Investment management
 
 

Our work relies on enduring personal relationships.

 

Single service

McInroy & Wood provides discretionary investment management to private clients. This service includes taking responsibility for the management of a client’s investments, having agreed a framework of policy and objectives in advance, as well as taking care of all matters relating to custody and administration of those investments.

Personal attention

We seek to establish professional and enduring personal relationships with all our clients. The first essential step is to meet prospective clients in order to talk about their existing assets, tax position, and income requirements. This will enable us to develop a general investment strategy with them, taking account of personal preferences and objectives. In formulating this strategy, the characteristics of different investment types will be explained and their suitability to the client’s particular circumstances assessed.

Service format

McInroy & Wood’s discretionary management service is provided through one of two parallel formats: either on a segregated basis via a portfolio of individual securities held in nominee name to our order for the client; or on a “pooled” basis via a holding in one or more of the MW funds. Where we make use of the MW funds as the medium for managing a client’s portfolio, the client will benefit from the same investment approach and thinking as is applied to the management of segregated portfolios.

Assuming similar investment objectives and requirements, the same asset allocation models and stock selection will be applied whether a segregated or pooled format is adopted.

The segregated format can have particular advantages for clients with very specific objectives and investment or tax requirements, which cannot be met under the pooled format.

However, the pooled format has become increasingly favoured by clients in view of the advantages offered by the collective structure of the MW funds, which include:

  • the deferral of tax on capital gains realised within the portfolio, allowing greater flexibility in portfolio management;
  • for smaller clients particularly, access to a well-diversified portfolio of international securities which otherwise would be difficult and expensive to construct;
  • the ability to add or withdraw funds without distorting the balance of the portfolio; 
  • simplicity of administration and tax reporting, since the client’s diversified portfolio is technically represented by only one holding;
  • the constitutional safeguards associated with authorised unit trusts.

The cost to the client is designed to be similar whichever format is adopted.

 
 

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