Meeting Date: Friday & Wednesday, 14 & 19 August 2026
“DISCIPLINE THROUGH CHANGE: STRENGTHENING CONVICTION, DIVERSIFICATION AND OVERSIGHT”
We are pleased to share a high-level summary of our August Investment Committee Meeting, which was conducted across two sessions to allow for a comprehensive review of the economic outlook, portfolio positioning, investment managers and governance priorities.
With global markets continuing to respond to changing inflation expectations, geopolitical developments and evolving economic conditions, the Committee maintained its focus on disciplined portfolio construction, rigorous manager assessment and strong investment oversight.
Key Discussion Highlights
- Market Outlook and Portfolio Positioning
The Committee reviewed the latest economic and market outlook, with discussions centred on the potential implications of moderating global growth and inflation.
Key observations included:
- Evidence that global economic growth and inflationary pressures may be slowing.
- The potential for this environment to remain supportive of quality fixed-income assets and selected equity markets.
- Continued monitoring of geopolitical developments and their potential impact on energy prices, inflation and market sentiment.
- Consideration of alternative economic scenarios to ensure portfolios remain resilient under different market conditions.
- Maintaining a diversified and evidence-based approach rather than relying on a single economic forecast.
- High Conviction List and Model Portfolio Review
The Committee completed a detailed review of selected investment strategies within the High Conviction List and model portfolios.
Areas of focus included:
- Reviewing manager performance, investment processes and responses to changing market conditions.
- Approving refinements to manager positioning across different portfolio risk profiles.
- Assessing the suitability of investment strategies for growth-oriented, balanced and more conservative portfolios.
- Examining the potential risks and benefits of quantitative and long-short strategies, particularly during periods of market stress.
- Ensuring portfolio allocations remain aligned with their intended objectives and long-term investment philosophy.
- Private Markets and Alternative Investments
The Committee reviewed a diversified private markets investment solution and considered the role that alternative assets may play within suitable portfolios.
The discussion covered:
- The importance of rigorous manager selection and institutional-quality due diligence.
- Diversification across investment managers, sectors, geographies, strategies and investment vintages.
- Liquidity considerations, capital-call arrangements and longer investment timeframes.
- The impact of fees, currency exposure and portfolio structure on investor outcomes.
- Balancing the potential long-term return benefits of private markets against their complexity and reduced liquidity.
The Committee will continue its due diligence before determining how these types of investments may complement existing portfolio strategies.
- Fixed Income and Specialist Manager Insights
The Committee also heard from a specialist fixed-income manager regarding its approach to identifying and capturing pricing inefficiencies within global bond markets.
Key areas discussed included:
- The use of quantitative research and market data to identify relative-value opportunities.
- The importance of liquidity, disciplined risk management and effective trade execution.
- How macroeconomic views can support credit selection and portfolio risk decisions.
- The potential effects of inflation, interest rates and government spending on bond and equity valuations.
- Strategy capacity and the importance of maintaining consistent investment outcomes as assets under management grow.
The presentation provided the Committee with an additional perspective on inflation and interest-rate risks, supporting a broader and more balanced assessment of the current market environment.
- Investment Governance, Monitoring and Technology
The Committee continued progressing initiatives designed to strengthen investment governance, portfolio monitoring and operational efficiency.
Priorities included:
- Improving the accuracy and consistency of investment exposure data.
- Reviewing model portfolio weightings and overall positioning.
- Enhancing regular monitoring and reporting across the Approved Product List.
- Developing further documentation to support investment governance and portfolio compliance oversight.
- Progressing an artificial intelligence integration plan using the firm’s existing technology environment.
- Exploring how AI can support investment research, monitoring and internal workflows while maintaining appropriate governance and human oversight.
Looking Ahead
The Investment Committee remains focused on implementing the agreed portfolio refinements, strengthening manager oversight and improving the quality of investment data and governance reporting.
Further work will include continued due diligence on private market opportunities, ongoing assessment of specialist investment strategies and enhancements to the firm’s portfolio-monitoring capabilities.
As markets evolve, the Committee will continue to test its investment views against alternative perspectives while maintaining a disciplined focus on quality, diversification, risk management and long-term client outcomes.
Our Commitment
Our Investment Committee meets regularly to review markets, assess investment managers and refine portfolio strategy. We remain committed to disciplined decision-making, rigorous governance and delivering long-term outcomes for our clients.
Disclaimer: The information contained in this publication is provided by Pacific Private Asset Management for general informational purposes only. It does not take into account the objectives, financial situation or needs of any individual and should not be construed as personal financial, legal or taxation advice, or as a recommendation to invest in any financial product or strategy. Any opinions expressed are those of the Investment Committee at the date of publication and may change without notice. While reasonable care has been taken in preparing this material, no representation or warranty is made as to its accuracy or completeness. All investments involve risk, including the potential loss of capital, and past performance is not a reliable indicator of future performance.
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