Asset Managers Editing and Proofreading Services

Asset management is an industry where the product is invisible and the writing is not. A client cannot inspect a portfolio the way they can inspect a car; what they receive is a factsheet, a quarterly letter and an annual review, and their confidence in the manager is built almost entirely from those. This matters most in the quarters that go badly, because that is when clients decide whether to stay — and the decision turns less on the number than on whether the explanation reads like someone who understood what happened.

We edit what asset managers produce — fund factsheets and monthly commentaries, quarterly and annual investor letters, investment philosophy and process documents, request-for-proposal and consultant questionnaire responses, due diligence questionnaires, pitchbooks and capability presentations, market outlooks and thematic research, stewardship and voting reports, responsible investment and climate reporting, key investor information documents and fund prospectuses, client reporting packs and review documents, and internal investment committee papers. Our editors check that performance is described consistently with how it is presented, that the process described in the pitchbook is the one described in the commentary, and that attribution language survives comparison with the attribution table beside it.

The quarterly commentary in a poor quarter is the document that decides retention, and most are written to manage discomfort rather than to inform. The pattern is recognisable: a paragraph on macroeconomic conditions, a note that the strategy remains well positioned for the long term, and no clear statement of what actually cost the fund money. We rewrite these so the largest detractors are named in the first paragraph with their contribution in basis points, so the manager states whether each was a thesis that broke or a position sized too large, and so any change made in response is described alongside the positions deliberately left alone and why. Clients tolerate underperformance far better than evasion; consultants in particular are trained to notice when a good quarter is attributed to skill and a bad one to the environment, and that asymmetry does more damage over time than the drawdown itself.

Everything you send is treated in strict confidence, including holdings, unpublished performance and client material. We are editors rather than investment professionals, and nothing we provide is investment advice or a view on your strategy — your compliance function must approve anything intended for investors. What we can do is make the writing clear, consistent and candid enough to be believed.