At a glance
- Hedged Equity targets risk-adjusted returns by balancing upside capture with downside mitigation, and Carry Neutral Tail Hedging is designed to protect against a range of stock-market declines while limiting the cost of protection.
- Smith, identified in the release as chief investment officer of Convex Asset Management, previously managed money at QVR as a senior portfolio manager.
- Kai Wealth designs whole portfolios around risk-adjusted return for wealthy families, family offices and institutions and runs a turnkey platform other advisory firms use.
Kai Asset Management, an affiliate of Kai Wealth, hired former QVR portfolio managers Noel Smith and Scott Maidel to run its institutional business and will launch two funds under the KaiConvex brand, the firm said in a Nov. 9 release.
The first two strategies, Hedged Equity and Carry Neutral Tail Hedging, launch Dec. 1. Hedged Equity targets risk-adjusted returns by balancing upside capture with downside mitigation, and Carry Neutral Tail Hedging is designed to protect against a range of stock-market declines while limiting the cost of protection. Smith, identified in the release as chief investment officer of Convex Asset Management, previously managed money at QVR as a senior portfolio manager. Maidel was a QVR partner who ran its hedge-fund business and helped manage its biggest strategy. Kai, founded in January 2025, manages about $500 million.
Kai Wealth designs whole portfolios around risk-adjusted return for wealthy families, family offices and institutions and runs a turnkey platform other advisory firms use. It is now offering venture funds and institutions the hedging it has done for family offices: custom options overlays that hedge large holdings, and loans against those holdings structured with box spreads. Fees, fund structures and minimums for the two KaiConvex strategies were not disclosed. For advisors weighing the funds for client accounts, the number that matters is the gap between their all-in cost and the structured notes most investors buy from banks. Kai says it builds the protection from exchange-traded options at a fraction of that cost.
Reported by the RIA desk from GlobeNewswire. Published . Corrections