# Manage the managers, from policy to committee report

For CIOs, OCIOs and consultants who manage managers for endowments, foundations, pensions and family offices. Set the investment policy, size and check the manager lineup, keep the fund ledger and report to the committee in one place. Every proposal waits for a person to approve it.

## Models, mandates and investment policy
Write the investment policy as a policy portfolio: a target for each asset class, with a lowest and a highest weight and a rebalancing threshold. Models and mandates carry their own targets, ranges and the restrictions the asset owner has set. When a sleeve or an account drifts outside its band, it shows up for review. Every change to a model or a policy is recorded with who made it and who approved it, so the committee can always see how the current rules came to be.

## Manager lineups in the Lineup Lab
The Lineup Lab sets the whole manager lineup against the policy bands. Look through each fund to the securities it holds, and see which names two or more managers own. See each manager's share of total-fund risk next to its share of the money, such as 8% of assets and 19% of risk. Compare each manager with its benchmark by active share, tracking error and information ratio. Cap the lineup at fewer managers and see which ones drop out.

## Style analysis and style drift
Check whether a manager invests the way it says it does. A manager's monthly returns are compared with large and small, value and growth styles. The result shows the manager's real style mix, how closely that mix explains the returns, and what the manager added beyond style. A rolling three-year view shows how the style has drifted over time. A value manager that has slowly turned toward growth stands out before the next committee meeting, not after it.

## Risk you can explain
Risk analysis shows where the total fund's ups and downs come from: market, style, sector and single holdings. Compare the fund with its benchmark and see which bets drive the difference. Enter a shock, such as stocks down 20%, and see the dollar effect on the fund. Replay a past market against today's lineup to see the total return, the worst month and the deepest drop. The results are written in plain terms, so a committee member who does not live in the numbers can follow them.

## Allocation within policy, with taxes in mind
Optimization proposes weights for managers and asset classes that stay inside the policy bands. It can weigh expected return against risk, guard against large losses, test how a mix holds up when estimates are wrong, and blend the office's own market views with market data. Compare rebalancing rules, such as fixed dates or a set drift limit, over past markets with trading costs included. For taxable family office accounts, it accounts for gains, losses and holding periods, so a better mix does not bring a surprise tax bill.

## The fund ledger
Every manager has an account in the fund ledger, sorted into asset-class sleeves under the policy portfolio, with a full change history. Private funds keep their own record. Capital calls, distributions and holdbacks are posted as they happen, and a manager's estimates are replaced by final values when they arrive. Returns and multiples since the start of each fund are shown and marked as approximate where they depend on estimates. A quarter-close board lists the manager reports that are still missing.

## Rebalancing and trade lists prepared for review
When the fund needs to come back inside its bands, or new money arrives, the platform spreads it across the sleeves within their limits and prepares sized trade lists. Each list shows what would be bought and sold, why, and what it does to risk. Nothing trades on its own. The platform never sends an order, and a professional reviews and approves each list before anyone acts on it. The approval is kept with the list in the archive.

## Attribution reporting to committees
Attribution shows what added to or took away from results: market, style and other factors, the difference from the benchmark, and the part left unexplained. Committee decisions are written up with the question, the options weighed, the evidence and the reasoning, such as replacing a small-company manager. Each decision is then delivered as a version that cannot be changed. Reports are prepared for review before they reach the committee, and the data behind every figure stays on file.

## Connected to the rest of the platform
Manager letters, calls and meetings are captured into the compliance archive and filed with the asset owner's record. Changes to a manager's website can be compared over time. Security prices, fund holdings and filings keep the picture current, and every figure keeps its source and date. Investment office work shares review steps and the archive with [financial advisors](/advisors), [tax](/tax) and [legal](/legal) work. See the [practice side](/practice), connect your own systems through the [developer guides](/developers), or [talk with us](/contact) about your committee's process.