FRC is a team of experienced investment practitioners working as an outsourced investment office with assets under advice of $8.9 billion. We deliver the expertise available with out-sourcing and the focus and attention of an in-house team. FRC is headquartered in San Francisco and maintains an office in Kansas City.
Designing, implementing and maintaining a platform for the management of a multi-billion dollar
defined benefit trust is a complex task that requires a broad array of expert knowledge applied in a
disciplined framework. Ideally, the job should be executed by one centralized, dedicated team that
brings all the necessary skills to the table and focuses their attention on your plan. At FRC, we spend
the time required to work with senior management, investment committee members and staff to build
confidence and consensus in a comprehensive, centralized approach to pension management that
makes moving the plan to fully funded the top priority. This transformation requires an exceptional level
of cooperation and effort but once accomplished, yields significant benefits for all stakeholders. Key
elements of our investment platform include the following:
Strategic Asset Allocation—FRC brings breadth and depth of experience in a broad array of asset
classes to build portfolios that are best suited to achieve our clients’ investment objectives. With our
asset allocation glidepath approach we rebalance allocations as specific funded ratio milestones are
achieved. This dynamic approach helps to assure that asset and funded ratio volatility are minimized
without jeopardizing the portfolio’s ability to achieve the required return.
Manager Research—FRC performs manager research in the categories of traditional equity, fixed income, absolute return strategies (hedge funds), private equity, real estate and a variety of real assets. The investment professionals at FRC bring decades of practical hands-on experience in their asset classes. This practical experience allows for thorough, insightful due diligence, and monitoring of managers only possible from investment professionals who bring a practitioner’s knowledge to manager research.
Integrated Risk Management—FRC uses its risk management platform to measure and manage portfolio risk. Although we measure a variety of risk metrics, we focus our attention on the management of asset and funded ratio volatility. The risk management platform includes security level detail, holdings based analytics and stress testing. The FRC risk management team also leads the asset and liability hedging programs. The liability hedging program includes all aspects from assisting in the development of a hedging policy to implementation and oversight.
Investment Process Management–As your outsourced CIO, FRC provides a comprehensive and centralized investment process designed to suit your specific needs. The breadth and depth of the FRC team enables us to build and manage an investment process framework with the singular objective of achieving and maintaining fully funded status.
Fiduciary Responsibility—FRC and its partners act as fiduciaries to all clients. We share a common and explicit goal and responsibility with clients, and ultimately beneficiaries, to identify and implement the strategies and managers best suited to achieve the stated investment objectives.
Manager Research—FRC performs manager research in the categories of traditional equity, fixed income, absolute return strategies (hedge funds), private equity, real estate and a variety of real assets. The investment professionals at FRC bring decades of practical hands-on experience in their asset classes. This practical experience allows for thorough, insightful due diligence, and monitoring of managers only possible from investment professionals who bring a practitioner’s knowledge to manager research.
Integrated Risk Management—FRC uses its risk management platform to measure and manage portfolio risk. Although we measure a variety of risk metrics, we focus our attention on the management of asset and funded ratio volatility. The risk management platform includes security level detail, holdings based analytics and stress testing. The FRC risk management team also leads the asset and liability hedging programs. The liability hedging program includes all aspects from assisting in the development of a hedging policy to implementation and oversight.
Investment Process Management–As your outsourced CIO, FRC provides a comprehensive and centralized investment process designed to suit your specific needs. The breadth and depth of the FRC team enables us to build and manage an investment process framework with the singular objective of achieving and maintaining fully funded status.
Fiduciary Responsibility—FRC and its partners act as fiduciaries to all clients. We share a common and explicit goal and responsibility with clients, and ultimately beneficiaries, to identify and implement the strategies and managers best suited to achieve the stated investment objectives.