Marianas Variety

Last updateFri, 23 Feb 2018 12am







    Thursday, February 22, 2018-5:43:38A.M.






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Hiring Garcia Hamilton ‘good decision’ for MPLT

THE money manager for fixed income has been beating the benchmarks.

Morgan Stanley Smith Barney vice president for wealth manager Jason Miyashita told the Marianas Public Land Trust board that money manager Garcia Hamilton has been outperforming the benchmarks.

Miyashita told the MPLT trustees that the manager has been beating the benchmarks by about 200 basis points.

Marianas Public Land Trust investment consultant, Morgan Stanley Smith Barney’s senior vice president for wealth management, Jason Miyashita, makes a presentation during an MPLT board meeting.  Photo by Alexie Villegas Zotomayor

For Miyashita, “it’s impressive.”

In his report to the board, Miyashita said Garcia Hamilton’s “alpha” is 3.29.

Alpha is one of the five technical-risk ratios in investment that help investors develop the risk-reward profile of a mutual fund. It represents the value that a portfolio manager adds to or subtracts from a fund’s return.

Miyashita said Garcia’s “alpha” is positive.

Again, he described this as “an amazing performance” by a money manager.

This, he said, is why Garcia Hamilton is fixed income money manager of the year.

It was recognized as the fixed-income, investment-grade manager of the year at the 5th Annual U.S. Investment Management Awards held in New York City on May 15.

For Miyashita, hiring Garcia Hamilton was “a good decision” by the trustees.

Since MPLT acquired the services of Garcia Hamilton in 2012, it has been showing a consistent performance against the benchmarks.

Garcia Hamilton manages about 30 percent of MPLT’s invested assets.

As of July 31, it holds $24.29 million in MPLT’s assets.

For the fiscal quarter, Garcia Hamilton posted 0.01 percent investment returns against negative 25 basis points of the benchmark.

Since it was hired by MPLT, it has been outperforming the benchmark, 3.11 percent to 0.97 percent of the benchmark.

According to Garcia Hamilton, the firm’s objective is to beat the benchmarks and it subscribes to following tenets: preserve capital, maintain liquidity and provide high current income.

Garcia Hamilton, an institutional asset management firm, had $4.5 billion in assets as of Sept. 1, 2014.