Global Macro Fund – River and Mercantile

R&M Global Macro Fund

The fund is run on a systematic basis and aims to achieve double-digit annualised returns over a cycle with positive returns in equity market drawdowns. The approach used means the fund is likely to be uncorrelated to traditional assets and its peer group

Why R&M Global Macro Fund?

This macro team has a fundamental understanding of rotating capital across the full asset class spectrum and has the added benefit of a dedicated derivatives team.

The macro approach combines investment expertise across macro, security selection and hedging, with our ability to understand client needs in depth to build portfolio components that achieve specific objectives with a focus on reducing recovery time.

This fund is managed by a dedicated, award-winning team, who have been managing multi-asset portfolios since 2003.

Investment strategy

The Fund aims to seek to achieve double-digit annualised returns and positive returns in significant risk asset drawdowns with Sharpe ratio greater than 1.

It seeks to achieve this through systematically combining macro and motion signals to a range of liquid asset classes. We believe this strategy has a competitive advantage over other global macro strategies, because of its ability to capture significant equity and risk asset returns when they are available, while avoiding them when they are not.

Two of our core beliefs underlie the fund:

Highly efficient returns are achieved by varying the size of positions in proportion to the confidence in the position.

Confidence in a position is greatest where the prevailing macro drivers of the investment are consistent with the way the market is behaving –what we consider to be motion. Confidence is least where these macro drivers and motion are inconsistent.

About the fund managers

Mike Faulkner
CIO

Mike founded P-Solve in 2001 and served as its chief executive officer until the merger with R&M Asset Management LLP in 2014. Under his direction, P-Solve was one of the first institutional advisers in the UK to offer fiduciary management to pension schemes. Mike has 22 years of consulting and asset management experience. He was ranked number one in the Financial News category of Europe's most influential asset managers and included in the overall top 10 in its FN 100 Most Influential annual survey in 2011. Mike is a Mathematics graduate from Imperial College, London.

Joe Andrews
Portfolio Manager, Macro strategies

Since joining R&M in 2012, Joe has worked in the team responsible for delivering the fiduciary management service. Currently Joe is a member of the Macro Committee, which is responsible for setting house views for all R&M Fiduciary and Advisory clients. He also co-manages the Research & Development process responsible for idea generation and ensuring the regular and detailed monitoring of macro themes, client portfolios and underlying fund allocations as well as ongoing research into new investment products and strategies.