Fulcrum Asset Management Llp
- Regulatory AUM
- $69.1B
- Discretionary
- $69.1B
- Clients
- 26
- Avg AUM / client
- $2.7B
- Accounts
- 26
- Employees
- 101
AUM over time
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Investment companies | 1 | $4.7B | 6.76% |
| Pooled investment vehicles (non-investment companies) | 20 | $48.4B | 70.1% |
| Other investment advisers | 5 | $16.0B | 23.1% |
Private funds (4)
Reported in Form ADV Section 7.B.(1), filing of Aug 2024 · $916M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Fulcrum Funds Spc Fulcrum Discretionary Macro Master Fund Sp master | Hedge Fund | Cayman Islands | $319M | 5 |
| Fulcrum Funds Spc Ii Fulcrum Sh Macro Fund Sp | Hedge Fund | Cayman Islands | $259M | 2 |
| Fulcrum Funds Ii Spc Fulcrum Horizon Fund Sp | Hedge Fund | Cayman Islands | $180M | 2 |
| Fulcrum Funds Spc Fulcrum Energy Infrastructure Renewables Fund Sp | Hedge Fund | Cayman Islands | $158M | 2 |
People (15)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Stevens, Andrew, David | Founder Partner | Dec 2003 (23y) | ≈ 0% – 3.75% via Fulcrum Asset Management Ltd, Cayman | |
| Davies, Gavyn | Founder Partner And Executive Chairman | Jul 2004 (22y) | ≈ 0% – 3.75% via Fulcrum Asset Management Ltd, Cayman | |
| Shaikh, Suhail | Parnter & Chief Investment Officer | Nov 2006 (20y) | 5% – 10% | |
| Davidson, Joseph | Managing Partner & Coo | Jan 2010 (17y) | Less than 5% | |
| Bevan, Andrew, Maurice | Partner | Feb 2013 (14y) | Less than 5% | |
| Roberts, Matthew | Partner | Jan 2018 (9y) | Less than 5% | |
| Chmielowski, Piotr | Partner | Jun 2018 (8y) | Less than 5% | |
| Westmacott, Jago, Ruscombe | Partner | Jun 2018 (8y) | Less than 5% | |
| Chaudhry, Fawaz, Altaf | Partner | Apr 2021 (5y) | Less than 5% | |
| Crewe, Steven, John | Partner | Apr 2021 (5y) | Less than 5% | |
| Wright, Matthew | Partner | Apr 2021 (5y) | Less than 5% | |
| Diaz, Juan, Jose Antolin | Partner & Head Of Research | Apr 2022 (4y) | Less than 5% | |
| Philip, Strother,, David | Partner & Head Of Portfolio Engineering | Apr 2022 (4y) | Less than 5% | |
| Pickering, Emma | Parnter And Head Of Investor Relations | Apr 2022 (4y) | Less than 5% | |
| Forde, Patrick, James | Partner & Head Of Trading | Apr 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Fam Services Ltd | Corporate Member | Dec 2003 | A | Less than 5% |
| Fulcrum Asset Management Ltd, Cayman | Shareholder | Dec 2003 | B | ≈ 0% – 5% via Fam Services Ltd |
Undisclosed: 0% – 45% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Stevens, Andrew, David: 50% – 75% of Fulcrum Asset Management Ltd, Cayman × 75% – 100% of Fam Services Ltd × 0% – 5% direct ≈ 0% – 3.75% of the firm
- Davies, Gavyn: 50% – 75% of Fulcrum Asset Management Ltd, Cayman × 75% – 100% of Fam Services Ltd × 0% – 5% direct ≈ 0% – 3.75% of the firm
- Fulcrum Asset Management Ltd, Cayman: 75% – 100% of Fam Services Ltd × 0% – 5% direct ≈ 0% – 5% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (4, $916M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Fulcrum Funds Spc Fulcrum Discretionary Macro Master Fund Sp | Hedge Fund | $319M | $5.0M | 5 |
| Fulcrum Funds Spc Ii Fulcrum Sh Macro Fund Sp | Hedge Fund | $259M | $500K | 2 |
| Fulcrum Funds Ii Spc Fulcrum Horizon Fund Sp | Hedge Fund | $180M | $500K | 2 |
| Fulcrum Funds Spc Fulcrum Energy Infrastructure Renewables Fund Sp | Hedge Fund | $158M | $500K | 2 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 2.62 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Northern Trust $469M (1% of AUM) Aug 2024
- State Street $243M (0% of AUM) Mar 2026
- Brown Brothers Harriman Investment Services (Japan) Inc. $81.1M (0% of AUM) Aug 2024
- J.P. Morgan $57.2M (0% of AUM) Aug 2024
- Citibank $8.1M (0% of AUM) Aug 2024
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗