Multi-manager solutions

We seek to combine independent sources of alpha from Wellington Management’s broad array of investment approaches using proprietary risk research.

INVESTMENT PRINCIPLES

Our multi-manager solutions team has developed key principles that encapsulate the team members’ strongly held beliefs, including:

  • High active share is a useful measure of alpha potential, a critical element in structuring equity allocations, and a defense against closet indexing. This principle is based on the team’s belief that the potential to generate alpha increases as managers differentiate their portfolios from their benchmarks. Moreover, it helps guide the team’s efforts to ensure alpha potential remains high when constructing multi-manager portfolios for clients.
  • The impact of risk factors on returns has increased materially and, given structural changes to markets, is unlikely to decline. In addition, the team members believe risk factors are more nuanced and numerous than the classic “nine style box” would suggest. Therefore, they have created a detailed proprietary risk-factor framework that they employ in internal risk analysis and in the management of client portfolios.
  • Investment decisions should be guided by risk considerations. The team’s manager allocation process, factor research, and risk tools. As a result, they typically have a mandate to pursue alpha for clients but with a specific risk profile.
Kent Stahl

In recent years, the frequency of risk-factor outliers has increased dramatically, and today risk factors are generally on par with security selection in terms of their impact on portfolio performance.

Kent Stahl, CFA, Chief Investment Strategist

EXPLORE INSIGHTS​

After the inflection point: how the climate challenge will transform the global economy
The decarbonization commitments of countries around the world will fundamentally reshape the global economy. Members of our Central Macro Team highlight their research findings, from the effects on growth and the cost of capital to the potential for geopolitical conflict and higher inflation.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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October 2021
After the inflection point: how the climate challenge will transform the global economy
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Climate conundrum: will carbon constraints affect the pursuit of other portfolio objectives?
Members of our Fundamental Factor Team share their research on the potential for trade-offs when carbon goals are integrated into outcome-oriented, factor-based portfolios.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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October 2021
Climate conundrum: will carbon constraints affect the pursuit of other portfolio objectives?
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Sizing up Biden’s plan to decarbonise America
US Macro Strategist Juhi Dhawan examines the Biden administration's commitment to a lower-carbon economy, including proposed infrastructure spending, tax incentives and regulations, and the implications for industries and the broad economy.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
October 2021
Sizing up Biden's plan to decarbonise America
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<span>Insurance Multi-Asset Outlook — </span>Strong but slowing growth: a tale of two narratives
Markets appear to be caught between two hard-to-reconcile narratives: the pace of economic growth looks poised to slow, but the level of growth is likely to stay relatively strong. Multi-Asset Insurance Strategist Tim Antonelli and Investment Strategy Analyst Daniel Cook offer insights for global insurers at this point in the cycle.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
October 2021
Insurance Multi-Asset Outlook — Strong but slowing growth: a tale of two narratives
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Tim Antonelli
 CFA, FRM, SCR
Countering climate risks through collaboration
Global Industry Analyst Alan Hsu and Dr. Philip Duffy of Woodwell Climate Research Center discuss the importance of close cooperation between investors and climate scientists when addressing climate action.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
October 2021
Countering climate risks through collaboration
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Tech WELLcovered: experience transformed
5G, AI and augmented reality will soon offer exponentially more options for experiences outside of work — with each activity personalised for your interests. Join us on a journey to witness the past, experience the present and transform the way you see the future of fun and the investable opportunities it creates.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
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October 2021
Tech WELLcovered: experience transformed
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<span>Multi-Asset Outlook — </span>With growth and policy, which matters more: level or change?
While macro risks may be elevated somewhat, Nanette Abuhoff Jacobson and Daniel Cook still see opportunities, including in European equities and commodities. They also argue for being selective in credit while maintaining fixed income for diversification.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
October 2021
Multi-Asset Outlook — With growth and policy, which matters more: level or change?
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publish
<p style="font-size: 13px; margin:7px 0;">FUTURE THEMES | SOCIETY</p>The future of work: why societal shifts matter
While the pandemic has accelerated existing shifts in people's working lives, these changes may just be the start. We assess the future of work in 2030 and highlight some potential investment implications.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
September 2021

FUTURE THEMES | SOCIETY

The future of work: why societal shifts matter
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