Omni Event follows an actively traded global event-driven strategy with a focus on equity and equity-related securities of companies undergoing significant corporate actions and other hard catalyst events.
The strategy's mandate is event-driven in the truest sense, with Omni Event investing predominantly in announced transactions. CIO, John Melsom, strives to enter the best risk/reward trades without being constrained by pre-defined geographic or industry exposure requirements. John targets events that he believes have a high degree of certainty and will increase Omni Event's exposure to these events as their outcomes become clearer.
Omni Event's investment portfolio is built opportunistically, and its composition at any given time depends wholly on the available set of investable events in the market. In constructing the fund's portfolio, the investment team monitors a broad range of events in equity markets around the world and distils the global opportunity set to those events offering the best risk/reward profile. During this process, the Omni Event team seeks to become experts on the nuances of each trade by conducting research on all relevant variables surrounding each event, including the following:
Technical aspects of the transaction
Legal and regulatory issues
Broader corporate landscape
Overall macroeconomic environment
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Actively managing downside risk is vital in the delivery of consistent absolute returns. It is the investment team's key belief that the market will always offer opportunities to make profits, but it is the avoidance of loss that is paramount in maintaining consistently positive performance.
As a result of the thorough research and analysis that the investment team undertakes, the CIO is able to acquire strong conviction in the transactions in which he invests. This results in a relatively concentrated portfolio, where a limited number of positions constitute most of the risk in the portfolio.
Downside risk is mitigated by the use of a full range of risk management approaches including hedging positions, setting position size limits based on potential loss, employing tight stop-losses (including hard stops) and cutting positions in the event of inexplicable or exceptional share price movement.