How we Create and Monitor Portfolios

Model Portfolios

Cost Effective Model Portfolios

We recognise that intensive fund research is probably the weakest area for many IFAs and Discretionary Managers. Doing this effectively requires a number of face to face discussions and a great deal of analysis of the funds’ assets and trading histories. This takes a large amount of resource and is simply not practical in many cases.

We have therefore engaged Square Mile Investment Consulting & Research Limited (Square Mile) to do this underlying research on our behalf. The advantage of this is that we can access Independent, in depth, qualitative research, whilst still being in full control how our models are constructed and maintained.

The process is:

  • We define our model portfolios, based upon client outcome and managed to a range of risk and return profiles. We create a mandate for each portfolio, setting out the objectives, investment parameters, methodology, constraints and charges for each and Square Mile are engaged to provide independent oversight on the process.
  • The two main areas of oversight cover Asset Allocation and Fund Selection.  We create a strategic Asset Allocation for each model portfolio and Square Mile analyse these to ensure that they continue to meet their risk and return objectives.  We select a blend of funds for each portfolio and Square Mile analyse and comment upon our choices to ensure the best possible outcome for our clients.
  • The analysis is repeated on a quarterly basis and a representative from Square Mile attends our quarterly investment committee meetings to present their findings.
  • Our own investment committee reviews these updates and decides if any changes are needed or not.
  • The ultimate responsibility for both Asset Allocation and Fund Selection decisions remains with Grosvenor Wealth Management.

Whilst our investment philosophy is based on a buy and hold indexed based strategy, the analysts we have engaged do believe tactical tilts to the asset allocation and the use of active funds in some sectors can add value. Whilst this might seem a contradiction we believe it will be very useful in constantly challenging our core belief and making us question whether the conditions in the market justify some adjustment.

Square Mile

The firm was established in 2013 when a number of individuals came together from various companies within the fund management sector.

Square Mile is in the fortunate position of regularly coming into contact with some of the industry’s foremost investment professionals. They undertake many hundreds of meetings each year with a wide range of the top investment managers in this and other countries. Through their regular cycle of meetings, they begin to build relationships with the managers, and as the trust develops they become more candid in sharing their market views with Square Mile. In addition to meeting with fund managers, Square Mile also have regular consultations with prominent economists, strategists and investment specialists. These meetings allow their team to develop both broad and more focused insights into what is occurring within economies, markets and regions. These factors help their analyst team to keep abreast of events outside of their respective specialist fields.

The firm has 11 in its investment department, including the Portfolio Management Team. All 11 provide research and/or support to the 2 dedicated investment managers. All the investment managers are required to hold an appropriate investment management qualification.

It is very useful for GWM Asset Management to be able to access this research and analysis when creating, monitoring and maintaining our own model portfolios.

The key individuals are:

Jason Broomer, Head of Investment

Jason is responsible for our managed portfolio service as well as contributing to and supporting our research capability. He is a member of the Executive Management Team which provides input into the strategy and direction of the business. Jason commenced his financial services career in 1995 at Bentley Reid. He has extensive experience in fund research and running portfolios for private clients. Between 2008 and 2013 Jason worked at Butterfield Private Bank, heading up the London based fund research team and he was a senior member of the Asset Allocation Committee. Jason holds the ASIP qualification and he is an Associate of the CFA Society of the UK.

Victoria Hasler, Head of Research

Victoria became Head of Research in December 2014 after joining Square Mile as Senior Investment Research Analyst. She is a member of the Executive Management Team which provides input into the strategic direction of the business. Victoria is responsible for managing and developing the research team, in addition to focusing on fixed income fund research and looking after clients. Before joining Square Mile Victoria worked for Brewin Dolphin as a fund analyst. Prior to this Victoria was a Fixed Income Investment Manager at Rothschild Private Bank and a Fixed Income Analyst at Merrill Lynch. Victoria holds a BA (Hons) in Economics with French from the University of Durham. She holds the Investment Management Certificate and in addition is a CFA and CAIA charterholder.

Contact an Adviser