The other half of the family office.

• Low-cost first. The cheapest credible ETF for each asset class. Compounded over decades, the management-expense ratio is the single largest controllable cost.
• No leverage on the passive side. Borrowing is for businesses Allure runs, not for index positions. The passive book exists to be boring.
• Tax-aware vehicles. Three structures — Family Trust (income flexibility), personal account (long-term capital gains), and SMSF (concessional retirement) — each holds the positions that suit it. Same investment philosophy, different tax envelopes.
• Rebalance, don't time. Allocations drift, we rebalance occasionally back toward target weights, we don't try to call the market.
• The percentages are the point. Dollar values move with the market; the structure is what tells you what kind of investor we are.

The passive book is, deliberately, the half of the family office that requires no operational attention. It exists so the active book can have full attention.