SAN FRANCISCO--(BUSINESS WIRE)--First Republic Investment Management, a subsidiary of First Republic Bank (NYSE:FRC), today announced the First Republic Founders IndexSM (Bloomberg:FRCFDR) outperformed the S&P 500 by 46% during its first year.
The First Republic Founders IndexSM is an equity benchmark of publicly traded companies, in which the founder or founders are actively involved and remain a key influence in their strategies.(1) The First Republic Founders IndexSM was up 29.7% since its inception on October 7, 2019 through the 12.75 months ending October 23, 2020, compared to an increase of 20.3% for the S&P 500, and 11.5% for the Russell 1000 Equal Weight (“EW”) over the same period.
“The first-year performance of the First Republic Founders IndexSM further supports our investment thesis that founders’ leadership, drive, clarity of vision, and strong focus on clients and culture are key strategic advantages in generating superior performance,” said Bob Thornton, President of First Republic Private Wealth Management.
Currently encompassing more than 400 U.S. equities, the First Republic Founders IndexSM is designed to uniquely track and capture founder-led and -influenced success through applying a quantitative, rules-based, equal-weighted approach, agnostic of sector. These companies generally display certain consistent characteristics, including the ability to move quickly and innovate, commitment to client satisfaction, focus on culture, and long-term view of the business.
The Index commenced on October 7, 2019. Past performance should not be considered indicative of future performance.
First Republic Private Wealth Management, which includes First Republic Investment Management along with brokerage and trust services, had $168.2 billion in assets under management as of September 30, 2020. To learn more about First Republic Private Wealth Management, click here.
This announcement is not an offering, solicitation or recommendation for any security nor does it constitute an offer to provide investment advisory or other services. Investing in securities involves the risk of loss. It is not possible to invest directly in an unmanaged index without fees or expenses.
Investment, insurance and advisory products and services, and foreign exchange transactions, are not FDIC insured or insured by any federal government agency, not a deposit, not bank guaranteed and may lose value.
(1) |
The First Republic Founders IndexSM defines a founder-influenced company, for inclusion in the Index, as one in which the founder or founders serve in a key executive role and/or on its board of directors. |
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not historical facts are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipates,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimates,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed.
All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Any forward looking statements are qualified in their entirety by reference to the factors discussed throughout our public filings under the Exchange Act. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
About First Republic
Founded and led by Jim Herbert, Chairman & CEO, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. Since its founding in 1985, First Republic continues to specialize in delivering exceptional, relationship-based service, offering a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index. For more information, visit firstrepublic.com.
