About
High Delta Fund is run by two practising systematic traders, both managing live, independently verified portfolios via Darwinex Zero, both ranked DarwinIA Gold. The Fund is the structured vehicle for their existing process — extended across additional asset classes and made accessible to sophisticated allocators.
Why we exist
Most boutique alternative funds are launched by people who have never run live money. They start with a theory, raise capital, and learn the difference between backtest and reality on the investor's dime. We started the other way around.
Both principals have spent years running independently verified systematic books on Darwinex Zero — collectively managing approximately €6.0 million across systematic strategies in foreign exchange, metals, equity indices, and fixed income. Every model, every risk rule, and every infrastructure decision in the Fund started as something we needed for our own books.
The Fund is the next step. A structured Actively Managed Certificate that combines the same systematic core with managed exposure to additional asset classes, packaged for allocators who want institutional-quality systematic exposure without building the infrastructure themselves.
The principals
Both principals have skin in the game. Both publish their methodology openly through High Delta Research on Substack. Both have been running live, audited portfolios long enough to be respected by the allocators they speak with — quietly, and on their own terms.
Kieran
Co-Founder · Systematic FX & Metals
A practising systematic trader running DARWIN XAQP on Darwinex Zero since April 2025, ranked DarwinIA Gold. Manages a multi-strategy live portfolio across FX, metals, and equity indices, plus an additional book held off-Darwinex. Writes the High Delta Research publication.
Blayn
Co-Founder · Multi-Strategy Systematic
A practising systematic trader running DARWIN IME on Darwinex Zero since February 2024, ranked DarwinIA Gold. Manages the longer-running of the two books, with a multi-year live track record across systematic strategies in FX, metals, indices, and fixed income.
The track records
The performance below is from both principals' live, audited Darwinex accounts. These are not backtests, not hypotheticals, and not smoothed. Both portfolios have run through real market conditions — including the April 2025 tariff shock, multiple volatile FX regimes, and sustained equity drawdowns — with real execution, real slippage, and real correlation effects.
+ €1.46M & $62K managed off-Darwinex (institutional)
Stats updated monthly from Darwinex (last sync: 09 April 2026). The Fund itself has not yet launched; the figures above relate to the principals' personal live portfolios on Darwinex, which form the systematic core of the Fund's intended strategy. Past performance is not indicative of future results. See our Disclaimer for full disclosures.
How we work
Four principles that govern how the Fund is managed and how we communicate with allocators. They're not slogans. They're operational rules.
Every allocation decision, like every trading decision, has to survive scrutiny. If it can't be tested, it should be questioned.
Both principals trade their own capital alongside the Fund. Our interests are aligned — we succeed when our investors succeed, and we feel the drawdowns first.
No discretionary overrides. No gut feelings. Every strategy follows a defined, tested process from signal generation to position sizing, with retirement criteria written before deployment.
We publish our track records openly, in real time, via Darwinex. We talk about what goes wrong as well as what goes right. Trust is built incrementally, and we'd rather be quiet and consistent than loud and impressive.