Derek P. Moran

WMC relies on their extensive independent research and includes portfolio management styles and approaches in equities, fixed income securities, currencies and commodities, as well as asset allocation across these categories. The firm has several different disciplines when approaching research and these include asset allocation analysts, currency analysts, data scientists, factor analysts, fixed income credit analysts, fixed income market analysts, global industry analysts and research associates, macro-analysts, quantitative analysts and technical analysts.

Merganser has a very simple investment philosophy. They observe two cardinal principles. First, preserve the client's capital. Second, earn consistent real returns. For each account based on client needs, they set parameters for minimum credit quality, liquidity and maturity range. Within these parameters, they then strive to maximize total return and to outperform client benchmarks. Merganser's investment strategy does not require sacrificing quality, nor is it based on interest rate forecasting. They are fundamental, bottom-up investors, dedicated to understanding intricate fixed-income vehicles, and committed to providing superior returns through identification of securities that are mispriced or have unusually attractive risk/reward characteristics. Because they are not market timers, the firm's approach is to remain fully invested at all times in the most attractive sectors.

Functions as a College/University

Provides business and financial information, data, news & insights services

Merganser’s investment process is designed in such a way that allows the investment team to be flexible and responsive to changes in the markets. Their research process has two broad facets: bottom-up and top-down. The firm employs a disciplined value-oriented approach, aiming to be fully invested at all times in the most attractive sectors. Portfolio optimization techniques are employed to produce high risk-adjusted returns.