Pitcher Partners Private Wealth focuses on delivering high quality, risk aware, global multi-asset portfolio solutions, driven by research and data. The foundation of all our advice is to deliver high quality portfolios based on rigorous research and analysis. To improve longer term returns and to help manage downside risks, we recently have partnered with Drummond Capital Partners to further enhance our research capabilities and ability to execute portfolio decisions in a timely manner. We will continue to access research from Morningstar and SQM, providing independent and impartial assessment of investment opportunities and risks. 

To help distil, challenge and prioritise the variety of information, our Investment Committee engages the expertise of BMIS to align strategies with outcomes, ensuring we continue to focus on improving returns, managing risks and achieving client goals.  

 Below is further information about our investment services, investment committee and investment processes to give insight into on the rigorous processes your investments undergo. 

Background  

 Our Investment Services provide a foundation for achieving the financial objectives of our Private Wealth clients and is purposefully designed:  

• with strong risk management and governance.  
• to improve portfolio outcomes through institutional grade investment management. 
• with efficient and equitable trade execution. 

• to ensure accessibility and transparency of portfolios.  
• to deliver regular investment reporting and market insights.  

Our investment approach to managing risk factors is derived through our in-depth research and analysis of the investment universe, market dynamics and wider macroeconomic environment, in the context of our overall investment thesis, outlook and portfolio objectives.  

We focus on delivering high quality, risk aware, global multi-asset portfolio solutions, driven by research and data.  

Investment Committee  

 Our Investment Committee (IC) plays a central role in developing the investment and advice methodology which informs the decisions we make about the investment offering and strategies. This ensures a consistent level of advice and implementation for all Private Wealth clients. 

We analyse the macro and micro economic dynamics playing out across the global landscape, including perspectives on monetary and fiscal policy, market conditions and their impact on investments.  

The investment decision and delivery hierarchy is an iterative process with 5 key phases:  

•  Philosophy      The key beliefs and tenets that create the framework for investing.   
• Research         Assessing market, economic and investment research – cash, fixed interest, infrastructure, property, shares.  
• Construction  Determining asset allocation positioning, investment selection, meeting compliance and risk parameters, tax effectiveness, cost management, portfolio optimisation and stress testing. 
• Execution       Effective and efficient execution of trades are critical to long term out performance.  
• Reporting       Consistent, insightful market and portfolio commentary to ensure IC and investors are well informed.  

Our Investment ‘Ecosystem’  

Our advice is reflective of the independent research from Morningstar – one of the most regarded firms for investment research across all asset classes, global and domestic, investment funds and direct equities. 

For additional research, insights and expertise we engage the services of BMIS and SQM research for asset allocation and investment selection. 

Following an extensive search and due diligence process, we have recently partnered with Drummond Capital Partners (Drummond), a specialised, multifaceted financial services business with extensive experience in delivering solutions to wealth management firms. Drummond has its origins in institutional and family office environments, it is independently owned and operated, has a highly experienced and well-resourced team, and most importantly has a strong alignment with our values and philosophy.  

Strategic Asset Allocation (SAA) 

We access in-depth research and analysis of our investment universe, market dynamics and wider macroeconomic environment.   

These insights to formulate capital market assumptions (expected returns, volatility and correlations) to construct a view on a long-term asset allocation designed to best achieve the investor’s objectives over the longer term.  

The evidence-based approach allows us to both keep the noise and emotion out of investing and frees up time to focus on what matters most – a deep consideration of likely evolution of the economy and markets.  

The resultant SAA forms the basis for our long-term targets.  

Tactical Asset Allocation  

Tactical Asset Allocation decisions aim to add value by dynamically managing the portfolio’s asset allocation through the cycle, within risk limits.   

Drummond’s process contains over 200 different observable inputs which combine to generate quantitative signals which have historically improved investment outcomes.  

It provides us with a robust and repeatable process to input into our IC discussions.  

Investments  

Investment research is the cornerstone of portfolio construction.  

Morningstar Research provides us with an extensive research database of more than 700 managers across all asset classes, economic and market insights and direct equity analysis.  

We undertake extensive meetings with investment managers with those preferred investments included in our Approved Product List.  

Drummond’s research adds a further 200 meetings per annum. With their extensive experience in institutional and family office environments, is detailed research and access to Private Market investment opportunities.  

Portfolio Construction  

We aim to structure portfolios to achieve an optimal level of diversification across managers, asset classes, styles, regions, and liquidity with the aim of generating the best risk-adjusted returns within the portfolio risk limits.   

We use the proprietary mathematical optimisation, stress testing and simulation modelling systems from Drummond as inputs into our IC discussions.  

Portfolios are built to a strict fee budget to ensure certainty and are fully transparent. Drummond’s relationship with managers provides manager fee rebates for you that we could not otherwise achieve.  

We implement portfolios via the highest quality investment platforms, ensuring clients have state of the art reporting, data security, cost management and tax effectiveness. 

Trade Execution  

Drummond hold unique systems and technology position between investment platforms and financial advisers, providing niche execution services for faster and more consistent implementation of investment trades.  

Where appropriate, we operate via a Managed Account Portfolio solution. 

Reporting  

Consistent, insightful market and portfolio commentary ensure investors are well informed.  

The enhanced reporting will allow insights to be published on a more regular basis, as well as important updates outlining any key portfolio changes as they occur.