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 & Investment Institute and has over eighteen 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). From 2001 to 2004, he was located in British Columbia, Canada where he managed two private companies.
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) in 1988. The first 16 years of his career in financial services were in Corporate Banking with First Interstate Bank (1977-1987) and the Bank of California (1987-1993), where he covered the full spectrum of business banking situations. The last 15 years have been in key investment management positions with Jensen. Robert has been on the Investment Committee since joining the firm in 1993, and has also volunteered extensively for community and charitable organizations.
Robert Millen, Chairman, Portfolio Manager, joined the firm in 2000.
He received a BBA degree in Finance from the University of Iowa and graduated from the Stonier Graduate School of Banking, Rutgers University. Bob has over 35 years of experience in banking, investment management and financial services, previously serving as Vice President of Principal Financial Group, Group Vice President of Wellmark, Inc. and President of First Interstate Bank NA in Des Moines, Iowa.
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 and is a CFA charterholder. 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. 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.