04Long-Term Horizon
Time is the asset most portfolios waste.
A long horizon is only useful if the portfolio is built to survive the middle of it. That means liquidity sized to real needs, not to comfort, and positions held with enough conviction to be added to when they fall.
We separate the money you may need soon from the money that can compound undisturbed. The second pool is where patience is allowed to pay.
It also means being honest about the cost of activity. Turnover, spreads and tax are certain; a short-term forecast is not.
Allocation
Built to be held, and to be added to.
Positions are sized so a fall is an opportunity rather than a forced sale. Cash and near cash are held deliberately, so nothing good has to be sold at the wrong moment.
- ·Liquidity sized to genuine near-term needs
- ·Deliberately low turnover where it serves you
- ·Rebalancing on rules, not on mood
How it works
Discipline over a full cycle.
- Planning horizonFull market cycles
- Liquidity bufferAgreed in the policy statement
- RebalancingRules based
- TurnoverKept low where it adds nothing
- Review cadenceScheduled, not reactive
Compare the plans available.
Each plan states its horizon, its minimum and the way returns are produced.