Insights
Insights & Updates
Articles on how this fund is run, alongside the reports and notices published to investors.
CommentaryInvestors
Treasury Is a Position, Not a Waiting Room
Cash and short-duration government paper are often treated as where money sits between ideas. We treat them as an allocation with a job, a cost, and a size that is chosen rather than left over.
5 min read
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Rebalancing Is a Discipline, Not a Forecast
The fund rebalances across macroeconomic regimes. That phrase promises a lot. Here is what it means in practice, what triggers a change, and what we refuse to do in its name.
5 min read
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Why NAV per Share Is the Number to Watch
A pooled fund has one honest yardstick. Here is what net asset value per share measures, what it deliberately ignores, and why we report nothing else on the front page.
5 min read
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