Opportunistic Value Balanced
Background:
Knightsbridge was founded as an employee-owned, independent firm on July 1, 1998. The firm’s investment process is implemented through an Investment Committee. John Prichard, CFA, a firm founder and principal, serves as the firm’s Chief Investment Officer. Chad Neault, CFA, serves as Research Manager. The firm’s Investment Committee consists of John G. Prichard, CFA, Chad Neault, CFA, Dhawal Nagpal, PhD and Miles Yourman. This Committee participates in the firm’s ongoing ‘investment anomaly’ research efforts. Knightsbridge personnel commit personal and retirement capital to the same stocks as clients.
Equity Investment Philosophy & Process:
Knightsbridge strives to perform in all market and economic environments. The firm, in its emphasis on ‘absolute returns’, invests opportunistically without regard to index characteristics and, where permitted, at times uses cash as a defensive tool. Stock purchases, as the result of the presence of an investment anomaly and being out of favor, neglected, and/or controversial, are priced at a significant discount to historical company and peer group valuation levels. Portfolio holdings range across market capitalization. Stocks are purchased only when the firm believes an 80% to 100% investment return is probable over a three year holding period.
Fixed Income Investment Philosophy & Process:
We believe that our clients’ fixed income objectives are best met through purposeful active management with an emphasis on disciplined risk control and protection of capital.
We seek to opportunistically add value by investing based upon the relative attractiveness of all fixed income sectors and issuers, across the full spectrum of maturities. Interest rate fluctuation, bond market inefficiencies and special situations provide opportunities to add value. Credit analysis and security selection extend from our ongoing research and financial statement analysis. Where appropriate, investment returns are improved by taking advantage of discounts available with odd-lot market purchases.
Fixed income portfolios are tailored to each client’s objectives and include either tax-free or taxable bonds, depending upon the client’s tax position.
Composite Investment Performance as of 12/31/11
(Net of Fees, in %)
*50% S&P 500 Total Return/50% Citigroup Govt/Corp. 1-10 Yr Index
Knightsbridge Information
Composite Inception: January 1, 1996
Total Firm Assets: $952 Million
Number of Employees: 12
