Investment Manager Evaluation

SAA’s approach to manager evaluation, search and selection for insurance companies is multi-faceted. This process incorporates Investment Manager data via Manager Select, an extensive online database of managers with fixed-income insurance specialization.

1. Initial List

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


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.

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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