Fisher Investments’ Background
Fisher Investments’ Background
Ken Fisher founded Fisher
Investments as a sole proprietorship in 1979, acting on his fundamental belief
in capitalism. Since inception, Fisher Investments has made significant
contributions to several areas of investment management through its original research
and development of capital markets technology.
In the 1970s, Ken Fisher pioneered
the use of the Price-to-Sales Ratio and detailed its relevance as a tool for
investment analysis. Later, this tool was used to help manage small
capitalization portfolios for institutional investors. In the mid-1980s, the
firm contributed to the delineation of the small cap value equity asset class
and explained its relevance to investors.
In 1984, Ken Fisher began writing
the monthly “Portfolio Strategy” column for Forbes magazine. His
prestigious Forbes “Portfolio Strategy” column ran from 1984 to 2017, making
Ken the longest continuously running columnist in the magazine’s history. He
continues to write regular columns for the UK’s Financial Times and Germany’s
Focus Money. Ken has written 11 books, including four New York Times
In the early 1990s, Fisher
Investments contributed to the recognition of distinct investment styles and
cycles and conducted proprietary research aimed at identifying the drivers of
these cycles. These advancements became the foundation for a series of broad
equity mandate strategies: Global Total Return, US Total Return and Foreign
Later that decade, the firm began
making significant developments in the emerging field of behavioral finance by
researching its practical application in the portfolio management process.
In 1995, Fisher Investments began offering
global equity management directly to high net worth individuals via the Fisher
Investments Private Client Group. In early 2000, the firm expanded its service
offerings to investors in both Canada and the United Kingdom. In 2007, the firm
entered into a joint venture partnership through its joint venture affiliate
(now a wholly owned subsidiary), Grüner Fisher Investments GmbH, which serves
investors in Germany.
Fisher Investments Structure
Fisher Investments manages assets across four principal business units – Fisher Investments Institutional Group (FIIG), Fisher Investments Private Client Group (FIPCG), Foreign Private Client Group (FPCG), and Fisher Investments 401(k) Solutions Group (401(k) Solutions). Together, these groups serve a global client base of diverse investors including corporate, public and multi-employer pension funds, foundations and endowments, insurance companies, healthcare organizations, governments and high net worth individuals.
While some key functions serve both business units, such as research, trading and investment operations, other functions are specialized, including private client acquisitions, private client services, and institutional, to name a few. Each business function is overseen by an Executive Vice President, who is responsible for ensuring the ultimate success of the business unit.
Together, Ken Fisher, Jeff Silk, Bill Glaser, and Aaron Anderson make up the Investment Policy Committee (IPC) at Fisher Investments. The IPC, directly supported by Fisher Investments' dedicated team of research analysts, makes strategic investment decisions for both institutional and private client portfolios.
Within the Fisher Investments Institutional Group, the client service and marketing roles are carried out by the firm's Portfolio Specialists, who serve as liaison between the IPC and our institutional clients and consultants. Their principle functions include servicing institutional clients and marketing to consultants and plan sponsors. The Portfolio Specialist role encompasses a variety of responsibilities including communicating portfolio strategy, market outlook, and performance. Additionally, Portfolio Specialists work with institutional clients and the Research Department to conduct independent research projects.