- Institutional Strategies
- FOCUS Equity
- Request Performance
- Individual Strategies
- FOCUS Equity
- FOCUS Balanced
- FOCUS Income
- Financial Services
- Financial Planning
- Estate Planning
FOCUS Equity Institutional Investment Strategy
The FOCUS Equity Portfolio is primarily invested in mid-cap stocks. Spence Asset Management’s approach is historical and multi-disciplinary. Our decision making borrows from the greatest asset managers in investment history: Benjamin Graham, Phil Fisher, Warren Buffett, Peter Lynch, and Charles Munger.
We do not seek diversification in the FOCUS Equity Portfolio. FOCUS Portfolio holdings purposely concentrate investments in what we think are the very best businesses. We believe that watering down our very best positions with mediocre opportunities for the sake of extremely broad diversification can only damage our relative performance over time. We understand that a concentrated strategy does not come without risk, but we believe that benefits of a concentrated portfolio outweigh any possible disadvantages. We will only consider shares of companies that can pass a rigid examination of their business applying twelve specific principles we have developed.
In FOCUS Equity Portfolios we seek long-term ownership of DOMINANT companies with business characteristics most conducive to investment success. Our goal is to minimize trading. However, the fact that the world is constantly changing and sometimes changing very quickly makes some trading essential to success.
Request Performance Institutional Investment Strategy
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FOCUS Equity Individual Investment Strategy
The FOCUS Equity Portfolio is primarily invested in mid-cap stocks. Spence Asset Management’s approach is historical and multi-disciplinary. Our decision making borrows from the greatest asset managers in investment history: Benjamin Graham, Phil Fisher, Warren Buffett, Peter Lynch, and Charles Munger.
We do not seek diversification in the FOCUS Equity Portfolio. FOCUS Portfolio holdings purposely concentrate investments in what we think are the very best businesses. We believe that watering down our very best positions with mediocre opportunities for the sake of extremely broad diversification can only damage our relative performance over time. We understand that a concentrated strategy does not come without risk, but we believe that benefits of a concentrated portfolio outweigh any possible disadvantages. We will only consider shares of companies that can pass a rigid examination of their business applying twelve specific principles we have developed.
In FOCUS Equity Portfolios we seek long-term ownership of DOMINANT companies with business characteristics most conducive to investment success. Our goal is to minimize trading. However, the fact that the world is constantly changing and sometimes changing very quickly makes some trading essential to success.
FOCUS Balanced Individual Investment Strategy
The FOCUS Balanced Portfolio seeks to maximize long-term capital appreciation and provided income through the use of a fully customizable equity and fixed income portfolio.
The equity allocation is concentrated in predominately common stocks traded on U.S. based exchanges. It seeks investments across all sectors and market capitalizations however, we will not compromise our investment philosophy to diversify holdings. In pursuit of the investment objective, our investment team applies twelve quantitative and qualitative principles that help identify value, which we define as great businesses that can be purchased at fair prices.
The fixed income allocation is further customizable according to your tax circumstances. It is concentrated predominately in U.S. Treasuries, U.S. Government-Backed Agencies and High-Grade U.S. Municipal Bonds. It emphasizes capital preservation over yield by limiting credit risk. In pursuit of this investment objective, our investment team analyzes the issuers underlying ability to repay its obligations, the characteristics of the individual security and compare it with like securities looking for value.
The primary objective of the FOCUS Balanced Portfolio is to build an account based upon specific client objectives. Investment objectives are based upon each clients risk tolerance and investment time horizon.
FOCUS Income Individual Investment Strategy
The FOCUS Income Portfolio investment team believes the income producing allocation in a portfolio serves to reduce overall risk, not to add to it. We believe capital preservation is of utmost importance and takes precedence over yield.
We attempt to preserve capital by limiting credit risk and purchasing securities offered by the U.S. Government, agencies with explicit guarantees from the U.S. Government and municipal issuers. However, not every municipal issuer fits our strategy. We prefer large metropolitan areas and securities that are under the issuers’ general obligation to repay.
Our strategy is premised on holding the securities to maturity to lower the uncertainty of price fluctuations. We think an essential element of risk management is saying “no” at the beginning.
Financial Planning Financial Service
Spence Asset Management provides financial planning services to clients either in specific areas of need such as retirement planning, education planning, specific goal achievement or in-depth financial planning for life goals. The process includes establishing the client-planner relationship, gathering data including goals, analyzing and evaluating the client’s financial status, developing and presenting financial planning recommendations, implementing those recommendations and finally monitoring the financial plan and modifying as needed. The planner-client relationship is generally long term in nature and requires periodic reviews and meetings to ensure the plan’s goals are being achieved.
Estate Planning Financial Service
Spence Asset Management provides estate planning advice and services to clients to help assure the client’s assets will be managed for their family and loved ones as they intended. We coordinate key aspects of estate planning with other professionals in areas such as establishing wills, appropriate trusts, tax planning, determining liquidity needs, analyzing and recommending insurance programs, charitable giving, gifting and gift tax and transfers of assets. The estate planning process is similar to financial planning in that there needs to be continual long-term monitoring to ensure adjustments are made as life changes occur.