Capstone Investment Advisors is a multi-strategy investment manager specializing in relative value trading with a focus on volatility. Capstone uses a quantitative, model-driven approach with a qualitative overlay, trading across equities, fixed income, foreign exchange, and commodities. Capstone manages assets through its Capstone Global Master (CGM) fund and Capstone Solutions platform, offering customized mandates tailored to investor needs.
Fee Structure
Capstone manages investments through private investment vehicles, customized single investor vehicles, commingled fund structures, and separately managed accounts. Capstone's fees are generally deducted from the applicable fund's account or invoiced to the separately managed account on a monthly basis.
Capstone Global Master (CGM):
- A monthly management fee, payable in advance, at an annual rate of up to 2.00% of the net asset value.
- Performance Compensation on a quarterly or annual basis of up to 27.5% of the net appreciation in NAV, subject to an investor’s high-water mark.
Solutions Platform:
- A monthly management fee, which may be charged in advance or in arrears as agreed with the relevant client. The management fee is generally either a flat annual minimum fee or calculated as a percentage of up to 2.00% (per annum) of assets under management, notional asset value replaced, risk adjusted exposure, or notional value of investment exposure.
- Performance Compensation of up to 20% of the net appreciation in NAV, subject to an individual investor’s high-water mark.