The Forum Global Opportunities Fund employs a discretionary thematic style of global macro investing. The strategy is focused on identifying and analyzing macroeconomic trends and processes and determining how they will impact, positively or negatively, various geographic regions and asset classes. Forum's investment process is proprietary and tends to be non- consensus as the strategy is predisposed to identifying mispricing, dislocations and distortions created by macroeconomic forces.
Forum is comprised of a small, cohesive investment team led by Dr. Ray Bakhramov, who draws upon two decades of investment experience in developed and emerging markets. Since launching in August 2005 the Forum Global Opportunities Fund has generated annualized returns of 21.33% for investors, which include high net worth individuals, family offices, pension funds, college endowments, and funds of hedge funds. Mr. Bakhramov has the majority of his net worth invested in the fund, ensuring the proper alignment of interests with investors.
Forum is registered with the U.S. Securities and Exchange Commission as an investment adviser and with the U.S Commodity Futures Trading Commission as a Commodity Pool Operator/Commodity Trading Adviser and is a member of the National Futures Association.
Typically 100% of the fund can be liquidated within two trading days in normal conditions. Investing in liquid instruments enables the Fund to make meaningful portfolio adjustments quickly.
The team has extensive experience investing across all asset classes in both developed and emerging markets with an average of 18 years professional experience and five years with the Fund.
Focus on identifying and capitalizing on market mispricing, distortions and dislocations created by macro processes. Core positions are structured to optimizerisk/reward and typically contain significant optionality.
Forum's team structure is deliberately small and cohesive to ensure better control of risk and greater velocity of idea flow. The team structure allows the Fund to identify, assess and act upon opportunities rapidly and make material portfolio decisions quickly.
Since launching in April 2005 the Forum Global Opportunities Fund has generated annualized returns of 21.33% for investors through varying market environments and economic cycles with low/negative correlation to equity, fixed income, and hedge fund indices.
The Fund is fully transparent to investors. Portfolio Detail Reports are available to investors on a monthly basis. Position level detail affords investors the ability to understand how the Fund's exposures affect the overall risk of their portfolios.
Dr. Bakhramov has primary decision making authority for the Forum Global Opportunities Fund. Prior to joining Forum, Dr. Bakhramov was at Columbus Advisors where he developed and implemented numerous investment and trading strategies (relative value, sovereign/corporate bonds, distressed situations, local markets, options and equities). Previously he was a sales trader at Renaissance Capital Group in Moscow responsible for client trading and analysis of Russian fixed income instruments. >From 1994 to 1996, Dr. Bakhramov was at Credit Suisse First Boston where he structured asset-backed securities transactions. Dr. Bakhramov holds a Master of Science in Economics and a PhD in Economic Theory from the St. Petersburg Polytechnik Institute in St. Petersburg, Russia.
Mr. Siegel is an analyst for the Forum Global Opportunities Fund. He has worked for over a decade in the emerging markets. Prior to joining Forum, he advised Emvest Asset Management, a South Africa- based emerging markets fund investing in real assets across Southern Africa, and worked in the Global Structuring and Global Markets Solutions Groups at Credit Suisse Securities (USA) LLC. His responsibilities at Credit Suisse included emerging markets and energy portfolio management, structuring, and origination across corporate, project finance, and sovereign fixed income. He started his career as a FICC Summer Associate at Goldman Sachs. Mr. Siegel holds a B.A. in Classics from Yale University, a MS degree in Russian and Post-Soviet Studies from The London School of Economics, and a MPA in Macroeconomic Policy and Quantitative Analysis from Harvard University. He speaks French, German, and Spanish.
Mr. Rybalov is the COO / Risk Manager for the Forum Global Opportunities Fund, Ltd. He has worked for over a decade in the emerging markets. From 2005 until 2009 he was a Research Director of Russia and Frontier Funds at Alden Global (a division of Smith Management). His responsibilities included portfolio equity investments in Russia and the CIS, Indian subcontinent and Sub-Sahara Africa. Prior to Smith, Mr. Rybalov worked in Alexandra Investment Management from 2003 to 2004 in the capacity of an analyst. From 1995 until 2000, Mr. Rybalov worked at the Bank of America in New York in the Emerging Markets department, first as a macroeconomic analyst and then as a trader on the proprietary desk primarily dealing in fixed income instruments. Mr. Rybalov graduated from the Wharton School of the University of Pennsylvania in 1995 with BS degree in Economics and from New York University in 2003 with MS degree in Financial Mathematics. Mr. Rybalov is a Russian native-speaker.
Mr. Graser is the firm's Chief Compliance Officer. Mr. Graser is also Chief Compliance Officer and President of Mann Mann Jensen Partners LP ("MMJ"), a SEC and CFTC registered broker-dealer and member of FINRA and NFA, respectively. He also is a Compliance Consultant for Waypoint Asset Management LLC. From March 2004 to July 2009 he was Chief Compliance Officer of VegaPlus Capital Partners (USA) LLC and its successor company Proxima Alfa Investments (USA) LLC and from January 2006 to June 2009 also for Vega Securities LP and its successor company Proxima Alfa Securities LP and MMJ. From April 2004 to December 2007 he was Compliance Consultant to Nighthawk Partners Inc., a SEC registered broker-dealer. From 2002 - March 2004 he was Executive Vice President of Global Payments Advisory Group LLC, New York (an AML/Compliance consulting firm) with global sales/marketing responsibilities. From 1989-2002 Mr. Graser was Senior Vice President at ABN AMRO Bank, New York, with global sales/marketing responsibilities. Mr. Graser began his US financial career in 1979 with Clairol (formerly a division of Bristol-Myers) as Treasury Analyst. In 1981 he joined Marine Midland Bank (now HSBC) in New York as International Associate and was appointed in 1982 to be the bank's representative in Frankfurt. Germany. In 1987 he transferred to the bank's Investment Banking Division in New York as Vice President. Mr. Graser received a BSc in Business Economics and a MBA in Finance from the University of Bridgeport, Connecticut. He holds FINRA licenses 3, 7, 24, 63, and has the National Regulatory Services' certification of Investment Adviser Certified Compliance Professional.
Mr. Verdesoto is the Controller for the firm. He has over six years of experience and is responsible for the accounting of the Investment Manager and its affiliated entities. Prior to Forum, he worked at Vision Model New York, responsible for the firm's bookkeeping and payroll accounting. Mr. Verdesoto holds a Bachelor of Administration in Accounting from Monroe College and a Spanish native-speaker.
Mr. Gevera is the firm's Operations Manager. His responsibilities includes trade processing, settlement, and reconciliation, trade break resolution, collateral monitoring, positions reconciliation, account openings, and daily P/L calculations. Prior to Forum, he worked at Allied Bank and Easy Call Communications in the Philippines. Mr. Gevera holds a Bachelor's Degree in Accountancy from The University of The East, Philippines.
Ranked #4 on BarclayHedge Top 10 Macro (Jan 2014)
Ranked #2 on Global Macro Trader Top 20 Global Macro Funds Ending 2Q 2013 (October 2013)
Ranked #7 on Bloomberg Top 10 Global Macro - Five-Year Total Returns (July 2013)
Ranked #8 on Bloomberg Top 10 Global Macro - By 2013 Year-to-Date Returns (July 2013)
Ranked #8 on Bloomberg Top 10 Global Macro Funds - Five-Year Total Returns (Nov 2012)
Ranked #82 on Barron's Top 100 Hedge Funds (May 2012)
Ranked #3 on Bloomberg Top 10 Global Macro Funds - Trailing 5-Year Total Returns (May 2012)
Ranked #1 on Bloomberg Top 10 Global Macro Funds - Trailing 5-Year Total Returns (Sep 2011)
Ranked #5 on BarclayHedge Top 10 Macro - Past Three Years (3Q 2011)
Winner HFM Awards US Performance Macro Under $1bn (2010)
Ranked #2 on Bloomberg Top 10 Global Macro Funds - Trailing 36-Month Total Returns (Nov 2010)
Featured in AbsoluteReturn "Funds to Watch" (2009)
Finalist HFM Awards US Performance Macro Under $1bn (2009)
Winner HFM Awards US Performance Newcomer-Other (2008)