsidiaries and affiliates, 17 employees with two key principals: Linda Wayman and David Whitehead.The majority of the Fund’s assets are traded by Bernard L. Madoff Securities LLC, based on a trading authorisation agreement with the Fund. Madoff Securities is a leading international market-maker in all of the S&P 500 stocks. Madoff Securities is also a leader in the U.S. ‘third market’ which trades U.S. listed equities away from the exchange floor. Based on the trading authorisation with the Fund, Madoff Securities implements a strategy that consists of a long position in a basket of S&P 100 shares and an index option strategy against these shares (bull spread). Madoff Securities will only enter into this trade if it believes that it can profit. Otherwise, the money is invested in U.S. Treasury-bills.
The Company invests in this low-risk, high-liquidity fund as a vehicle to provide short-term liquidity to fund private equity capital calls. The Fund is continuing to contribute steady monthly returns for the portfolio as intended.
The Company invests in this low-risk, high-liquidity fund [Defender] as a vehicle to provide short-term liquidity to fund private equity capital calls.