Newly-minted UK investment boutique Monogram – founded last year by a former managing director from Signia Wealth – has rolled out what is called the Monogram Fund, a multi-asset portfolio starting with a default setting of 100 per cent in cash.

Newly-minted UK investment boutique Monogram – founded last year by a former managing director from Signia Wealth – has rolled out what is called the Monogram Fund, a multi-asset portfolio starting with a default setting of 100 per cent in cash.

The fund uses an investment strategy based on direct observation and empirical research, coupled with tight drawdown control, to maximise gains over the course of the investment cycle, it said in a statement. This portfolio invests across cash, bonds, equities and commodities. Starting from its initial full cash position, it only allocates to other assets if prevailing conditions, as judged by certain measures such as valuation and the stage of the economic cycle, are met. The fund sets a drawdown risk budget in advance and only invests in assets that fit with this policy.

Exposures are handled via a range of index exchange traded funds and futures. With equities, the fund invests in specific countries rather than individual equities. To invest in the fund, clients must commit at least £100,000 ($151,475) in the initial subscription period until 31 January. The fund will be managed by Paul Marson, formerly global chief investment officer (excluding USA) of Goldman Sachs Wealth Management and Morgan Stanley Private Wealth Management and global chief investment officer of Lombard Odier.

“Monogram believes that conventional fund management isn’t delivering. Our innovative approach seeks to preserve and grow wealth in all market environments, rather than just beating the benchmark,” according to Milena Ivanova, CEO of Monogram. Ivanova, founder of the firm, previously was managing director at Signia Wealth (see this story from last week about the resignation of Signia’s CEO). She has also worked at Goldman Sachs, at both the wealth management and asset management arms.

Alongside the fund, Monogram offers segregated managed accounts that have been developed for clients investing more than £5 million.