Provider Profiles
PFM
| Profile | |
| Business Model/Type§ | OCIO + other |
| Year Entered Into OCIO Business | 2001 |
| No. of Relationship Managers/Salespeople | 10 |
| No. of OCIO Portfolio Managers | 5 |
| OCIO % of Total Firm Revenue | 17% |
| No. of Clients, Full Discretion | 236 |
| Full Discretionary Assets | |
| Total Full Discretionary OCIO Assets | $16B |
| Discretionary Assets by Fund Type | |
| Defined Benefit | $4.1B |
| 401(k), 403(b), Other DC | $5B |
| Endowments/Foundation | $1.8B |
| Health Care | |
| Other | $5.2B |
| Portfolio Construction |
PFM views asset allocation (strategic and tactical) as the most important drivers of returns, with manager selection being the third main factor. They also utilize both active and passive strategies depending on the efficiency of the asset class, available universe of managers and timeframe for the allocation. Rather than focusing solely on manager selection to add value, They seek to build a diversified portfolio, with both active and passive components, and adjust the weights to various asset classes or sectors based on their views of the market as a primary source of adding value to our client portfolios. Their Investment Committee and research team meet formally on a monthly basis. |
| § | OCIO only: Open-architecture (no proprietary products used): Investment outsourcing is only business line. |
| OCIO + other: An open-architecture/manager-of-manager investment outsourcing platform as one of multiple business lines. | |
| Implemented consulting: i.e. consulting firm that also has discretion over assigned assets. | |
| Proprietary/non-proprietary: An investment outsourcing platform that offers proprietary products alongside non-proprietary products. |