Trium Avala Dynamic Equity: Adaptive Low‑Beta Long/Short

Trium Avala Dynamic Equity is a quantitative, low‑beta long/short equity strategy managed by Trium Capital in London. The fund combines multiple systematic models with a constrained market‑exposure overlay to seek returns across different market regimes.

The strategy uses seven objective stock‑selection model groups and reallocates between short‑term statistical‑arbitrage models and slower, fundamental signals. A tightly constrained variable beta adjusts overall market exposure. The fund can operate on daily or monthly dealing terms to maintain liquidity.

Trium relies on model signals rather than macro forecasts. Allocation between faster and slower models is determined by observed style regimes and factor behaviour; periods of higher factor dispersion and breakdowns of crowded trends typically increase the weight of faster models.

Dan Jelicic, the portfolio manager, developed the Dynamic Equity concept in 2013 and joined Trium in 2019. His prior roles include managing an equity market‑neutral fund at ABN AMRO and working as a quantitative researcher at JPMorgan. He is a Fellow of the Institute of Actuaries (UK) and holds MSc degrees in electrical engineering and mathematical trading and finance. The strategies earned the Hedgeweek European Awards 2026 UCITS Performance of the Year: Alternative Strategies.

Jelicic identified the start of the so‑called “quant winter,” when crowded factor relationships unraveled, as the strategy’s largest stress test. Trium maintained the investment process and relied on diversification across model groups, pairing slower fundamental signals with faster short‑term models to rebalance exposure during regime shifts.

Trium offers the strategy in UCITS and Cayman structures and can provide segregated mandates and custom exposures for institutional clients. The firm highlights manager co‑investment and a portfolio manager‑centric operating model supported by independent risk, compliance and operations.

Trium reports rising interest among European investors in liquid alternatives that aim to diversify equity and bond allocations without capital locks. The firm notes UK wealth managers prioritise cost, access and transparency, while some continental European allocators prefer larger, established managers.