Philosophy

William Blair’s Dynamic Allocation Strategies team manages global multi-asset strategies that offer diversified long and short macro exposures—asset class, currency, country, industry, duration, credit, style, size, theme, and volatility.

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William Blair officeIn the team's view, fundamental value exhibits gravitational-like force on price, and acts as a beacon on which price converges over medium- to longer-term horizons.

While these horizons typically represent too long a period on which to orient a portfolio exclusively, a focus on this horizon allows the DAS team to tilt the portfolio to take advantage of these inexorable valuation influences.

This focus also differentiates the DAS team's philosophy from that of most other investors, who often miss these influences altogether as they focus exclusively on shorter-term anomalies. The successful interpretation and navigation of these shorter-term influences are a critical element of the team's investment process, but not to the disregard of the underlying "tide" resulting from the pull of fundamental value. The team believes adding a top-down fundamental valuation-oriented capability to a portfolio can augment performance through return enhancement and risk navigation—capturing compensated opportunities while mitigating uncompensated risks.