Portfolio Advisory

Every fund in the portfolio was a good decision on its own. The question is what they do together.

Six managers, each convincing in isolation, and three of them quietly holding the same thing. A model that has drifted from the risk it was built to take. A committee asking whether the fund-level conviction still matches what the portfolio is actually exposed to.

Portfolio Advisory connects fund research to portfolio construction and oversight — building or reviewing single- and multi-asset models, examining what each holding is really contributing, and keeping that reasoning current as allocations change. Where Fund Research & Selection asks whether a manager is worth selecting, this asks what the combination is doing.

• Model portfolios, single- or multi-asset, combining active and passive where the mandate calls for it rather than as a house preference.
• An exposure review: asset allocation, manager overlap, portfolio biases, and the role each holding was supposed to play set against the one it is actually playing.
• Risk work — risk metrics, contribution to risk, liquidity — aimed at oversight rather than at filling a report.
• Rebalancing or switch proposals when the review finds something that warrants a change, and a clear statement when it does not.
• Monitoring and reporting: performance attribution, changes inside the underlying funds, and short notes on what actually moved.

Written so that recommendations, changes and unresolved questions can go through your own governance and be challenged there.

• You are building a model range and want an external view on the construction before it goes to clients.
• An existing model has never been reviewed by anyone who did not build it.
• Performance is fine but nobody can say precisely where the risk is concentrated.
• A committee needs to see whether fund-level convictions still add up to the portfolio-level objective.

Built for Swiss wealth managers and professional institutions. When the question starts with choosing individual managers, see Fund Research & Selection; for outsourced manager searches and delegated structures, see Dedicated Mandates.

We start from the objectives, constraints, current holdings and governance requirements — not from a model we already have. Construction or review then combines forward-looking views with quantitative work, fund research, exposure analysis and risk oversight. Monitoring carries the reasoning forward, so the next allocation change is argued against the same framework rather than a fresh opinion.

Implementation decisions remain with the client. Fund research and portfolio conclusions follow the controls described in Methodology & Independence: merit-based selection is separate from commercial relationships, which do not determine portfolio advice.

• It does not manage the portfolio and does not implement. Execution and suitability stay with you.
• It does not forecast returns. The work is about exposure, risk and whether the structure matches the stated objective.
• A review can conclude that nothing should change. That is an outcome, not a failure to find something.
• These outputs support professional documentation and decision processes. They do not constitute an offer or solicitation, and are intended for qualified investors and professional users in Switzerland.

Send the objectives, the current structure and the governance need. We will define the review and what you will receive.