Capital Appreciation


The BWFA Capital Appreciation strategy seeks long-term appreciation of capital with a modest level of current income. Clients who choose this strategy may experience fluctuation in portfolio value. This strategy is designed to suit investors who are able to tolerate volatility and typically have an investment horizon of greater than five years. Portfolios invested according to this strategy may have uncertain short-term investment returns but offer potential for long-term rates of return higher than those of more conservative investment strategies.


Portfolios following this strategy invest primarily in equities of well-established companies. The emphasis on growth in this strategy orients the portfolio to stocks of companies experiencing high earnings growth, strong revenue growth, and an industry-leading position. A portion of portfolio assets is allocated toward international equities. The global equities we primarily seek represent companies based outside the United States that meet our investment criteria. We avoid using income-producing investments in this strategy.


Our aim is to create diversified client portfolios that earn favorable investment returns while controlling volatility and risk according to the parameters of each client’s chosen investment strategy. We work to achieve strong performance over multiple market cycles, relying on the consistent application of a proven investment process. We adhere to an investment philosophy that values both vision and discipline. We do not believe that long-term goals can be met by chasing short-term results. Instead, we focus on the larger picture while remaining mindful of the current environment.


When managing clients’ portfolios with a personalized and customized approach for each client, BWFA will often exercise discretion to invest funds higher or lower than the stated category allocations in the BWFA investment strategy, within a reasonable limit, and consistent throughout the firm.