Lynx Asset Management: Platform Profile

Overview

Lynx Asset Management AB is a Stockholm-based quantitative manager founded in 1999.

Current identity:

• Legal manager: Lynx Asset Management AB
• NFA ID: 0430642
• CTA: Yes
• Swedish AIFM: Yes

Current first-party homepage reports:

• Public AUM: about $7B

May fit better for

• investors seeking systematic managed futures;
• investors comfortable with monthly fund liquidity;
• sophisticated allocators seeking multi-model trend exposure;
• investors who value a long live track record;
• non-U.S. investors evaluating the Swedish fund;
• U.S. qualified investors evaluating an eligible Lynx access route.

May fit less well for

• small accounts;
• investors who need daily fund liquidity;
• users who assume every Lynx vehicle charges the same incentive fee;
• clients seeking a simple retail U.S. mutual fund;
• investors uncomfortable with futures, FX forwards and swaps;
• users who interpret low correlation as guaranteed crisis gains.

The Lynx Program is trend-led but not trend-only

Current first-party description:

• Flagship: The Lynx Program
• Launched: 2000-05
• Systematic trend following primary: Yes
• Complementary models: Yes

A portion of risk is allocated to complementary models designed to improve performance in non-trending environments.

The Swedish Lynx Fund currently publishes SEK 500,000 / 1% / 20%

Current first-party fund materials:

• Minimum initial investment: SEK 500,000
• Management fee: 1% p.a.
• Performance fee: 20% over hurdle rate and high-water mark
• Subscription redemption fee: 0%
• Liquidity: monthly
• Custodian: SEB

Keep these terms attached to the Swedish fund route.

IASG publishes a different program reference

Current IASG:

• Minimum investment: $250,000
• Management fee: 1%
• Performance fee: 18%

Monthly liquidity is not daily liquidity

Current fund materials describe monthly dealing.

The actual deadline and settlement terms belong to the fund documents.

The investment process is fully systematic

Current first-party approach:

• Fully systematic: Yes
• Systematic signal generation: Yes
• Systematic risk management: Yes

The firm still uses human researchers and an investment committee to design, test, approve and evolve models.

Current derivative universe is broad

Current sustainability/legal materials state strategies can use:

• exchange-traded futures on equity indices;
• fixed income;
• commodities;
• currencies;
• OTC FX forwards;
• interest-rate swaps.

The current AUM figure is approximate

Current first-party homepage:

• Public AUM: about $7B

Assessment

Lynx has one of the cleaner strategy descriptions in managed futures and one of the more important fee-source conflicts.

The current Swedish fund materials support:

SEK 500K minimum + 1% management + 20% over hurdle/HWM + monthly liquidity.

IASG supports a different:

$250K + 1% + 18%

reference.

ROIStreet should preserve both with vehicle context rather than manufacture one universal Lynx price.