How The Investment Policy Committee's Structure Benefits You

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How the Investment Policy Committee’s Structure Benefits You

FISHER INVESTMENTS AUSTRALIA ®

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A man dressed in a navy blue suit appears. A fly-out in the lower right corner identifies him as Michael Hanson, Senior Vice President, Research.

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Michael Hanson: The Investment Policy Committee is comprised of five members. The Chairman of our firm, of course, Ken Fisher, Jeff Silk, Aaron Anderson, Bill Glaser and myself, Michael Hanson.

Michael Hanson (continues): I think the Investment Policy Committee is very unique, relative to the rest of the industry, for a variety of ways. One of the things that I think is so important to Ken in starting the Private Client Group, now so many years ago, was that how can we give our clients access to world-class money management but in a competitive way and in a way that’s truly appropriate for our customer?

We have a five-member group that is solely focused on portfolios and what is in our client mandates. What we don’t focus on are things like sales, administrative duties, and even to some extent service–although we’re out speaking to our clients very frequently. Our sole responsibility is the portfolios and we’ve specialized the rest of the tasks of this business to others. That alone I think is very unique because in most circumstances in this industry, most advisors have to do the selling, the service, and the trading and strategy all at once—which we simply don’t view as optimal.

We have an entire Research staff that assists us in every facet of the process. And so, we have an entire group, which we refer to as our Capital Markets Innovation Group, which is dedicated to statistical analysis and doing empirical work across the world to help us develop ideas and themes but in a very rigorous way.

We have a Securities team that assists us in stock selection—all the way on through from creating and looking at stock ideas, to actually monitoring over time and making sure that the reasons that we originally owned a stock remain consistent.

And lastly, we have a Capital Markets Group, which is sort of our macro analysis, and they assist us with fundamental views about how the world works today and help us generate investing themes. What unifies us is that we have very similar outlooks on the world in a similar investing philosophy. We don’t always agree with each other but that’s part of the process of the committee is to work out what we think the best step is moving forward and what unifies us is a philosophy about how the world might work.

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FISHER INVESTMENTS AUSTRALIA®

Fisher Investments Australia® is a trademark of Fisher Investments Australasia Pty Ltd (ABN 86 159 670 667, AFSL 433312), which provides services to wholesale clients only and outsources portfolio management to its parent company, Fisher Asset Management, LLC (AR 001292046), which does business in the United States as Fisher Investments. Investing in equities and other financial products involves the risk of loss. Past performance is not indicative of future performance.  This document constitutes the general views of Fisher Investments Australia as of the date of this document. These views do not take into account individual financial situations, needs or objectives and should not be regarded as personal investment advice. No assurances are made we will continue to hold these views, which may change at any time based on new information, analysis or reconsideration. In addition, no assurances are made regarding the accuracy of any forecast or other forward looking statement made herein.

Forecasts are based on current expectations and beliefs involving risks, uncertainties, assumptions, and judgments that are difficult to accurately predict and may prove inaccurate. Forecasts and any past performance information are not an indicator of future performance and should not be relied upon. Actual outcomes may be materially different. There can be no assurances that investment returns from a particular strategy or allocation will exceed returns from another strategy or allocation. Any commentary regarding strategy or performance reflects our Global Total Return strategy that is benchmarked to the MSCI World Index. Given different objectives and circumstances, clients may have different benchmarks and client accounts may not contain all elements of any strategy discussed here. Individual financial products, including fixed interest products and derivatives, and investing in different markets, carry unique risks. Any references to a particular tax treatment depends on the individual circumstances of each client and may be subject to change in the future.

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