Philosophy

One manager and many managers

Our firm belief in multi-management is rooted in the numerous benefits that it brings to institutional and retail investors. This includes cost-effective, hassle-free diversification, via the best asset managers in the industry. Our clients take comfort in our rigorous and transparent process that puts good governance at the centre of decision making.

Theory and pragmatism

We blend managers with the objective of maximising risk-adjusted returns. We think our approach is pragmatic and creates an appropriate framework for the manager blends to deliver optimal returns over time.

Freeing up and constraining managers

We have developed a competence in understanding the drivers of returns from asset managers and then giving selected managers the freedom within well designed mandates to deliver these returns. Some multi-managers focus on controlling the asset manager, forcing them into a box which may not be their natural domain - this may lead to a good manager delivering poor results because of inappropriate constraints.

We think our approach correctly emphasises manager blending over control, to maximise the likelihood of delivering on a client's investment objective.

Our philosophy is built on four key pillars:

• Thorough manager research that starts by asking the right questions.
• Portfolio construction that optimizes the return for a given level of risk.
• Risk management that focuses on avoiding unintended risk concentration.
• A patient approach with a long term focus.