Mangham Associates has been an investment partner to foundations, endowments and select families for three decades. It’s our mission to support our clients’ missions by building investment solutions designed to deliver strong returns and weather turbulent markets. We are a 100% independent, employee owned firm, driven by our core values and bound, as a fiduciary, to always put our clients’ needs first.
Our home has been Charlottesville, Virginia since our founding. Charlottesville offers us the opportunity to be part of a vibrant intellectual community that values continual learning though innovative research, fundamental analysis and the exchange of ideas. Our highly experienced team of professionals, led by two graduates of the University of Virginia, have expertise in all areas of investing including public equities, private markets, bonds and real estate.
Our uncompromising adherence to our core values dictates everything we do. In investing, these values have led us to a process which is fact-based, emphasizes quantitative analysis while including qualitative assessments, and is driven by collegial team debate in order to achieve the best outcomes. In client service, our core value of Partnership has helped us to earn our clients’ trust over the long term.
Mangham offers our clients access to high-quality investment portfolios comparable to the best-managed university endowments. We work to find the most talented investment managers from across the globe and are highly selective – in 2019, starting from a broad universe of thousands of potential managers, we conducted 278 meetings and made 78 onsite visits, resulting in eight select new investments.
Why Mangham Associates?
We are unbiased.
Our 100% independence means that we answer only to our clients. We can do the right thing without structural conflicts, competing priorities or distractions.
We are the right size.
Our $1.7 billion shared investment office is the right size to be nimble in our decision-making, provide high-touch client service and gain access to capacity‐constrained managers, yet we can still bring investment office best practices to our clients, who are often ill‐served by the investment community.
Approximately 75% of our client base is classified as a 501(c)3
This includes independent schools, community foundations, religious organizations, healthcare organizations, senior care organizations, conservation foundations, along with private foundations that make grants to support all aspects of health, education, local history, nature, ecology and youth
Sophisticated investment portfolios comparable to those of large university endowments
We recognize that different types of non-profits have different risk tolerances due to their internal financial structures. Our approach is to help our clients to develop a comprehensive policy based on the risk tolerances of the organization, the need for capital expenditures, and the organization’s specific capital structure.
We are sensitive to the limited resources of thinly staffed clients and adjust our services to meet their needs. All of our clients have direct access to our operations staff and receive guidance on transactional work such as trading, manager instructions, general account maintenance and audits.
Approximately 25% of our clients are high net worth families
These families typically have a long-term mindset similar to our non-profit clients - they are institutional in size, structure and expectations
We offer them access to the same high-quality investment portfolios as our non-profit clients – portfolios comparable to the best-managed university endowments
We recognize that no family is the same – each has its own unique circumstances and goals. With this in mind, we assist our clients with all aspects of family governance, including forecasting future spending, helping to meet philanthropic goals and making tax-efficient investment decisions. Based on their needs, we build a custom portfolio tailored to reflect their own values and desires.
Marrying investment expertise with tax awareness allows us to construct portfolios to fit each family’s tax situation. We use innovative investment strategies to enhance our clients’ after-tax investment performance.
Many of these clients have contributed significantly to the local community and beyond
How We Invest
Average investment experience
of ~15 years
As stewards of their portfolio assets we:
Do on-site diligence across the world to find investment opportunities
Are fee sensitive
Closely monitor their portfolio
Employ rebalancing discipline
We integrate invested assets with the specific needs of our clients to help them meet their
distribution needs, while balancing long-term real growth
These values lead to an investment process which is fact-based, emphasizes quantitative analysis while including qualitative assessments, and is driven by team debate in order to get achieve the best outcomes. Decisions range from establishing views on asset allocation (“what target should we have for bonds?”) to macro events (“should we have a position on Brexit?”) to manager evaluation.
Manager Universe (Thousands)
Manager Site Meetings (78)