We believe financial assets should be managed in a different way than the traditional way. This is why:

• Most wealth managers stick to the old school of management: conservative, balanced, growth portfolios. We believe this management style is less relevant now:
  • • Such portoflio construction claims that equity risk should be offset by bond allocation. With yields stuck at the zero rate limit, such a claim is less relevant now.
    • With the rise of trackers and ETFs, traditional wealth management can easily be disintermediated: a balanced portoflio can be built in a cost efficient way
• We prefer a goal based portfolio: what do you want to achieve with your portfolios or wealth and what is your investment timeframe?
  • • Since the financial crisis, and even more so over the past two years, it has become obvious that portfolio management should achieve something else than just produce income (a traditional conservative portoflio) or of produce capital gains (a traditional growth portoflio) or a mix between both (a traditional balanced portfolio). Incorporating non financial objectives (such as carbon footprint, social inclusion, diversity) now becomes a necessity.
    • Because we have a small number of clients, no two clients have the same portfolios: the portfolios we manage or oversee are truly bespoke

Because we oversee 100% of our clients’ wealth, we have a unique perspective on their asset allocation. Here are our principles for wealth management:

• Portfolios should be global with a multi asset allocation framework
• Managers should focus on Strategic Asset Allocation as the primary source of investment returns for clients
• Tactical Asset Allocation should be used with caution
• Portfolios should be managed in a cost efficient way
• ESG considerations should be part of the asset allocation process

Strategic Asset Allocation (“SAA”) is the single most important consideration to ensure your portfolio behaves as expected because it will drive both expected return and volatility.

• In simple terms, it is a mix of assets which use historic and prospective data to optimise the likelihood of providing a given outcome in the future
• Our understanding of your specific investment objectives forms the basis of our recommended SAA