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Joined-up investment approach
When constructing the portfolio we bring together the top-down and bottom-up views. We call this being joined-up.
Our top-down people look at the global economy, financial markets and political risk, and think about how this will impact the portfolio. Their thinking is also influenced by the level and nature of the insights coming from our bottom-up people. Our bottom-up people look across the world for great assets and investment opportunities, thinking about whether they are being rewarded for the risk they are taking and having regard to the big picture context evaluated by our top-down people.
This joined-up, integrated approach means we don’t set a fixed strategic asset allocation from the top and then require those allocations to be filled across each of the investment sectors. Instead our investors come together to share insights and take a whole of portfolio approach to making investment decisions. It is the cornerstone of our investment philosophy and we consider it a key comparative advantage that significantly improves the prospect of meeting our investment objective. It challenges our people to think broadly, test and challenge their views and the thoughts of their external partners, and compare the merits of any one investment versus another.Joined-up investment approach