Global Total Return
Fisher Investments' global equity strategies utilize a top-down investment process based on a broad analysis of economic, political, and sentiment drivers to formulate forecasts and develop portfolio themes. These investment strategies exploit the structure of global markets and capitalize on country, sector, and industry cycles as they come in and out of favor. Additionally, in order to maximize the possibility of leveraging top-down themes and identify unintended risk concentrations in the security selection process, the Investment Policy Committee applies risk management controls based on an analysis of prospective stocks to assess their correlations to various countries and sectors.
The goal of our Global Total Return strategy is to outperform its benchmark in any market environment. To accomplish this, we utilize a top-down investment process that focuses on the most important determinants of portfolio return: countries, sectors and stocks.
Strategy benefits include:
- An innovative investment process accounting for country, sector and stock decisions
- Excess return in a variety of market environments
- A top-down process complementing a multi-manager structure, increasing diversification benefits
INVESTMENT PROCESS AND PORTFOLIO ENGINEERING
Our Global Total Return strategy seeks to add value at the security level, but we believe traditional individual security research is most effective when used to complement higher-level portfolio themes. The strategies alpha is approximately evenly divided between our country, sector and stock decisions.
- Top-down process focuses on the most important determinants of portfolio return
- Economic, political and sentiment drivers shape portfolio themes
- Combination of quantitative and fundamental research
- Security selection levered to themes
- Disciplined portfolio management process
- Active risk management
Investment Process-Top-Down
