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While there are many complex concepts of money management, FCA seeks simplicity. Returns of the capital markets can not be “created”; they can only be “captured” through time. Attempts to “create” returns involve inherent unacceptable risks.
We seek to protect the capital and purchasing power of the portfolios first by “outperforming on the downside” while capturing as much as possible of the “upside” as markets rise. Losses have a greater effect and can harm a portfolio far more than gains benefit it. Our view is that no investment management style exists that historically outperforms on both the “upside” and “downside”.
We fully recognize income streams and credit worthiness of fixed income instruments are steadying influences on portfolios through time. Fixed income represents an integral part of most of our portfolios. This fixed income investment philosophy compliments our long-term horizon view of the markets.
We do not invest in comparison to any specific benchmark.
Equity exposure is from a core of planned index type investments enhanced by selected equities determined to be of particular interest. The result is intended to be a portfolio representative of the various marketplaces available domestically and internationally. We believe in the long term growth of both the domestic and international economies and attempt to benefit from that growth in a manner that provides returns in keeping with the implicit risks.
FCA’s management of three internationally-based mutual funds provides our firm with a unique observance of foreign economies so important to diversified investment in today’s marketplace.
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