regime-adaptive fund
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A portfolio built for a new macro regiME
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The Regime Adaptive Fund is a modern total portfolio strategy.
It blends traditional assets with systematic tactical trading strategies,
designed to deliver resilient returns across different economic and market regimes.
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WHAT is a macro regime and why does it matter?
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A macro regime is the combination of growth, inflation, interest rates and policy conditions that shapes how economies and markets behave. It is not a short-term cycle. It is the structural backdrop against which asset prices are set. And it changes — sometimes slowly, sometimes abruptly.
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The reason it matters for investors is straightforward: assets that perform well in one regime can perform very differently in another. Bonds were excellent diversifiers when inflation was low and falling. Gold was a poor long-term hold during the Great Disinflation. Equities thrived in an era of cheap money and globalisation. None of those conditions are permanent.
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The flaws in most investors' portfolios
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Many investment portfolios are based on the standard 60/40 (equity/bond) approach.
That approach worked well for the era of falling inflation but that regime is now over
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There are three flaws with conventional portfolios.
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1. Equity dominance
Most portfolios look diversified by label but are dominated by equity risk in practice. When markets fall sharply, most assets fall with them.
​2. Broken bond diversification
Since 2020, bonds and equities have fallen together. The bond-equity correlation has flipped — the foundation of the 60/40 is compromised.
3. static allocation
A fixed allocation cannot adapt to changing regimes. It was optimised for conditions that no longer exist and cannot respond when they shift again.
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​how the fund is constructed
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The Regime Adaptive Portfolio takes a modern Total Portfolio approach to asset allocation.
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It blends growth assets and diversifying assets with a meaningful allocation to alternative investment strategies.
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The alternative strategies are tactical and adaptive in nature, adjusting exposure as macro conditions evolve.
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They act as the portfolio’s midfield, actively tilting the portfolio between growth and defence rather than remaining static.
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portfolio risk
Portfolio risk is deliberately balanced:
40% allocated to growth assets, 20% to diversifying assets, and 40% to adaptive strategies.
institutional techniques
Institutional techniques such as return stacking are used to improve capital efficiency.
Total investment exposure of approximately 150%.
greater balance
The portfolio offers more investment exposure but greater balance across assets and strategies
