The diversified core
Broad ownership of the world's companies and high-quality bonds through low-cost funds, plus a cash reserve. The foundation every portfolio holds; for some clients, the whole portfolio.
Inherent Wealth Fund
Investment theses
These are our building blocks. Every portfolio starts from a diversified core; which themes sit on top of it, and how much of each, is decided by the client's own investment policy: goals, horizon, liquidity and tolerance for risk. Each thesis says what is changing, how we express it, what would make it wrong and who it is for. We publish the reasoning, not the positions.
Income and capital preservation
A bond ladder maturing into the years the money is needed, a reserve for the nearest ones, and dividend equity where income must grow. Sized from the spending plan backwards.
Artificial intelligence and compute
The capital cycle behind model training and inference: chips, power, cooling, memory and the software layer on top. A sleeve where a client's policy calls for growth.
Decentralized infrastructure
The rails, custody and settlement layers being rebuilt outside the traditional intermediaries, held only through regulated vehicles and only with a hard position limit.
Power and the grid
Electricity demand is rising again after two flat decades, and the grid was built for the old demand. Under study as a lower-volatility expression of the compute theme.
Healthcare and longevity
Ageing populations and a generation of new treatments, from metabolic drugs to cell therapies. Under study, through diversified exposure rather than single-drug bets.