A. Description of the Advisory Firm
Siharum Advisors, LLC (“Siharum” or “Advisor”), founded on May 30, 2008, is a
privately-owned investment adviser registered with the U.S. Securities and Exchange
Commission. The firm is organized as a Delaware Limited Liability Company. The
firm’s CEO, President, and majority owner, Bala Cumaresan, has primary responsibility
for the investment and business activities of the firm. He also serves as the Chief
Compliance Officer and oversees the compliance and controls infrastructure of the firm.
The firm has in place an elected Board of Directors that is responsible for the overall
corporate governance of the firm.
B. Types of Advisory Services
Siharum offers investment advisory services on either a discretionary or consulting basis
to high-net-worth individuals, pension and profit-sharing plans, trusts, estates and
charitable organizations. Client relationship asset levels generally range between $1M
and $100M. Investment advisory services to client securities accounts (“Portfolios”) are
provided pursuant to a written investment advisory agreement (“Agreement”).
Investment Philosophy and Process
At the core of Siharum’s approach is its “open-architecture” framework and third-party
investment manager evaluation, selection and on-going monitoring. Under Siharum’s
own Manager First® approach, the process starts with the identification of high-quality
managers irrespective of asset class or style categorization. Actively managed or passive
(index) products offered by these managers are then selectively combined to create a
holistic portfolio that is customized to the specific investment objectives of the client and
thoughtfully diversified across multiple dimensions such as asset classes, liquidity
profiles, regions, investment styles and underlying portfolio compositions. This
philosophy applies to both discretionary and consulting clients.
1. Investment Consulting
Under this type of relationship, Siharum is engaged to review and provide on-
going investment advice and recommendations in accordance with its overall
firm philosophy and based on the client’s return and risk objectives and service
requirements as documented in a written Agreement. This is a customized
service that is offered to clients with Portfolio assets typically in excess of $20
million. Siharum does not have the discretion to make changes to the client
Portfolios under these arrangements, unless express written consent and
authorization is provided by the client for each transaction.
2. Discretionary Investment Management
These arrangements
are typically for clients with Portfolio assets in the
$2.5 million to $20 million range. Here, Siharum is provided with trading
discretion pursuant to written authorization from the client. The client’s Portfolio
is managed, serviced, and monitored on an on-going basis pursuant to a written
Agreement. This Agreement includes a customized Statement of Investment
Objectives which documents the client’s investment objectives, risk tolerances,
time horizon/liquidity profile and tax considerations.
Services Limited to Specific Types of Investments
Siharum typically invests client assets with third-party investment managers whose
investment products include comingled investment vehicles such as mutual funds,
exchange traded funds (“ETFs”), REITs, hedge funds, private equity funds, other pooled
funds, and limited partnerships. Client assets may also be invested in third-party
investment manager separately managed accounts (which may invest in a variety of
equity, fixed income, and derivative securities.)
Siharum may, on a limited basis, use other types of instruments to properly diversify a
Portfolio.
Other Services
In limited cases, Siharum or a principal of Siharum may also agree to act as a trustee to a
client, which is a trust, or to a trust affiliated with a client.
C. Client Tailored Services and Client Imposed Restrictions
Siharum’s investment philosophy applies to all its clients, however, client specific profiles
and/or restrictions are used to construct a customized investment program which will
guide the selection of Portfolio investments or Portfolio recommendations.
Clients may request that Siharum limit investments of certain securities or types of
securities in accordance with their values or beliefs or for other reasons. Any such
restrictions must be discussed, documented, and agreed to in writing by Siharum. If the
proposed restrictions would, in the sole opinion of Siharum, prevent the firm from
properly servicing the client, or properly investing the Portfolio, or if the restrictions
would require Siharum to deviate significantly from its standard suite of services,
Siharum reserves the right to decline the requested restrictions.
D. Wrap Fee Programs
Siharum does not sponsor or participate in any wrap fee programs.
E. Advisory Assets
Siharum had assets under advisory totaling $560,561,199 as of December 31, 2023.
Discretionary
Investment
Management
Assets:
Investment Consulting
Assets:
Valuation Date:
$409,542,111 $151,019,088 12/31/2023