Investment Due Diligence
We conduct in-depth analysis of managers and funds to identify their edge and ability to continue delivering strong returns for clients.
Our reports include analysis and opinions on the elements we consider to be the key drivers for historic and continued success. |
PeopleHow experienced and appropriately resourced is the team?
Are the key people responsible for historic success still in place and are they aligned with investors? |
ProcessAre the investment strategy and processes sensible and realistic?
Is there evidence that the processes have been applied consistently across the portfolio investments? |
PortfolioAre the underlying assets performing well?
What are the key risks across the portfolio? How risky is the financing strategy? Are the asset valuations reasonable? |
PerformanceHow consistent has the manager’s performance been over time?
What have been the sources of return? What are forward looking return expectations? |
OperationsAre the valuation processes robust?
Are fees reasonable relative to similar funds? How realistic are the liquidity terms offered to clients? |
Ongoing Monitoring
Monitoring is the essential, but often overlooked step in high quality investment management. With little obligation on managers to provide detailed updates on the team, portfolio and processes this can be a significant challenge. Through our ongoing engagement with fund managers and analysis expertise we aim to keep investors informed of important changes.
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ConsistencyInvestment Funds rarely deliver outperformance on a consistent basis over the long-term. We continually monitor for changes to a fund manager's setup or approach that may lead to a shift in investment outcomes.
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Exposure and CharacteristicsBuilding portfolios of investment funds can only be effective if one understands what each underlying components contributes.
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