How The Investment Policy Committee's Structure Benefits You

Transcript

The Investment Policy Committee is comprised of five members. The chairman of our firm, of course, Ken Fisher, Jeff Silk, Aaron Anderson, Bill Glasser and myself, Michael Hansen. 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, some 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's in our client mandates. What we don't focus on is 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. And 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 to, from creating and looking at stock ideas to actually monitoring over time and making sure that the reasons that we originally owned the 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 and 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.

Fisher Investments Australasia Pty Ltd, an Australian company (ABN 86 159 670 667) licensed in Australia (AFSL 433312) to provide services to wholesale clients only, uses the trade mark Fisher Investments® and, in New Zealand, operates as an overseas company (NZBN 9429052507656) using the trading name Fisher Investments New Zealand to provide services to wholesale investors only. Fisher Investments Australasia Pty Ltd outsources portfolio management to its parent company, Fisher Asset Management, LLC (AR 001292046), which is established in the US and regulated by the US Securities and Exchange Commission. Investing in equities and other financial products involves the risk of loss. Past performance is not indicative of future performance.

This information constitutes the general views of Fisher Investments Australasia Pty Ltd as of the date of this document and does not relate to a particular financial product. 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. 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.