Manager Search and Selection
Like the other elements of Bristlecone's services, our manager search and selection efforts are client-centric and research-driven. Our due diligence process relies on a combination of rigorous qualitative and quantitative reviews and professional judgment. By effectively evaluating the strength of each firm's investment thesis and its ability to execute, we target those managers whose collective attributes should result in superior future results.
Our Objectives are to:
- Understand the true sources of each manager's future excess return potential.
- Identify managers who have favorable organizational and investment process elements that should lead to outperformance versus peer groups and passive alternatives.
- Understand the timing and magnitude of their expected success.
- Deliver full documentation and client disclosure.
Our Manager Due Diligence Process is Marked by:
- The evaluation and assessment of managers, and manager combinations, using qualitative and quantitative information.
- Our belief that quantitative analysis alone is not a sound method to select managers; rather, it supports the qualitative research process and helps confirm our expectations for and confidence in each manager.
The Importance of Ongoing Monitoring is to:
- Ensure that portfolio activity is consistent with our expectations for the strategy.
- Evaluate manager behavior and performance through a full market cycle.
- Document and communicate our ongoing findings.
- Continuously confirm our confidence in each manager relative to alternate managers.
