What CA Looks For in a Manager

Strategy and Process


  •  Clarity and viability of investment principles and strategy
  • Consistency of the investment process
  • Transparency

Competitive Advantage


  • Differentiated interpretation of information and data
  • Quality of investment models, intellectual rigor, and creative thought
  • Disciplined execution of investment strategy



  • Commitment to product
  • Thoughtful management of firm assets
  • Alignment of firm ownership, economics, and succession plan with clients’ interests




  • Individual skills and experience
  • Sufficient resources (i.e., human, technological, and financial)
  • Experience, talent, chemistry, and stability of the team



  • Performance relative to expectations
  • Consistency of performance relative to expectations
  • Historical return relative to risks taken

Risk Controls


  • Degree to which risks are understood, measured, and transparent
  • Risk oversight
  • Strength of compliance culture and procedures
  • Quality of operations and controls for the strategy

Terms and Fees


  • Fees competitive with peer group
  • Reasonable investment minimums and liquidity provisions
  • Availability of commingled funds