Key Takeaways
- • AVM Global Opportunity Fund delivered a Sharpe ratio above 1.5 since its November 2016 inception, maintaining single-digit volatility while employing less leverage than peer macro strategies, demonstrating strong risk-adjusted performance aligned with capital preservation objectives.
- • Assets under management nearly doubled over the past year to exceed $160 million, reflecting institutional demand for the fund's data-driven, bias-elimination approach to global macro positioning across North America, Europe, Asia, and emerging markets.
- • Founder and CIO Ashvin Murthy was recognized in The Hedge Fund Journal's 2022 Tomorrow's Titans report, and the AVM Global Opportunity Fund won awards at The Hedge Fund Journal CTA and Discretionary Trader Awards 2022, validating the strategy's execution and market relevance.
- • The fund maintains broad market access through ten ISDA counterparties with prime brokers JP Morgan and Societe Generale, enabling opportunistic positioning across asset classes and geographies without structural long or short bias.
- • As of August 2022, Asia represented the largest portfolio sleeve due to the fund's Singapore location, with recent positioning aligned to support Singapore monetary authority objectives in currency management and inflation control.
Summary
AVM Capital's Global Opportunity Fund has established itself as a disciplined opportunistic macro strategy since its November 2016 launch, achieving performance metrics that exceed industry norms for risk-adjusted returns. The fund delivered a Sharpe ratio above 1.5 while maintaining single-digit volatility—a profile that reflects founder and CIO Ashvin Murthy's engineering and financial engineering background combined with his 15-plus years of sell-side experience in fixed income, currency structuring, and proprietary trading across UBS and Natixis in major financial centers including London, Singapore, Switzerland, and Hong Kong.
The fund's growth trajectory has accelerated materially, with AUM nearly doubling in the previous 12 months to surpass $160 million as of October 2022. This capital inflow reflects institutional recognition of AVM's data-driven investment process designed to eliminate cognitive bias from positioning decisions. Murthy emphasized the strategy's agnostic approach to directionality: "We have no bias to be long or short. The positioning has been driven by what we see as best risk reward based on the world and economic data." This framework enables the fund to navigate volatile macro environments without predetermined market views, instead dynamically adjusting exposures based on changing risk-reward configurations.
Operationally, AVM maintains significant infrastructure depth with ten ISDA counterparties across global investment banking relationships, specifically JP Morgan and Societe Generale serving as prime brokers. This broad counterparty access supports the fund's ability to execute opportunistic trades across North America, Europe, Asia, and emerging markets. Notably, the fund employs materially less leverage than comparable macro strategies while maintaining competitive returns, a distinction that appeals to institutional investors prioritizing capital preservation alongside performance.
Geographic positioning is opportunistically driven by relative value rather than fixed allocations. As of August 2022, Asia represented the largest portfolio sleeve, reflecting both the fund's Singapore domicile and tactical positioning aligned with regional monetary policy developments. Murthy's recent positioning accommodated Singapore monetary authority initiatives to support the local currency and counter inflationary pressures, exemplifying the strategy's responsiveness to macroeconomic data flows and policy frameworks.
AVM Capital's recognition as a rising star manager underscores the market's validation of its disciplined approach, with Murthy featured in The Hedge Fund Journal's 2022 Tomorrow's Titans report and the AVM Global Opportunity Fund receiving awards at The Hedge Fund Journal CTA and Discretionary Trader Awards 2022.
The fund's growth trajectory has accelerated materially, with AUM nearly doubling in the previous 12 months to surpass $160 million as of October 2022. This capital inflow reflects institutional recognition of AVM's data-driven investment process designed to eliminate cognitive bias from positioning decisions. Murthy emphasized the strategy's agnostic approach to directionality: "We have no bias to be long or short. The positioning has been driven by what we see as best risk reward based on the world and economic data." This framework enables the fund to navigate volatile macro environments without predetermined market views, instead dynamically adjusting exposures based on changing risk-reward configurations.
Operationally, AVM maintains significant infrastructure depth with ten ISDA counterparties across global investment banking relationships, specifically JP Morgan and Societe Generale serving as prime brokers. This broad counterparty access supports the fund's ability to execute opportunistic trades across North America, Europe, Asia, and emerging markets. Notably, the fund employs materially less leverage than comparable macro strategies while maintaining competitive returns, a distinction that appeals to institutional investors prioritizing capital preservation alongside performance.
Geographic positioning is opportunistically driven by relative value rather than fixed allocations. As of August 2022, Asia represented the largest portfolio sleeve, reflecting both the fund's Singapore domicile and tactical positioning aligned with regional monetary policy developments. Murthy's recent positioning accommodated Singapore monetary authority initiatives to support the local currency and counter inflationary pressures, exemplifying the strategy's responsiveness to macroeconomic data flows and policy frameworks.
AVM Capital's recognition as a rising star manager underscores the market's validation of its disciplined approach, with Murthy featured in The Hedge Fund Journal's 2022 Tomorrow's Titans report and the AVM Global Opportunity Fund receiving awards at The Hedge Fund Journal CTA and Discretionary Trader Awards 2022.
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