Due Diligence

When assessing managers, we don't just drill down. If there's an edge, we find it. If there are risks, we reveal them. If there's potential, we'll quantify it; if there's downside, we can tell you just how much. Our reviews measure what matters because we don't like surprises, either.

Qualitatively, we find out:

• what managers invest in, and why
  
• how they perform in down markets
  
• how reliably they adhere to their strategy
  
• how well they manage their business

Quantitatively, we pay close attention to:

• attribution analysis, so that we might distinguish style from skill
• down-capture ratios - a reliable gauge of risk diversification
• gain ratios, which measure the quality and consistency of profitability.