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At IPS Capital, every member of the team plays a crucial role in delivering the best possible service to our clients. While our wealth planners and investment managers are often the people you meet with to discuss your finances, there is a whole team of vital individuals working behind the scenes to ensure you get the support you need.
Our Team Member Spotlight articles give you an insight into the professional and personal lives of various members of the IPS Capital team. This month, we’re introducing Tiziana Maida, our head of research.
1. What is your role at IPS Capital?
At IPS capital, we invest in equities, bonds and alternatives using funds and investment trusts. As the head of research, I am ultimately responsible for selecting the assets that go into your portfolios. I also carry out initial and ongoing due diligence.
I am supported by the broader investment team to assist with sector coverage. My speciality lies in fixed income (bonds) and uncorrelated strategies like hedge funds and alternative assets, which is my core field, while equities are covered by the team.
I occasionally meet clients which is a side of the job I enjoy as I have the chance to answer investment questions and educate them on something I am very passionate about.
2. How important is fund research when building an investment portfolio for clients?
Fund research is just as important as asset allocation when building an investment portfolio for clients, as it directly impacts long-term performance and the client’s ability to achieve their financial goals.
A robust and repeatable research process involves a full analysis of a fund managers’ philosophies, strategies, and track records, as well as risk management practices. This helps in selecting funds that align with client objectives and risk tolerance.
There are plenty of challenges in fund selection, such as defining a homogeneous peer group for each strategy for better evaluation, managing past performance bias, and closely monitoring very successful funds which grow fast and exhibit performance decay because of their explosive success.
Having a sound process helps avoid sub-optimal fund selection which in turn can lead to sub-optimal returns, increased risk, and client dissatisfaction, especially when they expose portfolios to unnecessary volatility.
3. What does your process for researching and choosing funds look like?
It all starts with a research idea which usually originates internally during discussions with the investment committee.
An example would be finding an equity fund that meets specific requirements, which could be style, sector type or very specific geographic needs. We would then screen the universe of available funds that meet our criteria and use quantitative metrics (measurable data) to create a shortlist of 5 to 10investment options.
After the quantitative part of the process, we start the qualitative part (focusing on interpretive information) where we meet managers and do preliminary due diligence before reaching a decision. The work does not stop there as we review and re-underwrite every holding on a regular basis, or whenever we feel that the base case has to be reassessed against competitor funds.
We run a subs bench of funds so that we can be ready to rotate out of an investment into something we also have conviction in and have been monitoring for months or years.
4. What do you see as the benefits of sustainable investing for clients and the wider world?
Sustainable investing offers many benefits to clients as it allows alignment of financial goals with personal values, potentially delivering attractive performance while supporting causes they care about. ESG investing has the objective of enhancing risk-adjusted returns in the long term so is definitely a useful tool to have for a professional investor.
On a broader scale, sustainable investing drives positive environmental and social change by supporting key players addressing the challenges of our modern world. Mobilising private capital towards these causes can foster innovation in the sustainable sector and encourage practices contributing to a more resilient global economy. By investing in ethical organisations,, clients can influence corporate behaviour and encourage responsible business practices, ultimately benefiting society and the environment.
5. What is the most rewarding part of your role at IPS Capital?
Two aspects of my job I like most are the continuous need to solve problems and the fact that it changes all the time because markets are constantly evolving. These two features mean my job is never dull. There is always an intellectually stimulating challenge to overcome and although there is an inevitable amount of pressure, the rewards make it worthwhile.
I am lucky enough to work with very smart people and this is the kind of job where you learn something every day, even when you’ve been doing it for almost a decade.
6. What is your favourite restaurant?
What is not my favourite restaurant! I have so many, and I feel very lucky to live in London because of all the great places it has to offer.
The first that comes to mind is Jose in Bermondsey. It’s a rustic Spanish tapas bar with an Andalusian feel to it. Hands down the best jamon iberico croquetas in London. I love the open kitchen and the informal counter seating, and while I’m not a big fan of the fact you cannot book, I still love it because it is all part of the vibe.
