37.

69%
14.09%
16.26%
HRFX Equity Hedge Index
Dalma Unied Return Fund
Balanced Portfolio
Aug 12 Aug 14 13
Outperformance
Risk-Adjusted
Delivering performance
is about more than
generating returns when
times are good.
Long-term performance
is about protecting and
compounding those gains
by managing risk..
Dalmas core fund has outperformed on an
absolute basis since inception.
We evaluate returns on a risk-adjusted
basis; by these measures, our relative
outperformance demonstrates the
efectiveness of sound risk-management
in our strategy for long term capital
appreciation.
The Dalma Unifed Return Fund
Consistent; Resilient; Uncorrelated.
Robust risk management is the core
of Dalmas portfolio design.
Our sophisticated strategy is
designed to maintain liquidity,
stability and resilience through
tumultuous markets.
Historically, we delivered our best
out-performance when markets
faired poorly.
By maintaining low correlation,
reduced beta and low volatility,
Dalma seeks to generate consistent
and stable returns that are
independent of market conditions.
Dalmas mission is to enhance the
investors overall portfolio as a robust
diversier and safeguard against
periods of volatility, illiquidity and
uncertainty.
Risk-Management
Our Core Competency
The essence of portfolio
management is the
management of risks before
the management of returns.
Serving Clients.
Boutique Service
Institutional Sophistication
Communication, transparency and
responsiveness are key to building
the foundations of a long-term
relationships.
We dont expect clients to give us
their trust until weve earned it. By
providing clients with transparency
and third party oversight within a
robust regulatory framework - we
hope to build long-term relationships
with our clientele.
Bespoke, agile and
conscientious service for an
exclusive group of investors.
Technologically advanced,
globally regulated and
institutionally operated for
sophisticated clientele.
Dalma limits the number of clients
and assets accepted in order to
ensure consistent delivery of the
service we dedicate to our clients.
Exclusivity allows us to create an
involved and enhanced experience
for the client. Combining industry
leading nancial technology and
world class service providers
ensures institutional-class
implementation.
Aligned Interests
Strategic Partnerships
Dalma seeks to transcend the
investor:fund relationship by
forming partnerships with our
clients for shared success.
Aligned Interests.
Interests are aligned through
co-investment, performance based
compensation and incentives for
risk-aversion above all else.
No lock-ups, No subscription fees,
No redemption fees - we expect
the majority of our compensation
to be generated from delivering
performance. Our focus is to
manage assets rather than gather
assets.
In the event of downturns, we cease
to accrue performance fees until
a highwatermark and hurdle are
surpassed.
This ensures that, above all else, that
we seek to protect the investors
downside.
Boutique Service
Institutional Sophistication
Bespoke, agile and
conscientious service for an
exclusive group of investors.
Technologically advanced,
globally regulated and
institutionally operated for
sophisticated clientele.
Experienced Leadership
Progressive Innovation
Over eight decades
of combined industry
experience.
Dalmas Team combines
progressive innovation with
enduring market wisdom.
Time Tested.
Six years of research and
development based on forty-seven
years of back-testing analysis.
Dalmas approach was developed
and optimized by a prodigious
team with over eight decades of
combined experience.
Dalma Capital kept its fund closed to
outside investors for the rst twenty-
two months of trading.
This enabled us to carefully rene
our approach to ensure efciency,
liquidity, scalability and performance.