How We Invest

Permanens Capital believes:

  • Asset allocation must be customized for each client - no two clients are the same
  • Endowment allocators should have direct investment experience
  • Manager fees should be low cost and non-conflicted
  • Clients should avoid comingled asset exposure whenever possible
  • Conventional benchmarks often create pressure to conform and may add unintended risks
  • Investors have sacrificed liquidity and overpaid for mediocre investment performance

Permanens Capital creates customized investment governances and asset allocations that match client operating risks and cash flows. Utilizing a combination of inexpensive ETFs, funds, and customized sector portfolios, Permanens seeks to construct the lowest cost and most liquid custom portfolio for each client. Permanens aggregates client allocations to achieve institutional, lowest fee structures.

The Permanens Approach

  • Allocators frequently first find managers, then evaluate fees and terms, and lastly evaluate strategy
  • Permanens starts with an asset class, then finds the most appropriate, liquid, lowest fee exposure
  • We utilize customized, sub-advised portfolios, ETFs, mutual funds, and hedge funds
  • No active stock selection
  • Limited use of hedge funds, mostly for more complex assets
  • Avoid private wealth management execution costs and slippage
  • Minimize non-traditional risks: custody, commingling