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may be accustomed to. Rather than merely diversifying with asset classes such as large-cap stocks, real estate investment trusts and high-yield bonds, USAA’s portfolio managers diversify across risk factors as well.
That’s an important distinction, because investments that are seemingly quite different can be vulnerable to the same risks. For example, both a long-term bond and a high-dividend stock can be negatively affected by rising interest rates. “We continually monitor our portfolios to help guard against excessive exposure to any single risk factor,” says Latif.
The investing team brings the same rigor to selecting individual securities. “A real understanding of an investment’s value requires more than just a cursory glance at fi nancial statements and earnings estimates. To create the kinds of critical insights we need, we rely on intense research,” says Matt Freund, senior vice president of Investment Portfolio Management.
Diversifi cation does not guarantee a profi t or prevent a loss.
People: Expertise and experience
The people who bring USAA’s investment philosophy and process to life are a diverse group of professionals made up of home-grown talent and others who joined the company after demonstrating success elsewhere in the industry.
“From the perspective of both experience and expertise, we’ve really put together an impressive array of talent,” says John Toohey, vice president of Equity Investments.
While some investment fi rms are carved into independently operating organizations that serve different groups of investors, USAA takes a different approach. “Rather than splitting our expertise into silos that may stifl e communication, we collaborate across the investment spectrum, which means our best thinking and deep experience is applied to all our portfolios, not just a select few,” says Toohey.
Past performance is no guarantee of future results.
Offering products to address market conditions
In addition to a historical performance record, USAA creates innovative investment choices to serve member needs.
Suitably, for an organization designed to serve the needs of military families, many of USAA’s investment professionals have military backgrounds themselves. “I think that’s helpful from two perspectives: Military experience promotes a disciplined approach to investing, and having veterans on the team fosters an organization-wide understanding of the members we serve,” says Bernie Williams, vice president of USAA Private Investment Management and a 1977 United States Naval Academy graduate.
“When I joined the company in late 2009, I quickly realized that USAA’s mutual funds were one of the best-kept secrets in the industry. Our unique approach to managing the funds and the innovative nature of the team positions us to compete head to head with some of the biggest names in the investment industry,” says McNamara. “We’re hitting our stride and the best is still ahead of us.”
Call today, toll-free, and learn how USAA can serve you: 877-913-MOAA (6622).
Investing in securities products involves risk, including possible loss of principal. USAA means United Services Automobile Association and its insurance, banking, investment and other companies. Use of the term “member” or “membership” does not convey any legal, eligibility or ownership rights. Purchase of an investment product does not establish eligibility for, or membership in, USAA property and casualty insurance companies. Investments (USAA) provided by USAA Investment Management Company and USAA Financial Advisors, Inc., both registered broker dealers. Financial advice provided by USAA Financial Planning Services Insurance Agency, Inc. (known as USAA Financial Insurance Agency in California, Lic. #0E36312), and USAA Financial Advisors, Inc., a registered broker dealer. MOAA receives financial support from USAA for this sponsorship. © 2012 USAA. 140722-1112
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