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Fisher Investments' Investment Approach
At Fisher Investments, we use a top-down approach for Global Total Return oriented portfolios. We begin with asset allocation decisions, determining how much to allocate between stocks, bonds and cash – given each client’s unique situation. We then move on to the sub-asset allocation decisions, weighting various countries, sectors and styles based on our view of which are likely to under- or outperform. Finally, once the asset allocation and sub-asset allocation weights have been determined, we move to individual security selection.
We believe 70% of the portfolio’s performance can be attributed to asset allocations decisions and about 20% to sub-asset allocation decisions (countries, sectors, styles). The remaining 10% of value comes from individual security selection.
Fisher Investments Decision Making
Investment decisions are made by Ken Fisher along with two additional members of the Investment Policy Committee, Jeff Silk and Andrew Teufel, a team with more than 75 years combined investment industry experience. The Investment Policy Committee oversees and works with the research department to analyze of a wide range of economic, political, market and sentiment drivers to formulate forecasts. Portfolio themes are then developed and implemented across client portfolios.
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