Skerryvore Asset Management

Skerryvore pursues a discretionary global macro strategy. The firm takes directional and relative-value positions across foreign exchange, sovereign rates, commodities, and equity indices globally. It is known for running a concentrated book, sizing positions on high conviction and using options to construct asymmetric payoffs when market conditions warrant.

The firm emphasizes capital preservation through rigorous scenario analysis and downside management. Rather than spreading risk across many small positions, Skerryvore actively sizes trades based on conviction and uses options and structured products to define risk and construct asymmetric return profiles. It also maintains the discipline to hold significant cash when the opportunity set lacks clear edge.

Skerryvore operates with a global mandate, focused primarily on G10 economies. Public filings show activity in major currency pairs, US and European government bond markets, and global commodities. The firm selectively enters emerging markets where liquidity and macro catalysts align with its concentrated, high-conviction approach.