Summary

The Numberline Macro Risk Program gives investors exposure to a risk asset (equity index) while using other risk assets (FX, Rates, metals, energy) to hedge. While there are many funds that use volatility to hedge, we take a more tactical approach that offers less drag on performance. The result is a strategy that offers consistent returns throughout the entire economic lifecycle including during risk off events and recessions. Overall, there is virtually zero correlation to the S&P 500, trend following or risk premia strategies. While discretion is used to structure positions, there is a strict quantitative framework developed over the last 14 years that underlies the decision-making process for both asset selection and risk control.