"Alternative Investments Serve an Invaluable Role..."

Alternative Investments

We believe alternative investments, particularly fundamentally oriented strategies, serve an invaluable role in the portfolio construction process. At Bienville, we focus on value-biased strategies—specifically long-short equity and credit, and distressed debt. Additionally, in order to monetize our views, we often employ thematic macro managers whose fundamental analysis is used to identify global imbalances and asymmetric risk-reward opportunities.

Importantly, we tend to avoid strategies reliant on statistical models, mean reversion among securities, arbitrage and strategies that require the use of leverage in order to generate attractive returns. Bienville values understanding exposures on a look-through basis and we therefore generally avoid multi-strategy funds, as well as managers who run overly diversified portfolios.