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​

Global ESG Research Update — Looking inward on our diversity practices
Our team describes insights gained during a firmwide panel discussion with D&I officers from leading global consumer companies. We also provide an update on our ESG engagement and proxy voting activity in the quarter.
October 2020
Global ESG Research Update — Looking inward on our diversity practices
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Allocating to China — a deeper dive by asset class
Learn why we believe there is a strong case for increasing allocations to China across multiple asset classes.
October 2020
Allocating to China — a deeper dive by asset class
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Financial Market Review: third quarter 2020
A quarterly review of results in the global equity, fixed income, currency and commodity markets.
October 2020
Financial Market Review: third quarter 2020
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Monthly Market Snapshot: September 2020
A monthly update on equity, fixed income, currency and commodity markets.
October 2020
Monthly Market Snapshot: September 2020
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The US-China split: a tectonic shift in geopolitics
US-China tensions are here to stay, argue Geopolitical Strategist Thomas Mucha and Macro Strategist Santiago Millán. They look at the causes, potential outcomes and investment implications of the rift.
October 2020
The US-China split: a tectonic shift in geopolitics
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Asia tech opportunities
Tech progress has become as important as oxygen to companies and consumers alike. In this short video, Portfolio Manager Anita Killian discusses why she believes Asia tech is at the forefront of innovation in nearly every segment of the economy and highlights the types of companies that she sees as leaders in the sector.
October 2020
Asia tech opportunities
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Sustainable investing in 2020 and beyond
This event replay features a panel of leading experts from Wellington Management, the PR, and Harvard Business School and offers topical insights into sustainable investing.
October 2020
Sustainable investing in 2020 and beyond
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Halfway there: an update on the US economic recovery
Does the US economy have enough fuel to get back on track? Could it go off a fiscal cliff? Macro Strategist Juhi Dhawan responds to frequently asked questions on policy, employment and the markets.
October 2020
Halfway there: an update on the US economic recovery
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