Fisher Investments is an investment management firm providing portfolio management services for affluent investors. In 2020, the S&P 500 index returned 18.4%. Investors are keen to compare their investment returns against benchmark indexes to evaluate performance. This article analyzes Fisher’s returns in 2020 and compares them to the broader stock market.
Fisher’s composite returns topped the S&P 500 in 2020
Fisher Investments manages over $197 billion in assets for over 175,000 clients globally. Their composites aim to provide long-term capital appreciation while controlling risk. In 2020, Fisher’s Global Equity strategy returned 21.3% net of fees, outperforming the 18.4% return of the S&P 500 index. Strong security selection and factor exposures in sectors like technology drove excess returns.
S&P 500 rebounded sharply from COVID-19 bear market
After plunging over 30% in the first quarter of 2020 due to the COVID-19 crisis, the S&P 500 staged an impressive recovery thanks to unprecedented stimulus measures. The index gained over 65% from trough to peak, rewarding investors who remained invested during the downturn. However, rangebound trading has persisted in 2021 and 2022 amid high inflation.
Past performance suggests Fisher can sustain outperformance
Fisher Investments has a long track record of solid risk-adjusted returns across market cycles. For example, their Global Equity strategy has returned 10.5% annualized since inception in 2006, exceeding the S&P Global 1200 index by 1.7% per year on average. Skilled active management focusing on high-quality growth companies is key.
Fisher Investments outperformed the stock market return in 2020. Looking forward, their disciplined investment approach positioning portfolios for long-term capital appreciation could lead to excess returns over benchmarks.