Alpha Capital Investment Process

Investment Committee

• AC Investment Committee (IComm)


follows a process, which consists of a series of steps to include or remove an investment.  These steps are in attendance of all the departments in order to express the different views in a concise manner, which results in a clear outcome.


1.Review the macro environment.


2.Research team presents their case through a fundamental approach and a quantitative approach in an open discussion manner.


3.Integration of other departments including trading, legal, and compliance in an efficient and transparent way.


• IComm focuses on both risk analysis through quantitative analysis and macro indicators and value analysis through fundamental analysis, relative valuations to enhance the risk adjusted return.


Compliance Committee

• AC Compliance Committee (CComm)


functions as a regulator representing EFSA to AC


1.Enforcing all legal requirements towards AC with continuous monitoring of investments to make sure that there is no breach.


2.Following up with all investment decisions that were agreed on in the IComm to ensure they legally abide.


3.Compliance officer reports directly to the managing director.  If situation is neglected, the compliance officer is obliged to reach EFSA and inform them of the situation.


4.All situations are to be reported in a dated journal is part of the compliance offer to prepare and share with the committee


• Ccomm focuses on ensuring that AC is working within its legal boundaries and efficiently to highlight potential breaches prior to them occurring.


Audit Committee

• AC Audit Committee (AComm)

follows the procedures of the internal audit program to ensure accuracy in all clients’ related issues. The internal auditor is internally empowered to represent the clients in front of AC

1.Daily review and comparison between all original financial transactions  and the system generated financials ensure accuracy.

2.Weekly review of all the investment accounts compared with bank statements.

3.Monthly review of statements prior to distribution to clients.

4.Internal auditor is responsible to report any situation in a dated journal which is to be shared with the AComm.

 AComm focuses on ensuring accuracy of all transactions. The Acomm reports directly to the managing director.

Strategies and Tools

Equity

Macro Analysis

Tools

• Global and domestic Economic Reports Industry Life & Business cycles.

• Liquidity analysis for companies.

• Sector Rotation.

• Risk analysis.

• Technical Reports.

Equity conclusion: 

• Where are the risks and strategy (bottom up or top down approach).

• Current Stage of business cycle and attractive Sectors & Investment opportunities.

• Exposures.

• Expected Return.

• Risk and volatility.

• Risk Adjusted Return.

Valuation

Tools:

• Fundamental analysis and valuation (Financial Ratios, DCF, multiples and relative valuation).

• Quantitative analysis elements (variance, standard deviation, beta, etc……).

• Portfolio optimization approaches (efficient frontier, Treynor, Black Scholes Model).

• Semi active investment Strategy (passive and active approach).

• Performance measure tools we use include (alpha, Sharpe ratio, information ratio).

• Risk Management tools (VAR).

• Quantitative analysis.

• Timing (technical analysis)

Investment Conclusion

• Equity asset allocation and allocation

• Risk Assessments.

Integration

Tools:

Research Reports & Recommendations.

Compliance officer and risk manager.

Trading staff.

Internal Auditor.

Operations.

Conclusion:

Aligning the different departments to proceed with suggested investment committee conclusions.

Receiving the compliance officer blessing.

Timing to construct and reallocate portfolios.

Buy & Sell Stock List.

Fixed Income

Macro Analysis

Tools:

Inflation rates

Unemployment rate

International reserves

Foreign Exchange Rates

Trade deficit/ surplus

Budget status

Monetary Policy

Prevailing and expected Interest Rates

Credit rating  expected  changes

Conclusion:

Overall macro view and economy situation

Expected interest rate movements

Suitable duration and convexity.


Valuation

Tools:

Expected interest rate movements  

Yields Volatility 

Yield Curve Expectations

Duration, convexity 

Risk adjusted return (coefficient of variation (CoV)

Investment Conclusion:

Fixed income strategy and approach

Risk Assessments

Integration

Tools:

Research Reports & Recommendations.

Compliance officer and risk manager

Trading staff

Internal Auditor

Operations

Conclusion:

Aligning the different departments to proceed with suggested investment committee conclusions.

Receiving the compliance officer blessing

Timing to construct and reallocate portfolios.

Buy & Sell Stock List


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