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Fisher Investments UK: Background

Over three decades ago Ken Fisher, Chairman of Fisher Investments UK, began his investment management career based on a fundamental belief in capitalism and how free capital markets function. Ken Fisher’s father, Philip Fisher, founded Fisher & Co. as an investment counselling business in California in 1931. Rarely giving interviews, little known to the public and accepting few clients, Philip Fisher is still widely admired and respected as one of the pioneers of modern investment theory. His investment philosophies, introduced over forty years ago, are still studied and applied by today's investment professionals. He recorded them in Common Stocks and Uncommon Profits, a book first published in 1958 which still remains in print today, and is considered an investment classic. Ken Fisher received his early training within his father's firm, which led to the subsequent founding of Fisher Investments in 1979 as a sole proprietorship (the firm was later incorporated in California in 1986 and reorganized as a limited liability company in 2005). The firm continues to be known as Fisher Investments. Fisher Investments has continued to develop capital markets technologies for the primary purpose of providing excess return relative to benchmarks. In the early 1980s, Ken Fisher pioneered the use of the Price to Sales Ratio and detailed its relevance as a tool for investment analysis in his influential book, Super Stocks, a Dow Jones best seller. Now a common tool in financial analysis, this technique is still used to help manage Small Cap portfolios for Fisher Investments' institutional clients.

Since 1986, Fisher Investments has been a pioneer in effective Small Cap Value equity management. It has since broadened into a full-scale investment management firm with an array of strategies oriented toward specific styles. In the early 1990s, Fisher Investments contributed to the recognition of distinct investment styles and cycles and used these advancements as the foundation for a new series of broad mandate strategies: Global Total Return, US Total Return and International Equity.

In 1995, Fisher Investments began offering global investment management services directly to high net worth individual investors via the US Private Client Group. Fisher Investments UK was established in the UK in 2000 as a wholly-owned subsidiary of Fisher Investments.

Fisher Investments' more recent focus has been on the emerging field of behavioural finance and understanding not just the tools of finance, but also how investors use these tools. Ken Fisher's research has led to the development of practical applications of behavioural finance that currently play an active role in its Fisher Investment Management process , thus continuing the tradition of innovation in developing new capital market technology.1

Ken's research has been published in numerous financial journals, including The Financial Analysts Journal and The Journal of Portfolio Management. In 1984 Ken began writing the "Portfolio Strategy" column for Forbes magazine, making him the longest continuously running author in Forbes’ history, and offering his market perspective to the general reader.

1Capital markets technology is a term Fisher Investments uses to describe the practical application of analysing data to uncover trends or patterns that other haven't.