Risk Management

Core Constraint

Mana operates strictly intraday. Positions are opened and closed within the same trading session, eliminating overnight gap exposure by design.

This constraint is structural and not subject to discretionary override.

Risk Controls

• Dynamic position sizing governed by predefined risk limits
• Exposure caps and concentration constraints
• Continuous drawdown monitoring
• Risk reduction protocols during adverse conditions
• No discretionary overrides during execution

Operational Safeguards

Risk management extends beyond market exposure. Operational integrity controls are designed to identify conditions under which normal execution assumptions may no longer hold.

• Market data integrity monitoring
• Execution quality surveillance
• Automatic suspension under predefined conditions
• Structured post-event review procedures

Protective mechanisms are intended to reduce operational vulnerabilities rather than eliminate risk entirely.

Risk Governance

Strategy characteristics are monitored under predefined stability thresholds. Performance dispersion, drawdown behavior and execution quality are reviewed on a structured basis.

Architectural changes, when required, follow controlled validation procedures to preserve framework integrity and avoid reactive adjustments.

Objective

The objective is to preserve coherent strategy behavior across changing market environments under controlled risk constraints, rather than optimize short-term outcomes.

Risk management is therefore considered a primary objective of the framework, rather than a secondary consequence of portfolio construction.