DID YOU KNOW?
In conventional fund management a single fund manager typically takes full responsibility for the management of a portfolio. In contrast, the multiple-counsellor approach involves dividing the assets of each portfolio among several portfolio managers, called counsellors. These managers then make independent investment decisions and manage their portions as though they were separate funds, but with full transparency.
Pioneered by Capital Group in the US in the late 1950’s, the initial objective was to implement a system that would manage the growing size of their portfolios. In addition to providing scalability, they also found that the result, which was a blend of each manager’s best efforts, contributed to consistency of returns, continuity of management and reduced key-man risk.
Foord first implemented the multiple-counsellor system in 2009. Today, all Foord global funds are managed using this system.
Insights
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The More Things Change...
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The Asset spoke with Singapore-based Brian Arcese, portfolio manager at Foord Asset Management to get his outlook and insights into investing in global equities in the current climate.