The Passive Strategies solution offers a wholly Passive investment structure with low costs and firm academic validity. It comprises Passive funds invested across seven distinct asset class groups and governed under a discretionary mandate. Each asset group is managed as a discrete model and is populated with index tracking funds selected by Parmenion aimed at meeting the returns of the underling asset classes.  The solution asset allocation is Strategic and builds risk graded portfolios by varying the percentage exposures of each portfolio to the various asset groups using an efficient frontier model. Relative weightings are kept constant by periodic rebalancing. The investment managers will not seek to actively manage the weightings in each asset class.