BVI FSC Approved ManagerIBR/AIM/26/2644
Investor Guide
How your capital is held, where every fee sits, and what can go wrong. Twelve chapters, all open, starting with a 60-second check of your own shelf.
CredentialsQlumina Inc.Approved Investment Manager, BVI Financial Services Commission
Registered officeRodus Building, P.O. Box 3093, Road Town, Tortola VG1110, British Virgin Islands.
Chapter 1Shelf check
Take the 60-second check before you read on. It tells you which chapters matter most to you.
Chapter 2Ownership
Switch the structure, then point at a number.
Own the brokerage account and all underlying assets directly.
Holds custody of funds; strictly restricts the LPOA to trading commands.
Trading execution rights only, never the ability to withdraw, transfer, or encumber capital.
Executes strategy; zero withdrawal or asset-transfer capabilities.
Broker-level risk control
Certain prime brokers offer automated risk controls configured at the account infrastructure layer, independent of the investment manager. The example from this guide: $1,000,000, a 10% maximum drawdown tolerance, a floor at $900,000.
Executes strategy under a limited power of attorney. No withdrawals, no asset transfers, and no say over the layer below.
Below the floor: positions closed10% tolerance
The brokerage account and every asset in it stay in your name.
If equity touches the floor, the broker:
Chapter 3Structures
Pick what matters to you. The structures answer side by side.
Individually managed portfolios where the investor retains direct legal and beneficial ownership of all assets in their own segregated brokerage account.
Daily
Positions may be liquidated or the mandate terminated on any business day.
Securitized investment products tracking a Qlumina strategy with an ISIN, issued through an institutional issuance vehicle or bank.
Weekly
Weekly subscription/redemption; secondary market if exchange-listed.
Pooled investment vehicles structured as limited partnerships or corporate funds, offering scalable access to complex or capacity-constrained strategies.
Monthly (with notice)
Subject to notice (typically 30–90 days), with possible initial lock-ups and gates.
Chapter 4Vs fund
Investors pool capital into a single corporate or partnership vehicle that owns the underlying positions.
Assets remain segregated with zero commingling, and the investor verifies all activity through their own brokerage statements.
Full comparison Trade-only limited power of attorney managed accounts
Chapter 5SMA
An individually owned investment portfolio managed on behalf of a single investor, with assets held in a segregated brokerage account in the investor's own name.
Qlumina does not hold, control, or withdraw investor funds. It is granted a Limited Power of Attorney permitting only the transmission of trading signals.
Chapter 6Fund or SMA
Three answers, five rows. Every line below is a fact from this guide.
Clears the $100K minimum per program
Below the indicative $250K+ in the offering memorandum
A segregated brokerage account in your own name. Qlumina never takes custody; the limited power of attorney covers trading only.
Fits your answerThe fund holds the assets, through its administrator and prime broker. You hold shares or limited partnership interests.
Differs from your answerDaily. Positions may be liquidated or the mandate ended on any business day.
Fits your answerMonthly, with notice of typically 30 to 90 days. Initial lock-ups and gates are possible.
Differs from your answerManager fee visible line by line on your own account. No front-end load, back-end load or custody fee.
Management and performance fees sit inside the NAV. Entry and exit charges vary by fund.
Real-time broker access 24/7, plus daily broker statements.
Periodic NAV, monthly or quarterly, verified by an independent administrator.
End the mandate when you decide. Nothing is locked.
Fits your answerRedeem in a window on the fund's schedule, subject to notice, lock-ups and gates.
Differs from your answerIndicative terms. The terms that bind are the ones in your mandate. Not investment advice.
Chapter 7Fees
In your own account, a fee is a line you can read.
Managed accountEvery position, in your name
FundA share of the vehicle
Managed accountA visible line on your account
FundInside the vehicle, in the NAV
Managed accountOn net new profits above the monthly high-water mark
FundInside the vehicle, in the NAV
Managed accountNone, no front-end load
FundVaries by fund
Managed accountNone, no back-end load
FundVaries by fund
What you see. Managed account: every position and every fee line, and no custody fee at the broker. Fund: one NAV per share.
Fig. 3Structure only. No fee levels are shown; the terms that bind are the ones in your mandate.
Fee mechanics
The high-water mark ensures a manager only earns performance fees on net new profits — recovering any prior drawdowns before earning further fees — aligning manager incentives with investor outcomes.
Chapter 8Evidence
Four independent sources, triangulated before any track record is presented.
01 / 03
Every track record is checked against four independent records before it is shown.
02 / 03
AI operates as a powerful accelerant to human judgment. It never replaces human fiduciary oversight.
Deep data analysis, feature extraction, and automated factor testing across decades of tick-level market data.
Algorithmic verification of timestamped fills, detecting overfitting, hidden regime bias, and tail risks.
Live factor drift tracking, automated intraday VaR boundary enforcement, and liquidity regime classification.
All portfolio allocations, capital adjustments, and risk parameters require veteran human fiduciary sign-off.
03 / 03
Programs fall into three families, each built on a different market behavior.
Systematic trend & macro
Adaptive multi-horizon trend identification across 45+ liquid CME global futures. Designed for crisis alpha and sustained directional expansion.
Statistical arbitrage
Paired equity trades exploiting temporary statistical pricing dislocations in S&P 500 and Russell indices with strict beta neutrality.
Alpha acceleration
Deep-learning regime classification isolating structural capital inflows into liquid US equities with disciplined weekly reconstitution.
Chapter 9Risk
Where each risk sits, from the signal to your capital. Nothing here is summarized away.
01 / 03
Models can fail when markets change character. These are the controls against it.
Adverse price movements, systemic liquidity dry-ups, and macro shocks.
Algorithmic signal decay during unprecedented market regime shifts.
Quantitative research is guarded by rigorous walk-forward cross-validation, out-of-sample stress testing across disparate market regimes (including the 2008 Global Financial Crisis, 2020 Liquidity Shock, and 2022 Inflationary Cycle), and combinatorial purged cross-validation to prevent data snooping and look-ahead bias.
02 / 03
Orders, custody and, for certificates, the issuer each add a risk of their own.
Latency and spread widening during fast-moving macroeconomic events.
Operational or financial distress at prime brokers, custodians, or issuers.
Because an AMC is a debt obligation of the issuer, issuer insolvency may result in the partial or total loss of invested capital, regardless of the underlying quantitative strategy's performance. Counterparty creditworthiness must be evaluated prior to allocation.
03 / 03
Whatever goes wrong above lands here.
Qlumina does not guarantee any return of capital or specific performance outcome. All quantitative and alternative investments involve substantial risk of loss, including the possible loss of principal.
Reference desk
24 topics across risk, structures, operations and regulation. Search them, or browse by section.
24 of 24 topics
Risk
Qlumina does not guarantee any return of capital or specific performance outcome. All quantitative and alternative investments involve substantial risk of loss, including the possible loss of principal.
Chapter 10Glossary
14 terms you will meet in a mandate.
Chapter 11Questions
Straight answers drawn from the chapters above. Search them, or read them all.
In a fund, investors pool capital into a single corporate or partnership vehicle that owns the underlying positions. In an SMA, assets remain segregated with zero commingling. This delivers direct transparency into every open position, daily liquidity, the ability to impose personalized restrictions, and, in many jurisdictions, individual tax-loss harvesting advantages. The investor verifies all activity through their own brokerage statements — visibility not possible in pooled offshore structures with monthly or quarterly reporting lags.
Assets are held in a segregated brokerage account in the investor's own name at an institutional prime broker or custodian. Qlumina never takes custody of funds and is granted a Limited Power of Attorney permitting only the transmission of trading signals, never the ability to withdraw, transfer or encumber capital.
An AMC is a note or certificate issued by a bank or special purpose vehicle that tracks an actively managed strategy. It is a claim against the issuer, so issuer credit risk applies in addition to the strategy's market risk.
In an SMA the management fee is annual % of aum, billed monthly pro rata, and the performance fee is charged on net new profits above monthly hwm. The investor verifies the fee basis on their own account statements. A manager only earns performance fees on net new profits, recovering prior drawdowns before earning further fees.
Every SMA program carries the same $100K minimum, set platform-wide. FX & liquid CFDs: High turnover, tight spreads, flexible fractional allocation. US liquid equities: Direct exchange execution across major US equities and ETFs. CME global futures: Futures trade in whole contracts, so a smaller account holds fewer contracts across a multi-asset book. The terms that bind are the ones in your mandate.
Qlumina accepts allocations strictly from Professional Investors, High-Net-Worth Individuals (net worth exceeding US$1,000,000 excluding primary residence), and Institutional Counterparties as defined under the BVI Securities and Investment Business Act, 2010 (SIBA). Retail clients are strictly prohibited.
Qlumina Inc. is incorporated in the British Virgin Islands as a BVI Business Company (No. 2201896) and approved by the BVI Financial Services Commission as an Approved Investment Manager under the Investment Business (Approved Managers) Regulations, 2012, Certificate No. IBR/AIM/26/2644. Its Legal Entity Identifier is 9845000BG592F5189B91. Approved Manager status is a category of authorization with regulatory conditions, and it is not a guarantee of any investment outcome.
Request access to start investor onboarding, or talk to the desk. The sequence is eligibility, KYC and AML checks (identification, proof of address, source of wealth and eligibility sign-off), execution of the investment management agreement and limited power of attorney, account opening at an approved prime broker in your own name, and funding.
Chapter 12Access
Seven steps, from first contact to an account you can watch.
Start Investor Onboarding, or talk to the desk.
Professional investors, high-net-worth individuals and institutional counterparties under SIBA. No retail clients.
Compliance review and formal institutional clearance.
Execute the IMA and LPOA granting trading execution rights only.
Open an account at an approved prime broker in the investor's legal name.
Fund the account directly. Qlumina commences algorithmic strategy execution.
Full real-time account access 24/7 plus daily broker statements.
Investing involves substantial risk of loss. The value of investments and the income derived from them can fall as well as rise, and investors may not recover the amount originally invested. Past performance is no guarantee of future returns. Nothing in this document constitutes financial, legal, tax, or investment advice.
Qlumina Inc. is incorporated in the British Virgin Islands as a BVI Business Company (No. 2201896) and approved by the BVI Financial Services Commission as an Approved Investment Manager under the Investment Business (Approved Managers) Regulations, 2012, Certificate No. IBR/AIM/26/2644.
