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Active Management is designed for
institutional and individual investors who are seeking continual
oversight of the portfolios and active asset allocation of their
accounts, allowing Wright discretion to make changes when deemed
necessary by its Investment Committee. Active Management is
recommended for portfolios which do not have restrictions or
investment limitations. It is characterized by the immediate
implementation of an investment program utilizing one of Wright’s
equity and/or fixed income model portfolios.
Active Management of an Equity Portfolio
Wright reviews holdings in model equity
portfolios continually. Based on the current quantitative evaluation
of the security’s basic quality and qualitative input from security
analysts, the Investment Committee, on the recommendation of the
Portfolio Manager, may choose to add or delete holdings from the
model portfolios. Each manager also evaluates the weighting of
industry sectors within the portfolio and considers forecasts from
Wright’s Chief Economist, making changes to sector weightings when
appropriate. Although portfolios tend to remain fairly consistent
over time, Wright’s active management calls for changes in model
portfolios to be applied immediately to all client portfolios with a
similar objective. Wright may have full discretion to make changes
to some accounts; in others, changes may be subject to the approval
of the client institution.
Active Management of a Fixed Income Portfolio
Wright also reviews Fixed Income holdings
continually. Assisted by analytical tools such as Bloomberg® and
Bondedge®, portfolio managers assess quality ratings and monitor
developments in the economy, and the investment markets. Similar to
equity management, the Portfolio Manager considers input from
analysts (such as portfolio duration and relative sector
attractiveness) and brings to the Investment Committee any
recommendations for changes to the model portfolios. Fixed Income
portfolios also tend to remain fairly consistent over time. However,
based on the Portfolio Manager’s recommendations, changes may be
implemented as a result of declining bond quality, anticipated
shifts in interest rate trends, and changes in sector yields. Under
Wright’s Active Management, changes approved by the Investment
Committee are made immediately to all appropriate accounts with full
discretion. In some cases, portfolio changes may be subject to the
approval of the client institution.
Active Management of Asset Allocation
In addition to active management of security selection in equity
and fixed income portfolios, Wright offers active asset allocation
to meet various investment objectives. Wright evaluates the asset
allocation for all investment models on an ongoing basis. Changes in
the economy and investment markets may dictate change in the asset
allocation of a model. Wright’s Active Management then calls for
the implementation of this asset allocation change in all
appropriate accounts. Wright’s Investment Officers implement the
changes immediately in fully discretionary accounts. Changes are
implemented as quickly as possible if subject to the approval of the
client institution
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