Step away from the herd
Focused on returns
The investment management industry should be focused on delivering returns but often prioritises managing volatility instead – so client money ends up in needlessly complex absolute return funds and portfolios are over-diversified.
At Tacit we’re focused on the long-term goal. We don’t allow performance to be spoilt by choice. Using our proprietary analysis, we only invest in 12-15 funds – the very best for each stage of the investment cycle.
We analyse what is happening in the world and critically test our scenarios and forecasts to come up with the investment themes in which we have really strong conviction. And we back those themes meaningfully.
Focused on UK clients
We only look after UK-based clients. That means our portfolios do not have to consider the currency risks of a global audience. We build global portfolios and are very conscious of home bias, but these portfolios are positioned to safeguard the interests of sterling investors.
Focused on serious risk
Don’t assume because we aren’t distracted by normal volatility that we don’t care about risk. The risks that worry us are the risks that should worry you – those that take you by surprise. That’s why each portfolio has a stabiliser element to it, like index-linked bonds, gold or cash.
These stabilisers help reduce the downside when something like a tech crash or liquidity crisis explodes on the markets. They also help insure portfolios from us not getting all our calls right.
When we build portfolios we understand that each client has a “risk budget”. The more adventurous the investor the greater the risk budget. We look at how we can use their risk budget most efficiently to generate strong returns – what are the assets we really want to own at this point in the market cycle? We then use the rest of the portfolio to mitigate the risks necessarily taken.
Focused on costs
Investors only benefit from net returns. Costs can eat heavily into those returns – especially over the long term when they undermine the benefits of compounding.
So charges matter – it is sometimes said that if Warren Buffett’s Berkshire Hathaway company had charged the same fees as many of its hedge fund peers its performance over the past 40 years would have been far from outstanding.
Helping to underpin Tacit’s strong historic investment performance has been our focus on keeping costs competitive and delivering value.
Focused on investing and on advisers
Tacit recognises the specialist expertise of financial advisers. We work in partnership with you, focused on just one key objective – managing our four portfolios to deliver outstanding performance for your clients.
Our strategies are designed to meet the needs of most UK-based investors.
An experienced team
Not much to look at, we know, but decades of experience managing investments institutionally.