Define the Risk Path First
Before any instrument is selected, we define exactly what we are protecting against. The risk path determines the solution. Not the other way around.
Investment Solutions
Defensive overlays and bespoke portfolios.
Resonanz Capital designs and manages bespoke portfolio solutions — combining defensive overlays, QIS-based risk management, and disciplined implementation for wealth managers, family offices, and institutional investors who need a programme they can govern and explain.
Most portfolios are not well-hedged. They are simply not yet stressed.
How do we protect the portfolio against both sudden shocks and slow, grinding drawdowns — without permanently sacrificing return?
How do we implement a hedging programme that holds up in front of an investment committee?
How do we deploy QIS systematically, with the governance and process clarity our institution requires?
Two distinct risk profiles. Two distinct solutions.
Not all portfolio risk looks the same. Sudden dislocations require convexity structures that respond immediately. Persistent drawdowns require dynamic, directionally-responsive strategies. We map which risk path applies, then design implementation accordingly.
Convexity structures for event and tail risk protection
Trend-following and systematic overlays for drawdown resilience
Combined frameworks for portfolios exposed to both risk types simultaneously
A hedge that cannot be executed when it matters is not a hedge
A hedge that cannot be acted upon in stress is a contingency plan with no trigger. We build solutions with pre-agreed monetisation frameworks, clear governance, and operational readiness — so the response is already defined when it matters most.
Pre-agreed monetisation and rebalancing protocols embedded in every programme
Attribution by source of risk and return, not headline performance alone
Reporting structured for investment committee review from day one
Read our thinking
The Momentum Signal Works. The Momentum Trade Is Crowded.
Momentum has not stopped working. What has changed is what happens when it starts to unwind. The strategy’s tail risk is now endogenous to the size of the systematic complex that runs it — and most portfolios are still priced on a ...
6 min read
Most conversations about prepayment risk start too late
Someone says "mortgages," someone else says "negative convexity," and the room moves on as if the strategy has been defined. It has not. A prepayment-risk strategy is not simply a rates trade with mortgage jargon around it. It is a trade ...
10 min read
What the Hedge Leaves Behind
Quant equity market-neutral is the strategy everyone is adding to right now. Before you size up, there is one trade-off the track record won't show you. Market-neutral is not a binary property. It is a direction of travel — and one that ...
8 min read