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Core Equity Management
KCM’s growth equity philosophy is that over time a company’s revenue and earnings per share growth are the most significant determinants of long-term stock price appreciation. We primarily seek companies that are positioned to increase market share and become a dominant factor in their industry. Qualifying companies are selected for having strong financial characteristics which are in a period of high, sustainable earnings and revenue growth. We believe that the best rewards for clients will be found over a full market cycle within these companies with the proper diversification relative to appropriate indices and benchmarks. KCM’s objective is to maximize total return while concentrating on quality securities.

Global Opportunity Portfolio
The Global Opportunity Portfolio strategy has a substantial stake in large multinational companies that pay dividends, and have a long history of increasing those dividends. A growth element is provided by some exposure to fast growing emerging markets. The portfolio also includes elements that are designed to provide protection against inflation and a weak dollar. KCM’s objective is to provide a modest and growing level of current income, modest growth, and protection from inflation and a weak dollar.

Balanced Account Management
KCM’s balanced investment philosophy is founded on the fact that over extended periods, the returns from equities have been greater than the returns from cash investments or bonds. Therefore, our balanced portfolios have a bias toward equities with a growth stock orientation. We believe the purpose of owning bonds, either taxable or tax exempt, in these portfolios is to contribute to total return, increase diversification, and reduce overall volatility. We call this our “anchor to windward” strategy.  KCM’s partners believe that a conservative, disciplined approach to active bond management adds value. By employing relative value analysis, we have proven that we can capture opportunities created by changing market conditions. KCM’s objective is to maximize total return while adhering to a portfolio that is balanced between quality stocks and bonds.

Fixed Income Management
KCM’s fixed income investment philosophy is based on our belief that superior risk-adjusted returns are achieved by capturing changes in relative value through active yield curve management, sector rotation, and prudent security selection. KCM’s objective is to consistently outperform comparable indices over long periods of time, producing either taxable or tax free cash flow, while adhering to quality securities.