Tufton Capital manages assets for a broad range of institutional clients, including corporations, endowments, foundations, pension plans and associations. We seek to provide superior performance while controlling risk. The investment team at Tufton Capital has decades of experience in institutional asset management and uses a disciplined investment philosophy and integrated process focused on fundamentals.
Price is what you pay. Value is what you get.
— Benjamin Graham
Our Approach
The investment team at Tufton Capital works hard to provide our clients with above average, long-term risk adjusted returns. We follow a rigorous bottom-up approach with a strong emphasis on risk management. Tufton manages balanced and all-equity accounts for institutional clients. Our equity investment style is best described as an all-capitalization blend with a primary focus on large capitalization value stocks. We are patient value investors with a disciplined and time-tested philosophy and process that are not swayed by market volatility.
Our Process
We begin each institutional relationship by crafting an Investment Policy Statement (IPS) together with our client’s Investment Committee. This IPS with written goals and objectives serves as the foundation and roadmap for managing the institutional portfolio and selecting securities.
Once the IPS is complete, portfolios are constructed based on our disciplined, unbiased and repeatable process. We will sell or reduce a holding if its price target is achieved, if we suspect deteriorating company fundamentals or if the stock or sector weighting becomes overly concentrated. Our risk management strategy includes assessments of intra-portfolio correlation, Active Share contributions of individual positions and the betas and standard deviations of all of our equity holdings. We usually hold stocks for a period of three to five years, which translates into low portfolio turnover.
Our Philosophy
Tufton Capital Management was founded on Benjamin Graham’s principles of value investing:
- we seek to purchase securities trading at significant discounts to our internal assessment of their values;
- we strongly believe that dividends and interest are important components of return;
- we determine the “margin of safety” that will provide downside protection;
- simply put, we seek to purchase a dollar’s worth of assets for fifty cents.
We offer a blend of domestic and international equity accounts with the right mix of fixed income to minimize risk with the most reward.
401k Advisory
Tufton Capital Management offers 401k Advisory services to small to mid-size companies across the country. We serve as a fiduciary partner to our clients, guiding them through the complex regulatory environment while also offering superior investment products and guidance for plan participants.
As a 401k Advisory client, Tufton will:
Lower your fiduciary risk
Unlike brokers and insurance agents, we are a fiduciary and can serve in this role for your Plan. We will review your existing Plan, help write your Investment Policy Statement, make investment recommendations, and regularly monitor the Plan.
Lower your investment risk
As an independent Registered Investment Advisor (RIA), we do not receive any compensation when recommending funds for your Plan. With no conflict of interest, we choose among thousands of funds in order to offer diversified, best-in-class products for your Plan participants.
Lower your employee risk
Our comprehensive education and communication program will help employees be better informed when making decisions for their Plan.
The investment professionals at Tufton Capital Management ensure that your retirement program reflects your organization’s goals. Based on your objectives, we review your existing Plan. We will then design, implement and manage your new Plan with care.
