To gain exposure to different types of assets within your portfolio, we will either manage a carefully constructed group of individual stocks or shares (known as a segregated fund) or we will pool your investment with that of other clients in one or more collective or unitised fund(s).
We manage segregated funds and collective funds side-by-side. Perhaps unusually, not only do we apply a common investment strategy to both, but the same investment professionals are charged with implementing it on a day to day basis and with talking to clients. Issues such as your portfolio size and any investment restrictions you may wish to apply will influence which route you choose. Segregated management of UK equities, for example, might be an advantage if a particular ethical slant needs to be employed within any investment portfolio.
Since we perceive that our expertise lies primarily in managing UK equities and in making proactive asset allocation decisions for portfolios made up of a range of assets (so-called ‘multi-asset portfolios’), we choose to work with external investment houses where to do so will clearly add value to our own clients’ portfolios. In all cases therefore, segregated or pooled, overseas equity market exposure is ‘sub-contracted’ to a carefully selected range of specialist managers, with whom we have no commercial or ownership link.