O’Shaughnessy Asset Management (OSAM), a pioneer in quantitative asset management, today announced it has finalized its exit from Bear Stearns Asset Management (BSAM) as of March 31, 2008. In becoming completely independent from all operational interdependencies with Bear Stearns (NYSE: BSC), O’Shaughnessy Asset Management formally begins independent operations with over $9 billion in assets under management, making OSAM one of the largest asset managers in the U.S.
“We are now fully independent and serving over 6,200 accounts on our own proprietary systems,” said James P. O’Shaughnessy, Chairman and Chief Executive Officer of O’Shaughnessy Asset Management. “While we have returned to our entrepreneurial roots, what hasn’t changed is our foundation in quantitative analysis and the disciplined approach we’ve applied throughout the 11-year history of our equity investing strategies to generate real rates of return that consistently beat the major stock indices.”
At Bear Stearns, Mr. O’Shaughnessy grew the portfolios he managed from under $1 billion in 2001 to over $9 billion in 2007, faster than any other BSAM manager. The transition of the firm’s assets held through financial intermediaries was completed in January 2008. Institutional accounts completed their transition at the end of March. All together, O’Shaughnessy Asset Management retained more than 95% of its institutional and intermediary accounts in the move. The firm credits its success to its 11-year track record of verifiable investment strategies based on more the 50 years of empirical research.
“O’Shaughnessy Asset Management’s disciplined, unemotional management and their confidence to stay on strategy are why we selected them in 1997 to be our key sub-advisor and why we’re thrilled to still be working with them,” said Brenda Vince, President of RBC Asset Management, a division of the Royal Bank of Canada. “Their long-term track record of performance stands out, and proves out, over time.”
Mr. O’Shaughnessy, author of the best-selling book What Works on Wall Street, and his firm advocate employing intuitive and rational investment strategies in order to outperform the market over the long term. He contends that those who utilize consistent discipline and stock selection strategies that have withstood the test of time will vastly outperform those who veer off course when emotions influence decision-making and they convince themselves “it’s different this time.”
About O’Shaughnessy Asset Management
O'Shaughnessy Asset Management is a Stamford, Connecticut-based quantitative money management firm. The firm delivers a broad range of equity portfolios to institutional investors and the high net-worth clients of financial advisors. O’Shaughnessy Asset Management also serves as a sub-adviser to a family of mutual funds through the Royal Bank of Canada. The firm’s investment strategies are based on the research of Chairman and CEO James P. O'Shaughnessy, widely regarded as a pioneer in quantitative equity analysis. Mr. O'Shaughnessy and his team have identified the characteristics that have led to successful investing over the last fifty years, and it is these characteristics that form the foundation of the firm’s strategies. As of March 14, 2008 O’Shaughnessy Asset Management managed $9.4 billion. For more information, visit www.osam.com
Amanda Schuneman, 617-520-7079