Investment Principles
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Manager selection prioritizes:
The platform allocates across:
Emerging Managers
Established Managers
Niche Managers
Due Diligence Framework
Manager selection involves both investment and operational due diligence.
Investment Diligence
Operational Diligence
Ongoing Monitoring
Managers are subject to continuous oversight, including:
Flagship Strategy
The Flagship Strategy is a fundamental long/short equity portfolio that seeks to outperform global equity indices over a full market cycle with reduced volatility. The portfolio is diversified across three complementary strategies—established, emerging, and niche—each contributing a distinct return profile and potential source of alpha.
Established Strategies
May offer stability, experience across multiple market cycles, developed risk management processes, and execution at scale
Emerging Strategies
May offer differentiated return potential through innovative investment approaches, limited assets under management, and negotiated preferential terms with the ability to secure capacity for future investment
Niche Strategies
May provide specialized expertise, access to capacity-constrained opportunities, and returns that are less correlated to broad indices
Together, these allocations are intended to provide exposure across investment style, scale, and focus, with diversification serving as a core element of the firm's risk management approach.
Emerging Manager Strategy
The Emerging Manager Strategy is a concentrated fundamental long/short equity portfolio drawn from the Flagship Strategy, reflecting the firm's long-standing focus on identifying managers early in their lifecycle. The strategy seeks to outperform the Flagship Strategy—potentially with higher volatility—while pursuing favorable economic terms and seeking to secure capacity for future investment. We believe emerging managers may offer several distinct characteristics:
Access to Inefficient Markets
Exposure to less liquid and more inefficient market segments that may offer potential for alpha generation
Operational Agility
Smaller asset bases that may allow for more nimble portfolio positioning and potentially lower transaction costs when entering or exiting positions
Performance-Aligned Economics
Compensation structures that may be more heavily weighted toward performance fees rather than management fees, which can reinforce alignment with investor outcomes
Together, these allocations are intended to provide a differentiated source of returns within the A.W. Jones platform, with manager selection and ongoing oversight serving as core elements of the firm's investment process.
Insurance Dedicated Fund
IDFs can be accessed through one of two life insurance policy structures—a Private Placement Variable Annuity ("PPVA") or a Private Placement Life Insurance ("PPLI") policy—both of which may allow investment gains to accumulate on a tax-deferred or tax-exempt basis, subject to applicable tax laws and policyholder eligibility.
PPVA
Provides tax-deferred growth with no life insurance component and eliminates K-1 reporting
PPLI
Combines tax-advantaged investment growth with a wealth transfer component. Requires the purchase of associated life insurance and eliminates K-1 reporting
A.W. Jones partners with SALI Fund Services, LLC, a platform that supports the administration of IDFs. The A.W. Jones Insurance Fund is available to insurance companies, and A.W. Jones and SALI can coordinate brokerage resources for qualified investors.
