IOLCUS WEALTH MANAGEMENT
Taking your money to a smarter place
Markets are volatile. Constant adjustment is necessary.
– Our most precious asset –
We believe that the emphasis put in the selection process of the people working for Iolcus Investments, focusing on knowledge, a sense of responsibility, and their ethics constitute the foundations on which the fastest growing investment firm in Greece is built.
CEO & Partner
Head of Investment Management Managing Partner
Fund Manager & Investment Strategist
Head of Trading
Senior Relationship Manager
Senior Relationship Manager
Senior Relationship Manager
Senior Relationship Manager
Reassuring history, promising future
More than 150 years of collective experience and devotion to investments
Iolcus’ founders were the major shareholders of the P&K Group, one of the most successful investment firms in Greece. The P&K Group commenced its operations in 1996 and within five years became the largest independent (non-bank related) player in equities trading, investment banking and asset management employing over 200 financial professionals. Among its clients were first-class international investment banks as well as end-clients from Europe and the U.S.A. The firm was the first to introduce online trading for Greek stocks, to implement a direct market access platform for institutional investors, to apply rigorous risk management systems for its proprietary trading desk; and, to establish and advise from Greece a global macro hedge fund. Notably, the firm was one of the main market makers in the Athens Derivatives Exchange and Liffe for Greek Securities. In 2007, the P&K Group of Companies was acquired by the National Bank of Greece, the largest Greek bank at the time. To date, P&K Group remains its sole domestic acquisition. All managing partners at Iolcus Investments held senior executive positions with the P&K Group.
* Iolcus Investments AIFM is an independent Manager of Alternative Investment Funds and private portfolios, based in Athens. It is authorized and regulated by the Hellenic Capital Market Commission (license number 2/805/28.12.2017) and is a member of the Hellenic Fund and Asset Management Association. The firm offers a wide range of professional investment solutions targeting to protect and grow clients’ assets.
Letting our principles speak for us
Innovation. Confidentiality. Talented People.
We strive for innovation, we do not accept one-size-fits-all solutions.
We do not copy strategies but we frame and propose options tailored to our clients’ needs, always mindful of local regulatory restrictions, tax considerations and country risks.
We attract talented people adding value to our clients.
We value our people as our most precious asset. We are committed to attracting exceptional investment professionals and creating a working environment in which they want to thrive. We target specialists whose expertise, independent views, experience, disciplined investment processes and ethical stance towards the interests of the Company and the Client distinguish them from the rest of the pack. We are convinced that highly intelligent minds are often underutilized within large organizations as they become entangled in inelastic procedures. We believe that skills are transferable and that by attracting accomplished professionals with proven international track records, we can bring added value to serve our clients locally.
We consider absolute confidentiality an indispensable part of our business
We have built our services on the principle of confidentiality, a core principle which is often overlooked or underrated in Greece.
We work together to add value to your assets
Absolute returns – Transparent costs
Choose the Bank Custodian to safeguard your assets. Trust us with their protection and growth.
Client assets are held separately on personal accounts with highly rated banks acting as custodians. By distinguishing the Custodian from the Investment Manager we eschew conflicts of interest between providers of financial products and the investment manager/advisor. Iolcus Investments is a privately owned asset management firm that is run by is owners. This independence allows us to choose the financial means and products that are aligned with our clients’ individual interests.
Quality is never an accident;
is always the result of intelligent effort
Discretionary Asset Management
Investment planning, wealth management, tax optimization
Investment management requires consistency, discipline and responsibility. We invest in all financial instruments within highly liquid markets where there is no information disadvantage compared to institutional asset managers. We manage our clients’ assets in an environment of continuous risk monitoring conducting procedures that are normally applied to large institutional portfolios. Our portfolio management policies integrate the identification of opportunities across all asset classes. Our managers’ performance is constantly monitored and compared to benchmarks that have been agreed with our clients during the financial planning phase.
Disciplined methodology based on individually agreed targets of risk and return
Our investment advice services are based on the same principles that permeate our discretionary asset management. Investment advice mandates require the discipline of financial planning, namely the forecasting of future cash flow needs and the definition of return targets, tolerance to risk & timeframe horizon of the investment portfolio. The principal difference of this service is that client’s consent is required on each individual investment decision. Investment advice mandates are more suitable to investors who have the requisite investment experience and feel comfortable evaluating the impact of accepting or rejecting investment proposals to their risk/return profile.
In 2015 Iolcus Investments AIFM founded and has since managed from Athens, the APOLIS alternative umbrella fund in Luxembourg, which operate as a variable capital investment company (SICAV). Alternative Investment Funds have a higher degree of versatility regarding their exposures in a long or short position on any security, are permitted to leverage funds under management and are allowed to use risk hedging strategies. Conversely, traditional Undertakings for Collective Investments in Transferable Securities (UCITS), cater mainly to small private investors and are subject to strict limits on their investment universe and exposures.
AIFs cater to the needs of professional as well as private, well-informed investors who have the knowledge and experience to comprehend this type of investment and its risks. The prerequisites to invest are a minimum investment, as determined by each Member State, for example, €125,000 in Luxembourg and a written statement by the investor that they can comprehend the requisite risks involved.
At Apolis funds we depend on a multi-strategy approach. Our target is to either achieve absolute returns or benchmark volatility-adjusted returns. Assets are invested based on the conditions generated by the relative dynamics between fundamental sectors of the economy in conjunction with the opportunities resulting by shifts in governments and central banks policies, the economic cycles and other externalities.
Investment philosophy and characteristics
We believe that successful management strategies are formed by the independent view of the investment manager.
This is the reason why we rendered inherent in the very nature of the Apolis funds that the investment committee will be an advisory and control mechanism meant to support and check on the manager without imposing specific strategies and investment positions. To the contrary, it gives the fund manager the requisite freedom to structure and apply their own investment rationale, which they then have to consistently follow.
The legal form of the Apolis alternative funds is a SICAV-SIF variable capital investment company.
Their domicile is Luxembourg and they are denominated in Euro. Valuation, subscriptions and redemptions take place at the end of every calendar month.
On consensus: The process of abandoning all beliefs, principles, values, and policies in search of something in which no one believes, but to which no one objects.Margaret Thatcher
We issue separate series every month to ensure the fair treatment of investors.
The issuance of separate series every month and the application of the high-water-mark rule ensures the fair and equitable calculation of any success fees for every investor.
*The Apolis funds are supervised by the Luxembourg Capital Markets Commission (CSSF) and the manager, Iolcus Investments AIFM, by the Hellenic Capital Markets Commission (HCMC). The Apolis Funds’ custodian is Eurobank Private Bank, based in Luxembourg, and their certified auditor is PricewaterhouseCoopers of Luxembourg.
Apolis Global Macro 1
Significant potential for non-correlated investment positions
Target: To achieve a net absolute annual return of 5% per annum with an average annual volatility of 7%.
Investment methodology: It focuses on fixed income securities using directional positions. Expected returns are compared with the relevant historical volatility of the basic asset classes and, along with the restriction of the average volatility at 7%, the alternative investment combinations are evaluated and the optimal ones are chosen (with or without leverage). The selection of the individual securities is carried out on a bottom-up basis.
Investment universe: Bonds, stocks, derivatives, G7 and other European market ETFs, Eurobonds issued by emerging market governments and companies and, in exceptional circumstances, local currency – denominated bonds.
Risk management: Target average volatility of 7%, sufficient diversification for every asset class, issuer and sector, maximum exposure to currencies other than the Euro set at 30%.
Target: To achieve higher returns than the FTSE/ASE Large Cap index at a lower level of volatility.
Investment methodology: The exposure to stocks depends on the relative dynamics developing between different sectors. Index, sector and intermarket arbitrage. Medium-term investment positions. Market timing with the use of leverage. Speculative investments with the use of strict stop loss limits.
Investment universe: Greek stocks, Greek Government Bonds and T-bills, bonds of Greek companies issued in Greece and abroad as well as index derivatives (both futures and options). Stock futures listed in the Athens Stock Exchanges.
Risk management: Ex-ante volatility target below that of the FTSE-25. Leverage will be limited by the volatility target and its use restricted to arbitrage and spread trading. There will be selective risk hedging with the use of short positions and index futures.
Iolcus in numbers
Average annual growth in AuM
Custodian Banks in 3 Countries
AIFs in Luxembourg
Our Custodian Banks
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