During these tumultuous times, it is important to follow a disciplined approached to asset management. Goelzer adheres to a proven investment process and philosophy. As such, we believe in the practice of maintaining a high level of diversification, and that not only is it important to diversify among individual companies and industry sectors, but equally important to diversify among different asset classes. We also believe that the investment markets are generally efficient; however, many investors make decisions based on emotions rather than thoughtful analysis. The emotional nature of investing creates temporary inefficiencies and opportunities. Long-term investment returns can be enhanced and risk reduced through the use of tactical asset allocation—making changes in the amounts invested within the different asset classes based on relative valuations.
We also adhere to the belief that active management can result in long-term returns that exceed those of market indices, but only when employed within the context of a disciplined research process that evaluates both quantitative and qualitative aspects of money management. It is our practice to fulfill the fiduciary responsibility for prudent investment management while striving to maximize investment returns within a defined level of risk, as stated in your Personal Investment Plan, thus preserving the long-term value of your investment assets.
As we have emphasized over the year, during these volatile times, it is more important than ever to maintain an investment discipline and strategy. While the short term is always unpredictable, we are confident that our philosophy and discipline will continue to produce rewarding long-term results. Again, we greatly appreciate the confidence and trust you have placed in us.
As always, should you have any questions about the enclosed report or require additional information, please do not hesitate to give Sherri or me a call. You can reach Sherri directly at (317) 264-2618, sgrabhorn@goelzerinc.com or, if outside the Indianapolis calling area, (800) 428-1618.
Sincerely,
GOELZER INVESTMENT MANAGEMENT, INC.
Brett D. McKamey, CFA