Institutional Investors

Trust Advisory Group (TAG)

As Callan's asset management division, the Trust Advisory Group (TAG) specializes in the design, implementation, and ongoing management of multi-manager portfolios. All of TAG’s efforts are an extension of our traditional consulting work as part of the firm's Fund Sponsor Consulting group.

Utilizing Callan’s scale, experience, and resources, TAG applies a process-driven approach to building and maintaining efficient, low-cost multi-manager portfolios on behalf of institutional investors. All portfolios managed by TAG have three common attributes we believe are critical to the success of any multi-manager portfolio: Top-down design, robust process, and operational efficiency.

Our mandates include:

  • Callan’s Diversified Alpha Small Cap Equity and Micro Cap Value funds
  • The Callan GlidePath® Funds target date funds
  • The Callan Multi Manager Core asset class funds
  • The KP Retirement Path target date funds

Callan GlidePath® Funds

The Callan GlidePath Funds is a series of diversified investment funds or target maturity/target date funds, designed as a “single-investment” solution for participants of defined contribution plans. By automatically adjusting their asset allocation to become more conservative over time, these funds are designed to achieve the appropriate level of risk for each stage of a participant's life.

GlidePath Objectives:

  • Provide investors with efficient, diversified exposure to the key asset classes employed by large retirement plans
  • Automatically adjust the asset allocation of each fund to achieve an appropriate level of risk for each stage of a participant's life
  • Build a high-caliber team of institutional portfolio managers with a diverse set of views and a broad range of perspectives on the markets
  • Focus on fees and costs, employing a sensible blend of active and passive strategies, while working to keep fund expenses as low as possible

$2.4 billion: Total assets in the Callan GlidePath Funds*

Discretionary Services

Callan's full service discretionary model was developed for clients who wish to partially or fully delegate their investment functions. Under this model, an institution can shift varying degrees of discretionary authority to Callan to manage investment or operational functions traditionally performed by an investment committee or investment staff. Callan's discretionary model is a natural extension of our traditional consulting practice, and has the same emphasis on a customized, long-term strategic approach. Callan can take discretion over the entire portfolio (under what is often referred to as the “Outsourced CIO” or OCIO approach), or we can focus on just a portion of the portfolio. Callan’s consulting team works with each client to find the right blend of services to best meet their long-term investment needs.

$24.2 billion: Total discretionary assets*

Multi-Manager Funds

Utilizing Callan’s scale, experience, and research resources, TAG applies a process-driven approach to building efficient, low-cost mixes of multi-manager funds with clearly articulated goals and objectives.

The sub-advisors within our multi-manager funds are selected based on rigorous evaluation, including a thorough review by Callan’s Global Manager Research Group, and the specific fund’s investment committee. Sub-advisors have authority over, and act as fiduciaries with respect to all security level decisions.

Diversified Alpha Small Cap Equity Fund

The Callan Diversified Alpha Small Cap Equity Fund is designed to help meet challenges such as limited capacity, high tracking error, and institutional hiring criteria. We have $477.5 million* in AUM in the fund.

Micro Cap Value Fund

The Callan Micro Cap Value Fund facilitates a platform from which more focused portfolios that use best-in-class sub-advisors can be created. The scale of the flagship fund creates efficiencies in terms of sub-advisory fees and operational expenses. We have $176.8 million* in AUM in the fund.

*Data as of 9/30/19.

Looking for more information? Contact J.J. Milder at