Stay up-to-date through our global digital channel
To meet the safety and security guidelines during the Covid-19 pandemic, we use our webinar platform to interact with our investors and prospective investors. Webinars are an excellent way to continue keeping short lines and direct, easy communication.
July 13th True Partner Capital
Q2 2023 webinar
Date: 13 July 2023
Existing investors and potential investors have been invited to attend the Q2 2023 webinar.
July 14th IAM True Partner Volatility UCITS Fund Q2 2023 webinar
Date: 14 July 2023
Existing investors and potential investors have been invited to attend the Q2 2023 webinar.
Discussion topics of both webinars:
- On the call the Fund's co-CIOs Tobias Hekster and Govert Heijboer, together with the team, will discuss the volatility landscape, the drivers of Fund performance over the quarter and the team's views on the market outlook.
- The second quarter saw a continuation of the rally in equity markets and further compression in implied volatility in most equity indices. While the US debt ceiling did cause stresses in the market for Treasury Bills, equity markets remained unfazed.
- Our view remains that the overall economic and geopolitical backdrop remains fragile, while higher interest rates are working their way through the financial system. Despite the lack of an imminent trigger, we expect to see more activity in equity volatility in the months ahead. The team believes that this is likely to translate to increased opportunities and that current market pricing offers an attractive entry point to the space, particularly relative to asset classes such as fixed income, where implied volatility remains quite elevated compared to equity volatility.
- Concluding Q&A.
We are looking forward to meeting all subscribed participants across the world and to sharing our views.
Previous True Partner Capital Webinars and conference contributions as invited speaker:
Q1 2023 update:
Date: 25 and 26 April 2023
Discussion topics:
- On the call the Fund's co-CIOs Tobias Hekster and Govert Heijboer, together with the team, will discuss the volatility landscape, the drivers of Fund performance over the quarter and the team's views on the market outlook.
- The first quarter saw a rally in equity markets and a decline in implied volatility in equity indices, despite the problems at Silicon Valley Bank, Credit Suisse and other financial institutions.
- In our view, the developments in the first quarter further reinforce our thesis coming into the year that the macro backdrop remains fragile and that we are likely to see more activity in equity volatility in the months ahead. The team believes that this is likely to translate to increased opportunities and that current market pricing offers an attractive entry point to the space, particularly relative to asset classes such as fixed income, where implied volatility is already significantly elevated.
- Concluding Q&A.
We would like to thank all the participants across the world for their time and valuable contribution.
Q4 2022 update:
Date: 24 and 25 January 2023
Discussion topics:
- Fund performance and key P&L drivers over the quarter
- The overall market and volatility environment during the fourth quarter, which saw a rally in equity markets that was partially given back in December and a notable decline in implied volatility
- The outlook for markets amid signs of continued market instability and in particular our perspectives on volatility, including current pricing and potential triggers for volatility dislocations
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q3 2022 update:
Date: 19 and 20 October 2022
Discussion topics:
- Fund performance and key P&L drivers over the quarter
- The overall market and volatility environment during the third quarter, which has seen a muted reactiveness of implied volatilities despite continued macroeconomic uncertainty and rises in interest rates globally
- The outlook for markets in general amid signs of continued market instability and in particular our perspectives on volatility, including potential triggers for volatility dislocations
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q2 2022 update:
Date: 13 and 14 July 2022
Discussion topics:
- Fund performance and key P&L drivers over the quarter
- The overall market and volatility environment during the second quarter, which saw declines across several global indices, but unusually often paired with declines in per-strike volatility levels
- The outlook for markets in general amid signs of continued market instability and in particular our perspectives on volatility, including potential triggers for volatility dislocations
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q1 2022 update:
Date: 20 and 22 April 2022
Discussion topics:
- Fund performance and key P&L drivers over the quarter.
- The overall market and volatility environment during the first quarter, which saw a decline in the MSCI World Index yet was oddly a quarter in which it was more profitable to be short downside risks in equities than long protection.
- The outlook from here, amid various signs of potential market turbulence ahead.
- Concluding Q&A.
We would like to thank all the participants across the world for their time and valuable contribution.
Q4 2021 update:
Date: 18 and 19 January 2022
Discussion topics:
- Review of the Fourth Quarter of 2021 and the full year 2021.
- The drivers of Fund performance over the quarter and the full year 2021.
- The team’s views on the current market environment and the opportunity set.
- After the S&P 500’s gain of almost 30% in 2021 and 100% over the last 3 years, comparable to the peak of the dot com bubble, the next 12 months could be more challenging for US and global equity markets. With inflation hitting 7% in the US and now a key focus for politicians and policy makers, focus is shifting to the pace and magnitude of policy tightening in a year which will also see the US mid-term elections. Implied volatility entered the year at relatively low levels and realized volatility also remains below long-term averages, but appears to be past the low. We believe this sets the stage for an interesting year ahead, which could bring more downside volatility and more potential relative value volatility opportunities after the unusually bullish equity market conditions of 2021.
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q3 2021 update:
Date: 19 and 20 October 2021
Discussion topics:
- Review of the Third Quarter of 2021
- The drivers of Fund performances over the quarter
- The team’s views on the current market environment and the opportunity set. After doubling from the Q1 2020 lows, equity markets may now be at an interesting juncture. There are more signs of fundamental challenges to the bull market story amid slowing growth momentum and an increasing focus on inflation and supply chain challenges. Volatility strategies could have potential opportunities ahead.
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q2 2021 update:
Date: 20 and 22 July 2021
Discussion topics:
- Review of the Second Quarter of 2021
- The drivers of Fund performances over the quarter
- The team’s views on the current market environment and the opportunity set. As equity markets hit new all-time highs, while implied volatility has fallen to well below long-term average levels in a number of markets, the team will discuss prevailing market dynamics and the potential opportunities ahead and diversification benefits of volatility strategies.
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q1 2021 update:
Date: 22 and 27 April 2021
Discussion topics:
- Review of the First Quarter of 2021
- The team's view on the current volatility environment and opportunity set
- The portfolio role of volatility in a reflationary environment
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
IAM Alternatives UCITS Virtual Conference:
Date: 3 February 2021
True Partner Capital participated in the second IAM Alternatives UCITS Virtual Conference on 3 February 2021, organised by International Asset Management (IAM).
Tobias Hekster, co-CIO of True Partner Capital, discussed the volatility landscape and outlook with Lawrence Berner, Head of Research at IAM.
We would like to thank all the participants across the world for their time and valuable contribution.
Q4 2020 update:
Date: 20 January 2021
Discussion topics:
- Review of Fourth Quarter of 2020 and brief review of 2020 as a whole
- Discussion on start of First Quarter of 2021
- Discussion on expectations for 2021 on markets and the volatility environment
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q3 2020 update:
Date: 13 October 2020
Discussion topics:
- The volatility landscape during Q3, including unusual market behaviour in August and September and the impacts of large flows on the options market
- The drivers of Q3 performance
- The team’s market views as we head into a potentially eventful Q4, with the US election ahead
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q2 2020 update:
Date: 15 July 2020
Discussion topics:
- Discussion of the drivers of Q2 performance
- The team’s market views in general
- Team view on volatility: navigating an eventful Summer
- Concluding Q&A
We would like to thank all the participants across the world for their time and valuable contribution.
Q1 2020 update:
Date: 23 April 2020
Discussion topics:
- General discussion of volatility landscape over Q1 2020
- The performance of our funds
- True Partner considered outlook on volatility and markets
- Our sturdy and robust business continuity measures
- Concluding Q&A
The webinar was well-attended and well-received. We would like to thank all the participants for their time and valuable contribution.
True Partner Capital guest speaker at various online events in 2020
In 2020 we have also participated as a guest speaker at several virtual conferences including the IAM Conference on April, the Kepler Absolute Hedge - Virtual Week on April, the Morgan Stanley Annual European Hedge Fund Forum on May, the Morgan Stanley Virtual US Winter Hedge Fund Forum in December and the Goldman Sachs Virtual Views Uncorrelated Strategies Forum on December.