Macro Hedge Fund
AG Capital is a discretionary global macro hedge fund that draws inspiration from macro pioneers while evolving the investment style to deliver a modern approach to risk management.
Our goal is to deliver attractive absolute returns with zero correlation to major asset classes and other macro managers. Our fundamental research process generates long and short investments across global asset classes – equities, fixed income, currencies and commodities.
AG Capital is an independent investment firm led by CIO Asim Ghaffar and located in Boston, MA. The flagship strategy launched in 2014 and today manages capital for a variety of institutional and family office clients across the globe.
The team brings decades of experience across investment and research disciplines to deliver an institutional-grade solution that is supported by top-tier infrastructure and operations.
We believe that market movements recur over time because human behavior is consistent over time. A strong understanding of history and economics is key to understanding markets.
We believe in methodical and steadfast decision making to deliver repeatable wins for our investors. We follow a top-down research process built upon our deep analysis of global market dynamics.
We are not trend followers, nor do we deploy a black box strategy. We believe in transparency, active risk management, and straight-forward communication to cultivate long-term relationships with our investors.
Since inception, AG Capital has adhered to core values that drive our daily actions, ensuring success and longevity as an institution.
We are passionate investment practitioners. Creativity drives how we recruit, think, research and uncover evidence of things unseen – or discern what’s hidden in plain sight. Structured thinking informs our fundamental views and how we execute our strategies.
Trust drives our relationships. We show our work and justify how we arrive at our ideas. We directly communicate our views, assess our performance, and admit when we are wrong – we cultivate real relationships among our team and our investors.
We are responsive, determined, and aligned in partnership with our investors. The team has invested a significant portion of their personal net worth alongside clients and are committed to the firm’s long-term success.
We believe that investment opportunities are unique and identifiable.
Our investment process utilizes a top-down fundamental approach – aided by technical and sentiment
analysis – to identify new opportunities across commodity, currency, interest rate, and equity markets.
We follow an established, repeatable process to conceive and realize end-states that are not currently
priced in by markets.
- Investment universe comprised of liquid North American futures markets and single name equities.
- We utilize deep fundamental research, a variety of inputs, and a unique understanding of global markets to identify new opportunities.
- We express our views through a concentrated portfolio of best ideas and refresh it constantly. New ideas typically push out those in which we have lower conviction.
- We deploy capital thoughtfully across a conviction-weighted portfolio to minimize the risk of capital impairment.
- Our approach to risk management embeds our belief that patient implementation is key to investment success.
- Risk budgets are determined prior to taking new positions, while pragmatic assessments of position sizing, market behavior, and gross exposure inform our exits.