 
Portfolio Management ProcessesAt Outset Establishing Your Risk & Objectives Profile The portfolio management process starts with you, the investor and your Independent Financial Adviser. We at Q need an in-depth understanding of exactly what you need your portfolio to do. Do you need income now, or income in a few years time? Do you have other resources to fall back on and what percentage of your overall net worth does the portfolio represent? The answers to these questions will give us a risk and return profile for your portfolio and guide us in the amounts we invest and what investments we make. Segregating Cash Reserves Having sufficient cash reserves is an essential part of building your tolerance to stock market fluctuations. This enables us to invest efficiently and confidently on your behalf. We may make recommendations to your adviser if we think that you should be segregating more cash reserves before agreeing the amount you want us to invest. The portfolio deposit accounts of investment platforms are not great places to park cash, offering very poor interest rates. In general it is better to be cautious over the amount you invest, holding some funds back in higher earning deposit accounts. Target Equity Element Once it is clear how much you have to invest and we know what you are trying to achieve, we will establish a target investment percentage for your portfolio. This is the portion that we will invest in risk-based investments as opposed to more secure fixed income investments or cash - thus setting the asset allocation for the portfolio. This percentage will be a function of your financial position and the way our portfolio managers look at investment opportunities in the markets with a view to timing your investments. Investment Selections Once an asset allocation has been assigned, investments will be selected to match your risk profile and income objectives from Tideway Investment Partners' selected investment lists. These lists are constantly maintained. When it comes to actually buying the investments note will be taken of the very short term market conditions with a view to avoid buying on spikes which, whilst not disastrous, can get a portfolio off to a bad start. Ongoing Management Generally portfolios need rebalancing from time to time for the following reasons;
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