Institutions & Family Offices
We work with Registered Investment Advisors, family offices, broker-dealers and foundations to provide specialized investment management services. We primarily serve entrepreneurial or independent institutions seeking a manager with a niche expertise. We manage liquid alternatives in a separately managed account format, allowing for complete transparency.
At RVP, we apply institutional-level analysis to markets that are typically dominated by retail investors. This approach is then overlaid with thorough risk management, with a goal of providing good risk-adjusted returns. Specific strategies include:
What is a “relative value” approach?
We believe an investment’s attractiveness cannot be viewed in isolation. You must consider risk, liquidity and expected return relative to the many opportunities across the investment landscape.
Our asset allocation approach is grounded in Modern Portfolio Theory, which suggests risk can be managed and returns optimized through proper diversification. We apply our same relative value rigor to asset class analysis, building diversified and customized client portfolios reflecting historic volatility, returns and forward-looking return expectations.
Absolute Return Strategy
Our Absolute Return Strategy is designed with a goal of providing a positive return regardless of the returns of the broad market indices. It can be broadly classified as market neutral and will consist of hedged equity and fixed income. The portfolio is constructed primarily with equity and fixed income closed-end funds.
The primary goal is to take advantage of the inefficiencies in the closed-end fund market. We believe through a combination of intense focus and extensive research of the closed-end fund market, that inefficiencies can be exploited to generate meaningful alpha.
Durable Opportunities Strategy
Our Durable Opportunities Strategy is an income-oriented strategy that invests in exchange traded, income-producing alternative equities such as BDCs, mortgage REITs, fixed income closed-end funds and preferred stocks. The goal is to outperform the Barclays U.S. Corporate High Yield Index. Portfolios are constructed using a relative value approach that maintains portfolio diversity with a keen focus on interest rate risk, seniority in the capital structure, tax efficiency, financial structures and discounted valuations to cash flow and book value
Fixed Income Strategy
Our Fixed Income Strategy focuses on maintaining an average credit quality of investment grade and providing excess carry. The goal is to exceed the return of the Barclays Aggregate Bond Index. This portfolio is constructed using primarily closed-end funds and ETFs. We actively manage the closed-end fund weighting in the portfolio and will shift the strategy into more closed-end funds when we believe they offer superior risk reward compared to comparable ETFs.
Limited Duration Strategy
Our Limited Duration Strategy is similar to our original Fixed Income Strategy, yet it maintains a shorter duration (typically less than 2.5 years) and a higher percentage of below investment grade credit. It is benchmarked against the Barclays 1-5 year Corporate Bond Index, and like our Fixed Income Strategy, is comprised primarily of closed-end funds and ETFs.
Contact us to obtain returns and factsheets.