Ironbark GCM Global Macro Fund

About this Fund

Fund Detail

PDS https://informedinvestor.com.au/view/pds/100421-2022-10-01-02:29.pdf
FUND MANAGER K2/D&S Management Co., L.L.C.
ASX Code
INVESTMENT STYLE The Fund invests in a diversified range of alternative investment funds globally.
INVESTMENT PROFILE The Fund seeks to deliver consistent returns with low volatility and low correlation to traditional equity and debt markets.
CURRENCY MANAGEMENT Passive management
FEES 0.97% p.a. of the NAV of the Fund



Benefits of investing in the Ironbark GCM Global Macro Fund    

  • An attractive portfolio diversifier which is designed to be lowly correlated to traditional debt and equity markets, along with other alternative strategies
  • Seeks to deliver consistent returns with a targeted volatility of 10%
  • Provides a diversified alternative exposure by investing across four key strategy areas that each behave differently in various market environments

Risk level

Medium-High (SRM 5)

Investor suitability

An investment in the Fund is best suited to investors who seek returns from alternative investments and accept the risk that these returns can be volatile. There is a risk that investors may lose some or all of their investment. Investments may fluctuate in the short term. This Fund may not be suitable for you if you are seeking regular and consistent income distributions.




Key Features

About the Fund

The Ironbark GCM Global Macro Fund provides investors a quantitative macro strategy that captures diversified sources of alpha across global equities, bonds, currency and commodity markets; which they would otherwise not ordinarily be exposed to.

Investment strategy

The Fund is a single manager fund that invests in the IB share class of the GCM Fund through 5 the K2 Platform. As the Underlying Manager, Graham Capital Management has been engaged by K2 Advisors pursuant to a sub-advisor agreement to implement the GCM Fund's investment strategy.

Investment program

The Fund provides access to a systematic global macro strategy trading a broad universe of global futures and foreign exchange markets across currencies, stock indices, commodities, and fixed income.

The GCM strategy is a directional, long and short strategy that utilizes fundamental and price-based indicators to establish return forecasts across global interest rates, foreign exchange, stock indices and commodities.

The strategy is further enhanced by Graham Capital Management's portfolio construction process, which helps manage the overall diversification and risk profile of the portfolio.


How we invest your money

Investment process

Graham Capital Management's Quantitative Strategies team takes a scientific, data-driven approach to designing and developing trading models. The team works in a collaborative environment that emphasises creative thinking and academic rigor in ongoing research projects. Initial ideas for trading models, portfolio construction and risk management are built on solid theoretical foundations. Ideas are analysed and improved through a rigorous research process, which incorporates constant peer review, and iterative feedback as the concept develops. The team determines whether the new idea will meet the strategic objective of materially improving a current portfolio and will be implemented accordingly. The firm believes that a multi-disciplined team can lead to innovative ideas and robust results. Graham Capital Management's Quant Researchers have advanced degrees across many disciplines, including electrical and chemical engineering, computer science, natural sciences, finance, mathematics, cryptology, signal processing and statistics.

The Fund will not use derivatives, leverage or short selling as part of its investment strategy. However the GCM Fund in which the Fund invests may use leverage, derivatives and short selling to generate returns or as part of its investment strategy.

Investments held

The Fund will aim to achieve its objective through investing in a quantitative investment program with a directional, long and short systematic strategy that utilises fundamental and price-based indicators to establish return forecasts across global interest rates, foreign exchange, stock indices and commodities.

Permissible investments

  • Equity index futures,
  • Interest rate futures and swaps,
  • Bond futures,
  • Currency futures, spots and forwards,
  • Commodity futures, forwards and swaps,
  • Over-the-counter look-alike instrument's such as exchange-of-futures-for-physicals (EFPs') and contracts for difference (CFDs'), and
  • Cash

Investments not permitted

Physical commodities such as gold, copper or silver. However Graham Capital Management may purchase and/or sell commodities futures contracts, and may invest in securities backed by physical commodities and derivatives on securities backed by physical commodities.