Investment Process

Our philosophical commitment to a top-down investment approach is a key advantage. Our process begins with a focus on macro decisions at the country and sector/industry level, which can have a disproportionate impact on returns. We believe our process is uniquely suited for managing global portfolios, in contrast with the “bottom-up” approaches of many competitors who may leave key sector or country decisions as passive residuals. By actively managing these crucial higher-level decisions, we feel our process allows us to exploit a greater opportunity set for generating outperformance relative to other approaches. Further, our security selection is specifically designed to leverage our top-down process, directly applying high-level themes from our macro analysis in our security analysis and selection. The same investment process has been consistently applied in various strategies since inception by the firm’s IPC with excess return over the respective benchmarks in a variety of market conditions.

Top-Down Process

Fisher Investments' top-down investment process begins with a focus on macro decisions at the country and sector/industry level. By actively managing crucial higher-level decisions, we feel our top-down process allows us to actively exploit a greater opportunity set for generating outperformance.

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Security Selection

Fisher Investments' security selection process is specifically designed to leverage our top-down process, directly applying high-level themes from our macro analysis in our security analysis and selection.

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ESG Investing

Fisher Investments considers environmental, social and governance issues in the investment and portfolio construction process. Further, we regularly screen and tailor our investment approach for separately managed accounts depending on any particular social and environmental guideline mandated by the client.

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About Fisher Investments

Founded in 1979, Fisher Investments is an independent, fee-only investment adviser with $105 billion under management.* Fisher Investments maintains four principal business units, Fisher Investments Institutional Group, Fisher Investments Private Client Group, Fisher Investments 401(k) Solutions Group and Fisher Investments International Group, which serve a global client base of diverse investors. The clients of Fisher Investments and its affiliates include over 175 large institutions and over 50,000 high net worth individuals. Founder and Executive Chairman Ken Fisher’s “Portfolio Strategy” column for Forbes ran from 1984 through 2016, making him the longest continually running columnist in the magazine’s 90+ year history. He has also authored several New York Times bestsellers on finance and investing. (*As of 9/30/2018. Includes Fisher Investments and its subsidiaries.)