Matrix Investment Research, a new joint venture between consultant Stern Stewart and broker-dealer Matrix USA, plans to form an SEC-registered investment advisory company in the next month that will manage portfolios for institutional clients using economic value-added research, said Dan Scalzi, CEO of Matrix Investment. The firm is searching for a CIO to oversee asset management and hopes to hire one by the end of the year. Individuals who are interested can contact MIR, which isn't using an executive recruiting firm.
MIR will rate stocks according to how closely their market value reflects their underlying EVA performance trends. MIR will also sell the research to money managers on a hard- and soft-dollar basis.
Stern Stewart pioneered the development of economic value added, which is used to measure corporate performance, evaluate corporate strategies and determine incentive compensation. Matrix is a woman-owned broker-dealer.