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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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