FIBCOS Netherlands Alpha Portfolio

Overview

To hold the highest-conviction subset of the FIBCOS Netherlands Structural Alpha Index, sized according to conviction, structural durability and the concentration limits set out in the portfolio methodology.

The portfolio draws exclusively from the FIBCOS Netherlands Structural Alpha Index. Index membership is a necessary condition for selection, not a sufficient one.

Current status: Not Yet Incepted. The portfolio framework exists. No capital has been allocated, no inception date is set and no performance record exists.

Model convention

Every FIBCOS Alpha Portfolio is modelled at a fixed notional base of US$1,000,000. The base is a sizing convention, not a capital commitment: it is identical in every market, so a position weight, a contribution and a portfolio change mean the same thing in Pakistan as they do in Japan, and the 45 portfolios are directly comparable to one another.

The base is fixed and illustrative. It does not grow or shrink with performance, it is never restated after the fact, and it is not assets under management — FIBCOS does not manage third-party capital. Returns are reported as percentages measured against a benchmark adopted before inception; the notional base exists so that those percentages have a stated, constant denominator.

Construction methodology

• Eligibility is restricted to companies holding Active status in the country's Structural Alpha Index.
• Companies under review are not eligible for entry and are not added to while under review.
• Position sizing reflects conviction and the assessed durability of the structural driver, not index weight.
• Concentration limits are stated before inception rather than derived from results.
• Turnover is expected to be low; entries and exits follow research conclusions rather than price movement.
• Cash is a residual of the research process, not a market-timing decision.

Benchmark

No benchmark has been established for the FIBCOS Netherlands Alpha Portfolio. A benchmark will be selected from the portfolio's realised geographic exposure, market-capitalisation profile, investment universe, strategy and currency treatment, and adopted before live inception. FIBCOS does not treat a country's main stock index as an automatic benchmark.

Benchmark selection follows the portfolio’s realised characteristics — geographic exposure, market-capitalisation profile, investment universe, strategy and currency treatment — and is documented in the Benchmark Methodology.

Portfolio changes

Entries, exits and position changes are published in Intelligence and summarised in the monthly performance report. No portfolio changes have been recorded.