For banks · own-account & treasury

Capital-efficient equity exposure.

Own-account equity exposure usually dies in one of two rooms: the one that computes the capital charge, and the one that imagines the next crisis. The QI Global Guarded Equity was engineered to walk into both.

UCITS · daily NAV · EUR Full look-through — positions, not promises Hedged tail — puts, held per index
I.What matters to you

i.Risk capital

Direct equity holdings are expensive capital. The fund builds its exposure synthetically: index futures over a base portfolio of high-grade, short-duration public-issuer bonds, hedged with index puts. For the own account that construction is the point — designed for capital efficiency under CRR. The position-level look-through your fund treatment requires is provided as a matter of course; the assessment is the institution’s.

ii.Tail behaviour

The annual base guard uses puts struck around 90% per index, refreshed with quarterly signal-driven puts. The mechanism is a systematic approach to reduce loss risk — it is not a guarantee.

iii.Reporting standard

Daily NAV publication, full holdings transparency, monthly reporting with risk metrics, and direct access to the people who built the models when your risk controlling has questions. Reporting is a product feature here, not an afterthought.

II.What we deliver
Look-throughPosition-level holdings for your CRR fund treatment. Machine-readable, at the cadence your processes need.
Collateral bookHigh-grade, short-duration public issuers, fully visible via look-through.
Fee hygieneNo performance fee. Institutional class P from EUR 1m with an advisory fee of ≤ 0.90% p.a.
DialogueModel documentation and a technical walkthrough with the founders for your risk controlling.
Founding-investor window — subscriptions until 25 September 2026Class P · LU3255406137 · early investors keep partner-class terms.
Fund details

Your risk controller is welcome from the very first conversation.

Request fund information Your enquiry reaches the founders directly

Photograph: Frankfurt am Main by Marco Nürnberger, CC BY 2.0, via Wikimedia Commons. Marketing communication for professional investors. No offer or investment, legal, regulatory or tax advice; the regulatory and capital treatment of an investment depends on the individual institution and its supervisory framework and must be assessed by the investor. Subscriptions only on the basis of the prospectus, PRIIPs KID and latest report of 1st IQ SICAV — QI Global Guarded Equity, registered for distribution in Luxembourg, Germany and Austria. The Guard mechanism reduces risk but is no guarantee against losses; capital loss is possible.

Investment advice according to section 2 para. 2 no. 4 German Wertpapierinstitutsgesetz (WpIG) and investment brokerage according to section 2 para. 2 no. 3 WpIG shall be made on behalf of, in the name of, for the account and under the liability of the responsible legal entity BN & Partners Capital AG, Steinstraße 33, 50374 Erftstadt, according to section 3 para. 2 WpIG. BN & Partners Capital AG has a corresponding license from the German Federal Financial Supervisory Authority (BaFin) in accordance with section 15 WpIG for the prenamed financial services.