You are a private adviser for which and you are being asked to invest 1000000 euros on behalf of a client(individual or institutional investor). Build a portfolio which most be composed solely of securities(Explain the hedging strategies used towards this portfolio).To do this you must follow the following requirements

1.Define your customer profile

2. Define your adequate investment strategy(The Active approach, The Passive approach, Top Down approach, Bottom up approach)

3. Define the portfolio objective

4. The investment policies(strategic allocation)

5.The choice and justification of the benchmark

6.The ways the fees would be calculated

7. A trial portfolio based on the team investment guidelines

8. A brief evaluation on each of the equity securities

At this initial phase, you are to limit the number of equity securities purchases to five only.