Investment Discipline/Team
The Jensen Investment PhilosophyA cohesive team approach provides important depth and stability in Jensen portfolio management. Our seasoned investment team, using only original research, analyzes each company as though we intended to purchase the entire company for the long term, rather than just its stock.
Jensen targets companies that we believe have achieved a long-term record of persistent strong business performance, maintain strong debt-to-capital ratios, demonstrate outstanding management and possess sustainable advantages over competitors.
We believe that a company's ability to sustain these characteristics results in increasing free cash flow well in excess of operating needs - an important indicator of a valuable long-term investment.
Companies are purchased only when their shares are priced at a substantial discount to what we believe is their intrinsic value, based on a proprietary formula that allows us to estimate the present value of future free cash flows.
Shares are sold when a company's performance falls below specific business standards, or when a fully priced security can be replaced with another that is significantly underpriced.
We believe strict adherence to our proprietary process can provide strong long-term growth and preserve capital while avoiding speculative risk.
To read more about our Process CLICK HERE
Investment Team Bios
Jensen Investment Management believes in a single approach to managing wealth and, since 1988 has adhered to the same time-proven investment discipline. This consistent discipline is enhanced by our cohesive team approach to investment management that provides depth and stability in Jensen portfolio management.
Rob McIver, President, Portfolio Manager, joined the firm in 2004. Rob received a BA (Joint Honors) from the University of Nottingham. He is a Fellow of the UK's Securities Institute and has over fourteen years experience in the banking and investment businesses, including 10 years with Schroder Investment Management in London. Rob served as Chief Investment Officer, Latin America for the Miami, Florida-based Schroder & Co. Trust Bank (1999-2001). Most recently, he was located in British Columbia, Canada serving as General Manager of Fairmont Villa Management and Vice President of Fairmont Riverside Golf Estates Ltd (2001-2004).
Robert Zagunis, Chairman, Investment Committee, Portfolio Manager, joined the firm in 1993. He received his B.S. from Oregon State University with a major in business, a science minor and a concentration in international trade. Robert graduated from Stonier Graduate School of Banking, University of Delaware. He was a loan officer with First Interstate Bank (1977-1987) and the Bank of California (1987-1993). Robert's experience in commercial lending covers the full spectrum of business banking situations. He served as Chair of the Finance Committee for the State of Oregon Economic Development Department.
Robert Millen, Chairman, Portfolio Manager, joined the firm in 2000. He received his BBA degree in finance from the University of Iowa and graduated from the Stonier Graduate School of Banking, Rutgers University. Bob has over 30 years experience in banking, investment management and financial services, including serving as Vice President of Principal Financial Group (1997-2000) and Group Vice President of Wellmark, Inc. (1990-1997). He was President of First Interstate Bank NA in Des Moines, Iowa and has held senior management positions at Norwest Bank NA also in Des Moines.
Eric Schoenstein, Principal, Business Analysis, joined the firm in 2002. He earned a B.S. in business administration, with a focus in accounting, from Oregon State University. Eric spent nearly 14 years with Arthur Andersen LLP, including responsibilities as a Senior Audit Manager. He provided a wide variety of services to clients of all sizes in both the public and private sectors. His career also included time in Chicago and Budapest, Hungary, as well as in his primary location of Portland, Oregon.
Kurt Havnaer, CFA, Business Analyst, joined the firm in 2005. He earned a B.A. in Business Administration from the University of Washington. He earned his MBA from Seattle University and is a CFA charterholder. Kurt spent nine years with Columbia Management Group, Inc. as a high yield analyst and co-portfolio manager of the Columbia High Yield Fund (1996-2005). Prior to joining Columbia, he held positions as portfolio manager, analyst and trader at SAFECO Asset Management in Seattle (1991-1996). Kurt's career began as a staff accountant and auditor at Price Waterhouse (1988-1990).
Allen T. Bond, CFA, Business Analyst, joined the firm in 2007. He earned his B.S. in Business, with a Minor in Economics, from the University of Oregon. He is a holder of the right to use the Chartered Financial Analyst designation. Allen joined Jensen from Washington Mutual where he held the position of Credit Analyst. In that role, Allen performed fundamental credit analysis on investment grade corporate bond issuers for a $750 million corporate bond portfolio. Prior to Washington Mutual, he was a High Yield Credit Analyst and Trader for Columbia Management Group (2002-2005). Allen began his career as a Trader at Ferguson Wellman Capital Management (1998-2002).
Kevin J. Walkush, Business Analyst, joined the firm in 2007. He earned his B.S. in Chemical Engineering from Washington University in St. Louis and his MBA from the University of Michigan. Kevin joined Jensen from Morningstar where he held the position of Stock Analyst (2005-2007). In that role, Kevin provided equity research coverage of industrial, mining, and alternative energy stocks. Prior to Morningstar, Kevin consulted for Lux Capital where he performed due diligence on investment candidates as well as prepared university based technology for commercialization (2003-2004). Kevin has also held various finance and operational roles at Amazon.com and Weyerhaeuser.