The Macrina One Fund

At a glance...

In process of being established, the Macrina One Fund will be managed on the basis of:

  • Tracking and outperforming the industry benchmark ROBO Global® Robotics and Automation Index
  • Re-balancing weightings in benchmark constituents based on proprietary approaches so as to maximise continuous returns
  • Making specific non-benchmark investments in opportunities targeted at achieving significant additional returns
  • Taking advantage of special situations or shorter term opportunities, such as pre-IPO investments and M&A situations

The Fund will be based in a tax advantageous, yet fully regulated jurisdiction, with:

  • Regulatory oversight by the FCA in the UK
  • Independent governance and auditors for fund transactions and valuations
  • Full “triple authorisation” for any investment, funds transfer or distributions
  • Completely outsourced and professionally managed back-office, investor relations and custody / settlement functions

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.

Combining indexing, selection and special opportunities

The Macrina One Fund will employ the following approach to investments:

  • Rebalancing weightings of Index constituents when it is believed a particular Index constituent is likely to over-perform in relation to its assigned weighting in the Index
  • Making direct investments in companies not in the Index, including acquiring direct equity stakes in privately held or quoted companies relevant to the target sector
  • Tailored financing arrangements, such as obtaining rights or options to acquire equity in target companies in the future, or to sell these in the market
  • Active mentoring, rationalising, restructuring and facilitating activities between companies invested in to achieve synergistic savings, increased market opportunities and accelerated advances in research and applications
  • Bringing privately held companies to market directly or in conjunction with other market participants
  • Achieving access to pre-IPO opportunities in companies in the sector which are deemed to offer above Index returns

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 Strategy: A phased approach

Phase 1: Mirroring the Index


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:

  1. Tracking the overall performance of the sector, as represented by the 92 constituents of the Index
  2. Providing MIM with analysis and research opportunity for subsequent re-balancing of Index constituents
  3. Ensuring that the One Fund's investments in privately held companies are conducted in a considered manner, without undue time pressures

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. 

Phase 2: Rebalancing Index constituents

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:

  • Advanced micro-analytical methods, including the application of proprietary AI and non-AI algorithms to stock selections, portfolio modelling and sub-industry trend analysis

  • Deep, ongoing fundamental financial analysis of each Index constituent and the market as a whole so as to provide differentiation between holdings, using classical macro-economic valuation approaches
  • Clear terms of reference for decision making based on proprietary understanding of industry and its growth
  • Direct involvement of Advisory Board in overseeing re-balancing decisions and advise on market, industry tendencies and new technological developments
  • Timed re-balancing exercises so as to maximise returns, while minimising transaction costs

  • A “total portfolio exposure” approach to risk management between target sub-sectors so as to avoid over-dependence on specific sub-sector volatility and risk
  • Clear terms of reference for decision making based on proprietary understanding of industry and its growth

Rebalancing will be an ongoing exercise, although the One Fund's direct exposure to the Index will decline as non-Index investments are made.

Phase 3: Investments outside the Index

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.