Marinya typically has 10 to 15 public and private long equity positions that make up the majority of our assets; we have a small portfolio of managers to provide diversification and deal flow; and we hold the balance in cash to support our hedging activities and provide flexibility.
Marinya is very macro aware. We manage our equity beta within a range of 0.2 to 0.7 and we move our beta within this range actively as our views on risk change. We also actively manage our currency portfolio for diversification and alpha purposes and from time to time we hedge rates and other macro risks.
