Daniel Tan, its founder, says the agents do the work while the humans keep the judgement, the risk limits and the final say on what goes live.

Varsity Tech’s multi-agent system handles the tasks a traditional quant fund hands to a whole team: cleaning and analysing data, quant research, statistics, writing the code and backtesting. The original ideas, and the market insight behind them, come from people.

“The agents build on each idea, draw parallels across markets, write the code and test it,” Tan said. “What stays human is judgement. We set the guardrails and the validation layers that decide whether a result holds up or is just overfit, and we make the final decision on what goes live.”

Risk is managed in layers so that no single failure can do serious damage. Every strategy has position sizing, a stop loss and a fixed number of attempts built in. Stop losses are enforced through several separate routes, and if a market moves violently the execution system retries the stop automatically until it is filled.

At account level, the daily loss limit is capped at 1 per cent of the whole account and enforced at the broker, so it holds even if something upstream fails. At portfolio level, a strategy is switched off once its losses go beyond its historical maximum drawdown, which Tan reads as the sign that live trading has stopped matching what was validated. “None of these limits can be overridden by an agent,” he said.

The fund is a Singapore variable capital company under Peak Capital , the partner that holds the capital markets services licence from the Monetary Authority of Singapore , with Varsity Tech as sub-investment manager.

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