Our Relative Value strategy identifies and exploits pricing inefficiencies across related securities. We deploy convertible arbitrage, volatility trading, and capital structure arbitrage to generate returns independent of market direction while maintaining strict market neutrality.
The strategy maintains near-zero beta through dynamic hedging and focuses on high-conviction trades with asymmetric risk-reward profiles, targeting consistent performance across all market regimes.
Long convertible bonds hedged with short equity positions, capturing embedded optionality while maintaining delta neutrality.
Options strategies capturing the spread between implied and realized volatility through systematic variance swaps and straddles.
Exploiting relative value across a company's debt and equity, identifying mispriced credit spreads and equity volatility.
Capturing pricing discrepancies between index futures and underlying baskets through algorithmic execution and ETF creation/redemption.
Aptila's relative value mandate exploits structural mispricings across instruments while maintaining strict market neutrality and low correlation.
We systematically screen for dislocations in convertible bonds, volatility surfaces, and capital structures using proprietary valuation models.
Positions are delta-hedged through equity shorts, options, or index futures to isolate pure relative value and eliminate directional exposure.
Trades are held until mispricings converge, with automatic rebalancing maintaining neutrality as Greeks and market conditions evolve.
Our Relative Value mandate targets high Sharpe ratios through controlled volatility and market neutrality. By exploiting structural inefficiencies, we aim for steady absolute returns with minimal correlation to traditional asset classes.
Institutional Governance
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