Since 1986, Wurts & Associates has been helping institutional investors prudently invest. Today, we advise on more than $54 Billion in traditional non-discretionary client assets and nearly $20 Billion in discretionary ("OCIO") portfolio management, as of September 30th. Our client relationships include educational and charitable organizations, corporate and public benefit plans, health care and insurance institutions, multi-employer trusts and substantial net worth families.
More volatile markets, an increasingly global economy and the introduction of new and complicated financial instruments make the job of fulfilling fiduciary responsibilities much more challenging.
Valuation, Diversification, and the understanding of Risk serve as our three core fundamental Investment Principles. Valuation is important because the price an investor pays for an asset largely determines the outcome. We also believe in true diversification by economic regime and risk factors. Most institutional portfolios are not as diversified as one would be lead to believe as asset classes share common risks and the correlations between them tend to move towards one when the investor needs diversification the most. Understanding risk does not mean standard deviation or improving a portfolio's Sharpe ratio, risk to us is minimizing portfolio drawdowns or failing to reach the portfolio's liability and objectives. These Investment Principals are surrounded with Humility, as we do not believe "we know the future". Our perspective about risk and diversification allows us to play "defense" and protect portfolios against unforeseeable events while our valuation principle arms us to play "offense" through the implementation of opportunistic investment ideas.
The quality of our people, the principled nature of our culture, the thoughtfulness of our research and determination to best serve our clients are some of Wurts & Associates' most distinguishing characteristics. We continue to be driven by the same values William Wurts established in 1986; to remain independent, research driven, and client-focused. We are proud of our heritage and look forward to the future of empowering clients with the thoughtful and innovative advice they have come to expect.