What the risk number on a fund document tells you
Seven boxes, one shaded: how the number is worked out and what it leaves out (sample note).
Market notes
Plain notes on risk, portfolios, fees and what moved in the markets, written for clients and anyone weighing up an investment manager. General information, not advice.
Rebalancing: why a portfolio sells some of what went up
Twice a year we bring every portfolio back to its mix. Here is why (sample note).
Shares, bonds and cash: what each part of a portfolio is for
Three building blocks, three different jobs (sample note).
How an annual management fee is worked out
A worked example on a $400,000 portfolio, with fund costs shown separately (sample note).