What actually
lands, and when.
The first twelve months, in the order you will experience them. Onboarding is done by the time this starts.
Welcome pack and portal access
Login credentials, your account reference, the name of your relationship contact and the custodian details you can use to verify holdings independently.
Capital deployed in tranches
Not all at once. A new account is built into what currently qualifies, at a pace set by the market rather than by your start date — so your entry price is not one day’s accident.
First monthly statement
Holdings, cost, current value and cash — a complete picture of the portfolio as it stands at month end.
First quarterly report
What was bought, what was sold and why, how the portfolio is positioned, and how it compares with the benchmark.
Annual review and tax statement
A conversation with the portfolio manager, and the capital gains statement your accountant will need.
What a normal
year looks like.
Ranges, not promises. Every figure below is an output of the process rather than a target it aims at — in a narrow market they fall, in a broad one they rise.
What you get,
and what you do not.
- What you will receive
- Quarterly reports, monthly statements, live holdings through the client login, and independent confirmation of your holdings from the custodian.
- Who holds your securities
- You do. Securities sit in a demat account in your own name with an independent custodian. The portfolio manager operates under a limited power of attorney restricted to investment activity.
- How often the portfolio changes
- Positions are held for quarters and years rather than days. Turnover rises when leadership rotates and falls when it does not — it is an output, not a target.
- When you will hear from us
- Monthly in writing, immediately for anything material, and whenever you ask. Access to the portfolio manager at onboarding and at periodic reviews.
- What we will not do
- Time the market on a view, hold a position because we like the company after the evidence has gone, or describe a bad quarter as anything other than a bad quarter.
- How to exit
- No lock-in. Redemption is subject to settlement timelines and any exit-load terms in the approved fee schedule, which we set out before you invest.
Your securities, in your name
Holdings sit in a demat account in your own name with an independent custodian. We operate under a limited power of attorney restricted to investment activity and cannot move assets elsewhere.
Regulatory disclosuresThe paperwork,
on a schedule.
Nothing here depends on you chasing it.
| Frequency | What you receive | Where |
|---|---|---|
| EOD | Holdings, transactions, realised and unrealised positions | Web login |
| Monthly | Account statement and performance summary | Email and login |
| Quarterly | Portfolio report and a written account of what changed and why | Email and login |
| Annually | Capital gains statement for tax filing | |
| On event | Anything material — a change in process, capacity or key personnel |
What happens
in a bad quarter.
There will be bad quarters. A concentrated equity mandate that never has one is either very new or being described dishonestly. What you can hold us to is how we behave during them.
You will hear from us first
If a quarter goes badly you will hear it from us before you work it out from the statement. A written explanation of what happened, what the process did, and whether anything is being changed as a result — which is usually nothing.
We will not manufacture a narrative
Some quarters are noise. Inventing a tidy explanation for them trains clients to expect signal where there is none, and makes the explanation worthless on the quarter it actually matters.
We will not change the process to feel better
The most expensive thing a manager can do after a bad run is quietly adjust the framework to make the last six months look avoidable. If we ever do change it, you will be told what changed and why, in writing, before it takes effect.
The framework behaved as designed is a different and more useful statement than the quarter was comfortable.
What we
commit to.
- Acknowledgement of any query
- Within 1 business day
- Substantive answer
- Within 3 business days, or a date by which you will have one
- Monthly statement
- By the 7th working day of the following month
- Quarterly report
- Within 21 days of quarter end
- Anything material
- Told immediately, not held for the next scheduled report
- Redemption instruction
- Acknowledged same day; executed subject to market liquidity and settlement
- Capital gains statement
- By 30 June for the preceding financial year
How you
exit.
Portfolio redemption — simple, quick and transparent.
No lock-in
You can redeem in full or in part at any time. There is no notice period and no gate.
Written instruction
A written instruction through the portal or by email is all it takes, and it is acknowledged the day it arrives.
Liquidated in an orderly way, or transferred to you
Positions are sold with attention to market impact rather than dumped, and highly liquid holdings mean that is days rather than weeks. If you would rather keep the securities, they can be transferred to your own demat account instead — they are already in your name.