Location: Greenwich, Conn.
Principals: Andrew Jacobson, CIO and lead portfolio manager; Donald Miller, chairman; Bradley Amoils, co-portfolio manager
Style: International large-cap equity manager
AUM as of June 30: $1.41 billion
Three-year annualized performance:
Benchmark (MSCI All Country World, ex-U.S.): -12.8%
Three-year alpha: 3.06
Andrew jacobson was executive vice president at Columbus Circle Investors, Stamford, Conn. for five years, but he wanted to start his own firm. He left in 1998 to form Axiom International Investors, taking three research analysts with him.
He got to know Donald Miller, who had been chairman and CEO of Columbus' parent company, Thomson Advisory Group LP, Stamford, Conn. Mr. Miller joined about a year after the firm was launched. Bradley Amoils joined in early 2002 from American Century Investment Management, Inc. Kansas City, Mo., where he was a global growth equity portfolio manager.
Jon Yenor, director of client services and marketing at Axiom, explained that when Mr. Jacobson left Columbus Circle, he negotiated a subadvisory agreement with the firm to manage $189 million. That agreement ended in 2000, but most of those clients stayed with Axiom, Mr. Yenor said.
The firm uses a fundamental bottom-up strategy based on stock selection, Mr. Yenor said. "We don't underweight or overweight sectors. The focus is on key business drivers. We look for improvements and changes in companies we're considering investing in. We also invest in companies that are going through restructuring."
Currently, the firm likes Credit Suisse Group, Canon Inc. and News Corp.
Doug DuMond, president and CEO of Overture Asset Managers, New York, which follows new managers, said Axiom has a terrific track record and is growing quickly: "They use a very disciplined process in their investing."