The growth engine — listed companies held across developed and emerging markets.
Illustrative riskHigher risk
LowerHigher
Wealth & investment management
Invest with intention.
Ledger builds and manages long-term investment portfolios for individuals, founders and families. We set a mandate with you, construct a diversified allocation around it, and review it with discipline — in plain language, with published fees.
- Established
- 2011
- Client mandates
- 310
- Rebalance cadence
- Quarterly
The premise
Most portfolios do not fail because of a bad quarter. They fail because nobody wrote down what the money was for.
We start with the mandate, not the market. What the capital must do, when it will be needed, and how much variability you can live with in the meantime. Everything downstream — the asset mix, the rebalancing rule, the review calendar — follows from that document.
The result is a portfolio you can hold through a difficult year, because you decided in advance what a difficult year would mean.
Portfolio construction
One illustrative allocation, fully explained
A representative balanced mandate. Every weight below is fictional demo content, shown to illustrate how we document a portfolio rather than to describe any real account.
- Global Equities
- Developed and emerging listed companies held for compounding.
- Fixed Income
- Government and investment-grade credit for ballast and income.
- Private Markets
- Long-horizon capital where illiquidity is genuinely compensated.
- Real Assets
- Property, infrastructure and commodities as an inflation hedge.
- Cash
- Liquidity for commitments, rebalancing and patience.
- Total
- 100%
The firm in figures
Measured, not marketed
Figures on this template are illustrative and exist to demonstrate layout.
$2.4B
Illustrative assets advised
Demo figure
18
Years of combined experience
Across the team
94%
Illustrative long-term client retention
Demo figure
0.65%
Illustrative annual advisory fee
Published, all-in
Figures shown are fictional and exist to demonstrate this template's layout. They do not represent real assets, real clients or any performance record.
Investment philosophy
Four convictions we do not trade away
They are unremarkable on purpose. Durable investing is mostly the refusal to abandon simple ideas at inconvenient moments.
Yr 1Yr 4Yr 8Yr 12
- Time in the market
- Compounding is the only edge available to everyone. We structure portfolios so that staying invested is the easy decision, not the brave one.
- Genuine diversification
- Owning forty positions that fall together is not diversification. We diversify across the things that actually drive returns: growth, rates, inflation and liquidity.
- Cost discipline
- Fees are the one variable we control with certainty. We use low-cost implementation wherever an active decision cannot be justified in writing.
- Written decisions
- Every allocation change is recorded with its reasoning before the trade. It makes us slower, and it makes us honest at review time.
Strategies
Five building blocks
Mandates are assembled from a small set of well-understood components. Each is documented with its purpose, its philosophy and its risk.
Ballast and income — government and investment-grade credit with defined duration.
Illustrative riskLower to moderate risk
LowerHigher
Long-horizon capital where illiquidity is genuinely compensated.
Illustrative riskHighest risk
LowerHigher
Insights
Notes from the investment desk
Short, practical writing on the decisions that actually move long-term outcomes.
Long-term investing4 min read
Patience is a position
Doing nothing is an active decision with a cost and a rationale. It deserves to be underwritten like any other.
Read
Diversification5 min read
The diversification you do not have
Thirty holdings can behave like one. Real diversification is measured in economic drivers, not line items.
Read
Market cycles5 min read
Reading a market cycle without predicting one
Naming the phase you are in is useful. Forecasting the next one is a different activity with a much worse record.
Read
The firm
A small team, deliberately
Ledger was founded in 2011 by four people who had spent their careers inside larger institutions and wanted to run money the way they would run their own.
We stay small so that the person who designs your mandate is the person who reviews it with you.
Marianne Okafor
Founding Partner, Chief Investment Officer
Tobias Lindqvist
Partner, Portfolio Construction
Priya Raman
Partner, Client Mandates
Callum Reid
Head of Research
Next step
A conversation before anything else
An introductory call is forty-five minutes, costs nothing and carries no obligation. We will tell you honestly if we are not the right firm for what you need.