Research Group

The graphic details the various investment-research teams and shows how they relate to the firm’s main investment decision-making body, the Investment Policy Committee (IPC).

At the top of the graphic is a single box that reads “Investment Policy Committee.” Emerging from the bottom of the IPC box are four categories, or “branches.” Each vertically arranged branch comprises three boxes. The first box represents the “Research Area.” The second box in the branch represents the teams that serve that research area. The third box provides details on the tasks and duties of those particular teams.

The left-most branch begins with a box reading, “Applied Research.” The second box of this branch reads, “Capital Markets Research Team” and “Securities Research Team.” The third box explains, “Assists the IPC in determining asset class, country and sector forecasts, and portfolio themes. Conduct initial analysis and ongoing monitoring of all portfolio securities.”

The top box of the middle-left branch reads, “Theoretical Research / Risk Control.” The second box says, “Capital Markets Innovation Team.” The third box details, “Assists the IPC with the development and modification of portfolio drivers with theoretical, quantitative-driven capital markets technology.”

The first box of the middle-right branch reads, “Suitability Analysis.” The label of the second box says, “Portfolio Evaluation Group.” The third box explains, “Provides personalized analysis for clients and prospective clients of the Private Client Group.”

The final branch’s first box says, “Implementation / Monitoring.” The second box has three teams listed: Portfolio Implementation Team, Portfolio Engineering Team, and Trading Team. The third box reads, “Oversees, monitors, and applies portfolio changes as instructed by the IPC.”