Our primary emphasis is on asset class allocation selection. Studies consistently demonstrate that a vast majority (from 70 – 80%) of a portfolio’s investment return is predicated upon asset class selection. Therefore, we spend our time and effort on asset class analysis. We attempt to identify the asset classes that offer the best reward relative to risk to build a portfolio that reflects our macroeconomic outlook. Our flexibility allows us to invest anywhere across the globe, in any asset class. Our philosophy is that at most points in the market cycle there are asset classes significantly undervalued or overvalued; seldom are markets at a perfect equilibrium. We concentrate our investments in the most attractive asset classes (or unattractive classes by shorting). In short, we seek to find returns where favorable characteristics (attractive relative valuation and improving fundamentals) exist.
|Objective:||Primary emphasis on growth with secondary emphasis on income|
|Benchmark:||50% Barclays Aggregate (Agg) & 50% MSCI All Country World Index (ACWI)|
|Average Asset Allocation*:||Fixed Income 30-70%, Equities 30-70%, Cash 0-20%, Other 0-20%|
|Average Number of Positions:||10 - 20|
|Inception date:||December 31, 2007|
|Data Provided as of:||September 30, 2018|
* Average Asset Allocation ranges are guidelines and specific accounts may differ materially. Individual portfolios may vary.