In process of being established, the Macrina One Fund will be managed on the basis of:
The Fund will be based in a tax advantageous, yet fully regulated jurisdiction, with:
The Fund will commence with AUM of GBP£50M to £100M and is intended for professional or high net worth (exempted) investors and not the general public.
The Macrina One Fund will employ the following approach to investments:
Through this combination of investment strategies, supported by MIM's Team and Advisory Board, the One Fund is targeted to outperform the Index over its lifetime. To achieve this a carefully constructed phased approach to investment forms the underpinning to results.
The One Fund will be benchmarked to the ROBO GLOBAL® ROBOTICS & AUTOMATION INDEX and achieve this initial exposure through the use of the Index's market traded ETFs.
As a result, at the outset of the One Fund's life, funds will be initially entirely invested in these ETFs with the aim of:
This approach allows investors to maintain a consistent exposure to the AI and Robotics sector, while enabling MIM to focus on achieving out-performance of this Index.
The intended duration of the One Fund being singularly reflective of the Index is up to the first six months of operation. Thereafter the One Fund will have been re-balanced to take full advantage of MIM's capabilities and understanding of the sector.
To achieve above Index returns the Macrina One Fund will not be constrained by the same investment approach and allocations imposed on the Index.
MIM will therefore re-balance One Fund portfolio constituents on an ongoing basis using:
Rebalancing will be an ongoing exercise, although the One Fund's direct exposure to the Index will decline as non-Index investments are made.
The Macrina One Fund will also make direct investments in opportunities that are not included in the Index, such as in privately held or non-quoted companies.
MIM will identify and evaluate investment targets through ongoing industry research, attendance of dedicated conferences and events, specialist third party meetings and, importantly, Advisory Board recommendations.
Potential investment candidates will be considered by applying proprietary structured evaluation methodologies which encompasses wider industry trends, specific market and detailed financial analysis, as well as MIM's deep understanding of this sector.
As the portfolio of such investments increases, focus will also be given to companies which present synergistic opportunities with existing holdings, so as to develop an ecosystem in the sector and maximise sustainability and returns for each investment holding.
Investments made will be balanced between more established companies and early stage innovators, with a continuous review of the potential overall impact of each new investment on total portfolio exposure and risk profile.
Each direct investment will be evaluated for its potential to go public or be sold to larger industry participants, with reviews occurring throughout the time the investment is held.
For each investment made outside of the Index, a specific development and exit strategy will be devised, evaluated and agreed in conjunction with the target company’s own management team.
MIM also liaises with specialist corporate investment units on an ongoing basis with the aim of periodic disposition of One Fund assets.
Close attention will also be paid to potential IPO opportunities arising in the sector, so as to optimise medium and short term returns with longer term fund growth targets.