Fort Pitt Capital Group applies a value-conscious investment philosophy and a sound, time-tested process. Our seasoned team and solid infrastructure have made us a trusted investment partner for businesses and institutions since our founding in 1995.
We offer two solutions: an asset allocation strategy utilizing a multi-manager approach, or – for institutions seeking an equity-only portfolio – the Total Return strategy.
Our Total Return Investment Philosophy: Value-Conscious
Fort Pitt Capital Group seeks to preserve capital in down markets and participate sufficiently in rising market cycles to produce net returns that beat equity market averages over full market cycles.
Our investment philosophy is to buy well-run businesses at reasonable prices and hold them for at least five years. We generally invest in companies with a stable or growing Return on Equity (ROE). We believe that even the best business can sell at a price that makes it a bad investment, so we wait, if necessary, until we can buy it at the right price.
By design, our portfolio does not resemble the S&P 500 Index – thus, it also performs differently. We strive to preserve capital during market declines to offset moderate underperformance during strong, momentum-driven markets, with the objective of outperforming over a full market cycle. “Make less, keep more” is our mantra.
When it comes to risk, we believe the most important thing to consider is the probability of losing purchasing power over time. In our view, volatility is not the only measure of risk.
We’ve been managing assets this way since our firm’s inception, and Charlie Smith, our Chief Investment Officer, has been applying a similar strategy since 1983.
401k Plans: Whether your plan numbers a handful of participants or hundreds, we provide experienced management. Depending on your needs, we can offer consulting services on the development of your investment policy statement and the selection of individual plan options, or a turnkey solution including separate account management. We believe our unbundled approach offers plan sponsors tremendous flexibility, and all costs are transparent and fully disclosed.
Pension Plans: Whether for profit or non-profit, we manage plans of any size. As with defined contribution plans, we work with the plan sponsor to implement an investment policy statement, construct an appropriate portfolio, manage cash flows, and monitor performance. We work with a number of actuarial firms to ensure prompt reporting that is delivered in an unbundled manner.
Not-for-Profits, Foundations and Endowments: As an administrator of these plans, you must consider your legal obligations when making investment decisions. Our experienced advisors are here to share the burden and help you make the best investment decisions, striking the balance between spending policies and prudent growth of principal.