Welcome to RVX Asset Management

Investment Approach

  • Emerging and Frontier markets provide economic growth and opportunity.
  • Seek to generate alpha while managing volatility.
  • Utilize top-down thematic and bottom-up fundamental research.
  • Use proprietary models to enhance universe definition and research.

Capabilities

  • Equities: Long-only GEMS and Frontier Markets.
  • Fixed Income: Long and Short Corporates and Sovereigns (cash bonds and derivatives).
  • Foreign Exchange: Global developed as well as local currencies.

Firm Overview

  • Composed of 12 professionals, with over 265 years of combined years of experience in equities, corporate and sovereign bonds, FX, operations, compliance and client service.
  • Continuing a 16-year core team history.
  • Management has ownership and private external backing.

We believe Emerging Markets are a primary force for global economic growth and have a multitude of investment opportunities for many years to come.

Our Philosophy

We See Extraordinary Opportunity Across Emerging and Frontier Markets.

  • We believe Emerging and Frontier (E&F) markets are a primary force for global economic growth and can structurally improve a portfolio through diversification and risk adjusted returns.
  • We believe there are E&F market opportunities that are under-followed and under-appreciated, creating opportunities to add Alpha in properly understood situations.

*Sources: Per Morningstar, from 2001 through 2015 the highest performing cumulative fixed income and equity categories were Emerging Market Debt (e.g. the JP Morgan EMBI) and EM Equities (e.g. the Morningstar EM Index.)

We Believe in Risk Managed Investing.

  • We strive to identify multiple risk exposures in our portfolios.
  • Maximum portfolio positions are determined for various categories such as individual securities, country and sector.
  • Management subjectively weighs each investment to balance return objectives versus potential for risk. When in doubt, we endeavour to consistently favour risk mitigation over return maximization.
  • We not only focus on the risk of each position but also overall portfolio risk.

We Establish Client-focused Targets and Communication.

  • We work with clients to determine performance goals.
  • We strive to achieve clients’ return as well as volatility expectations.
  • We endeavor to provide timely and clear understanding and insights into our strategies, markets and performance.

**Sources: IMF Report (12/2015), MSCI (1/2016)

Investment Process

We Invest Using Top-Down Thematic & Bottom-Up Fundamental Approaches.

Top Down Global Approach

  • Monitor global macroeconomic, geopolitical and industry trends.
  • Use extensive global network (i.e. global and local banks or brokers, sell side and buy side relationships) to source new ideas.
  • Isolate long-term value opportunities and price dislocations using proprietary screening methods.

Bottom-up Analysis

  • Execute fundamental analysis of security-specific factors including business financial models, and competitive landscapes.
  • Assess valuation considerations.

Investment Selection

  • Subject to Client Investment Guidelines, select the specific investment and establish a target price, position size and return targets.
  • Strategic investment execution: build/sell positions without impacting the market.

Portfolio and Risk Management

  • Determine potential risks for each asset class and run stress tests for each scenario.
  • Monitor potential macro risks and maintain stringent reporting controls.

THE RVX ADVANTAGE

What makes us different.

Flexibility and Breadth

  • Emerging and Frontier markets are increasingly more complex. Single asset class expertise is no longer sufficient to bring clients sustainable value over time.

Emerging Markets are in our DNA

  • Several members of our management team have both invested in and traveled to Emerging and Frontier countries for over two decades. Many of us have lived in EM countries for a significant part of our lives.

Teamwork

  • Our team is primarily composed of people who have worked together before and have known one another over several years. Senior team members have ownership.

Experience and Perspective

  • RVX’s greatest strength is our combined 140+ year experience in our markets. Having a classically trained economist to provide macro strategy alongside rigorous bottom-up analytical talent truly sets the investment team apart.

Proprietary Technology

  • Equity screening methodologies and valuation models drive the research process and for scale and consistency.
  • Sovereign Credit and Foreign Exchange models.

MEET THE TEAM

Jacques Gliksberg
Chief Executive Officer
Raymond Zucaro
Chief Investment Officer
Cindy New
Cindy New
Managing Partner - Equities
Robin Kollannur
Robin Kollannur
Managing Partner - Equities
Santiago Cuneo
Portfolio Manager & Strategist
Jacqueline Walker
Chief Operating & Compliance Officer
Felix Wong
Chief Risk Officer
Todd S. Jessup
Michael McAdams
Bianca Pileggi
Pia Monaghan

CONTACT