Custom Portfolios for Institutional Mandates
We construct and manage separately managed accounts across securitized products and broader fixed income, tailored to client-specific asset exposure requirements, duration targets, and liquidity constraints.
Our Investment Playbook
Four Pillars of Every Mandate
Deep Focus
Each portfolio is built through disciplined underwriting and fundamental analysis. We concentrate on sourcing through established counterparties and proven channels.
Transparency
Our approach is designed to provide clear position-level reporting, actionable commentary, and direct access to the portfolio management team for ongoing oversight and dialogue.
Discipline
A robust, repeatable Investment Committee process governs sector allocation, security selection, and ongoing monitoring. Comprehensive scenario analysis and portfolio stress testing are a focus at every stage.
Alignment
We prioritize long-term performance and prudent risk stewardship, not short-term asset growth. Execution quality and cost efficiency are paramount. We maintain capacity discipline across mandates.
Implementation
Precision in Each Stage of the Process
Our approach is rooted in discipline, rigorous analysis, and ongoing oversight, aligning with long-term objectives and risk parameters.
I
Quality-First Asset Selection
We evaluate relative value opportunities across the $24 trillion U.S. consumer, residential, commercial real estate, and asset-based securities and loans markets.
Our focus is on assets we believe offer robust structural protections, durable collateral fundamentals, and attractive risk-adjusted spreads relative to historical ranges.
II
Disciplined Credit Process
Every opportunity is underwritten at the loan and pool level across a range of scenarios prescribed by the Investment Committee. Collateral must demonstrate resilience in the bear case.
Structure is stress-tested through adverse triggers, collateral deterioration, and early call scenarios. Yields are benchmarked against historical ranges and cross-sector relative value.
III
Ongoing Portfolio Monitoring
Positions are re-underwritten weekly using third-party models and monthly by the portfolio management team, with results escalated to the Investment Committee.
Collateral performance is tracked against original modeled outcomes, and divergences prompt recalibration of the underlying scenarios. Negative issuer or servicer developments trigger immediate reassessment outside the standard cadence.
Underperforming positions move to a watchlist with defined reduction timelines, reviewed monthly by the Investment Committee.
Client Reporting
Reporting designed for institutional oversight
Sardis clients receive monthly portfolio reports built around the metrics that matter to investment committees, boards, and regulators. Each report opens with an executive summary covering month-over-month changes by sector, key portfolio metrics, and written commentary on performance and positioning. From there, clients receive macro and sector-level market commentary, position-level detail with risk attribution and duration tracking, rate shock analysis across scenarios, and projected principal cashflows.
Reporting is tailored to each mandate. We work with clients to align outputs with IPS requirements, regulatory frameworks, and internal governance processes.
Ready to discuss your mandate?
We are able to work with banks, insurance companies, pension funds, endowments, and other institutional allocators seeking specialized expertise in securitized products. Reach out to explore how a Sardis SMA could fit your portfolio objectives.
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