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Regime-aware
Factor weighting adapts to the macro regime read. The model does not assume yesterday's playbook works tomorrow.
Proprietary engine
GT CORE.
A discretionary engine,
built in-house.
GT CORE is GAP's proprietary, discretionary engine — historically a core strategy within MSF1, now also offered as a standalone product. It combines an in-house quantamental model — proprietary macro signals, fundamental conviction and disciplined risk overlays — to generate returns orthogonal to traditional risk assets. Typically invested in equities across major developed markets at low frequency, with few but highly selected trades and residual exposure to commodities and debt instruments. Entirely owned and operated by GAP.
Principles & constraintsWhat GT CORE is.
What GT CORE is.
What it isn't.
GT CORE is defined as much by what it pursues as by what it deliberately avoids. Both sides enforced by the model, daily.
What we are
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Risk-first
Position sizing, exposure limits and drawdown control enforced before any directional view.
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Dislocation-driven
Trades express specific dislocations or relative-value setups — not consensus bets, not crowded mega-trends.
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Fully transparent
Every trade explainable. The model informs; the team decides.
What we are not
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No leverage, no short
Returns generated on unlevered, long-only capital — no path to forced deleveraging.
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Not high-frequency
Approximately 5 trades per month, each carefully sized. Slow, deliberate cadence.
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Not algorithmic
Human discretion at every trade. No black-box execution, no "the model said so" alibi.
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No FX exposure
Currency risk neutralized at the portfolio level. FX is never a return driver.
How it worksSignal, conviction, discipline.
Signal, conviction, discipline.
A continuous loop.
Two decades of accumulated research distilled into a single repeatable framework — macro signals, fundamental conviction and risk discipline combined in a daily loop. Same model, every day, across every regime.
01
Macro regime read
Structured read of global macro conditions — growth, liquidity, inflation, policy. Variables update daily and map to a regime classifier reviewed weekly, setting the context in which the underlying conviction operates.
02
Fundamental conviction & universe ranking
Within each regime, the global equity universe is ranked on quality, growth durability, capital discipline and valuation. Conviction-weighted (not market-cap) candidate list refreshed daily.
03
Portfolio construction with risk overlay
A separate risk layer constrains the portfolio at position, sector and factor level. Positions are sized by conviction within bounded limits — no mechanical equal-weighting, no leverage.
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Execution & monitoring
Tier-1 venues. Daily P&L attribution. Drift, factor exposure and risk concentration monitored continuously — not at month-end.
Access
Two ways to invest in GT CORE.
Within MSF1
As one of the strategies
Inside the multi-strategy fund
- GT CORE as Engine I inside MSF1
- Alongside Engine II — a curated roster of elite EPMs
- Single multi-strategy return profile
- BVI Professional Investment Fund vehicle
- Min subscription USD 100,000 · Quarterly liquidity
Standalone
GAP-SP8 sub-fund
100% GT CORE exposure
- Single-strategy mandate
- Pure exposure to the GT CORE engine
- Dedicated sub-fund of the GAP SPC structure
- Same governance, custody, auditor as MSF1
- Min subscription USD 100,000 · Monthly liquidity
Documentation
Request the GT CORE pack.
Dedicated factsheet, model description and historical performance of GT CORE are available on request to eligible investors.