Institutional Liquidity

A cross-asset
portfolio,
navigated through
the cycle.

Crosscurrent Capital runs intermediate cash for institutional clients: the reserves held against capital calls, collateral buffers, transition cash and other balances that cannot join a performance mandate. The strategy seeks a return over cash inside an agreed volatility band, in long-only, unlevered portfolios of liquid ETFs across rates, credit and equities in the US, Europe and the UK.

Mandate
Segregated accounts
Clients
Insurers, pensions, endowments
Universe
Cross-asset, liquid
Geography
US · EU · UK
01 / Approach

Patient capital, guided by macro, disciplined by factor risk.

The portfolio is constructed top-down from a view of the macro cycle, then refined through factor and risk optimisation. The aim is a durable return over cash through the cycle, within a volatility band set with each client. The portfolio doesn't chase momentum, and isn't tied to a fixed allocation.

i.

Macro framework

Allocation is anchored to a view of growth, inflation, and policy across the major developed economies. Scenarios are probability weighted.

ii.

Factor lens

Positions are sized by their underlying exposures: duration, credit, equity beta, carry, quality. Diversification is measured at the factor level, and by instrument.

iii.

Risk discipline

Optimisation respects soft caps on individual positions and on aggregate factor exposure. The aim is robustness across regimes without sacrificing return.

02 / Strategy

A deliberately narrow investment universe,
run as
one book.

The universe is large, daily-priced, exchange-listed ETFs covering government and corporate fixed income and public equities across the US, Europe and the UK, alongside cash and T-bills. No leverage, shorts or derivatives. Within that universe the portfolio is built to express macro views efficiently, to harvest carry where it is compensated, and to be sold down in size within days when the client needs the cash back.

Decisions are evidence-based. Frameworks are tested against historical regimes. Positions are reviewed against their original thesis and resized when the thesis changes. A rules-based drawdown overlay moves the portfolio towards cash in stress and returns it to full exposure on recovery.

Asset Classes
Rates · Credit · Equity
Regions
US · Europe · UK
Liquidity
T+1 to T+3
Style
Macro, factor-aware