PORTFOLIO INVESTMENTS

ASA Consultants provides advice on overall investment strategy and the choice of fund managers, which correspond to the specific objectives of their clients. Fund performance is analyzed to identify attribution of return (e.g. by currency, asset category and security selection) as well as comparison with similar portfolios and benchmark measures such as broad equity indices. Analysis is also made of established commission levels and related fees together with advice on the reduction of hidden costs in the form of custody charges and affiliated party trading margins.

The client relationship begins with an identification of broad investment objectives, particularly fundamental issues such as risk tolerance and liquidity preference. From these objectives a decision framework is developed within which various specific investment opportunities may be evaluated. In certain circumstances existing fund managers may be operating at variance from desired goals. Should this be the case, alternative managers may be recommended as substitutes or added as complementary to the established managers.

The pace of change is accelerating in the international capital markets, with new types of instruments being developed virtually on a daily basis. ASA Consultants is well positioned to monitor these innovations and to provide background information as required to assure that clients are kept abreast of new opportunities as they present themselves. Our objective is to keep our clients at the forefront of investment technology. A valuable computerized data resource to perform detailed analyses and portfolio comparisons is always readily available.

From time to time questions do arise as to the proper handling of client’s securities and the accuracy of valuations/accountings generated by custodians. Although audits are time consuming, they may be commissioned but, alternatively, more simple systems of checking for compliance with proper procedures can be recommended and followed through.