Discretionary investment mandate
Necker All Weather
Multi-asset risk-parity strategy · US dollar · Interactive Brokers account
A mandate built to grow capital over several years without depending on a single market or a single economic scenario.
- Annualised return
- 7.02%since launch
- 2026 return
- +4.37%January to August
- One-year return
- +8.23%to end August 2026
- Volatility
- 6.45%since launch
- Sharpe ratio
- 1.09since launch
- Maximum drawdown
- −5.58%since launch
Calculated with a risk-free rate of 0%: the annualised return divided by the volatility.
The largest peak-to-trough decline in value, calculated on monthly data, here from August to October 2023.
Aurora All Weather strategy, managed by Aurora Investment Solutions. Data at 31 August 2026, net of fees, in US dollars. Past performance is not a guide to future performance.
All Weather
How the portfolio is built
In a classic portfolio, equities carry most of the risk even when they make up only half of the money invested. The mandate spreads risk across asset classes that react differently to the same economic conditions: government bonds, inflation-linked bonds, gold and commodities, equities.
The aim is steady progress over several years, with limited declines.
- Bonds 69.75%
- Gold and commodities 21.25%
- Equities 9%
The six holdings
- US fixed-rate government bondsBenefit from weak growth or falling inflation
- 38%
- US floating-rate government bondsTrack short-term rates, little sensitivity to rate rises
- 21%
- US inflation-linked government bondsIndexed to inflation, useful when it runs high
- 10.75%
- Commodities — energyBenefit from high inflation or strong growth
- 10.75%
- GoldBenefits from high inflation and periods of uncertainty
- 10.5%
- EquitiesBenefit from strong growth
- 9%
Each holding is a listed, liquid, low-cost ETF held directly in your account. The three bond holdings are invested only in US government bonds, rated AA+ by S&P, chosen for their liquidity and the diversification they bring. The allocation is reviewed every month.
Capital allocation, not risk allocation. It changes with rebalancing. No holding protects in every case.
Track record
Since inception
Aurora All Weather · base 100 in October 2022 · US dollar · net of fees · data at 31 August 2026
Indicative curve reconstructed from the rounded monthly returns; it may differ slightly from the original.
Calendar-year results
Aurora All Weather · net of fees, in US dollars.
- 2022November to December
- +2.62%
- 2023full year
- +4.49%
- 2024full year
- +6.16%
- 2025full year
- +9.17%
- 2026January to August
- +4.37%
Past performance is not a guide to future performance. The value of investments can go down as well as up and invested capital is not guaranteed.
All monthly returns
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | – | – | – | – | – | – | – | – | – | – | +2.77% | -0.15% | +2.62% |
| 2023 | +3.35% | -3.77% | +2.79% | +0.78% | -1.87% | +0.58% | +1.77% | -1.82% | -3.12% | -0.73% | +5.11% | +1.74% | +4.49% |
| 2024 | -0.48% | -0.73% | +3.63% | -0.90% | +0.39% | +1.60% | -1.05% | +3.71% | +1.51% | -1.72% | -0.02% | +0.22% | +6.16% |
| 2025 | +1.42% | +0.36% | +0.62% | +0.58% | -0.33% | +0.87% | -0.09% | +1.75% | +1.57% | +0.75% | +1.00% | +0.33% | +9.17% |
| 2026 | +2.72% | +1.92% | -1.16% | +1.39% | +0.07% | -3.36% | +0.44% | +2.42% | – | – | – | – | +4.37% |
The mandate in practice
- Minimum investment
- USD 5,000to open, then additional investments from USD 1,000
- Suggested horizon
- At least three years
- Reference currency
- US dollar
- Risk level
- 4 out of 7
- Nature
- Discretionary investment mandate, signed with Necker Finance
- Management
- Fully discretionary, monthly rebalancing
- Account
- Individual Interactive Brokers account opened in your name by Necker Finance; segregated assets, direct access to the platform and the IBKR Mobile app
- Instruments
- Liquid, low-cost listed ETFs, held directly
- Exit
- Withdrawal possible at any time, under the terms of the mandate
Risks
Invested capital is not guaranteed.
- Capital
- Not guaranteed. The value of the portfolio can go down as well as up.
- Diversification
- It spreads the sources of risk; it removes neither fluctuations nor losses. A simultaneous rise in real interest rates weighs on several asset classes at once.
- Exposures
- Markets, interest rates, ETF liquidity, and exchange-rate risk on the dollar depending on your reference currency.
- Exit
- Possible at any time, but an early exit may take place in unfavourable conditions.
Next
A first conversation with an adviser
An adviser reviews your objectives, horizon, liquidity needs and capacity for loss with you.
In French or in English.
The figures are the strategy’s at 31 August 2026; a client’s portfolio may differ from them. This page is not personalised advice. Before any decision, read the mandate documentation; it is for you to check, with independent advice if you wish, that the mandate suits your situation.