Managing Outside Managers

Whittier Trust Company provides evaluation, selection, and monitoring of “outside” investment managers and funds.  We cover virtually all asset classes and categories. We have extensive experience and expertise in these functions. For over 15 years, we have used other firms to help manage client assets. In addition, a member of our investment staff was Managing Director at the nation’s leading consultant to high net worth individuals and endowments.

We begin by designing an appropriate manager structure, recommending appropriate combinations of investment styles (e.g., large-cap, mid-cap, and small-cap; US and non-US; Value, Core, and Growth).

We then conduct searches for new managers and work with the client to the extent desired to make the final selection. We prepare statements of investment guidelines for each manager and assist in the establishment of the new accounts. We also provide custody of client assets, if desired.

Ongoing monitoring is vitally important. We track the performance of each “outside manager” every quarter, with a comparison to benchmarks, and often include an analysis of portfolio holdings. We will recommend terminating a manger when the situation calls for it. We roll up performance at total portfolio, asset class, and asset category levels as is appropriate.