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Creating sophisticated, long-term financial solutions that are highly tailored to your individual needs.
Oxford can serve as a Fiduciary Advisor to pension plans, including defined benefit, supplemental executive retirement, cash balance and other plan types. In this role, we:
The largest risk to a plan sponsor is a shortfall in its ability to pay its long-term liabilities. The risk may be mitigated through:
Oxford offers asset allocation, consulting and manager selection service to address items two and three. We also can employ de-risking strategies focused on our clients’ fixed income portfolios. In general, we believe it makes sense for a defined benefit plan’s fixed income portfolio to match the duration of the actuarial liabilities. The closer a plan is to full funding, the larger the fixed income portfolio can be as a proportion of the overall assets. Some of Oxford’s defined benefit clients have fully immunized their portfolios, while others have taken a glide path approach. The choice between the two has been informed by the plan-funded ratio, whether the plan is open, and the plan sponsor’s willingness or ability to fund the plan.
Oxford’s approach to de-risking has two distinct attributes:
Oxford has substantial experience in developing defined benefit plan investment policy statements. We have led defined benefit plan boards to incorporate best practices into their Investment Policy Statement (IPS) document. Our process focuses on key topics that we feel all IPSs should address. These topics include:
Our customized reporting is built to help board members easily monitor the overall performance of the investment program, including risk-adjusted returns, plus the performance of managers and the total portfolio against appropriate peer groups and benchmarks.
We include an asset allocation policy within your Investment Policy Statement. We advise reviewing and either reconfirming or revising your investment Policy Statement annually. While we would not expect changes to long-term allocation targets frequently, changes in spending policy and/or any adjustments to an organizational mission should be included in a formal review of asset allocation at least once per year. Our annual Investment Policy Statement review is an agenda item that will ensure that new factors that may affect a Plan’s long-term asset allocation are systematically considered.
Oxford is the premier multifamily office in the Midwest and one of the largest Registered Investment Advisor (RIA) firms in the country, with oversight of more than $20 billion in assets (which includes assets under management) for over 700 families and institutions in 37 states.