Our Solutions
- An account in the client's name. The client opens a brokerage account at an approved qualified custodian. The custodian holds the assets, handles deposits and withdrawals, and provides statements directly to the client. Under a written advisory agreement, Libra manages the approved portfolio with discretionary or non-discretionary authority, as applicable.
- A mandate built around the client. The agreement defines objectives, risk tolerance, eligible instruments, restrictions, reporting and fees. A portfolio may include a strategic allocation to U.S.-listed ETFs and selected U.S. equities and, when the account has the necessary permissions, a systematic futures component. Availability depends on jurisdiction, custodian acceptance and the governing agreements.
Segregated managed accounts
- A different way to access a Libra-managed strategy. An eligible investor purchases a note issued by an independent third party. The note may be held through a participating bank or investment account, allowing the investor to obtain strategy exposure without opening a direct Libra-managed brokerage account.
- The investor owns the note, not the underlying account. The issuer owns or controls the account that holds the note's underlying assets. Libra acts as portfolio manager under the product documents but is not the issuer, custodian or guarantor. The investor is exposed to the issuer, and has only the rights stated in the final offering documents.
- Availability is restricted. Notes are available only to permitted purchasers in eligible jurisdictions and through financial institutions that accept the product. The final offering documents determine eligibility, transfer restrictions, valuation, liquidity, fees and risks.
Third-party-issued investment notes
- Two components, one risk view. Libra may coordinate a strategic public-markets component with a systematic futures component. The relative weight of each component is based on the mandate's objectives, risk profile, liquidity needs and permitted instruments.
- Integrated risk management does not always mean one legal account. When the account or product structure permits, the components may be implemented together. When permissions or agreements require separation, they may be managed through coordinated sleeves or accounts. In either case, securities exposure, futures profit and loss, margin, liquidity, collateral and concentration are evaluated as part of the client's overall risk picture.
Integrated portfolio architecture
Libra uses technology throughout the investment process: to organize data, test investment ideas, evaluate robustness, construct portfolios, monitor implementation and identify risk or operational exceptions. Models support disciplined decisions, but no model can eliminate uncertainty or investment loss.
Research, execution & monitoring
Choose the access structure first
The access structure determines what the investor owns, where assets are held, which instruments may be used and what authority Libra receives.
In a managed account, the client owns the account assets and the custodian maintains them. In a note, the investor owns a security issued by a third party and the offering documents define the investor's rights.
From mandate to monitored implementation
Mandate definition
Document objectives, risk tolerance, liquidity needs, eligible instruments, restrictions and reporting expectations.
Structure and custody
Select the managed-account or note structure and identify the responsible custodian, issuer and other counterparties.
Portfolio architecture
Set the strategic public-markets allocation, systematic futures allocation and total risk limits.
Documentation and authorization
Complete the governing agreements, account permissions and investor-eligibility checks before implementation.
Implementation and monitoring
Monitor positions, exposure, profit and loss, margin, liquidity, collateral, data quality and operational exceptions.