Independent Hedge Fund Advisory

Astala Capital provides independent hedge fund advisory services to qualified investors and family offices. Our advisory services are underpinned by Astala Polaris, a live multi-manager portfolio that, since 2019, has served as the real-money implementation of the Founder's investment philosophy and the firm’s disciplined allocation approach. We are fully independent of all funds and banks.For more information on Astala's advisory services, please contact us.

About

Astala Capital provides independent hedge fund advisory services to qualified investors and family offices.The firm focuses on disciplined hedge fund selection and portfolio construction across the global hedge fund universe.Astala applies a research-driven approach to identifying high-quality managers and constructing diversified multi-strategy portfolios designed to deliver consistent long-term returns.

Astala is led by its founder, Chris Logan, ACA, a Chartered Accountant (Deloitte) and former senior equity analyst at Goldman Sachs.With a career spanning over 25 years, Chris also served as Head of Research for an equity hedge fund before spending many years as Investment Director for a prominent European Family Office. In this role, he held primary responsibility for the family's Hedge Fund and Alternative Asset investments.

STRATEGY

Astala Capital's approach is built on three core principles: rigorous manager selection, portfolio diversification, and disciplined focus on downside protection. We aim to construct concentrated portfolios of 8-12 carefully selected hedge fund managers, applying institutional-quality research across a global universe of funds to identify best-in-class strategies.We prioritize downside volatility management, positive convexity and an ability to take advantage of dislocated markets. This approach seeks to deliver consistent compounding through all market environments and eliminating large performance drawdowns.

This strategy underpins the live Astala Polaris portfolio, as well as advisory mandates implemented through custodial accounts and bespoke advisory arrangements for qualified investors.

Manager Selection

We employ a multi-stage quantitative and qualitative screening process, beginning with systematic analysis of 500+ hedge funds across multiple performance and risk metrics. This funnel narrows to 75-100 funds for deeper scenario testing, then to 50-75 actively monitored "best of breed" candidates, ultimately resulting in 8-12 portfolio positions.Unlike typical fund-of-funds structures which employ 25+ managers and inevitably deliver industry-average performance, we maintain higher concentration.

Note: We only use proprietary in-house selection & portfolio construction tools

Strategy Exposure

The Astala portfolio maintains balanced exposure across most hedge fund strategies to ensure genuine diversification and minimize single-strategy concentration risk (see chart below as an example of illustrative exposures). These are subject to strategy risk limits but also can change to reflect our view on the medium-term outlook - for example we have been relatively overweight Convertible Bond Arbitrage since Q1 2024 reflecting our belief that higher interest rates, stock volatility and the corporate refinancing wall 2024-2029 would present strong tailwinds for returns in this strategy.

Note: Strategy allocations shown are illustrative and vary over time based on opportunity set, relative performance, and market conditions

• Equity Long/Short: Fundamental equity investing with varying net exposure, including market-neutral and long-biased

• Convertible Arbitrage / Capital Structure: Exploiting dislocations across convertibles, equity, and credit

• Emerging Market Credit: Fundamental credit investing in non-investment grade sovereign and corporate bonds

• Relative Value Credit: Credit strategies seeking alpha from pricing dislocations across the credit spectrum

• Fixed Income / Macro: Global macro across bonds, currencies, and rates

• Quant: Statistical and quant strategies providing additional diversification

• Event Driven: Merger arbitrage, special situations, and corporate restructurings

• Commodity / Other: Opportunistic exposure to commodity arbitrage and other uncorrelated strategies

Risk Management

Contact

For enquiries please contact:
[email protected]
Feusisberg, 8835 Switzerland