We are a private investment firm servicing family offices, wealthy individuals and selected institutions. We are experienced in managing wealth in the liquid global capital markets, having started by managing the wealth of our founding family.
We believe that investment decisions should be taken on the basis of clear, persistent, unimpeachable evidence backed by robust academic research. We are passionate about evidence based investing, and about providing investors with the tools to make rational, consistent decisions.
Our people reflect our deeply held beliefs. Sparrows Capital brings together a wealth of knowledge and expertise spanning the academic, technical and practical elements of evidence based investment management.
Yariv has over ten years of experience in strategic investments, risk management and asset allocation. Yariv is the key executive and investment manager at Sparrows Capital. He has worked with the Eliashar family for more than 15 years. Yariv is a sought-after lecturer in wealth management and efficient investment strategies. He holds a BA in Economics and an Executive MBA from Tel-Aviv University.Email
Until March 2012, Steven was managing partner of the London office of international law firm Dechert LLP, where he also served for many years as a board member. He was the senior partner at Titmuss Sainer before its merger in 2000. In addition, from 2008 to 2010, he was on the advisory board of surveyors CWM.
Today, he is Chair of Uropharma, a medical device company, is a non-executive member of the board of international solicitors, King & Wood Mallesons, formerly SJ Berwin LLP, and is an adviser to the Landon Family Trusts.
As well as being on the University of London’s Board of Trustees, Steven has also worked with a number of not-for-profit organisations, including the international wheelchair charity Motivation, and the Freud Museum.Email
Professor Elroy Dimson
Consultant to the Board
Consultant to the Board
Elroy chairs the Strategy Council for the Norwegian Government Pension Fund and the Policy Committee for the FTSE Group. He co-directs the Centre for Endowment Asset Management at Cambridge Judge Business School and is Emeritus Professor of Finance at London Business School. His publications include Triumph of the Optimists, Endowment Asset Management, and the Global Investment Returns Yearbook. He has been an Associate Editor of Journal of Finance, Review of Finance and other journals.
A co-designer of the FTSE 100 index, Elroy chairs FTSE’s advisory board and serves on the Council of Financial Analysts Journal. He is on the investment committees of Guy’s & St Thomas’ Charity and the Foundation for Social Entrepreneurs. He is past President of the European Finance Association, and Honorary Fellow of the CFA Society of the UK (FSIP) and of the Institute of Actuaries. He has received the CFA Institute’s James Vertin award, the Moskowitz prize, and the Bernstein Fabozzi/Jacobs Levy award. He holds a PhD from London Business School, an MCom from the University of Birmingham, and a BA Economics from the University of Newcastle.Email
Dr. Raymond Backreedy
With over a decade of professional experience within the financial marketplace, Raymond combines PhD level mathematical, statistical and engineering skills with honed logic and reasoning. His experience includes hands-on research, development and management of quantitative models and portfolios in both the traditional passive and alternative asset classes. He was a founding partner at Evolutionary Trading and Tekio Capital.
Most recently Raymond acted as consultant to the executive committee and board of trustees of a large Dutch pension fund, where he was involved in quantifying the impact of regulatory changes on their investment processes.
Raymond has a PhD and MEng from the University of Leeds in Fuel and Energy Engineering.Email
Mark is a seasoned practitioner in financial markets with wide ranging managerial and governance experience across credit, fixed income, equity and treasury markets. His knowledge spans multiple disciplines including marketing, trading, investment and the management of complex financial and regulatory risk. He has previously worked for LBBW, Rabobank and Standard Chartered Bank.Email
William started his career as an accountant before moving to WH Ireland as an Assistant Investment Manager where he spent 4 years. He joined Close Brothers in January 2010 as a Private Client Adviser before helping to set up the Client Relationship and Business Development teams which he managed until his departure to Sparrows Capital.
William is a Member of the Chartered Institute of Securities and Investment and in 2014 was named in the PAM Top 40 under 40.Email
After graduating from the University of Nottingham with a BEng, Marianne began her career as an analytics operative at Richard Davies Investor Relations Limited.
She joined Sparrows Capital in 2017, and is currently studying to gain her IMC qualification.Email
Emma graduated from the University of Liverpool with an honours degree in Biological Sciences.
She joined Sparrows Capital in 2017 after working for Crown Agents Investment Management and CommEq Asset Management.
We believe that investment decisions should be firmly based on empirical evidence backed by robust academic studies. Our disciplined, objective approach combines lessons from over a hundred years of market data with the insights from Nobel prize winning research, and aims to isolate and distil clear, persistent solutions for investors.
Risk is the primary driver of returns. Risk appetite dictates portfolio construction, which in turn drives expected investment returns. Targets and benchmarks must be consistent with a bespoke risk profile. Certain risks are historically better rewarded than others. Careful blending of risks can significantly improve portfolio performance across the cycle.
We harvest strategic beta (the market return) in a highly cost efficient manner across the core liquid portion of our clients’ portfolios, leaving them free to identify and select complementary satellite investments.
The compound effect of management and transaction fees has the capacity to substantially erode portfolio performance over time. We use low cost, rules-based investment vehicles for maximum efficiency.
Loss aversion is a natural human behaviour; one which is often responsible for underperformance through mistimed intervention and consequent lost opportunity. Our approach uses systematic rebalancing to maintain consistency of risk throughout the cycle.
At Sparrows Capital we provide full transparency to ensure consistency of understanding and to reduce client workload and stress. Our clients’ assets are held on their chosen platforms under their direct ownership. Reporting is clear, simple and intuitive.
Diversification acts to reduce overall portfolio risk without sacrificing long term expected return. We build in multi-layered diversification at asset class, geographic and underlying security level.
We invest primarily via ETFs and Index Funds. All our holdings benefit from full daily liquidity to ensure that access is unrestricted and that clients can retrieve their money at any time.
Our vision is to close the information gap, and to empower investors with the tools to make decisions on the basis of facts and empirical evidence. We look to filter out the noise, and to make the process as simple, transparent, rational and cost efficient as possible. In doing so, we aim to alleviate our clients’ short term concerns and anxieties over the performance of their portfolios.
To the extent that material on this Site is issued in the United Kingdom (“UK”), it is issued for the purposes of the UK Financial Services and Markets Act 2000 by Sparrows Capital Limited (“Sparrows”) which is authorised and regulated in the UK by the Financial Conduct Authority.
Use of Information and Material. The information contained on this site (including any expression of opinion or forecast) has been obtained from, or is based on, sources believed by Sparrows and its associated companies to be reliable, but is not guaranteed as to its accuracy or completeness. This Site and the information herein is for general information purposes only. In addition, the information and materials contained in this Site and the terms and conditions of the access to and use of such information and materials are subject to change without notice. Not all advisory or management services are available in all geographic areas. Your eligibility for particular products and advisory or management services is subject to local law and regulation.
Risk Factors. Past performance is no indication of future performance, and nothing on this Site should be interpreted to state or imply otherwise. The value of investments may fall as well as rise and investors may not get back the full amount invested. Changes in rates of foreign exchange may cause the value of investments to go up or down. The levels and bases of and reliefs from taxation may change. Investors should consult their own tax adviser in order to understand any applicable tax consequences.
No Advice, Offers or Solicitations. The information and materials in this Site should not be construed as to provide tax, legal or investment advice. In addition, the information and materials herein shall not constitute an offer or solicitation, or an offer to sell, shares of any funds or any advisory or management service in any jurisdiction. The type of securities mentioned may not be suitable for everyone. USERS ARE URGED TO BASE THEIR INVESTMENT DECISIONS UPON A THOROUGH INVESTIGATION AND TO OBTAIN ALL NECESSARY PROFESSIONAL ADVICE.
Material Interests. Sparrows, its associated companies and its and their members and/or directors, officers and/or employees may have holdings in the investment funds referred to on this site and may otherwise be interested in transactions that you effect in those funds.
Data Protection. Sparrows is registered with the Information Commissioner’s Office as a data controller under the Data Protection Act 1998. We may hold and process personal information for purposes of staff administration, advertising, marketing & public relations, accounts & records and provision of investment management and advice. We may transfer data outside the European Economic Area (EEA) where it may not be as securely protected as in the EEA.
United Kingdom’s Stewardship Code. The Stewardship Code (the “Code”) was developed from the Walker Review on Corporate Governance in the UK and aims to enhance the quality of engagement between investors (and investment managers) and UK listed companies. Although the Code is voluntary, the Financial Conduct Authority requires Sparrows to include on this website a disclosure about its commitment to the Code or, where it does not so commit, its alternative strategy.
Sparrows is an independently owned investment firm which provides management services to substantial professional clients across the world. As stated elsewhere on this site, our overriding objective is to protect and increase the real wealth of our clients by investing using liquid and diversified ETF and Tracker funds, in order to capture market returns across all asset classes, irrespective of geographic location.
Consistent with that objective and aim, our principal strategy is to invest in funds which are managed by other investment managers (who may have committed to the Code).
Consequently we may, consistent with the level of risk, decide to exit an investment where we disagree with the manager’s strategy and reinvest elsewhere rather than committing to spend a long period trying to change the manager’s strategy.
Therefore, while we support the general objectives behind the Code, we do not consider that it is appropriate for us to commit to the Code.
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We do update this Policy from time to time so please do review this Policy regularly.
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