Separately Managed Accounts
For allocators who need a mandate rather than a public vault: foundations, treasuries, funds of funds, family offices.
Contact: contact@etesiar.com.
Why not the public vault
Etesia Multistrat is permissionless. Anyone can deposit. That carries consequences an institutional allocator usually cannot accept:
- No mandate. You get the strategy as run for everyone, with no ability to restrict the universe, cap leverage, exclude a venue or set your own volatility target.
- No segregation. Your capital is commingled with every other depositor's.
- No side letter, no reporting agreement, no MFN. Terms are whatever the contract says on the day.
- Fees are the contract's: 1% management and 20% performance, as published on Fees + Redemption Period.
- Onboarding is a wallet. There is no counterparty relationship and no KYB.
What is negotiated
| Trading universe | Which sectors and instruments are in scope, and which are excluded |
| Volatility target | The public program runs near 25% annualised. An SMA sets its own. |
| Leverage | Available under a defined mandate. Not applied to the public vault. |
| Fees | Negotiated on size and complexity. Not the schedule on Fees. |
| Reporting | Format, frequency and content |
| Custody | Connection via an exchange account or an institutional custodian you already use |
We can connect through OKX, Binance, Hyperliquid, or institutional custody providers such as Copper and Hidden Road. Confirm the current list when we talk.
What we can show you today
The mechanical description of the strategy in this documentation. Onchain verifiability of the live vault, down to its fee rates and custody configuration. The vault framework's audits by Nethermind Security and Trail of Bits. A live track record from 27 May 2026, and a simulated one before it, with every figure carrying its window.
Some of what a full due diligence process asks for does not exist yet, and we would rather say so here than in week three of a process:
| Item | Status |
|---|---|
| Administrator-verified or audited performance | None. Figures are our own. |
| Third-party audit of our own curator and executor code | None |
| Fund administrator, auditor, independent valuation agent | None appointed |
| Regulatory status | Etesia Research Inc. is not a regulated asset manager |
We are early. Ask for dates rather than assuming, in either direction.
Questions worth putting in the first email
- What is the legal entity, where is it domiciled, and what is its regulatory status in your jurisdiction and ours?
- Who are the principals, what did they run before, and how much of their own capital is in the strategy?
- What is current AUM, and what is the stated capacity of the program?
- What is the custody configuration of the account you would run for us, who holds each key, and where?
- Is the 1% management fee the long-term schedule, and if it changes, what happens to fees already accrued?
- Which Sharpe figure is the reference one, and may we see the underlying return series rather than summary statistics?
- Who else has allocated, and may we speak to them?
- What does a monthly report contain, and may we see a sample?
Process
There is no published onboarding flow, no minimum and no standard timeline. Write to contact@etesiar.com and expect a conversation rather than a data room. A mutual NDA is available.