After more than a decade of collaboration, Frontier Advisors, Segal Marco Advisors and LCP have agreed to conclude the Global Investment Research Alliance (GIRA), bringing to a close a long-running partnership between the three independent investment advisory firms.
GIRA was established by Frontier Advisors and Segal Rogerscasey in 2013 to support the sharing of investment manager research across regions, with Lane Clark & Peacock (LCP) joining as the third member in 2014. (Segal Rogerscasey subsequently became Segal Marco Advisors following Segal’s acquisition of Marco Consulting Group in January 2017.)
Over more than a decade, the alliance facilitated the sharing of investment manager research and global perspectives across the three organisations. Insights from alliance partners formed an additional input into each firm’s manager research process, alongside independent research, due diligence and judgement in assessing fund managers. This reflected the importance of considering local client needs, regulatory settings, market structures and other regional factors. The alliance also provided a forum for sharing market insights and regional perspectives through regular investment committee discussions.
In recent years, Frontier, Segal Marco and LCP reviewed the role GIRA could continue to play as the global investment consulting landscape evolved. At the same time, each organisation developed new ways to access and assess investment managers globally while pursuing its own strategic priorities and expanding its international reach.
For Frontier, this has included continued investment in advice and technology capabilities, growth in clients outside Australia and the establishment of a presence in Asia through the opening of our Tokyo office in 2022.
Alongside these developments, advances in technology, data availability and remote meeting capabilities have made it easier for research teams to engage directly with investment managers around the world. As a result, the type of formal research exchange arrangement that GIRA was originally designed to facilitate has become less essential than it was when the alliance was formed.
The decision to conclude GIRA was reached jointly, recognising how significantly the businesses, markets and client needs of all three organisations have evolved since the alliance was established.
“GIRA has served its purpose well over many years, bringing together firms with a commitment to pure advice, shared values and high-quality investment research,” said Andrew Polson, Frontier CEO.
“As the world we operate in has evolved, so too have the ways in which we each source global insights and support our clients. This is the right time for each firm to pursue its own global priorities.”
“We are proud of our founding role in what was an innovative alliance reflecting a common commitment to independent thinking and global manager research,” said John DeMairo, President and CEO of Segal.
“We thank Frontier and LCP for their partnership over this time.”
“The collaboration that has taken place through GIRA, including exchanges of staff between our firms, has been incredibly additive,” said Zuhair Mohammed, Head of Investments at LCP.
“GIRA has been an important element of LCP’s international growth and investment capabilities which we are continuing to develop in line with our evolving strategic needs.”
While GIRA is concluding, Frontier remains committed to providing clients with access to global investment insights and independent manager research. The conclusion of the alliance reflects the fact that each organisation now maintains more mature and direct global research networks, greater technology-enabled access to investment managers and distinct strategic priorities for serving clients in the respective markets.
