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Foundations & Endowments

The Discretionary/OCIO Advantage

Why go discretionary?

  • Increasingly complex markets: As your committee faces the growing complexity of capital markets, a discretionary arrangement can deliver the strategic portfolio management your organization needs
  • Resource constraints: Having a discretionary arrangement allows your committee to focus on the organization’s mission, long-term planning, and strategic objectives. A discretionary arrangement relieves the committee of the burden of ongoing portfolio management to focus on what’s really important.
  • Risk management and fiduciary oversight: With a discretionary arrangement, the advisor bears full fiduciary responsibility for managing the investment portfolio.
  • Timely decision-making: A discretionary model is more nimble, making it possible for the advisor to make and implement investment decisions in a more timely manner to address changing market conditions.

More and more, organizations are choosing a discretionary approach to investment advisory services. The 2018 Outsourced Chief Investment Survey reported that 36% of their respondents said they currently outsource or intend to outsource. The top reason cited was lack of internal resources, followed by better risk management and additional fiduciary oversight.

Read our white paper, “Putting Your Mission First: Why non-profits are choosing discretionary advisory services” here.

View our infographic, “Why Go Discretionary” here.

Why choose Arnerich Massena for discretionary services?

Trusted partner

Arnerich Massena has been providing investment advisory services for more than 27 years, and has offered discretionary services since 2007. We think of ourselves as your partner; our job is to support your organization in achieving its mission.

World-class investment selection and due diligence

We are known for our depth of proprietary research, expertise in sourcing and successfully investing across traditional and alternative investments, custom portfolio construction, and forward-looking approach.

Customized to your needs

We believe a discretionary service model offers an optimal structure for a successful long-term investment program. But we don’t take a one-size-fits-all approach. We don’t ask you to fit into our service model; we tailor our service to meet your unique needs.


Contact us to learn more

Speak with an Arnerich Massena advisor to learn more about our discretionary/OCIO services by contacting us at arnerichmassena@am-a.com or 503.239.0475.

What are discretionary services?

A traditional investment advisory approach focuses on making recommendations to support the committee in making investment and portfolio management decisions. In a discretionary model, also sometimes referred to as an outsourced CIO (OCIO) model, decisions on investment product selection, tactical tilts, and rebalancing — within the boundaries of the investment policy — are delegated to the investment advisor.