Fiat Elpis overview
Saad walks through the fund's genesis, capital preservation rules, and how discretionary calls are filtered before capital deployment.
Multi-asset signal fund • Established 2020
Worst historical drawdown duration of 2 months
A Sortino ratio significantly above the Sharpe ratio signals strong downside protection; scores above 3 are considered exceptional.
Gain-to-Pain above 3 indicates gains meaningfully outweigh losses, highlighting the strategy's resilience.
Fiat Elpis is a modern global macro fund that relies on the predictive talents and superior analytical skills of its managers, along with the broad expertise of our community of investors. We believe that by leveraging advanced analysis and a deep understanding of market dynamics, we can identify profitable opportunities before the market fully adjusts.
We identify situations where market pricing deviates from fundamental valuations over periods ranging from seconds to weeks. Our approach is rooted in understanding the reaction functions and positioning of various market participants.
Unlike traditional macro hedge funds, which typically focus on medium-term fundamentals, we deploy diversified strategies quickly across various asset classes and instruments, enabling us to adapt to all types of market regimes.
We offer a transparent investment proposition: your funds remain in your own brokerage account while our trades are automatically replicated proportionally to your account size.
This has multiple advantages over a traditional hedge fund structure:
Most of our net worth is invested alongside yours. We trade multiple ideas every business day of the year across asset classes and time zones—macro trading is not a part-time job.
We do not collect any management fee; the Fiat Elpis team only makes money when you make money.
Cumulative growth of a EUR 100K managed account versus Euro Stoxx 50, MSCI Asia, S&P 500 ETFs, and Bitcoin, net of fees.
Data through October 2025 (October 2025 provisional). Source: Fiat Elpis trade blotter and broker statements. Returns are net of performance fees and transaction costs.
Catch long-form discussions covering the Fiat Elpis philosophy and track record.
Saad walks through the fund's genesis, capital preservation rules, and how discretionary calls are filtered before capital deployment.
A detailed conversation on portfolio construction, automation stack, and the governance that lets investors monitor every trade in real time.
Investors and industry operators share their Fiat Elpis experience.
“I recommend Saad to anyone looking for a reliable and committed fund manager. Saad is transparent and obviously knows what he is doing. Phenomenal risk-adjusted returns!”View on LinkedIn
Testimonials reflect individual experiences. Results are not guaranteed and may vary for each investor.