RISK MANAGEMENT

Quantitative and qualitative measures are used to evaluate risk by position as well as on a portfolio level.

Quantitative Risk Analysis
• Stress-testing is used to ensure portfolio is sufficiently capitalized under a wide range of market scenarios
• Liquidity analysis — performed daily
• Daily reporting includes expected portfolio volatility and VaR statistics

Qualitative Risk Analysis
• External environment assessment to determine impact on portfolio
• Individual position scenario analysis
• Our collective experience