Sean C. George

HBK seeks to generate superior risk-adjusted rates of return with relatively low volatility and with relatively low correlation to most major market indices. The firm may invest through both long and short positions in an unlimited range of securities, derivatives and other financial instruments throughout the world. They are not subject to any specific restrictions on asset type, industry, geographic market, concentration, and leverage, exposure to market risk or other portfolio characteristics.

Drake specializes in active global fixed-income strategies. They manage both benchmarked and absolute return oriented portfolios. Absolute return offerings include a multi-sector, primarily fixed-income oriented strategy; a global macro, opportunistic fund; and a short maturity, carry oriented strategy. Benchmarked mandates include US and global bond fund strategies which can be tailored to meet the needs of institutional investors. Drake's investment strategies are based on the principle of diversification and exploiting the performance advantages of managing a relatively smaller aggregate asset base with a flexible investment process. They believe that no single risk should dominate returns. By diversifying a portfolio or employing multiple sources of value added, Drake seeks to generate attractive excess returns with reasonable variability within the context of the market environment. They look to add value through the use of top-down strategies such as actively managing a portfolio's exposure to interest rates, changing market volatility, yield curve positioning and sector rotation. The firm also employs bottom-up strategies involving the relative analyses of comparable instruments and selection of specific securities. By combining investment styles and focusing on both portfolio level and security level strategies, Drake attempts to position client portfolios and their funds to benefit from attractive excess returns while incurring acceptable levels of risk. Drake's investment process is designed to construct portfolios that integrate longer-term secular economic trends with sector / security level analyses. The first step is the formulation of the Drake View which involves harnessing the collective input of the portfolio management team and international research offices. This unique market view serves as the basis for investment decisions and sector allocations made across all of Drake's portfolios, regardless of the product. In developing the Drake View, the portfolio management team places significant emphasis on understanding and monitoring long-term or secular influences on the world economy and financial markets. Using the Drake View as the fundamental backdrop, Drake's sector teams then identify assets whose current value is inconsistent with the themes inherent in the Drake View. These opportunities are then implemented by the various sector teams, who are also responsible for monitoring and adjusting portfolio positioning as market conditions evolve. Having identified a set of positions, the portfolio management team applies their best forecast of expected return over the relevant time horizon. This varies with the type of position, with some having an intra-day horizon and others having up to a one-year time frame. Volatilities are then assigned, allowing the creation of ex-ante Sharpe ratios for the different strategies. The positions with the best risk return trade-off (highest Sharpe ratios) tend to be the larger risk positions.

Functions as a College/University

Functions as a College/University

Amida Capital Management employs relative value and convertible arbitrage investment strategies. Investments are based on in-depth fundamental research which identifies long, short and relative value opportunities. Each investment has a catalyst expected to drive the revaluation of mispriced securities or derivatives within a defined time horizon. They invest both long and short, in a broad range of equity and credit products, including common stock, preferred stock, convertible bonds and preferred stock, corporate bonds and other fixed income instruments (such as high yield instruments), unrated debt securities, bank debt, trade claims and fixed-income securities and may also utilize ETFs and other index products to gain or diminish exposure to various asset classes. Amida advises on the usage of derivative instruments, including exchange-traded and over-the-counter credit default swaps, options, futures, currency swaps, interest rate swaps for efficient portfolio management and a variety of other derivative instruments convertible into or related to such securities for investment or efficient portfolio management (including hedging) purposes. The firm advises on securities trading that takes place on U.S. and non-U.S. exchanges and over-the-counter markets, and may include securities of entities in developing countries, U.S. and non-U.S. government debt instruments.