Insights
Governance-focused commentary on delegated investment leadership and portfolio construction discipline.
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Why documented investment process is now a regulatory expectation, not a best practice
Fiduciary expectations have shifted materially. The FMA's conduct guidance makes clear that investment decisions must be explainable, repeatable, and documented.
Strategic asset allocation as the primary driver of long-term outcomes
Most performance dispersion in multi-asset portfolios traces back to asset allocation, not manager selection. Understanding this shapes how mandates should be structured.
DIMS licensing under the FMCA: what advisers should understand in 2026
The regulatory framework for discretionary investment management services continues to evolve. Advisers need clarity on what this means operationally.
Structured delegation: what trustee boards should expect from an OCIO mandate
Delegation is not abdication. Trustee boards delegating investment authority must understand what a well-structured mandate looks like and what accountability it creates.
Investment committee structure: the difference between process and theatre
Many organisations have investment committees that meet regularly but do not function as governance mechanisms. The distinction matters enormously.
Manager selection as a governance discipline, not a performance chase
Manager due diligence is frequently treated as a search for outperformance. In a well-governed mandate, however, manager selection is primarily a risk management function.