Our Process - Select Managers

"The integrity of managers and their organizations coupled with performance are the ultimate and deciding factors in manager selection."

After a policy is established, Ashbridge recommends managers from its carefully scrutinized universe of screened managers who best fit the goals, constraints and risk tolerances of the client's investment program. The Ashbridge manager selection process begins with the investment committee identifying an asset class or style for manager fulfillment and ends ultimately with the committee approving use of a manager. The process first uses quantitative methods to screen potential managers and then uses detailed qualitative factors to further differentiate between potential managers before finally accepting managers for use by Ashbridge:

Quantitative Screening - Our investment in research and data supports a large, proprietary database of the world's most qualified managers across a variety of asset classes. We categorize managers according to investment strategy and style, and performance is measured against specialized benchmarks.

Qualitative Analysis - To attain the highest probability of superior future return at an acceptable level of risk, we analyze a manager's historical performance under different market conditions with emphasis on return per unit of risk. To identify managers who are consistently high performers in their strategies or styles, historical performance is compared to benchmarks and peers. Additionally, managers are measured for tax efficiency.

Fundamental Analysis - We screen and evaluate individual portfolios based on variables such as valuation, growth, yield, quality, tax efficiency and a variety of other fundamental attributes.

Qualitative Review - Once this quantitative analysis is completed, we conduct a comprehensive qualitative analysis encompassing the manager's strategy, procedures, conformity to style, staff and resources. Our qualitative analysis includes on-site visits and interviews aimed at understanding the stability of the organization and the character of the individuals guiding investment policy decisions as well as support personnel.

Manager Approval and Implementation - The integrity of managers and their organizations coupled with the predictability of performance are the ultimate and deciding factors in manager selection. The final approval is made by the firm's investment committee.