Advice at the scale of the decision.

Myers & Cooper develops an investment policy and advises on its application across the portfolio.

The engagement can include ongoing monitoring, with attention to how individual positions affect the allocation as a whole. Where assets are held through several providers, we agree which records are available and which holdings fall within the assignment.

Investment Policy

We set out the portfolio’s return objectives alongside the losses you are prepared to tolerate. The policy records investment restrictions and agreed allocation ranges, giving subsequent recommendations a reference point. It also specifies the investment horizon and any holdings that must be retained, so recommendations account for constraints from the outset.

Asset Allocation

Myers & Cooper assesses exposure across asset classes and the concentration created by related holdings. Recommendations account for overlapping positions, including where several investments depend on the same market or source of revenue. The proposed allocation sets out the intended role of each asset class and the proportion of the portfolio assigned to it.

Investment Selection

We consider whether a security or fund adds a useful exposure at an acceptable cost. The proposed holding is assessed against the alternatives available for that role. Where a replacement is being considered, we account for the costs of changing positions and seek input from your accountant on relevant tax implications.

Liquidity Planning

Expected spending and known liabilities inform the provision for accessible funds. We consider when cash may be required and which holdings could meet that requirement, allowing for their terms and the conditions in which a sale might occur. A schedule of anticipated receipts and payments helps identify periods when additional reserves may be needed.

Ongoing Monitoring

Myers & Cooper tracks allocation weights and changes in concentration against the agreed policy. Departures from those parameters prompt an assessment of whether to rebalance and the implications of doing so. We distinguish movements caused by market prices from changes arising through contributions or withdrawals, so proposed adjustments address the underlying cause.

We assess proposed subscriptions to private funds and direct investments within the agreed remit.

The engagement addresses the economics of participation and the obligations arising from the documents provided. We agree whether the assignment covers the initial proposal alone or subsequent revisions to the terms.

Funds and Direct Opportunities

For fund proposals, Myers & Cooper examines the manager’s strategy and how capital is expected to be deployed. Where previous investments are available to examine, we consider how representative they are of the strategy now being proposed. A direct assessment addresses the specific business interests being offered and the ownership position you would take.

Underlying Economics

We evaluate the sources of expected proceeds and the claims that would be met before money reaches you. The assessment considers how financing costs and the distribution structure affect your participation. For a business investment, this includes the relationship between reported earnings and cash that could be available for distribution.

Participation Terms

The work covers charges borne by the investor and rights attached to the holding. Myers & Cooper identifies provisions concerning access to information or consent to material changes. We also examine provisions that permit new capital to be raised and consider their potential effect on your ownership interest.

Commitment Requirements

We distinguish the initial payment from amounts that may be called later. The assessment considers the funding timetable and provisions that could extend the period for which money remains committed. It also covers the notice given for funding requests and the stated consequences if an investor cannot meet a call.

Portfolio Fit

Myers & Cooper considers the proposal alongside existing private holdings, including exposure to the same manager or investment strategy. We also assess whether several commitments could require funding during the same period. The work can include concentration by fund vintage, helping you consider how heavily commitments are weighted toward a particular investment period.

Specialist advice, connected to the investment decision.