The due diligence process conducted on third-party managers emphasizes a thorough evaluation of the firm’s:

• Organization and people
• Investment philosophy and process
• Historical performance, both in terms of return and risk management
• Terms and conditions

On-site visits are a necessary component of the evaluation process, helpful for assessing qualitative factors such as:

• Passion and drive
• Organizational resources
• Firm culture
• The quality of personnel

An appropriate alignment of interests is critical. We prefer management firms that are:

• Independent
• Employee-owned
• Have a high degree of personal investment in their strategies

For highly “efficient” asset classes, Oxford may utilize certain index or factor-based solutions to complement traditional active managers.