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Portfolio Advisory Process

A conservative approach.  A consistent experience.

Investment Management is the centerpiece of the Boulevard risk management history.  Since 2006, the same 3-part portfolio process has delivered consistency to client goals and expectations. Boulevard’s unique approach uses Mean Variance Optimization (MVO) to integrate management teams across 11 asset classes.  Our capstone proprietary formula measures MVO outcomes for each strategy.


Step 1 - Research. Boulevard employs only well-recognized active money management teams in 11 highly liquid, major asset classes. While it is true that few (if any) active money management teams can consistently outperform their relevant benchmark in terms of annualized returns, it is also true that certain management teams can consistently outperform their relevant benchmark in terms of risk-adjusted return. It is those management teams we identify through our research process.

Step 2 - Construction. Across 10 global asset classes, we screen over 10,000 active money management teams using triangular criteria: historical 5-year standard deviation, historical 5-year manager returns versus their category, and a management team leadership tenure requirement. This screening generates an overall list of about 300 management teams, which are evaluated against one another, and the top 100 are chosen. Boulevard then conducts extensive mean variance optimization (MVO) tests, then applies its proprietary formula for excess risk-adjusted aggregate return to validate its MVO findings. Finally, one manager per asset class is retained and the final 10 management teams are brought together to complete each of the five core strategies. For a list of current management teams, please choose Sub Advisors from the Portfolio Advisory menu.

Step 3 - Oversight​. Boulevard clients are never “un-invested” in due to changes in market conditions because its chosen asset classes have a relatively low degree of correlation to each other.* Most often when one asset class struggles, another succeeds. Boulevard also only employs active management teams, so relies on their respective discretion regarding cash holdings in client allocations.


· Weekly Activity – Client reviews are available on a weekly basis throughout the year.

· Monthly Activity - Income clients receive their income payments on a monthly basis.

· Quarterly Activity - Management teams are re-screened for risk, reward and manager turnover.

· Annual Activity – All accounts are rebalanced to maintain their intended allocations.


*does not apply to Separate Account Management

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