Investment Manager Evaluation

SAA’s approach to manager evaluation, search and selection for Partner Clients is multi-faceted. This process incorporates Investment Manager Reviews using SAA’s proprietary Manager Select database of managers with fixed income insurance specialization.

1. Initial List

SAA develops an a initial list of investment managers to consider utilizing SAA’s Manager Select database and Informa’s Zephyr platform.

Insurance companies planning to conduct a fixed income manager search can utilize Manager Select, on a subscription basis, to curate a list of qualified candidates based on their desired criteria, such as fee schedule, performance, investment process, etc.


2. Questionnaire

A customized, “client specific” supplemental questionnaire is created and distributed to the initial list candidates.


3. Evaluation

SAA evaluates the initial list of managers using propriety and 3rd party tools, as well as questionnaire submissions. Insurance companies that currently have a manager can instead utilize Manager Select to run comprehensive evaluations against competing firms.

Investment manager evaluation requires balancing the “four P’s” and requires both quantitative and qualitative analysis.

People Philosophy Process Performance
  • ● Corporate
    Structure
  • ● Organization
  • ● Insurance
    Expertise
  • ● Tenure,
    Experience &
    Team Stability
  • ● Compensation
  • ● Succession
  • ● Client Service
    Structure
  • ● Key
    Investment
    Beliefs
  • ● How
    Managers
    Add Value
  • ● Bottom Up/
    Top Down
  • ● Competitive
    Advantage/
    Value
    Proposition
  • ● Clear
  • ● Intuitive
  • ● Repeatable
  • ● Unique
  • ● Methodical
  • ● Risk
    Controlled
  • ● Adjusted for
    Risk
  • ● Adjusted for
    fees & Taxes
    if applicable
  • ● Consistency
  • ● Rankings vs.
    Peers
  • ● Consistent w.
    Philosophy &
    Process
  • ● Attribution

4. Recommendations

SAA develops a summary presentations of each manager’s responses, including a recommendation for finalists.


5. Interview & Selection

Chosen finalists will be interviewed. After a manager has been selected, final contract and fee negotiations will take place.


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