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LCJ Investments SA
LCJ Investments S.A. is the investment manager of the LCJ FX Strategy, a fundamental and discretionary global macro strategy expressing both directional and non-directional views on currencies.
LCJ is based in Geneva, Switzerland, and was founded in 2007 by Conor MacManus, Jonathan Tullett and Leonora Kerry Keane. The LCJ FX Strategy was launched in September 2007, and has returned 57% net since inception at an annualized volatility of 6.8%, with 2014 delivering 10.8% net.
The portfolio managers, Conor MacManus and Jonathan Tullett, have between them over 37 years of working in FX markets and conceived the strategy back when working together in the late 1990s.
The investment universe includes major currency pairs, non-traditional crosses, and emerging market currencies. Utilising a wide and diverse range of market data and analysis, and extensive experience of FX Markets and FX Options, we identify medium-term and long-term themes, for which we seek to find attractive risk-reward opportunities within a well-defined risk and volatility mandate.
The Strategy invests using FX Options because it is our belief that the natural leverage and deleverage elements of these products provide a favourable risk-return profile and furthermore allow the Strategy to buy time for anticipated price behaviour to occur.
Since inception the Strategy has been managed through a variety of different economic and market conditions, and has consistently produced long term class-leading risk-adjusted returns utilizing a robust risk management framework.