With growing competition in the financial industry, companies have had to provide unique products to remain relevant over the years. Highland Capital is no different. Since its inception in 1990, the company has grown to earn its reputation as the largest alternative credit manager worldwide. Mark Okada and James Dondero founded the firm starting as a joint venture while incorporating Protective Life Insurance into the business. The venture diversified and became a Protective Asset Manager in 3 years with the founding partners owning 40% and Protective Life Insurance holding the majority stake of 60%. 1997 marked the company’s big turnaround. The two partners bought Protective Life Insurance’s stake and formed Ranger Asset Management. 1998 gave life to Highland Capital Management after its name change from Ranger Asset Management. The company has grown its foothold in mutual fund business, commingled bank loan ventures, and alternative financing.
As an investments advisor, duly registered and with the combined efforts with its associates, the company manages over $15.4 billion. This investment chest has been growing thanks to the various products the company offers, ranging from long and short equities, credit hedge funds, long-only funds, special situation funds, collateral-backed loans and private equity. With such products, the firm attracts a client list that includes governments, fund of funds, financial institutions, corporations, trusts, foundations, pension plans as well as high-net-worth persons. The Dallas, Texas office is quite busy as it is the company’s command central. From these offices, the management is able to oversee operations in Sao Paolo, Singapore, Seoul and New York.
Other than its financial business, Highland Capital is heavily invested in community matters. Through its business model, the company’s employees have found volunteering rewarding and formed it as part of their corporate fabric. Together, they are active participants in an advisory capacity on boards, donation programs as well as offering sponsorship and financial aids to non-profit organizations whose agenda is community empowerment. The company together with its network of partnerships has committed over $10 million to fund this worthwhile endeavor. Goes a long way to show that such partnerships are what the world needs to make a change.
Highland Capital Management, a financial giant making its positive impact in the world.
Timothy Armour is standing behind Warren Buffett in his attempt to gain better returns on his investments than a group of hedge fund managers, and he is doing it by investing in the S&P 500 passive index fund, something most people say is impossible. Like Buffett, Tim Armour knows that it can be done and has the facts to back up Buffett’s claims.
The S&P is a low cost simple investment, but Mr. Buffett has been spending time investing from the bottom up, researching and analyzing companies so he can build a strong portfolio. This passive index investment strategy has its risks, it is volatile and unknown. It offers a way to invest at low costs, but requires much legwork. Being able to do better than the other investors during bad markets is one of the keys to growing a solid nest egg in the S&P.
Armour goes on to note that the average active fund has underperformed over meaningful lengths of time, but there are exceptions. In general, someone who invested $10,000 in the first S&P 500 index fund over 4 decades ago would have over $500,000 today. That is certainly a nice growth, but someone who invested the same amount in more active funds from American Funds would have gained considerably more money. Armour works for a firm that is 86 years old, combining their 18 equity funds, that amounts to about 653 years of investment experience. The Capital Group, Armour’s company, has averaged 1.47 percentage points annually above similar index benchmarks.
Armour currently serves as the Chairman, Director, and Principal Executive Officer for Capital Research and Management Company. He is also the Chairman and Equity Portfolio Manager for The Capital Group Companies, Inc. He began his career with a Bachelor’s Degree in Economics from Middlebury College before starting out in the professional world where he quickly climbed the corporate ladder. He has held board memberships with 3 companies, including AMCAP Fund.
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