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"Are Treasurers Losing Millions on Their Investments?"

Our latest white paper "Are Treasurers Losing Millions on Their Investments? How the Worlds's Largest Corporations Invest" is now available.  

Produced by Steve Johnson, CFA, Co-Founder of Adherence Capital Management, the paper reviews the following:

  • What yield do Russell 3000 companies earn on their excess cash?
  • Investing just beyond 397 days is the sweet spot
  • Build processes that allow for better returns beyond 397 days
  • Say "enough is enough" to the audacity of high fees
  • Invest more efficiently by using  separate accounts

Please click here for a pdf version of the white paper: Are Treasurers Losing Millions on Their Investments?

Steve Johnson, CFA, Co-Founder, Adherence Capital Management

Former Chief Investment Officer at Apple Inc.'s Treasury Office (Braeburn Capital)
Former Chief Investment Officer at the City of San Diego's Treasury Office
Former Fixed Income Portfolio Manager at Caterpillar Inc.

To me, Adherence means "no surprises"

"At Apple, during the 2008 financial crisis, our job in corporate treasury was to make sure our CEO and CFO had smooth earnings calls each quarter with Wall Street's analysts. We wanted them talking about iPhones, not impairments!  We had a great team, but above all else, none of us ever wanted that "3 AM phone call" from Steve Jobs - no surprises!  After managing fixed income at small firms, large firms, and through three economic crises, I have learned to worry about unknown future events, because history has been unkind to those who were not prudent.  I also have learned to say "enough is enough!" of Wall Street's high fees.  For these reasons, we stay focused on preserving capital and providing cost-efficient, liquid portfolios."

Mark Lewis, Co-Founder, Adherence Capital Management

Principal, Institutional Fixed Income Trading 
Former Managing Director and Partner, Wilshire Associates

To me, Adherence means "trusted relationships"

"For over 27 years I have focused on understanding each client's specific circumstances and unique needs.  Additionally, I have built trusted relationships with over 90 Wall Street trading desks, ensuring a constant flow of investment ideas and best execution for clients. At Wilshire, a risk management analytics provider, I oversaw teams during the aftermath of the 2008 financial crisis where we helped some of the world's largest fixed income owners, including central banks, sovereign wealth funds, state investment boards, universities, and global asset managers."

Our Expertise Includes Managing Fixed Income Portfolios For:

  • Mutual Funds
  • Municipal Treasurers
  • Corporate Treasurers
  • Insurance Companies
  • Non-profit Organizations
  • Public and Private Project Funds
  • Employee Retirement and Benefit Plans
  • High Net Worth Individuals and Families
  • Universities, Religious Organizations, Unions

    Enhanced cash, short, and intermediate fixed income portfolios

    As your fiduciary, we are founded by treasury and investment professionals who: 

    • Focus on preservation of capital and liquidity
    • Are specialists in the 0-5 year fixed income space
    • Suggest best practices in institutional treasury investments
    • Customize portfolios to meet your institution's diverse needs
    • Manage the risk/return requirements of all types of US dollar portfolios

      Let's review your opportunities today!

      Adherence Helps You:

      • Wear less hats
      • Understand portfolio risk
      • Better forecast your investment income
      • Streamline accounting and reporting process
      • Avoid "other than temporarily impaired" securities
      • Reduce negative mark-to-market in turbulent markets
      • Bounce ideas with someone who has sat in your chair
      • Write investment policies that are designed to protect you
      • Streamline FAS 115 (ASC 320) accounting and reporting process