Global Macro
Discretionary and systematic macro positioning across G10 FX, rates and commodities; thematic views held for 6–18 months.
Pillar III
Capital Markets
Systematic deployment of capital across global liquid markets, utilising proprietary risk-parity models and multi-strategy frameworks to generate uncorrelated return streams and preserve portfolio-wide resilience.
Investment Thesis
The Firm's Shock Absorber & Opportunity Engine
We run liquid books alongside the illiquid pillars. The Capital Markets pillar provides daily liquidity, hedging capacity, and uncorrelated return streams - it is the mechanism by which BOTA can act swiftly when dislocations arise elsewhere in the portfolio.
All strategies are systematic and rules-based with human oversight at the portfolio level. This discipline prevents drift during volatile regimes while preserving the flexibility to overlay discretionary thematic views at the macro book level.
Since 2016 we have navigated several significant market events — including the February 2018 vol spike, the March 2020 COVID dislocation, and the 2022 rate-shock cycle — each of which has sharpened our risk protocols. The book remains small and deliberately limited; the founding partners invest their own capital alongside the families we serve.
“Liquidity is not just a feature - it is an asset class in its own right. The capital markets book turns daily marks into a strategic resource for the entire firm.”
Strategies
Four-Pillar Strategy Architecture
Long / Short Equity
Fundamental long/short across global equities; concentrated 20–30 name book with hard 15% single-name cap; bias towards industrials, energy, and financials.
Systematic Trend
Rules-based CTA-style strategy across 40+ liquid futures markets; designed to perform in crisis and trending regimes.
Volatility & Relative Value
Volatility arbitrage and cross-asset relative value; functions as a carry engine in stable environments and a hedge during dislocations.
Infrastructure
Execution Infrastructure
Discretionary Managed Accounts
The liquid book is managed on a fully discretionary basis for the families we serve, held in each family's own segregated account rather than a commingled fund. The founding partners invest their own capital alongside every mandate, so interests stay fully aligned.
Execution via Interactive Brokers
Equities, bonds, ETFs, and FX are executed through Interactive Brokers, chosen for its multi-currency, multi-market capabilities at a cost structure appropriate for a boutique office of our scale.