Our investment philosophy is to be research-led, analytical and value-adding at each stage in the investment process.
We are research-led, through the application of forecasts and analysis to portfolio construction and selection of investment managers and products. We believe research provides a disciplined and consistent framework for managing our portfolios and allows our portfolio managers to make more informed investment decisions.
We are analytical in the sense that all investments are thoroughly screened before and after investment, to assess their potential, both individually and as part of a wider portfolio. We understand real estate as a financial asset, and apply techniques used for other investment markets to understand real estate's role in a multi-asset portfolio, to analyse risk, and to identify and take advantage of market mispricing. Investment strategy is formalized through portfolio investment plans, which are monitored annually and reviewed as market conditions evolve.
We strive to add value at each stage in the investment process. This is achieved ‘top down’ through an optimized asset allocation framework, which targets underpriced markets expected to maximize performance for a given level of risk, consistent with each vehicle’s investment objectives. The ‘bottom up’ contributions from good asset selection, deal sourcing, and active management are fundamental drivers of investment performance. Real estate investment is unusual in that value can be added after purchase, and we seek to maximize these opportunities.