Understand
Goals, cash-flow needs, time horizon, behaviour, family responsibilities and existing investments come first.
Our approach
A repeatable process for decisions that cannot be predicted perfectly.
We do not begin with a fund list. We begin with the investor, build the portfolio logic and document the reasons behind each decision.
Diagnose
We examine asset allocation, overlap, concentration, liquidity, costs, category exposure and risk mismatch.
Research
Potential products are assessed for process, portfolio construction, consistency, downside behaviour, costs and fit.
Construct
Every holding receives a defined role. The combined portfolio matters more than any fund viewed in isolation.
Review
Monitoring focuses on changes in the investor, the product, the portfolio and the original reason for owning it.
Fund research framework
What we look beyond.
A recent return table is not a research process. Selection requires understanding what produced the result and whether that process is repeatable and suitable.
Investment team stability, incentives, depth and succession.
How ideas enter, size, change and exit the portfolio.
Concentration, factor exposure, liquidity, turnover and hidden overlap.
Consistency across cycles, downside behaviour and sources of alpha.
Expense ratio, exit loads, tax impact and total implementation cost.
The specific portfolio role and the conditions under which it should be reviewed.
The test that matters
Can the recommendation survive a difficult conversation?
If the reason for owning an investment cannot be explained before markets fall, it will be difficult to hold intelligently when they do. Clear reasoning is part of risk management.
Review my current portfolio