Question 1

How does Fincanva handle it?

Accepted Answer

Combined allocation offers the methods the allocation method table marks for a Combined — among them Equal weights, Fixed weights, Ranking-based, Inverse volatility, Risk parity, MPT (Markowitz) and the risk-focused methods such as Min CVaR. Methods that exist only inside a single strategy, such as Market cap or Hierarchical risk parity, are not offered at the Combined level. With Fixed weights you type a weight per member in the table of the Sub-strategies card, and the Allocation card shows them read-only under "Sub-strategy weights"; the raw weights need not add up to 100, because they are normalized. Invested portion sets the share of capital the Combined deploys; whatever is not deployed stays as cash. Combined risk switches the whole Combined to its Risk-Off allocation when its conditions are met — it does not pause or stop the Combined. See risk conditions. The Combined level has no instruments and no position exits of its own; those exist only inside member strategies.

Question 2

What settings live at the Combined level?

Accepted Answer

Four groups live at the Combined level, and only these four: Sub-strategies (which sub-strategies are members, and their weights), Combined rebalance (how often the capital split is reset — see rebalance), Combined allocation ("How capital is split across sub-strategies"), and Combined risk ("De-risk the whole Combined when markets turn"). Everything else — the instruments, the per-instrument weighting, the position exits — belongs to each member strategy, not to the Combined.

Question 3

How do the Combined level and the strategy level differ?

Accepted Answer

They are two independent layers, applied one after the other: the Combined level splits capital across member strategies, and each member's own allocation then weights instruments inside its share. Fincanva applies both and never collapses them into one. So changing a member's own allocation does not change how much capital that member receives, and changing the Combined allocation does not change what any member holds.

Question 4

What does it look like in practice?

Accepted Answer

A Combined holds three member strategies and starts from 30,000. Its Combined allocation is Equal weights, so the Combined level hands each member an equal third — 10,000 each. What happens to each 10,000 is decided one level down: the first member weights its five stocks equally at 2,000 apiece, the second uses Inverse volatility across its holdings, and the third holds a single ETP for its whole 10,000. Switch the Combined allocation to Risk parity and the three shares stop being equal, but each member's internal weighting is untouched — the two levels moved independently.