Philosophy
We believe that superior risk adjusted returns can be achieved from multi-asset investing. Over the longer term all asset classes are driven by economic fundamentals. By identifying inefficiencies in valuations between markets (which occur over both the short and longer time periods) value can be added to clients’ portfolios through dynamic allocations to different assets and markets.
We hold absolute returns to be more important over the longer term than those relative to a benchmark or index. Our starting point therefore is to use the risk free rate to measure the relative attractiveness of different asset classes and we are comfortable taking decisive positions away from a benchmark.