Premier
Investment Management, Inc.
A fee-based asset management and advisory firm.....
Who we are
Premier Investment Management, Inc.
Performance Footnotes:
·
Performance
results are calculated after transaction costs and before
investment advisory fees using a time-weighted gross
of fees return formula.
·
Performance
calculations comply with the Association for Investment
management & Research (AIMR) industry
promulgated performance
standards.
·
Performance
results reflect a “total return”, which includes the reinvestment
of dividends and other earnings.
·
Results
are compared to the S&P 500 which is an unmanaged index reflective
of general market movements. The S&P 500 index does not reflect any
adjustment for management fees or other expenses, but does reflect the
reinvestment of dividends.
·
Results
are also compared to the Consumer Price Index, which is a widely
used index to measure inflation for a comparison to
a real rate of return above inflation.
·
Client
returns will be reduced by investment advisory fees and any other
expenses that may be incurred with respect to the
management of the client’s account.
Annual
returns for the past ten years adjusted to reflect the deduction of an advisory
fee of 1.5%, which is the maximum advisory fee that would be paid by any
client, are as follows:
______________________________Equity
Composite______________________________
|
1991 |
1992 |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
|
|
61.9 |
7.6 |
-1.6 |
4.0 |
21.9 |
16.4 |
30.0 |
39.0 |
39.7 |
-11.2 |
-14.3 |
|
·
Investment
advisory fees are described in Part II of Premier’s Form ADV.
PREMIER, OUR PHILOSOPHY
At Premier, we believe financial security is a
primary ingredient in every success story.
Our success depends on fulfilling your financial growth and security
goals by providing quality portfolio management services. Simply stated, our purpose is to provide our
clients with above-average investment returns without assuming undue market
risk. To attain this goal, the
professional team at Premier is committed to a strong investment discipline
designed for achieving success over a long-term time horizon. It is our conviction that above-average
consistency is preferable to occasional spectacular performance. We seek clients with long-term vision that
share in these aspirations.
It is our belief that quality and performance
are never an accident, but are the result of high intentions, sincere efforts,
intelligent direction and skillful execution – the best selection of several
alternatives.
Our staff is dedicated to maximizing the value of
our client
portfolios. Only through client
satisfaction can the employee ownership of Premier be maximized.
Premier is a registered investment adviser under the
jurisdiction of the Securities & Exchange Commission and the State of
Florida. We maintain the highest of
ethical standards by subscribing to the Code of Ethics and Standards of
Professional Conduct issued by the Association for Investment Management and
Research (AIMR).
PREMIER PROFESSIONALS
Deborah L. Maroney – Director
Deborah’s extensive business background spans 23
years in the defense industry including a top-level management position with
Lockheed Martin. She currently is
President of Specialized Information Management Associates, Inc. (SIMA) which
provides disassembly procedures for defense industry components under the Salt
Treaty Agreement. She received a
Bachelor of Arts degree in Business Management from Eckerd College. Deborah currently serves as a director of
Star Center, a research and development center of the Pinellas County
Industrial Council for Economic Development.
R. Randal Hayes – Consultant
Randy’s financial and investment background spans 35
years in the utility business including Vice-President and Controller of
Florida Power Corporation. He is a
graduate of East Tennessee State University.
E. Gardner Harshman – Financial Representative
Spanning a career of 31 years with Florida Power
Corporation, Gardner’s business experience includes interfacing with customers
to provide quality customer service. He
has a commitment to educate others with the regard to the value of long term
investing. Gardner is active in
volunteer work through service organizations, church and neighborhood
associations.
THE PREMIER WAY
The investment process for any investment manager is
directly linked to the manager’s investment style. Premier utilizes a top-down, fundamental style in managing
money. This process begins with our
ongoing assessment and forecast for the economy as well as the financial
markets that encompasses an ever-changing arena of events. Here, we look at meaningful statistics that
measure the health of the economy, such as inflation, consumer demand,
manufacturing and employment. Further
assessments are made regarding political policies, investor sentiments and
international matters. This continuous
analysis has direct bearing on our asset allocation and investment selection
decisions. Within this top-down style,
we see ourselves as conservative to moderate-risk managers that focus on
investing over market cycles, not as short-term speculators.
YOUR PLAN
As a client of Premier, our preliminary
contacts with you serve to familiarize us with your investment needs. In this planning stage, we build the
framework that identifies your specific goals, objectives, and
constraints. We will specifically
address your investment return expectations, risk tolerances, time horizon,
tax/legal considerations, and any unique aspects that will impact your
investment future. Through this
evolving framework, we are also able to implement the investment strategy for
your portfolio, tailored to your individual needs.
CLIENT COMMUNICATIONS
To keep you appraised of portfolio activity,
periodic reports are distributed detailing your portfolio holdings at cost and
market, estimated annual income, investment activity and commentary for the
period. We believe strongly in
communication and encourage our clients to contact us regarding their
accounts whenever the need arises.
YOUR FINANCIAL FUTURE
Your decision process for selecting an investment
advisor can significantly impact your future financial security. If Premier’s management style is compatible
with your investment objectives, we encourage you to call for an appointment to
discuss how we can serve your investment needs.
SECURITY SELECTION
The investment
selection process begins by identifying significant business trends that are
expected to emerge over a business cycle, generally lasting three to five
years. We then identify those
industries and appropriate sectors that will most likely benefit from these
economic trends. By applying a set of
selection criteria to this data, a listing of approximately 100-150 qualifying
stocks is developed and continuously updated, focusing on growth potential and
value. Stocks are ultimately selected
for portfolios that potentially will provide the best total return for client
portfolios. In general, we concentrate on medium to large companies that have
established a stable financial history and provide liquidity through trading
volume.
Our equity
portfolios typically consist of a core of quality growth stocks complemented
with cyclical issues based on the market business cycle at the time of selection. In core holdings, we look particularly for
changes in the company itself. In
peripheral holdings, changes in the economic cycle may be all that is required
to trigger a purchase or sale.
Our fixed security universe concentrates on high
quality government and corporate issues.
Based on our forecast for changes in the interest yield curve, a
portfolio’s maturity period is lengthened or shortened to respectively provide
principal gain or protection.
THE PREMIER ADVANTAGE
Your choice of investment adviser depends primarily
on your comfort level with the capabilities of the people investing for your
future. Premier’s investment methodology provides its clients with advantages
that begin with:
· Experience - Premier’s professional
staff maintains
many professional
credentials and combines a variety of financial backgrounds.
·
A Proven Management Style - Above average
returns, as shown in our
long-term performance history, reflect the benefits of our disciplined
investment methodology.
·
Meeting Client Objectives – Funds are managed
by individual portfolios,
not on a commingled basis, ensuring each client’s unique goals, risk
tolerances and constraints are addressed.
·
Superior Account Service – Through an advanced
in-house reporting system
and strong broker-dealer relations, we maintain timely, cost-efficient
reporting and trading advantages.
PREMIER INVESTMENT MANAGEMENT, INC.
EQUITY PERFORMANCE
VALUE OF $100
DECEMBER 31, 1986 – DECEMBER 31, 2001
Ten-Year History
|
|
|
1992 |
1993 |
1994 |
1995 |
1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PIM
Equity |
|
9.1 |
-0.1 |
5.5 |
23.4 |
17.9 |
31.5 |
40.5 |
41.2 |
-9.7 |
-12.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
S&P
500 |
|
7.6 |
10.1 |
1.3 |
37.6 |
23.1 |
33.4 |
28.6 |
21.0 |
-9.1 |
-11.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inflation |
|
2.9 |
2.8 |
2.7 |
2.5 |
3.3 |
1.7 |
1.6 |
2.7 |
3.4 |
1.6 |
|
Performance
results are calculated after commission charges and before management fees.
There is no assurance
that past performance is predictive of future performance.
ASSET ALLOCATION
Consistent with our comprehensive risk-averse
approach to investing, we do not stay fully invested in equities or fixed
income securities at all times.
Investment experience dictates that there are times when it is more
prudent to reduce investment exposure in equities or fixed income and invest in
cash equivalents temporarily, awaiting better investment opportunities.
Allocation decisions within our equity portfolios
are based on a broad spectrum of important items including:
·
Economic
Factors
·
Overall
stock valuation levels
·
Dividend
yields
·
Market
momentum
Allocation decisions in our fixed portfolios rely heavily
on forecasts for the interest yield curve depicted by treasury yield levels
within the 0-30 year maturity range.
Here we look at shifts in the entire curve as well as increases and
decreases at specific maturity periods along the curve.
Analyses of these and other market indicators are
used in assessing the level of risk associated with being invested and the
future reward potential.
PREMIER PROFESSIONALS
Gloria R.
Blackburn – C.E.O. and President
Gloria serves as chairman of Premier’s Investment
Committee. Her professional background
covers over 25 years of experience in the financial and investment industries,
and includes service as Vice-President of Progress Investment Management, Inc.,
the forerunner of Premier. She has also
held management positions in the Investments and Retirement/Savings area of
Florida Progress Corporation. She is a
Chartered Financial Analyst, in process, Certified Public Accountant and
Certified Management Accountant. Gloria
is licensed by the National Association of Securities Dealers (NASD) as a
General Securities Principal, Series 24, and for the Investment Advisor Law,
Series 65. She holds a BS degree in
accounting from the University of Tennessee and an MBA from the Florida
Institute of Technology. Gloria also
serves on the Board of Trustees for a charitable endowment fund.
Our Equity selection process highlighted below recognizes that business
cycles have many similar characteristics.
Some sectors historically perform better than others at various points
in the cycle.
SELL DISCIPLINE
As long term investors in securities that maintain
strong fundamentals, we typically remain invested over a period that may
experience some downturns. Our
discipline provides that a financially strong company will be recognized over a
longer time horizon even when short-term negative investor sentiment
occurs. We continually monitor all
portfolio securities for significant fundamental changes. When a change occurs that limits a company’s
growth potential, that security will be eliminated from the portfolio.
727-799-4991
2451 McMullen Booth Road; Suite 315, Clearwater FL
33759-1356