Low Correlation + High Return

From a Trusted Team

Perpetua Fund

Fund Goals

Modern Portfolio theory is just that for most investors, a theory. It requires (1) owning multiple asset classes with low correlation to each other and (2) high expected returns.

That’s very hard for normal investors to do. Accessible asset classes with high returns, like domestic and international index funds, REITs, most single stocks, etc., are highly correlated. Accessible asset classes with low correlation, like bonds and money market funds, offer low returns.

The Perpetua Fund seeks to offer Accredited Investors both: high returns with low correlation to the S&P 500.

We help investors move from a Modern Portfolio Theory to a Modern Portfolio.

Meet the Team

Producing great returns for investors is a distant second place to acting with integrity and according to our values. This shows up in every decision we make, from a $10 business expense to a $10 million dollar trade. We’ve gone well beyond regulatory standards by hiring third-party fund administrators and third-party auditors with checks and balances. Material portions of our own net-worth is invested in the fund.

  • Chief Investment Officer and General Counsel

    Joel Hibbard is an applied mathematician with a distinguished academic and professional background. He received an MS and BS in mathematics, graduating with distinction and cum laude honors. His independent research in advanced probability and statistics attracted the attention of SAIC (now Leidos), a leading defense contractor, which recognized him with the SAIC Creative Problem-Solving Award.

    After graduate school, Mr. Hibbard joined SAIC's Ocean Science Division, where he applied his mathematical training to anti-submarine warfare, developing predictive models to assist the U.S. Navy in strategic operations. His contributions highlighted his ability to translate complex mathematical theories into practical applications and to develop new mathematical theories to describe novel real-world systems.

    In law school, Mr. Hibbard's study of corporate finance and related areas of law introduced him to financial markets, new areas in which to apply his predictive modeling skills. The algorithms powering Perpetua Fund stem directly from Hibbard’s unique blend of expertise in applied mathematics, strategic modeling, and financial law.

    Mr. Hibbard practiced at Latham & Watkins LLP as a banking and finance associate attorney, and in various technology and finance company in-house positions.


  • Chief Executive Officer

    John Scrofano is a repeat technology entrepreneur and operator, spanning early-stage companies to being a VP of New Products for a $4 bln company that went public. He’s led large teams across disciplines like product, engineering, marketing, data science, design, and strategy. He’s spent the last 8 years in financial technology, becoming an expert in the technology infrastructure, regulation, risk, and institutions that underpin global money movement.  

     

    Mr. Scrofano graduated Magna Cum Laude from a top-10 finance program and his university’s honor college. Since school he’s studied leadership, question asking, economics, systems engineering, and mathematical models behind large language models and generative artificial intelligence.  

    Mr. Scrofano loves building high-performing teams and resilient systems that create large customer and enterprise value.   

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