SA2 Advisors LLP : SA2 Bellwether Core

Summary

SA2 Bellwether Fund is a Global Discretionary Macro Fund managed by SA2 Advisors LLP which based in London, England.

Investment Strategy

SA2 Advisors’ CEO and Chief Investment Officer is Robert Page. Robert has more than 20+ years’ experience in institutional trading and investing. SA2 employs fundamental analysis such as forecasting and risk models to identifying opportunities globally. The fund primarily trades in equity and fixed income markets.

Risk Management

Master Fund Level Stops Risk limits are independently monitored by the Investment Manager. Strict fund-level stop loss rules are maintained as follows STOP No. 1 – Down 6.0% If the Master Fund’s trading profits are down 6% on a month-end basis as measured from the previous 31 Dec for the U.S. Dollar-denominated Class A Core Shares only, then the portfolio is liquidated to cash for a minimum period of one (1) month. Paper trading is calculated from the cessation of trading, before liquidation costs. The manager will re-start at the next month end where the paper trading calculations would place them above the stop. Thereafter, trading will resume with a new lower stop at down 6.0% minus the paper trading profit. If, for whatever reason (including non-existence), the Class A Core Shares were not valued on the previous 31st December, then the Manager shall estimate such 31st December value for this STOP calculation STOP No. 2 - Down 10.0% If the Master Fund’s trading profits are down 10% on a month-end basis as measured from the previous 31 December for the U.S. Dollar-denominated Class A Core Shares only, then the portfolio is liquidated to cash for a minimum period of two (2) months. The manager will re-start following the two-month period end where the paper trading calculations would place them above the stop. Thereafter, trading will resume with a new lower stop at down 10% minus the paper trading profit. If, for whatever reason (including non-existence), the Class A Core Shares were not valued on the previous 31st December, then the Manager shall estimate such 31st December value for this STOP calculation. The Investment Manager may extend each stop period. In addition, the Directors will periodically review the Master Fund’s stop level and may, in their sole discretion and without notice to shareholders, revise the levels. SA2 has its own forecast for risk at the instrument, asset class and portfolio levels but the risk is ultimately determined by the manager.SA2 Advisors runs a daily risk report which considers daily and 5 day historical VAR, sensitivity analysis, exposures to FX risk, country exposure and variance of returns.etc