Principal Investment Philosophy
Our equity investment philosophy is based on the premise that the most effective way to create and sustain wealth in the equity markets is to achieve an asymmetric pattern of returns over time, where the portfolio demonstrates a down market capture considerably less than its up market capture. We believe this combination of protection and participation should ultimately provide an opportunity for better than market performance over an economic cycle with less than market risk.
Coho Partners, Ltd. is headquartered in Berwyn, PA was founded in June 1999 and currently manages over $3 billion. As a registered investment advisor, Coho offers a single investment strategy through separately managed accounts and the Coho Relative Value Equity mutual fund. Coho Partners is 100% employee owned.
There are several features of our investment approach that we believe are distinctive and add value to the process:
- We identify a unique group of companies from a universe of 1,300 that exhibit an asymmetrical return pattern over a full market cycle - the "Coho 250".
- The proprietary Coho 250 is a highly selective, universe of companies that the adviser believes exhibit stable predictable growth, regardless of the underlying economic environment.
- Stocks outside of the Coho 250 are not considered for investment regardless of valuation or other investment characteristics.
- Coho's investment horizon does not obsess over quarterly nuance – we are long-term investors.
- Our portfolio managers are highly experienced with this universe having followed it through multiple economic cycles.
Click here to visit the Adviser's website.
Down Market Capture - A ratio is used to evaluate how well or poorly an investment manager performed relative to an index during periods when that index has dropped.
Up Market Capture - A ratio is used to evaluate how well an investment manager performed relative to how an index has risen.
Behind the Coho Name
Peter Thompson, founder of Coho Partners, Ltd., is an avid fly fisherman. He named the company after his favorite sport fish, the Coho salmon. The life of this species, particularly during its migration, demonstrates resoluteness in spite of adversity and peril. They are highly prized by anglers for their strength, tenacity, and fight. Our coat of arms is flanked by a pair of these trophy fish because they represents the rigor of our selection process and the vigorous attributes inherent in the companies that are carefully chosen for our portfolios. We are more interested in tenacity, endurance, and navigation skills, than pure speed.