Investment Strategies

The majority of our assets are in small cap mandates, an inefficient asset class where substantial value can be added through the use of managers with a smaller asset base. From our origins as a small cap specialist, we have expanded our research efforts and product offerings to include exposure across public markets asset classes. At the same time, we adhere to our focus on smaller managers who are newer to the institutional market and in areas where there is market inefficiency.

US Small Cap

The investment objective of the US Small Cap strategy is to outperform the Russell 2000 Index utilizing best of breed emerging small cap managers. The portfolio will typically contain six to seven managers and hold 350-550 positions. Overall portfolio sector deviations from the benchmark weights are minimal, and portfolio characteristics are similar to those of the Russell 2000.

US All Cap

The investment objective of the US All Cap strategy is to outperform the Russell 3000 Index utilizing best of breed emerging managers across the capitalization spectrum. The portfolio will typically contain six to seven managers and have minimal portfolio sector deviations versus the benchmark weight. Portfolio characteristics (average market cap, style, etc.) are similar to those of the Russell 3000.

Bivium Select

Bivium Select is a higher tracking error version of the US All Cap product with commensurate alpha goals. Bivium Select combines the highest conviction stock ideas from our highest conviction, fundamental managers. The portfolio currently contains five managers and, on average, 70-80 stocks. Portfolio characteristics (average market cap, sector weightings, etc.) can be meaningfully different from those of the Russell 3000.

Custom Mandates

Bivium’s ability to discover alpha producing managers across the public markets asset classes allows us to develop portfolios to meet a wide variety of client mandates. Working with the client, we construct a customized portfolio of managers that individually have the ability to generate strong excess returns over their respective benchmarks and collectively provide an efficient, risk-managed portfolio of differentiated alpha sources. These mandates can have manager exposure across the US Equity, International Equity and/or US Fixed Income asset classes.

International Equity

The objective of Bivium’s International Equity portfolio is to outperform the MSCI ACWI-ex US Index utilizing best of breed, emerging international managers. This portfolio currently contains five managers across styles and has dedicated emerging markets exposure. Portfolio characteristics are similar to those of the MSCI ACWI-ex US Index.