Products / Services

Asset Allocation

Performa believes that asset allocation is one of the most important decisions that a client and its investment manager can make together. The process of establishing parameters for a well-diversified portfolio capable of performing in an array of market environments is far from a prepackaged, off-the-shelf process. We take pride in collaborating with our clients to fully understand their specific business, collateral needs, industry and reporting requirements. Our approach to asset allocation and portfolio construction involves the continual evaluation of capital markets and portfolio positioning to reach the goal of prudent, long-term buildup of surplus with an emphasis on capital preservation. As such, the asset allocation process is a thorough and thoughtful one that begins with in-depth conversations with each client.

Fixed Income Management

The fixed income allocation within a captive insurance investment portfolio acts as the low volatility anchor of the long term investment strategy and is the most important component of a captive’s portfolio. When it comes to fixed income we believe that our internally managed, captive focused strategies are the ideal vehicle to achieve fixed income exposure within self-insurance investment portfolios. Our goal is to deliver all of our clients the benefits of institutional investment management while ensuring that the investment portfolio risk profile fits that of the liabilities they support. For some clients, the best approach is through our actively managed cash, intermediate and high yield strategies that provide diversification, liquidity and value. For others, a separate account with customized investment guidelines provides the best overall structure. As a firm that focuses on captives, we are able to dedicate the time and resources to understanding each client’s unique risk and liability profile to develop a customized fixed income portfolio with the goal of providing safe access to liquidity while maximizing investment income.

Equity Management

When constructing equity strategies, principal preservation and prudent capital growth are paramount. Performa has multiple entry points for clients’ equity exposure. Whether the choice is one of geographic exposure, market capitalization or type of investment vehicle, there are options available to diversify equity allocations on a number of fronts.

Client Service

At Performa, we have more than 25 years of experience in managing and servicing insurance portfolios. We have a global perspective with offices in Vermont, South Carolina and Bermuda and offer direct access to senior investment professionals and members of the Management Team.

Our client service team is dedicated to meeting each client’s specific portfolio and reporting needs. We offer investment accounting and reporting, designed specifically for insurance companies and institutional investors.

Our Strategies


Cash Management

This is an actively managed strategy that seeks long-term capital appreciation, income generation and daily liquidity by investing in varying short-term, low-risk fixed income securities (U.S. treasuries/agencies, commercial paper, structured products and overnight deposits). Portfolios in this strategy typically have an average credit quality rating of A-1 and are measured against the ICE BofA 0-3 Month U.S. Treasury Bill Index.

Investment Grade Bonds

Intermediate Government/Credit

This is an actively managed investment grade bond strategy that applies a combination of top-down macroeconomic analysis and bottom-up fundamental research in seeking long-term capital appreciation, income generation and daily liquidity. Portfolios in this strategy typically have an overall average credit quality of AA-/AA3, an average duration range of 2-6 years and are measured against the Bloomberg Barclays Intermediate U.S. Govt/Credit Index.

High Yield

This is an actively managed high yield bond strategy investing primarily in securities issued by companies with below investment grade ratings. This strategy focuses on BB & B rated bonds while also allowing for opportunistic purchases of lower rated securities to increase the total return potential. Portfolios in this strategy are sub-advised by Seix Investment Advisors and are measured against the ICE BofA BB-B U.S. High Yield Excluding Utility & Energy Index.


Multi-Cap Equity

This strategy seeks to outperform the broad U.S. equity market by using a multi-manager, multi-strategy approach. Portfolios currently have exposure to 1) U.S. large cap equities (approximately 40% of the strategy), 2) U.S. mid cap equities (approximately 40% of the strategy) and 3) U.S. small cap equities (approximately 20% of the strategy). The large cap U.S. equity exposure is achieved through investment in one or more ETFs, the mid cap equity portion is sub-advised by Champlain Investment Partners and the small cap value equity portion is sub-advised by Pzena Investment Management. Additional managers and strategies may be added in the future.

International Equity

This strategy seeks to outperform the MSCI EAFE index by investing in non-U.S. companies with attractive growth opportunities at reasonable valuations. The strategy tends to avoid highly cyclical industries while focusing on companies with market caps above $1 billion. The strategy is sub-advised by JFL Global Investment Management. Additional managers and strategies may be added in the future.

For additional information on our products and services, please contact us.