The FIRST TURN MANAGEMENT is a privately held investment adviser that advises $577.08mn in regulatory assets under management held in 1 SEC fund types across 2 investment strategies. FIRST TURN MANAGEMENT is a SMA An SMA manager is a manager whose >=75% of total assets under management are in separately managed accounts, which are discretionary client-specific accounts rather than pooled vehicles. Manager. Assets decreased by 6.75% over the last 2-years.
The Group has been registered with the SEC for 2.43 years and is comprised of 1 filing and 0 relying advisers. They operate out of 2 office locations with their Headquarters at 674 VIA DE LA VALLE SUITE 308, SOLANA BEACH, CA. The Group has not been subject to regulatory enforcement actions. They are regulated by 1 US and Non-US bodies.
They have 3 employees comprised of 3 investment and 0 non-investment staff. The total number of Employees increased by 50% over the last 2-years.
Their $577.08mn in assets advised are owned by 2 private funds, 0 public funds and BDCs and 2 other accounts. Assets of Sovereign Wealth Funds and Foreign Official Institutions clients own $491.2mn or 85.12% of Total Assets and Pooled Investment Vehicles (Not IC or BDC) own $66.29mn or 11.49% of Total Assets.
The Group's top investment strategies include Multi Strat and Long/Short Equity, representing 95.47% and 4.53% of total assets, respectively.
They advise 3 types of clients, top clients are Sovereign Wealth Funds and Foreign Official Institutions and Pooled Investment Vehicles (Not IC or BDC).
The Group uses 1 Fund Administrators, 1 Fund Auditors, 1 Prime Brokers, 1 Custodians and 1 Marketers. It does not report a third-party Fund Administrator in 0 private funds with $0 in assets.
The Group discloses management fees and performance-based fees.
FIRST TURN MANAGEMENT names 0 sub-advisers to 0 different funds advised by the group. The Group has been named as the sub-adviser to 0 funds.
They have a MEDIUM risk business model that requires a high degree of process maturity to manage operational risk. A Manager Group has a "High Complexity" when 25% or more of 63 business conditions measured require a high level of process maturity to manage the risk. The "Watch" suffix indicates that one or more of the following business conditions carry a high-complexity score: 1) % Fund Assets Valued Internally, 2) prior Regulatory Violations, 3) Unqualified Audits, 4) Multi-Functional C-Suite and 5) Business Concentration Risk with an Auditor or Administrator.
In FIRST TURN MANAGEMENT's case, they have 7 business conditions that require high process maturity and 0 Watch Factors.