Strategy Positioning

Strategy Positioning Image

The APS Labs Strategies utilize managers by having them specialize in a particular sector(s), as opposed to employing their full strategy; managers are hired in the specialized area(s), where they have historically been able to create the most consistent alpha. Within the chosen Mandate(s), managers are unconstrained:

  • Market Capitalization – holdings are All-Cap, both within mandates and at the aggregate Strategy level
  • Holdings can be of any style within a sector
  • The number of holdings by mandate can be concentrated as a manager feels appropriate
  • Mapping: high correlation >85% to each Strategy broad benchmark index:
  • APS U.S. Equity Strategy – Russell 3000 NR Index
  • APS International Equity Strategy – MSCI ACWI ex. USA NR Index
  • APS Health Care Equity Strategy Health Care Select Sector SPDR ETF
  • Active Share is high at >80% to all major indices (best-fit or broad)

Each Strategy is designed to be generally sector neutral to their broad benchmark index – not taking bets amongst or between the different sectors, either tactically or strategically.