Investment Committee

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Adrian Mallia

Adrian Mallia is a Financial Services professional with 20 years’ experience in the sector. He currently holds non-executive directorships in licensed and non-licensed companies and independent investment committee member roles with a number of entities. Adrian held the role of Portfolio Manager with an Asset Management firm and was previously the CEO of an FX online brokerage business.

Prior to this role, he was the Head of Wealth Solutions at Mediterranean Bank plc, where he was directly responsible for the leadership and development of all areas related to Wealth Management, a business area which he headed from inception. He previously occupied various roles with HSBC Bank in the Wealth Management and Asset Management in Malta, and in the Fund Administration and Custody unit both in Luxembourg and in Malta. He also spent a number of years in senior management within the manufacturing sector.

Adrian holds an MSc in Banking and International Finance from City University Business School (CASS) in London and a BCom (Hons) in Banking and Finance from the University of Malta and is an active member of the Institute of Financial Services Committee in Malta and was a part-time lecturer at the Faculty of Economics, Management and Accountancy at the University of Malta.

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Mark Busuttil

Mr. Mark Busuttil is a financial services professional with experience in fund accounting, compliance, valuations and audits of regulated entities. Until June 2019 he served as a director at leading law firm specialising in financial services, after having joined the firm in December 2007. Before joining the firm, Mr. Busuttil worked for one of the leading Audit firms in Malta.

He presently sits on the board of directors of a number of Malta regulated entities and is a member of the Institute of Financial Services Practitioners.

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Sonia Schulenburg

Dr. Sonia Schulenburg is CEO and founder of Level E Capital SICAV p.l.c. where she serves as Director and Member of the Investment Committee and founder & CEO of Level E Research Ltd., an Edinburgh based firm established as a start-up from the University of Edinburgh bridging the gap between investment management and Artificial Intelligence (AI) and focusing at the intersection of machine learning, data science and evolutionary economics.

Sonia holds a PhD in Artificial Intelligence from the University of Edinburgh and a BEng in Computer Engineering (summa cum laude) from Instituto Tecnológico Autónomo de México. She also holds a Professional Certificate in Accounting (with distinction) from the University of California, San Diego and a Postgraduate Degree in Corporate Strategy and Finance (with distinction) from Edinburgh Napier University. She was awarded the Santa Fe Institute Computational Modelling and Complexity Fellowship in 1999 and the Royal Society of Edinburgh Enterprise Fellowship in 2006, and is a former Research Associate of the Centre of Intelligence Systems and their Applications at the School of Informatics, University of Edinburgh.


About the fund

Level E Capital SICAV plc is a collective investment scheme established as a self-managed multi-fund investment company with variable share capital, incorporated with limited liability under the laws of Malta and licensed by the Malta Financial Services Authority (MFSA, Chap. 370) as a Professional Investor Fund (PIF) for qualifying investors.

The Global AI Opportunities Fund, a sub-fund of Level E Capital SICAV plc. managed by the Investment Committee launched on December 3rd 2019

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Board of Directors

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David Butler

Non-Executive Director

David has been the leading advisor to the boutique fund management community in London and elsewhere, and is well known globally for his services to the industry, since 1997. He is also involved with many other financial services firms, or firms servicing that market. In 2013 he retired from Kinetic Partners, which he founded, and which provided risk management, audit, regulatory, tax, forensic, insolvency and consulting services from eight locations globally. He is based in Malta. He has been appointed to the boards of several fund managers and funds.

He holds a Chartered Accountant certification from Chartered Accountants Australia a & NZ (CA ANZ).

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Adrian Mallia

Non-Executive Director

Adrian Mallia is a Financial Services professional with 20 years’ experience in the sector. He currently holds non-executive directorships in licensed and non-licensed companies and independent investment committee member roles with a number of entities. Adrian held the role of Portfolio Manager with an Asset Management firm and was previously the CEO of an FX online brokerage business. Prior to this role, he was the Head of Wealth Solutions at Mediterranean Bank plc, where he was directly responsible for the leadership and development of all areas related to Wealth Management, a business area which he headed from inception. He previously occupied various roles with HSBC Bank in the Wealth Management and Asset Management in Malta, and in the Fund Administration and Custody unit both in Luxembourg and in Malta. He also spent a number of years in senior management within the manufacturing sector.

Adrian holds an MSc in Banking and International Finance from City University Business School (CASS) in London and a BCom (Hons) in Banking and Finance from the University of Malta and is an active member of the Institute of Financial Services Committee in Malta and was a part-time lecturer at the Faculty of Economics, Management and Accountancy at the University of Malta.

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Sonia Schulenburg

Non-Executive Director

Dr. Sonia Schulenburg is CEO and founder of Level E Capital SICAV p.l.c. where she serves as Director and Member of the Investment Committee and founder & CEO of Level E Research Ltd., an Edinburgh based firm established as a start-up from the University of Edinburgh bridging the gap between investment management and Artificial Intelligence (AI) and focusing at the intersection of machine learning, data science and evolutionary economics.

Sonia holds a PhD in Artificial Intelligence from the University of Edinburgh and a BEng in Computer Engineering (summa cum laude) from Instituto Tecnológico Autónomo de México. She also holds a Professional Certificate in Accounting (with distinction) from the University of California, San Diego and a Postgraduate Degree in Corporate Strategy and Finance (with distinction) from Edinburgh Napier University. She was awarded the Santa Fe Institute Computational Modelling and Complexity Fellowship in 1999 and the Royal Society of Edinburgh Enterprise Fellowship in 2006, and is a former Research Associate of the Centre of Intelligence Systems and their Applications at the School of Informatics, University of Edinburgh.


Compliance Officer

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Miguel Cassar

Compliance Officer ("CO")

Miguel is currently approved for the position of Compliance Officer by the Malta Financial Services Authority with six entities, a Payment Service Provider, a Company Service Provider, two Professional Investment Funds, an Alternative Investment Fund and a Category 2 Investment Services Company, of which the latter two also acts as Money Laundering Reporting Officer. Prior appointments include that of Compliance Officer at Standard Advisory Services, a Category 2 Investment Services Company as well at Harbour Pensions Limited which provided pension services to UK expatriates looking for tax efficient pension investments & distribution. He previously occupied other compliance and ancillary roles such as compliance consultancy and corporate services.

Miguel holds a diploma in Compliance and another in Anti-Money Laundering which were done through distance learning with the International Compliance Association in association with the Manchester Business School. Other course qualifications have been attained which were pertinent to the role such as that on pensions, AIFMD & PIFs and MiFID.


Investment Approach

Our investment approach is built on six pillars:

  • Diversified Systematic Approach: Customised return, volatility, beta, asset classes and securities. Strategies target single or double-digit returns over various market environments through a repeatable, scalable and sustainable investment process designed to continuously learn from, adapt to, and exploit changing market conditions.
  • Adaptability: Dynamic exposure management aiming to maximise returns over 3-year rolling periods, higher Sharpe/Sortino ratio and faster recovery rate than major equity indices.
  • Security Selection: Thousands of single equities and ETFs tracking bonds, commodities and/or cryptocurrencies can be selected as part of the portfolio.
  • Large capacity, daily liquidity & transparency: Portfolio holdings and trading frequency ensure ultra-high liquidity, capacity and transparency.
  • Innovative Diversification: Bottom-up systematic alpha discovery approach which results in truly dynamic and well diversified portfolio that compliments more concentrated traditional managers’ portfolios.
  • Risk Controls: Proprietary quantitative tools identify periods of unusual market stress in real-time. Dynamic asset allocation, adjusted in real-time as new market conditions emerge.
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