Your portfolio is designed within the framework of your goals, risk considerations, spending budget, and other constraints viewed through the lens of the best thinking of our firm. We present our understanding of your objectives for your review and feedback.

• We build your strategic asset allocation based on our understanding of your needs, aspirations and “financial personality” as well as our capital market assumptions including our long-term view of risk, return and cross asset correlations among a number of asset classes
• We remain sensitive to changing market environments and we will make short-term tactical shifts to take advantage of emerging opportunities or to avoid taking on undue risks

Implementation through a broad spectrum of investment solutions

For individual portfolios that may be sensitive to the impact of taxes, we offer direct ownership of individual securities through our Core Equity Strategy as the foundation of your portfolio. Equity positions are complemented by other asset classes to help provide diversification, enhance returns and manage risk. In our decisions, we remain conscious of your low-basis legacy or concentrated investments, as well as real assets or other illiquid holdings you may have as we design strategies for diversification and risk protection.

For Non-profits
For operating non-profit organizations, we understand the need to consider the interrelationship between the investment pool and the entity’s operating performance, debt structure, capital projects and projected cash flows. In addition, we formulate a sense of the organization’s character. If it is well-regarded, it is because key facets, such as staff, management, programming and facilities, can translate into a positive reputation, enabling it to successfully fund raise. This broader approach enables us to determine how organizations may want to adjust strategy to accommodate different situations.  For example, declining operating results and a burdensome debt structure might dictate alterations to the spending rate and/or the investment allocation mix, while solid operating results with strong funding support from the “community,” might warrant consideration of more aggressive capital projects.

Whether serving in an advisory capacity or as an Outsourced Chief Investment Officer (OCIO), our primary objective is to preserve capital and enhance purchasing power over time. As discussed above, we consider the totality of client’s circumstances, including liquidity constraints, the Investment Committee’s appetite for risk and view of alternative investments, spending policy, timeframe, and other client characteristics. Based on our analysis of these client-specific attributes, we develop and model potential investment scenarios within the framework of our market and economic views, as well as the expected returns, volatility and correlations of potential asset classes. The resulting investment plan seeks to optimize potential goal attainment while mitigating unnecessary risk. 

Investment plans are implemented using open architecture solutions that minimize any conflict of interest. The managers we select undergo quantitative and qualitative review on a standalone basis and are only selected after a careful analysis of how they work together in your portfolio. We utilize both active managers and low-cost passive options where appropriate. We collaborate closely with internal staff, the Board and the Investment Committee to provide substantial operational support, deliver in-depth reporting and develop specialized educational communications when requested.