inestment ait series - grayswan investment · duna teon august 2016 l t l spotlight inestment ait...

DUNCAN THERON AUGUST 2016

www.grayswan.co.za l 021 852 2092 (CT) l 011 431 0141 (JHB)

SPOTLIGHT

INVESTMENT AUDIT SERVICES

INVESTMENT CONSULTING I WEALTH MANAGEMENT I REPORTING

CHIEF EXECUTIVE OFFICER

The purpose of an Investment Audit is to provide an independent “second opinion” whether an investment strategy and structure as well as the selected investment managers and funds as well as the related fees paid for such could be enhanced. Our experience of working in both the local investment advisory industry and the offshor investment management industry, where we either consulted to or managed most of the largest institutional funds’ assets in South Africa, puts us in a position to provide recommendations, which we believe are Global Best Practice for any investor.

An Investment Audit service incorporates a review of the following:

• Investment strategy;• Investment structure;• Investment Policy Statement (IPS); • Responsible Investment Policy; • Rebalancing and Transition Management Policy; • Securities Lending Policy and the• Transaction Cost Policy.

As part of the Investment Audit, we also provide a quantitative as well as qualitative review of:

• Each of the investment managers invested in versus their defined benchmarks and performance targets a as well as versus their respective peer groups;

• All the investment managers’ contractual arrangements i.e. the investment management agreement and the mandates;

• The performance targets, benchmarks and risk guidelines used by the investor and the selected investment managers;

GraySwan Investments provides investment advisory services to institutional

investors such as retirement funds, endowments, corporate clients and wealth

management services to family offices as well as private clients. Our strength is our

extensive investment and risk advisory and investment monitoring experience which

we have gained over the past fifteen years. We are our clients’ global long term

strategic investment thinking partners.

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SPOTLIGHT INVESTMENT AUDIT SERVICES



• Current fee structures of the selected investment managers and the relative attractiveness thereof in the industry.

Where no Policies exist we could provide the investor with draft Policies post the Investment Audit. In order for us to be able to conduct an Investment Audit, we will need the following information from the investor (in electronic format):

• An outline of the investment strategy and structure; • A copy of all the various Policies implemented by the investor; • Each of the signed investment manager mandates; • Monthly investment manager performance, net and gross of all fees, as from inception (in excel format);• Monthly investment manager market values as from their inception (in excel format).

We believe an Investment Audit is of material value to any investor, whether you’re a Trustee of a large retirement fund or a private investor which requires a second opinion.

MORE INFORMATION

If you have any question regarding our Research, Investment Consulting, Wealth Management or Reporting services please contact us today.

SPOTLIGHT

OUR INVESTMENT TEAM

The core of our investment team has been working together for more than 10 years. Our collective investment experience exceeds a 100 years of advising to and managing most of the largest institutional client’s assets in South Africa. Since the inception of GraySwan have we not lost any investment consultants or senior members of the team making us one of the most stable and experienced investment teams in the industry.

KOBUS FOUCHEHead of Reporting

Senior Investment [email protected]

KARLIEN DE BRUIN, CFAHead of Responsible Investing


TANIA THERONHead of GraySwan Wealth


DUNCAN THERONChief Executive Officer

Executive Investment [email protected]

DAVID MAETLAHead of PeerGroup Surveys


GREGOIRE THERONHead of Manager Research




inestment ait series - grayswan investment · duna teon august 2016 l t l spotlight inestment ait...

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