Figure World Equity
Annualized net return
The Figure World Equity Strategy is an actively managed global equity portfolio that seeks to outperform the FTSE Developed Net Total Return USD Index based on global macro research and insights.
Annualized net return
Figure World Equity
Equities and FX
20% of outperformance
FTSE Developed Net Total Return USD Index
The Fund is an actively managed global equity portfolio that seeks to outperform the FTSE Developed Net Total Return USD Index based on global macro research and insights. The strategy utilizes a top-down macro approach focused on how central bank and other institutional activity impacts global equity and currency markets, generating consistent outperformance through identification of global secular trends and idiosyncratic dynamics. The Figure Investment Advisors LLC (“FIA”) team draws on deep experience in monetary policy, capital markets and trading to develop unique macro insights. Potential drivers of outperformance include country over/under weights, aggregate exposure adjustment and regional equity index selection.
Past performance is not indicative of future returns. Please read World Equity Legal Disclaimer.
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The Figure Investment Advisors LLC team has managed the World Equity Strategy since 2007 for a large family office. FIA, an SEC Registered Investment Advisor and wholly owned subsidiary of Figure Technologies Inc., recently created and seeded a commingled Fund vehicle in order to offer the World Equity Strategy more broadly to accredited investors.
The four person investment committee has over (80) years of markets experience and regularly publishes thought leadership pieces on the macro economy. The Fund is led by Investment Committee Chair Mike Cagney, Portfolio Manager Bill White, Chief Economist Dr. Michael Dooley, and Senior Director of Research Dr. Evan Smith.
Mike Cagney is the co-founder and CEO of Figure Technologies, Inc. Previously, Mike was Co-Founder and CEO of SoFi, as well as Co-Founder and managing partner of Cabezon Investment Group. Mike was Head of Financial Products and proprietary trading at Wells Fargo. Mike has extensive experience in consumer credit, ABS, MBS/RMBS, capital markets, and Global Macro, FX, Equity and Credit PM experience. Mike has a BA and MA from University of California at Santa Cruz and was a Sloan Fellow at Stanford Graduate School of Business.
Dr. Dooley is Chief Economist for Figure Investment Advisors and a Professor Emeritus of Economics at the University of California at Santa Cruz. He spent more than twenty years working at the Federal Reserve and IMF and regularly advises on monetary policy matters. Dr. Dooley has published extensively on open economy macroeconomics including Bretton Woods II, crises in emerging markets, debt management, capital controls, capital flight and liberalization of financial markets.
Bill White is the CEO of Figure Investment Advisors and Portfolio Manager for the World Equity Strategy. During his career, Bill has been a Portfolio Manager for funds managed by FIA’s predecessor firm and the ReFlow Fund. He has been Vice President, Trading at SoFi, held various leadership roles with ReFlow and Forward Management and was Vice President, Trading for Morgan Stanley Online where he headed Equity, Options, and Fixed Income trading at the San Francisco office.
Dr. Evan Smith
Dr. Evan T. Smith is the Senior Director of Research at Figure Investment Advisors, a position he has held since 2015 at FIA's predecessor firm. Dr. Smith earned his Ph.D. in International Economics from the University of California, Santa Cruz with a dissertation examining foreign exchange market anomalies using Bayesian statistical techniques. From 2016 to 2018 he concurrently conducted research at Social Finance, a consumer lender and fintech firm, using machine learning to predict consumer behavior and was its first Principal Analyst. In addition to the Ph.D., Dr. Smith earned his M.A. in International Economics from the University of California, Santa Cruz. He received his B.A. in Economics from the University of California, Santa Barbara.
Figure World Equity 2020 Year in Review
January 28, 2021
What started as an innocuous grouping of pneumonia cases in a Chinese city led to a global pandemic and unprecedented restrictions on economic activity outside of wartime. GDP fell by over 30% at a seasonally adjusted annual rate and financial markets temporarily seized up...
Is a Bubble Brewing?
December 10, 2020
Further stimulus has come to be seen as necessary for a continuing economic recovery, but what if it isn’t? The implications of a service sector-specific shock are consistent with what we have observed: continued recovery in the face of fading fiscal stimulus.
Does the Next Stimulus Matter, Negative Interest Rates and Other Market Thoughts
October 30, 2020
There has been a lot of hand wringing around the next stimulus bill. The market has been trading up and down around the comments of Congresswoman Pelosi and Secretary Mnuchin. But does it really matter?