About ITERAM Capital and Marouane Daho
ITERAM Capital, located in Geneva, Switzerland, was established in 2015 and is an alternative asset manager specialized in hedge funds, venture capital and private debt. The company acts as the investment manager for several funds domiciled in multiple jurisdictions and offers alternative investment advisory and research services.
The team has over two decades-long institutional expertise and track-record in all fields related to alternative investments. The founding members were part of the top management in the alternative investments division at Edmond de Rothschild (Suisse) SA, formerly Banque Privée Edmond de Rothschild, which was a pioneer in alternative multi-management.
Marouane Daho is a portfolio manager and research analyst at ITERAM and also a member of the investment committee. Marouane’s responsibilities are to source managers and oversee the company’s hedge fund portfolios. Prior to joining ITERAM, Marouane was in charge of hedge funds and private market investments at a single-family office in Geneva. When not at the office, Daho is hiking in the Swiss mountains or riding his road bike.
As a newly launched asset management firm back in 2015, ITERAM started with proprietary analytical and operational tools and complemented them by partnering with an external provider. The challenges were:
- Diverse Asset Classes and Markets: the analytical tool must be capable of handling diverse financial instruments and provide insights across different regions and economies, suitable for a global investor.
- Multi-Currency Support: with a global investment universe, ITERAM needed the solution to accommodate different currencies and provide risk and portfolio analysis irrespective of the currency denomination.
- The need for a comprehensive and robust system that can meet the requirements of both the risk and investment management teams (peer grouping, scenario analysis, factor analysis etc.)
Building models and reports in Excel is time-consuming, and inconvenient. By contrast, Venn by Two Sigma offers a user-friendly interface compared to other risk portfolio management tools and can help tackle all of the challenges above. ITERAM appreciated the flexibility and ability to customize a variety of tasks to accelerate internal decision-making processes.
ITERAM has partnered with Venn to help with several key workflows:
- Risk Management
- Portfolio Construction
- Ongoing Sourcing and Research
Venn aims to help produce a variety of risk metrics for both single line investments and on the whole portfolio level. The key metrics include risk attribution, correlation and factor attribution analysis. We also use Venn's stress testing capability to help navigate different challenging market scenarios.
Venn has been instrumental in building and optimizing our portfolios. We typically integrate our CAPM assumptions to get forecasted returns and use optimization results as a due diligence tool for our strategic allocation changes.
Ongoing Sourcing and Research
Venn comes with an extensive database of funds and managers. The advanced filter can help us quickly build up peer groups according to different criteria, and generate analyses and tailor-made reports very effectively.
Results and What’s Next
As an asset manager specializing in investment solutions , it’s important to seek a solution that also integrates data for private markets activity. While established data vendors exist for private funds, ITERAM will find value to have all the data within one single database.
Venn is pleased to share this as a currently planned initiative and looks forward to further partnering with ITERAM.
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