TM Fulcrum Diversified Liquid Alternatives Fund (DLA)

Innovative exposure to liquid, under-represented assets using disciplined impartial implementation to select investments.

investment objectives

0 %
cash + per annum over rolling 5-year periods
4- 0 %
targeted volatility
0
equity beta

investing

Introduction

The TM Fulcrum Diversified Liquid Alternatives Fund (DLA) is an unconstrained, liquid portfolio investing across Real Assets, Alternative Credit and Diversifiers. The objective of the Fund is to generate returns of cash plus 4% per annum over rolling 5-year periods, net of fees, with volatility lower than equity markets.

Critical to the construct of DLA is the integration of Responsible Investing and our disciplined impartial approach to implementation.

We complete detailed research into investment ideas in a nimble fashion, investing through a carefully selected mix of fully active third-party managers, passive strategies and bespoke internally managed themes, which reflect global megatrends such as climate change, demographic shifts and the evolution of technology. There are no performance fees at any level across all investments and no additional layer of fees for internal strategies.

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Key Literature

Factsheet

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Fund Brochure

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Contact

If you have any questions, do contact us and we would be happy to have a chat.

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Investment Universe

Listed Real Assets (40%)

  • Listed Infrastructure
  • Listed Real Estate
  • Liquid Natural Resources

Alternative Credit (40%)

  • Convertible Bonds
  • Emerging Market Debt
  • High Yield Bonds and Loans
  • Securitised Credit

Diversifiers (20%)

  • Equity Long/Short
  • Discretionary and Systematic Macro
  • Event Driven
  • Alternative Beta
  • Relative Value

Investment Philosophy

The market rewards long-term behaviour, both in terms of lower transaction costs, the ability to harvest a rebalancing premium, the often-underappreciated mega-trends such as Climate Change, and their associated thematics. We believe that many long-term themes and investment opportunities are neglected and under-represented in client portfolios and our inquisitive approach to research can help to uncover these. To identify the most compelling opportunities, we assess the fundamental attributes of a particular investment as well as prevailing market sentiment in order to inform our investment decisions across the widest possible range of ideas.

Responsible Investment

We strongly believe that the thoughtful integration of responsible investment considerations will further enhance client outcomes over DLA’s investment horizon. We have explicitly embedded this in our investment process, as one of our Four Key Factors, using a proprietary scoring framework. ESG factors will also typically inform our longer-term, thematic investment idea generation. We measure DLA’s carbon footprint and intensity with the goal of reducing these over time and, where possible, we seek to align DLA’s investments with the UN’s Sustainable Development Goals. 

 

Please see our latest DLA Sustainability Report, which summarises our Responsible Investment voting, carbon footprint and proprietary investment scores

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Collaborating

Leveraging Fulcrum's Capabilities

The Alternative Solutions Team draws on the investment capabilities of Fulcrum’s deep resource of investment professionals, as well as external manager inputs. 

Temple

Macro &
Multi-Asset

Three Gears

Risk Premia

Shield

Alternative
Solutions

Connection to web

Thematic
Equities

Worldwide

Responsible
Investing

The Team

Matt Roberts is the lead portfolio manager for DLA and is Head of the Fulcrum Alternative Solutions (FAS) team. DLA is overseen by the FAS Investment Committee.

Matthew Roberts
Matthew Roberts
Head of Fulcrum Alternative Solutions
Matthew Roberts
Matthew Roberts
Head of Fulcrum Alternative Solutions

Matthew is Head of Fulcrum Alternative Solutions. Before joining Fulcrum in 2018 to run Fulcrum Alternative Solutions, Matthew had been a Portfolio Manager for the Towers Watson Partners Fund since 2014 and before that a manager researcher in fixed income, hedge funds and other alternatives since 2005. Matthew holds a BSc in Economics and Finance (2005) from University of Bristol. He has been a CFA charterholder since 2009.

Contact Us

If you have any questions, do contact us and we would be happy to have a chat.