Trium Capital, a London-based alternative investment specialist, has hired industrials specialist Jonathan Ingram to manage a new developed market, industrials-focused equity market neutral strategy.
Ingram’s appointment is one of several recent high-profile hires for Trium, as the group prepares to unveil a broader proposition to investors.
The Global Industrials strategy will be run using a systematic ‘value catalyst approach’. It relies on deep fundamental analysis to identify price and value dislocations, in order to capture relative arbitrage opportunities within a sector – thereby ensuring low correlation to the market.
Ingram has worked on industrials-focused hedge fund strategies for 15 years, managing industrial market neutral strategies at leading asset managers including BlueCrest, Visium and HBK, delivering high alpha returns with a low volatility profile. Prior to this, Ingram developed in-depth understanding of company operations and reporting as a Group Accountant for industrial conglomerate Invensys plc.
Compared to traditional market neutral strategies that hold a book of longs and a book of shorts, Ingram’s strategy is structured differently, with 25-30 individual long/short strategies within the portfolio. These baskets of long and short trades each reflect a theme or valuation dislocation, and hedge out various drivers of company performance dynamics to build a truly market neutral exposure.
Ingram says: “In a period of elevated volatility, the opportunity set for this strategy is extremely attractive. The QE unwind process has created a massive dislocation ripe for exploitation. Valuations were pushed beyond justifiable levels and are now returning to more realistic levels. Fundamental analysis and proper appraisal of risk and reward, which have always been my focus, are coming back to the fore.
“I have been deeply impressed by Trium and the entrepreneurial drive and positive dynamics of the team. I am excited to contribute to the firm’s positive momentum and work alongside other talented managers.”
Shenan Dhanani (pictured), co-head of Trium Capital, adds: “In the current climate of market dislocation, there is high demand for a market neutral, high alpha strategy with a sector specialism. Trium wants to be at the forefront of this movement, hiring top emerging talent in this field. Ingram’s expertise in industrials and his proven strategy will strengthen our suite of sophisticated products.”
