|
Risk & Governance
Alon Capital is an independent investment manager focused on discretionary macro strategies in emerging markets.
RISK FRAMEWORK
A multi-tiered process
INSTITUTIONAL INFRASTRUCTURE
The Fund operates within an institutional service provider framework that meets the standards required by sophisticated allocators.
Administrator
Maples Fund Services (Cayman)
Custodian
State Street Custodial Services (Ireland)
Auditor
PricewaterhouseCoopers
Legal Counsel
Maples & Calder
TARGETS AND LIMITS
Risk-adjusted performance is the sole measure that matters. The fund is engineered around capital preservation through cycles, with explicit, monitored limits that govern how much risk the portfolio can carry at any time.
15–20%
Net Return Target
Annual objective
2.4%
DAILY VAR (3-SIGMA)
Average daily target
12.5%
VOLATILITY TARGET
Annual budget
7.2%
MAXIMUM VAR
3x Daily average cap
RISK BUDGET
Risk, measured by volatility, is budgeted annually and expressed as 3-Sigma Value-at-Risk. Realized volatility is used to adjust risk parameters dynamically through the year.
If realised volatility runs below the annual target, more of the risk budget becomes available. If realised volatility exceeds the target, the Fund's risk profile is reduced commensurately to maintain the ex-ante annual volatility target.
A maximum risk target of three times the average daily volatility target is imposed. Leverage is monitored on a U.S. 10-Year note-equivalent basis.
Performance data and detailed risk metrics are available on request from qualified investors at ir@alon.capital
Ex-ante and ex-post analysis is conducted at the individual trade level and at the portfolio level. Continuous risk assessment ensures sensitivity to changing risk factors, portfolio liquidity, and portfolio behaviour in stressed market environments, all measured against predetermined limits.
Decisions are made within established frameworks designed to ensure accountability, consistency, and long-term resilience. Capital preservation is the primary objective.