Brummer Multi-Strategy team adds new systematic macro strategy

Brummer Multi-Strategy has committed to seed a new systematic macro strategy developed by Florin Court Capital LLP, marking an expansion of BMS's multi-strategy platform. The Florin Court Capital Systematic Macro Fund represents a differentiated approach to macro investing by focusing on non-trend, cross-sectional relationships within alternative markets rather than traditional momentum-based strategies. The fund applies both fundamental and technical models across four sectors, targeting liquid asset classes including emerging market interest rates and diverse commodities.

FCC has been operating and refining its systematic models for decades, with these proprietary algorithmic approaches having been traded within the FCC Programme for several years prior to the formal fund launch. This extended track record provided BMS with sufficient validation to commit capital to the new vehicle. According to Kerim Celebi of Brummer Multi-Strategy, the team has conducted years of due diligence on the models, observing risk-adjusted performance that meets expectations while maintaining low correlation to both BMS's existing strategies and broader market risk factors.

The strategic rationale for the allocation centers on portfolio diversification. BMS currently allocates capital across long/short equity (62%), systematic trend-following (25%), and now the new systematic macro strategy. Doug Greenig, CIO of FCC, emphasizes the fund's distinctive characteristics, noting its low correlation to "virtually everything, including CTAs"—a meaningful differentiation in a crowded systematic strategies landscape. This uncorrelated return profile is particularly valuable within a multi-strategy fund structure where diversification drives risk-adjusted performance.

The Florin Court Capital Systematic Macro Fund addresses an underserved segment of the systematic macro market by explicitly avoiding trend-following mechanics and instead exploiting cross-sectional relative value patterns. This approach enables the strategy to generate returns across varied market conditions, including scenarios where traditional trend-following or discretionary macro strategies may underperform. The seeding by BMS, a sophisticated multi-strategy allocator, provides FCC with institutional capital to operationalize the strategy at scale while validating the models' competitive positioning within the alternative investment marketplace.