Tungsten ZENTURIO UI is a global convexity fund designed with the aim of providing a return stream with diversification and low correlation to broad based markets. Over the long run the return objective is Euribor plus 3 to 5% across the full business cycle. The approach of the Tungsten ZENTURIO UI is based on the view, that there are inefficiencies in the pricing of implied vs. historical volatility. The Fund deploys a combination of multi-leg option positions with the capability to profit from volatility regime changes in both, high and low volatility environments. ZENTURIO utilizes exchange traded securities on equity and bond indices and single stocks, with an emphasis on an asymmetric risk reward profile, with liquidity and defined risk.
Lutz Klaus is joining Tungsten as Partner and Executive Director coming from Mayfair Asset Management, the well renowned family office of the Herz family (“Tchibo”). He started his career in the Asset Management department of cologne-based private bank Sal. Oppenheim subsequently leaving for the multi-billion Euro Degussa Pension Fund where he became CIO. During his tenure the fund successfully avoided most pitfalls of the recent financial crisis leading to several Awards from “Portfolio Institutionell.” His investment style is a combination of modern portfolio construction theory paired with derivative overlay strategies.
Lutz Klaus holds a degree as “Diplom Ökonom” from the University of Giessen and is a CFA Charterholder.