Investment Philosophy

Field Street Capital Management
Global Macro & Fixed Income Investing
Founded in 2007 by CIO Rod Gancas
Offices in New York and Monaco

The firm’s investment mandates are tailored to each individual client, but Field Street’s principal investment objective is consistent across products: deliver attractive risk-adjusted returns that are uncorrelated with the performance of traditional asset classes over an investment cycle. To accomplish this objective, Field Street seeks to maintain a consistent investment philosophy and process combined with a carefully designed risk management framework to help mitigate performance drawdowns. The following principles are central to the firm’s investment philosophy:

 

  • Value-focused;
    Field Street monitors financial markets in search of securities with absolute or relative prices that appear inconsistent with their fundamental value. These dislocations are often driven by demands for liquidity from institutional investors that can be motivated by non-economic factors such as differing laws, regulation, or investment objectives
  • Trading-oriented;
    the firm typically employs a short- to intermediate-term investment horizon. The dynamic factors driving a trading opportunity are evaluated to focus on trades that are likely to revert given reasonable time horizon. Thematic views can impact trade selection, but the firm prefers to avoid long-term directional trades
  • Diversification;
    each product is built with sub-portfolios focused on different markets and strategies. Field Street tries to avoid the concentration risk associated with a single dominant trade or theme. Within a sub-portfolio, the firm seeks to identify packages of trades that individually offer compelling risk adjusted returns, but are expected to be uncorrelated or negatively correlated in most markets
  • Opportunistic capital allocation;
    Field Street believes that investment opportunities arise over time, but the size and shape of those opportunities evolves. The firm dynamically changes the overall risk profile of its products, and will shift exposure toward the strategies that offer the most compelling opportunities