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Multi-Asset · Multi-Strategy · Regime-Aware

Thuraya Capital

Clarity Through Complexity

A multi-asset investment firm that combines systematic frameworks with discretionary judgment to allocate capital across market regimes — with discipline, clarity, and conviction.

Our Strategy Fee Structure
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The Firm

When others
lose direction

The name Thuraya comes from الثريا, the Pleiades, a star cluster Arab navigators used to orient themselves across deserts and seas for centuries. Long before instruments, the Pleiades told sailors where they were and where they needed to go.

Markets are not random. They move in regimes: trending, volatile, dislocated, compressing. Most capital gets lost in the transitions. We don't.

We read the regime, position within its structure, and move with the shift when it comes. Our mark is a compass: a ring open to the east, a fixed needle, a single north star.

"We don't predict markets. We orient within them."
N
Investment Philosophy

Five beliefs that govern
every allocation decision

01
Markets move in regimes
Not straight lines. We classify the regime before allocating: trending, volatile, dislocated, or compressing.
02
Dislocations create asymmetry
We wait for structure to break, then act. Dislocation-based entries are our primary alpha source.
03
Structure + discretion
Neither pure quant nor pure intuition. Both, in combination, produce more consistent results than either alone.
04
Risk is alpha preservation
Drawdown control is not a constraint on returns. It is part of the return. We manage risk as actively as we deploy capital.
05
Compounding is the engine
The tactical sleeve supports the core, never replaces it. Long-term compounding is never fully suspended.
Strategy Structure

Four-sleeve architecture

50–60%
Core
Compounding engine
  • Global equities: US, Europe, Japan
  • SPY-style accumulation
  • Valuation-aware entry scaling
  • Low turnover, quarterly rebalance
  • Never fully liquidated
25–35%
Tactical
Dislocation capture
  • S&P 500, DAX, SMI, Nikkei
  • Commodities: Gold, Oil, Agriculture
  • Horizon: 1 day to 8 weeks
  • Statistical + event-driven entries
  • Time and structure-based exits
Overlay
Systematic
Risk & signal framework
  • Regime classification engine
  • Z-score and streak analysis
  • Dynamic exposure sizing
  • Hard drawdown thresholds
  • Cross-asset correlation monitor
~12%
Regional
MENA allocation
  • UAE: ADX / DFM listed names
  • Saudi Arabia: Tadawul
  • Valuation and structural approach
  • Not momentum-driven
  • Semi-annual rebalancing
Our Process
01
Identify Regime
Classify the market environment across trend, volatility, and macro dimensions before any capital is deployed.
02
Scan Dislocations
Price vs structure divergence, Z-score extremes, event-driven setups. We wait for structure before acting.
03
Deploy Tactically
Scaled entries. Position size pre-calculated before entry. Never adjusted upward after the fact.
04
Adjust Dynamically
Regime signal continuously informs size adjustment. Exposure reduces in high-uncertainty environments.
05
Compound Always
The core sleeve is never suspended. Tactical is additive to the long-term compounding engine.
Fee Structure

We earn when
you earn

0%
Management Fee
6%
Annual Hurdle Rate
25%
Performance Fee (above hurdle)
No management fee, ever
Thuraya Capital charges nothing to manage your capital. No annual percentage regardless of performance. Every dirham of fee is tied to a return actually delivered.
6% hurdle, cumulative and carried forward
The first 6% of returns belongs entirely to the investor. If a year falls short, the shortfall accumulates and must be recovered in full before any performance fee is earned.
25% above the hurdle
Only profits in excess of 6% are subject to the fee, and only when the fund is above its highest-ever NAV. Losses must be fully recovered before fees resume. No annual reset.
Illustrative, on $1,000,000
Return 4%: TC fee $0 · Investor keeps $40,000
Return 10%: TC fee $10,000 · Investor keeps $90,000
Return 20%: TC fee $35,000 · Investor keeps $165,000
Thuraya Capital
0% management fee
6% annual hurdle, carried forward
25% above the hurdle only
Perpetual high water mark
We earn when you earn
Industry standard "2 and 20"
2% management fee regardless of performance
No hurdle rate
20% of all profits
Resets annually
Paid even when returns are flat

The compass holds its bearing regardless of conditions. So does our fee structure.

The Mark

A compass.
Not a symbol. A system.

C
The Ring
Open to the east. The framework — incomplete by design, always open to what is coming. Rising sun. Direction of origin in Arab culture.
T
The Needle
The one element that does not move in a shifting field. Fixed conviction. Structural discipline. The vertical axis of the compass.
•
Alcyone
The brightest star in the Pleiades. The north point. The unwavering reference point from which all navigation begins.
→
The Gap
The opening in the C faces east — toward what is coming, not what has passed. The firm is always oriented forward.

"When markets lose direction, we know where north is."

Thuraya Capital

Guiding capital through complexity with clarity, discipline, and conviction.

LocationDubai, United Arab Emirates
MarketsGlobal · MENA
Enquiriescontact@thurayacapital.ae
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