Experts in derivative market dislocations, building strategies with asymmetric return profiles and low correlation to other asset classes

ADAPT Investment Managers SA (AIM) is a Swiss-based investment manager led by a team of experienced derivatives specialists, each bringing decades of experience in trading, risk management, and operations. ADAPT IM aims to deliver alpha to institutional investors across market cycles, while maintaining low correlation to both traditional asset classes and other alternative strategies.

Operating under an opportunistic mandate, the investment team deploys capital across a broad range of asset classes, strategies, and regions. ADAPT’s core strengths lie in identifying sources of convexity, trade structuring, and robust portfolio construction, enabling the team to capitalize on asymmetric opportunities and deliver differentiated returns.

Insights & Press

  • THE END OF HISTORY ILLUSION

    In January 2025, as markets priced in stability amid extreme crowding and record valuations, our CIO Alexis Maubourguet and CEO Clément Mary-Dauphin explored the widening gap between risk perception and reality.

    Their Turn of the Year Report reflects on how overstretched sentiment and passive-driven positioning masked fragility beneath calm markets.

    Read the full report

  • RISK PREMIA CYCLES

    In July 2024, with markets showing signs of complacency, our CIO Alexis Maubourguet and CEO Clément Mary-Dauphin examined how risk premia have compressed across asset classes—volatility, correlation, and credit spreads all reaching historic lows.

    Their white paper introduces a framework to depict the evolution of risk premia across an investment cycles and flag clusters of complacency.

    Read the full paper

  • CITI DERIVATIVES CONFERENCE 2025

    At Citi’s 2025 Derivatives Conference in Malaga, Côme Legal, Senior Portfolio Manager at ADAPT IM, explored how political shocks are reshaping global markets and volatility.

    From FX to gold, regime shifts are challenging traditional hedges and correlations. Côme highlights why dedollarisation and dislocated vol curves demand a new approach to diversification and risk pricing.

    Read the recap

 

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