Discretionary portfolio management
You set the mandate. Hament builds and maintains the portfolio inside it, and reports against it.
What the mandate is
A discretionary mandate is a written document you sign that says what may be bought and sold on your behalf, within what limits, and toward what objective. It is the boundary of the authority you are granting, and you can change or withdraw it in writing at any time.
Inside that boundary, Hament places trades without asking first. Outside it, nothing happens. That is the whole of the arrangement, and it is worth reading rather than skimming.
How portfolios are built
Globally diversified, across equities, bonds and cash, using listed instruments and low-cost funds rather than structured products. The starting point is what the money is for and when it is needed, not a model portfolio with a risk label attached to it.
Concentration is treated as the main risk in this client group, because it usually is. Most people in this range hold one position — often their own company — that dominates everything else on the balance sheet, and the portfolio around it has to be built with that in view rather than in isolation.
What you see
Your account at Interactive Brokers, in your name, which you can log into independently. And a client portal carrying your plan, your holdings, your allocation against its target, and the documents you and Hament exchange.
- Reporting currency
- US dollars, including Tanzanian assets. There is one reporting currency and a shilling figure is a conversion at a dated rate, done outside the portal.
- What the portal shows
- Holdings, current allocation against target allocation, net worth over time, and a risk score. It is updated when positions and valuations are updated — it is not a real-time trading screen.
- Who does the work
- Hermes Massawe, with a small team. There is no research department and the site does not claim one.