New Fiduciary Insights Edition: Building Blocks and Costs of an Internal Investment Office

Managing an investment office for institutional investors can be a complex and costly endeavor. In the latest edition of our Fiduciary Insights series titled, Building Blocks and Costs of an Internal Investment Office, we delve into the core functions and costs associated with operating an investment office for multi-asset class portfolios of varying sizes, and provide insights into the diverse approaches to structuring an investment office adopted by institutional investors. Drawing on publicly available information, our own experience of decades in the industry, and market intelligence, we focus on three illustrative cases, examining what it takes to manage portfolios with $500 million, $2 billion, and $10 billion in assets. 

Our analysis identifies broad tendencies in how institutions of varying sizes design and structure their investment offices. Our goal is to frame the main factors that need to be considered when building an investment office.

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This and past issues of our Fiduciary Insights series are available on the Our Thinking page.