Driven by Bailard’s robust, in-house research team of more than thirty individuals, we manage multi-asset class investment portfolios across a broad risk spectrum for our wealth management clients, including individuals and families across generations as well as foundations, nonprofits, and endowments. We carefully construct diversified portfolios composed of asset classes that have low correlations with one another with the intention of enhancing return and reducing volatility.

Investment Strategies

Whether it’s capital preservation, income, growth, or somewhere in between, our wealth management portfolios are constructed to help achieve our clients’ goals. Investments are diversified across asset classes as well as within each asset area. For each client, we use a combination of quantitative research, fundamental analysis, and qualitative judgment to build a diversified portfolio composed of individual securities, exchange traded funds, and pooled vehicles.

Our process begins with the creation of a longer-term strategic portfolio that consists of a mix of low and high volatility assets. These generally include cash and cash equivalents, fixed income, domestic and international equities, real estate, and some specialized strategies, although some clients may choose not to invest in certain of these asset classes. Our strategic mix of assets changes based on economic, valuation, and market factors; in general, we don’t expect frequent changes to this long-term strategy. In addition, we seek to take advantage of shorter-term opportunities in the markets by increasing or decreasing our clients’ exposure to individual asset areas. Most strategies delivered to our clients are developed and managed in-house; we believe this enables innovation to flourish, provides a drive to continually refine our investment processes, creates accountability and transparency to our clients, and gives us an edge on how to construct multi-asset class portfolios to best complement the investments within them. Additionally, in an effort to reduce portfolio risk and smooth returns, many of our portfolios incorporate our proprietary ESG Capture® framework to mitigate sources of non-financial risk and avoid environmental, social, governance (ESG) laggards.

Domestic Equities

Crafting a range of domestic equity strategies across styles, sectors, and market capitalization emphases to help generate competitive returns with an attractive risk profile.

International Equity

Capturing a broad range of international investment opportunities incorporating country, sector, and individual security considerations to produce a range of portfolios.

Technology Opportunities*

Capitalizing on our highest conviction ideas in disruptive, high growth technology companies deploying the next generation of products and services we believe have the capacity to revolutionize industries worldwide, delivered via a concentrated, long/short portfolio.

Real Estate*

Delivering the unique benefits of private real estate exposure to provide return diversification from the equity markets. Strategies offered provide exposure to properties across a range of geographies, property types, and economic drivers.

Tactical Asset Allocation

A nimble, market-environment approach seeking to capture short-term market opportunities – and to protect portfolios in times of high market volatility – in a systematic manner by ranking and investing in a focused selection among thirteen broad asset classes.

Fixed Income

Pursuing total return while seeking to preserve principal and provide income, we use both municipal bonds and taxable instruments, as appropriate, based upon available after-tax yields.

Dedicated Sustainable, Responsible & Impact Investing

Integrating our client’s values into multi-asset class portfolios with similar risk and return characteristics as the broad market indices, we work to position your portfolio away from companies with egregious patterns of behavior on corporate social responsibility issues, human rights, environmental practices, supply-chain management, and corporate governance.

Investment Process: Customizing a Tax-aware Portfolio for You

How we customize your portfolio to match your goals and values

Each Bailard Wealth Management client has unique investment objectives and risk tolerances, and our disciplined investment process helps ensure your portfolio is positioned to withstand changing market and economic conditions.

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Understanding your goals and objectives

  • We maintain a long-term perspective and focus on risk-adjusted returns in line with your goals. Together with you, we build an investment roadmap that will encompass your financial priorities and risk profile as well as charitable and tax considerations.
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Together, we develop a long-term strategy

  • We create the multi-asset class portfolio that we believe is best suited to you and your needs. We personalize each portfolio with a diverse mix of asset classes that is consistent with your future financial objectives and centered on your comfort with risk.
  • When beginning a new client relationship, we review each of your existing holdings and determine which align to your objectives and which may no longer be suitable. We take the time to transition your portfolio in a tax efficient and sensible manner.
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Rooted in disciplined portfolio construction

  • The foundation, and largest component, of your portfolio is constructed with a forward looking three- to five-year strategic outlook. We identify and overweight those asset classes that are deemed to be undervalued but have the potential for greater value in the future. We underweight asset classes that we believe have become overvalued and may therefore be vulnerable to a market selloff.
  • As noted above, we can utilize a Sustainable, Responsible, and Impact Investing approach in pursuit of competitive returns as well as risk mitigation.
  • Because markets can move fast, we complement the strategic foundation of your portfolio with a tactical asset strategy that invests in the “now.” This smaller allocation is designed to be opportunistic, seeking to protect you from taking profits too early or letting small losses turn into larger ones.
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Utilizing robust risk management

  • Sound portfolio management requires diversification, which plays a crucial role in helping to smooth returns and mitigate risk over time. Research has shown the importance of diversifying investments not only across asset classes but also within them. As a Bailard client, your portfolio will be personalized with some or all of the building blocks we believe can help achieve your goals.
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Partnering with you to monitor, report, and refine along the way

  • As a Bailard client, you can count on receiving a high-level of care and attention. Our service includes not only detailed quarterly reports but also proactive and fluid communication and meetings to address your ongoing needs and changes in your personal and financial life. Our research team also believes in innovation, meaning we will work to bring you our best ideas in our investment strategies. Most importantly, you can call us—any time. And you can be sure that, regardless of market conditions, we’ll be by your side to help guide you through them.

Recent Insights

That’s Just the Beginning

Bailard, we have a long history of partnering with our clients to create new and unique strategies on their behalf. Our clients may utilize some or all of what we offer; we aim to provide wealth management tailored just for you. We look forward to hearing from you.

Color headshot of Louise Model.Louise Model
Vice President | Business Development Officer, Wealth Management
(650) 571-5800

There is no guarantee Bailard or any of its strategies will achieve performance or investment objectives. Past performance is no indication of future results. All investments have the risk of loss. The significant risks customarily associated with the development or ownership of income producing real estate include but are not limited to illiquidity, changes in supply and demand, and inexact valuation. A client or investor may lose all or a substantial portion of the investment.

The Bailard Real Estate Investment Trust, Inc. is the “Bailard Real Estate Fund,” and its inception date is April 20, 1990. The Bailard Multifamily Fund, L.P. is a new private real estate fund being formed by Bailard, Inc., a California corporation (“Bailard”) to facilitate investments in multifamily residential real estate projects located in the United States. The Bailard Multifamily Fund, L.P. will be formed as a Delaware limited partnership. Bailard Real Estate 2022 GP LLC, a newly-formed Delaware limited liability company (the “General Partner”), will serve as the general partner of the Fund; and, Bailard will manage the Fund’s investment process and day-to-day activities as its investment manager. Investors will be admitted to the Fund as limited partners pursuant to terms and conditions contained in the Fund’s Confidential Private Placement Memorandum dated April 2022. This does not constitute an offering. Shares of either fund, if offered, would be available for purchase only by qualified investors. This advertisement is qualified in its entirety by, and an offer or solicitation will be made only through, a final Confidential Offering Memorandum or Private Placement Memorandum as applicable, and will be subject to the terms and conditions contained in each Memorandum, respectively. The securities of the Fund may not be available to be offered in all states.

No guarantee or representation is given that either Fund will achieve its investment objectives. The Fund invests primarily in real estate. As a result, an investment in the Fund entails significant risks that are customarily associated with the development and ownership of income-producing real estate, including illiquidity, changes in supply and demand, and inexact valuation. The Fund’s shares fluctuate in value and may be illiquid due to a lack of redemption, the lack of a secondary market, and restrictions on transfer. Fees and expenses offset the return on the investment. The Fund may be leveraged. For a more thorough discussion of the risks involved in making an investment in either Fund, please refer to its Memorandum, including the respective sections related to Risk Factors.

The Fund’s performance results are presented on a gross-of-advisory fee basis prior to June 1, 2002, and on a gross-of-advisory fee and a net-of-advisory fee basis since June 1, 2002. Prior to June 1, 2002, the Fund’s advisory fee was externalized and paid by investors at their individual account level. After June 1, 2002, the advisory fee was internalized and paid directly by the Fund to Bailard. The advisory fee is an annual fee of i) 0.85% on net assets up to $750 M; and ii) 0.75% of assets above $750 M. The underlying performance results of the Fund are calculated using National Council of Real Estate Investment Fiduciaries’ (NCREIF) methodology and reflect the impact of leverage, interest, and dividend income from short-term cash investments and publicly-traded real estate investments, as applicable. Capital expenditures, tenant improvements, and lease commissions are capitalized and included in the cost of the property; are not amortized; and are reconciled through the valuation process and reflected in the appreciation return component. The performance results do not reflect Fund-level expenses, such as audit, tax, legal, operating management fee, and accounting expenses. The Fund’s income return is not the distributed income to the investor, and the Income Return is presented gross-of-fee and before Fund expenses.

The NCREIF gross return methodology is as follows: the total gross return is equal to net investment income plus appreciation divided by the beginning net asset value plus time-weighted external contributions less time-weighted external distributions (“Time-Weighted Denominator”). With respect to income and appreciation, the NCREIF methodology for net income return is equal to net investment income divided by the Time-Weighted Denominator, and net appreciation return is equal to appreciation divided by the Time-Weighted Denominator. Returns shown are inclusive of dividends reinvested as they are accounted for as an external contribution upon reinvestment. Returns for periods greater than one year are annualized. Annual returns are time-weighted rates of return calculated by linking quarterly returns. Income and appreciation returns may not equal total returns due to compounding effects of linking quarterly returns. From inception through the second quarter of 2009, all properties were appraised annually; from the third quarter of 2009, all properties have been appraised quarterly. Recent acquisitions are carried at cost until first appraisal. The Fund’s Board of Directors determines the value of properties based on input from independent appraisers and all levels of the Fund management. Securities, derivatives, and cash and cash-equivalent investments held by the properties and Fund are marked to market on each valuation date. The Fund’s Inception Date is April 20, 1990. The NCREIF Fund Index – Open End Diversified Core Equity (NFI-ODCE) is a fund-level, time weighted return index reporting the performance results of various open-end commingled funds pursuing a core private real estate investment strategy and qualifying for inclusion in the NFI-ODCE based upon certain pre-defined index policy inclusion characteristics. Like the Fund, the NFI-ODCE performance results reflect leverage and the impact of cash holdings and joint ventures (i.e., returns reflect each contributing fund’s actual asset ownership positions and financing strategy). As the Fund has done in the past, some NFI-ODCE funds may invest in real estate securities. The use of leverage varies among the funds included in the NFI-ODCE. The NFI-ODCE (EW) shows what the results would be if all funds were treated equally, regardless of size. Like the Fund’s presentation, the Income Return is shown gross-of-fee. Per NCREIF, fees represent investment management advisory fees. To the extent fees are paid outside the fund, a deemed contribution and fee expense is recorded to capture the impact of fees in the net of fee returns. NCREIF defines gross and net of fees as follows:
• Total Return, gross of investment advisory fees, based on changes in published market value Net Assets. The data contributing members provide all fund level returns as well as other pertinent data. NCREIF does not calculate individual fund returns but does calculate the overall aggregated Index return based on invested capital.
• Total Return, net of advisory fees. Net of fee returns are only presented at the Index Aggregate level to provide a proxy for the average advisory fees charged. Fee structures not only vary across managers and funds but also within a fund as fees may be negotiable and scaled based on the size of an investors’ investment.

Unlike the Fund, NFI-ODCE index returns reflect fund-level expenses for some of the included funds, as member funds treat expenses differently. Unlike the Fund, some NFI-ODCE funds may mark debt to market at each valuation period. The NFI-ODCE data, once aggregated, may not be comparable to the performance of the Fund due to current and historical differences in portfolio composition by asset size, geographic location, property type, and degree of leverage. The NFI-ODCE is unmanaged and uninvestable.

*Real estate and technology opportunities strategies are not appropriate for all investors.

Past performance is no indication of future results. All investments involve a risk of loss. There are risks involved in investing, including the risk of loss and the risk that the market value of your investments will fluctuate as the stock, bond, and real estate markets fluctuate. U.S. equity strategies are subject to style, size, and sector risks, for example the securities of technology-dependent companies tend to be substantially more volatile than the rest of the market. International and emerging market equities are subject to increased risks due to economic or political instability, differences in accounting principles, and fluctuating exchange rates, with heightened risks for emerging markets. Fixed income risks include but are not limited to interest rate, issuer, inflation, credit and liquidity risks. Real estate risks include fluctuations in supply and demand, inexact valuations, and illiquidity. An investor may lose all or a substantial portion of the investment.

These represent some, but not all, of the potential risks related to the investment areas noted; additional information is available in Bailard, Inc.’s Form ADV Part 2A. There can be no assurance that any Bailard strategy will achieve its investment or performance objectives. Bailard can give no assurances that they will achieve their investment objectives. Exchange traded funds (ETFs) incur management fees and expenses that will be in addition to Bailard’s management fees. The price at which an ETF trades on the exchange may sometimes differ significantly from its net asset value.