Atlas Capital Advisors is an independent, S.E.C. registered investment advisor based in San Francisco. We provide customized investment solutions that deliver performance at a reasonable price. Our systematic investment approach is grounded in academic and proprietary research. We emphasize strong risk management and capital preservation. Our clients compensate us on a fee-only basis.
We are disciplined unemotional investors
We show you how, why and what investments we make to generate returns
We invest only in publicly traded securities with deep daily trading volume
We typically hold a smaller subset of the benchmarking index, 80+ stocks
We help clients express their social values and minimize single stock risk
Any sound individual financial strategy requires client discussion before developing an implementation plan. Together, we create your unique Investment Policy Statement after a full understanding of your risk tolerances, investment objectives, aggregate wealth and income, as well as current risks to your goals.
The Atlas asset allocation approach is based on techniques developed by some of the country’s largest and most sophisticated institutional investors. Atlas uses this experience, academic research and continuing proprietary research to create a dynamic, market aware, diversified asset allocation approach.
We provide equity, fixed income, balanced, futures and currency management through customized separate accounts. We can be turn key service providers through our various investment strategies or comprehensive capital managers using our proprietary asset allocation models.
Risk to achieving your financial objectives can take many forms and may not be limited to Atlas managed portfolios. Our partners have extensive experience managing risk for individuals and institutions. We offer tax efficient solutions to reduce benchmark, asset/liability, market, interest rate and currency risks. Please contact us!
Concentrated holdings exposure increases aggregate wealth risk. Such exposures include company stock held by executives, employee stock options, legacy low cost single equity positions, or any asset class that is heavily overweight and can’t be efficiently sold. Atlas is proficient at helping clients manage this unique risk.
TIAA-CREF recognizes the value added by independent advisors helping individual participants make appropriate retirement plan decisions. Atlas acts as a fiduciary on behalf of clients using our proprietary research expertise to evaluate investment choices, make appropriate portfolio selections and provide holistic retirement/estate planning services.
Atlas founder, Jonathan (Jono) Tunney, brings deep and broad expertise to bear on global economic analysis, asset allocation, business valuation, portfolio design, and risk management. His experience includes responsibility for worldwide currency risk management and more than $100 billion in annual foreign exchange transactions as Director of Foreign Exchange for Hewlett Packard. He holds a BA in Economics and Political Science from Stanford University, an MBA in Finance from the Anderson School at UCLA, and the Chartered Financial Analyst designation.
Albert J. Gutierrez has over 35 years of extensive capital markets experience including several executive positions at multi-billion dollar institutional investment advisers. Bert was Chief investment Officer at SCM Advisors, EVP of portfolio management and trading at American General Investment Management, and SVP responsible for research, trading and insurance asset management at Conseco Capital Management. He holds a BS in Economics, The Wharton School, University of Pennsylvania and a Chartered Financial Analyst designation.
Mike has over 12 years of experience developing computer systems for risk management, portfolio optimization, back-testing, and trading applications used by hedge funds and registered investment advisers. He previously worked at Evolution Capital Management, an Asian multi-strategy hedge fund. Mike holds a BS in Business Administration and Computing Science from Simon Fraser University and a Chartered Financial Analyst designation.
Marc Roth has 35 years of wide ranging investment management and capital markets experience in both the US and Europe. Marc worked in institutional services at various firms including LF Rothschild, Mabon Nugent International, and Donaldson, Lufkin, Jenrette. After returning to San Francisco from London to continue his career with DLJ, Marc saw a need to service his high net worth clients and founded JMR Capital Management in 1995. He holds a BA in English and German literature from Northwestern University and an MA and Ph.D. from UC Berkeley.
Ken Frier is Chief Investment Officer. He currently serves as a member of the Investment Advisory Group of the Alaska Permanent Fund, is Co-Chair of the Trustee Advisory Group of AIF Global and a member of the Programming Advisory Council for the CFA Institute of San Francisco. He is an expert in asset allocation and risk management. Ken holds a BS in Mathematical Science with honors from the University of North Carolina, Chapel Hill, a MBA from the Stanford Graduate School of Business, and a Chartered Financial Analyst designation.
Dan has 20 years of business and investing experience with a particular emphasis on Alternative Investment Classes, Portfolio Construction and Family Office Structuring. He has been the Managing Director of Sebastes Capital Management, Inc., a San Francisco based family office. Prior to joining Sebastes Capital Management, Dan was an investment professional at TPG Growth, Stolberg Equity Partners and Bain Capital. Dan holds an M.B.A. from the Harvard Business School and a M.C.P. and S.B. from the Massachusetts Institute of Technology.
Jocelyn Doe has 30 years of finance and investment experience. She led an outsourced CIO team to serve multi-national tech entrepreneurs at The Presidio Group and helped launch the Silicon Valley office of JPMorgan private banking. Prior to managing private capital, Jocelyn was an investment banker at Morgan Stanley & Co. and Lehman Brothers Inc. advising technology companies in Silicon Valley, New York, and Hong Kong. She graduated with an A.B. in Economics and Political Science from Stanford University and a MBA from the Anderson School at UCLA.
Taylor has 25 years of Capital Markets experience. He has spent a majority of his career as a Senior Portfolio Manager in Convertible Arbitrage and Derivative Strategies. He has extensive experience in portfolio management, risk analysis, financial modeling, and trading. He has worked at Wedbush Securities, The Royal Bank of Canada, US Bancorp Piper Jaffray, Banc of America, and UBS Securities. Taylor holds a BS in Finance from Villanova School of Business.
Peter has over 35 years of capital markets experience in both trading and sales. He began his career at Shearson Lehman Brothers as a financial consultant. Peter later helped find the investment banking firm Pacific Growth Equities in San Francisco which was acquired by Wedbush Securities in 2009. He subsequently worked for Emerging Growth Equites as the head of west coast sales before he joined Atlas. Peter holds a BS in Marketing from San Diego State University.
Jasmine has over 15 years of experience in the financial services industry. She began her career with Ameriprise Financial as a financial planner/consultant, where she acquired numerous FINRA and state licenses. From there she worked for several RIAs/Investment firms. Jasmine is primarily responsible for financial operations at Atlas Capital Advisors. She has a BA in Banking and Finance from St. Isabelan College in the Philippines and also studied Multimedia and English language in Singapore.
Asset allocation is the most important decision one can make as an investor. Each quarter, Atlas Capital Advisors updates estimates of the expected returns of each asset class, and adjusts allocations accordingly. We make these decisions in a systematic repeatable way using approaches grounded in academic evidence.
We are fundamental investors. We seek to increase weights in asset classes that are attractively priced, and reduce weights in those that are not. Attractively priced asset categories, with higher expected returns, have “good value” in our terminology.
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Global Downside Protected (GDP) Allocation
Atlas Global Downside Protected (GDP)
Global Equity Strategy
July 2016 Update
Performance
The global capitalization weighted equity index (FTSE World net of tax) was down 0.62% in June 2016. GDP strategy performance net of fees in June was up 0.53%, 1.15% ahead of the index. From strategy inception on July 9, 2015 through the end of June 2016, the GDP strategy has a loss of 9.18%, net of fees. That is 4.88% below the loss of 4.30% for the global equity index over the same period. The underperformance since inception is primarily the result of the low weight in equities after the January downturn, which limited participation in the sharp rebound of the global equities market which ran from mid-February to April.
The GDP strategy went into June with 74% of the portfolio in the stock market. The choice by voters in the United Kingdom to exit the European Union (“Brexit”) roiled markets toward the end of the month. By June 27, the Monday after the vote, global stocks were off 5.5% for the month, with GDP off half as much at 2.7%. Global stocks then recovered almost all of that loss by June 30.
Most of the GDP positioning choices were beneficial in June. In particular, the strategy was helped by its underweight in Europe – just an 8.5% weight vs a benchmark weight of 20.7%. The other major benefits to performance were from: