Investment Philosophy
Investment Process
Portfolio Construction
Risk Management
Risk Management

    Liquidity Risk
MMA’s portfolio is designed to be extremely liquid on a daily trading basis. We limit the majority of positions to less than one day’s trading volume (20 day ADV). We track weekly, each position as percent of average turnover.
    Small Portfolio Leverage
Maintain gross exposure under 200% on an average monthly Delta Adjusted basis.  Our "leverage” comes from our concentrated positions on stock picks.
    Tight Stop-Loss Points
10% at cost for longs, 5% for shorts. MMA tracks average cost on all positions every day to validate risk on investment thesis.  The fund will begin reducing exposure when our stop loss limits are triggered.
    Manage Black Swan Risks
Run scenarios to simulate impact of black swan events. Use derivatives to hedge VaR. While hedging is the end goal, we manage to squeeze gains out of our hedging positions.
    Control Key Risk Metrics
Avoid over-reliance on any single investment thesis by monitoring individual position limits, sector exposure, market exposures, etc.
    Currency Hedge
Reconcile Cash positions every day and monitor non-USD holding. Proactively manage amount of FX exposures to minimize impact on currency movement.
    Counterparty Risk
In trading, we have trading access with 20+ brokers on the Street. For cash, we have two accounts where we can deposit our cash positions. One with prime broker and one with BNY Mellon.





Add: 2 Overhill Road, Scarsdale, NY 10583, USA Tel : +1-914-713-4688 Email: inquire@mmafundmgmt.com Legal Disclaimer

The Team

Executive Summary

Our Value Proposition

Summary of Terms

Investment Process

Portfolio Construction

Risk Management

Alpha Generation

Relative Performance

Historical Performance

Monthly Letter Archive


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