Welton Investment Partners: Platform Profile

Overview

Welton Investment Partners LLC is a systematic alternative-investment manager with roots dating to 1988.

Current first-party legal identity:

• Legal manager: Welton Investment Partners LLC
• CRD: 172452
• SEC number: 801-80274
• CTA: Yes
• CPO: Yes
• SEC registered investment adviser: Yes

Current first-party site says the LLC provides the advisory and day-to-day operational services previously assumed by Welton Investment Corporation.

May fit better for

• institutional/professional investors;
• Qualified Purchasers and QEPs;
• investors seeking systematic trend or global macro;
• allocators comfortable with performance fees;
• investors seeking differentiated crisis/downside-oriented strategies;
• family offices and institutional portfolios.

May fit less well for

• retail investors;
• small accounts;
• users who rely on the predecessor legal entity as current;
• investors who expect one Welton minimum;
• clients uncomfortable with futures, forwards or options;
• users who treat "downside protection" objectives as guaranteed hedging.

The current legal manager is Welton Investment Partners LLC

Current first-party disclosure:

• Current legal manager: Welton Investment Partners LLC
• Predecessor: Welton Investment Corporation

The public site is not for retail investors

Current first-party legal disclaimer states:

• Retail investor site: No
• Institutional professional investor focus: Yes
• Qualified Purchaser: Yes
• QEP: Yes

The current public wording links its Qualified Purchaser audience to QEP status under CFTC Regulation 4.7.

Welton Global and Welton Trend are different programs

Current first-party site:

• Welton Global:
• Style: multi-strategy global macro
• Directional: Yes
• Diversifying models: Yes
• Equity selloff models: Yes
• Welton Trend:
• Style: systematic trend
• Multi asset: Yes

Current IASG program economics differ

Current IASG:

• Welton Global:
• Minimum: $10,000,000
• Management fee: 1.50%
• Performance fee: 20.00%
• Welton Trend:
• Minimum: $25,000,000
• Management fee: 1.00%
• Performance fee: 15.00%

Welton Global is broader than directional trend

Current first-party page describes approximate targeted risk allocation ranges across:

• directional strategies;
• diversifying strategies;
• equity sell-off strategies.

Models can include:

• macro directional;
• trend;
• short-term;
• non-directional spreads;
• risk-off alpha.

Welton Trend remains a systematic trend program

Current first-party page states Welton Trend trades:

• fixed income;
• equity indices;
• commodities;
• currencies.

Downside and bear-market objectives are not guarantees

Welton markets:

• downside-capture objectives;
• equity bear-market performance objectives;
• low-correlation objectives.

No hedge can be assumed to work in every crisis.

Current registration should remain separate from old IASG naming

IASG's manager page can still describe Welton Investment Corporation while current first-party legal disclosure uses Welton Investment Partners LLC.

Assessment

Welton's current review needs two separations.

First, the current legal manager is Welton Investment Partners LLC, while older database material can still reference Welton Investment Corporation.

Second, the two core managed-futures/global-macro programs have different current IASG economics:

• Welton Global: $10M / 1.50% / 20%;
• Welton Trend: $25M / 1.00% / 15%.

Those are program references, not one firmwide pricing schedule.