- About Saturna
- Core Values
- How To Invest
- Investment Counsel
Download a PDF of Saturna's Investment Counsel Brochure for more details.
Saturna's primary portfolio managers and number of accounts assigned are Bryce Fegley (1), Nicholas Kaiser (57), Phelps McIlvaine (7), Peter Nielsen (1), and John Scott (1). The other members of the Investment Committee monitor Saturna's "recommended list" of securities, from which the portfolio managers normally select investments. In addition, approximately twenty other Saturna employees (primarily those working as fund accountants, customer representatives, and in operational positions) monitor client securities and portfolios.
Securities may be bought or sold in any managed account at any time. Accounts have different objectives, and securities that are traded in one account may or may not be traded in other accounts. Tax reasons, for example, may cause a security to be traded (or not) in a specific account. If a security is dropped from the "recommended list" it is normally sold from all accounts holding it at that time. Many factors are evaluated in making a security trade, but the primary trigger is earnings (actual and projected). News reports are followed closely on "recommended list" securities, and evaluations by our analytical team (including what is NOT said) may trigger purchases or sales. Securities may be purchased or sold based upon our outlook for the market as a whole, or the country, industry or sector of the company.
There are no limitations on the amount of securities that can be bought or sold for clients, other than may be given in instructions from the client and the objectives of the client's account.
Portfolio managers meet with their clients as requested. Confirmations of security trades are sent to account owners at the time of each transaction. Monthly statements are prepared by Saturna for each account and reviewed by the staff before mailing. These statements give the client an opportunity to monitor results each month. Additionally, clients may access their portfolio information and values online through services offered by Saturna Brokerage Services and its clearing broker. Mr. Kaiser reviews each managed account after the end of each quarter as part of the quarterly bill preparation process.
Saturna's portfolio managers follow the firm's general guidelines consistent with value investing. Portfolios are commonly in equity securities including foreign equities, debt of domestic and international issuers, and money market funds. Investment decisions may be made in accordance with specific account guidelines, such as Islamic principles.
Portfolios are normally diversified across industries, although private accounts often are more concentrated due to individual client situations.
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