Investment Philosophy

Guiding Principles
Portfolio Construction
Global Alternatives

 

Annandale's portfolio construction reflects our deep underlying beliefs in diversification and global investing when building multi-asset class portfolios. In Addition, we believe that prudently structuring the mandate of our investment managers can allow them to generate outperformance.

Purpose of Diversification.

To provide exposure to different asset classes with differing economic intuitions. We invest in equities to participate in economic growth, fixed Income for income and stability, and alternative assets for inflation protection, absolute returns, and smart beta characteristics.

Purpose of Global Investing.

To provide exposure to multiple geographies with different characteristics. Our portfolios are truly global with significant allocations to both developed international and emerging markets across more than just equities.

Structured Mandates.

It perplexes us that advisors divide one country (US) into 9 separate style boxes, but clump 150+ countries into just one box (International). In our opinion, both approaches are suboptimal. We believe in letting our domestic managers apply their expertise across the entire domestic market spectrum so opportunities found in one area can be applied to another. In addition, we like our international managers to either have a narrower scope (Asian equities) or sufficient resources to analyze multiple regions.