Our Approach

Our focus is on asset allocation, i.e., the distribution of investment capital across broad market segments and fundamental risk factors. We manage our clients’ portfolios dynamically, with a focus on downside risk control.  Our goal is to maximize risk-adjusted returns over a 5-10 year horizon. The pillars of our approach are:  diversification, value-oriented investing, and efficient execution.

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Market Outlook & Strategy Letters

2011

  • Q4: Low-Volatility Equity Income Strategies
  • Q3: The US Equity Size and Value Premiums in Historical Perspective
  • Q2: Lessons in Portfolio Construction
  • Q1: Interconnected Risks: Commodities, Currencies, & Emerging Markets

If you wish to obtain copies of earlier letters, please contact us at info@kpfglobal.com

2010

  • Q4: The Bond Market Sell-Off Materializes | Understanding Portfolio Performance
  • Q3: The Case for Emerging Market Debt
  • Q2: Navigating Financial Market Volatility | Focus on Financial, Health Care and Tax Reforms
  • Q1: Anticipating a Stock Market Correction | Understanding and Managing Bond Market Risk

If you wish to obtain copies of earlier letters, please contact us at info@kpfglobal.com

2009

  • Q4: Strategies for hedging inflation risk
  • Q3: Why we are fully invested | Why we think the US $ will weaken
  • Q2: Headwinds to long-term growth | Focus on international real estate
  • Q1: Why we favor the emerging markets | Introducing the Vanguard GNMA

If you wish to obtain copies of earlier letters, please contact us at info@kpfglobal.com

2008

  • Q4: Opportunities in Corporate & Municipal Bonds | Introducing TIPS and DFA
  • Q3: Investing in a crisis: long-term perspectives

If you wish to obtain copies of earlier letters, please contact us at info@kpfglobal.com