Please ensure Javascript is enabled for purposes of website accessibility
Home / News and Trends / Economy’s woes do not stop gains for Karpus assets

Economy’s woes do not stop gains for Karpus assets

Karpus Investment Management Inc.’s 2001 performance beat popular benchmarks.
The results led the Pittsford-based firm to post a 15 percent gain in assets under management from $495 million in 2000 to $570 million in 2001.
“Passing the half-billion (dollar) mark is something I have looked forward to since Jo Ann Van Degriff and I founded the firm in 1986,” said George Karpus, CEO and president.
Over the past 15 years, Karpus Investment has experienced an average annual growth in assets of 28 percent.
The firm also has added six employees to its staff of 25 since 2000. In addition, the firm recently more than doubled its office space, relocating in October to a new 10,000-square-foot office building in Perinton.
Overall, Karpus Investment earned a 4 percent rate of return on all assets under management for 2001, performing better than comparable benchmarks.
Breaking down the firm’s performance, the equity composite dropped 4 percent while the Standard & Poor’s 500-stock index was down 11 percent.
Its three hedge-fund partnerships returned 5 percent to 6 percent last year. All invest exclusively in international equities that performed better than the Europe, Australia and Far East index’s decline of 22 percent.
In addition, Karpus Investment’s municipal bond accounts earned 9 percent, compared with 5 percent for the Lehman Municipal Bond index.
“Our investment philosophy is to control risk and exploit market inefficiencies,” Karpus said. “The payoff for our clients becomes even more apparent in challenging years like 2001.”
([email protected] / 585-546-8303)

01/25/02 (C) Rochester Business Journal

x

Check Also

Marc Rippen, Alertgy’s CEO

Luminate spotlight: Alertgy empowers diabetics with wearable wristband device (access required)

Alertgy is one of 10 startups from around the world working with the Luminate NY accelerator at NextCorps in downtown ...

Best Places to Work For DEI honorees announced (access required)

The Rochester Business Journal has announced the honorees for the inaugural Best Places to Work For DEI awards. This regional ...

Pulitzer Prize-winning journalist Nikole Hannah-Jones, creator of The 1619 Project and a staff writer at The New York Times Magazine, will headline RIT’s event.

The 1619 Project creator to speak at RIT’s MLK Jr. Celebration   (access required)

Pulitzer Prize-winning journalist Nikole Hannah-Jones, creator of The 1619 Project and a staff writer at The New York Times Magazine, will headline RIT’s ...

Open Door Mission’s Miller Building facility complete (access required)

Open Door Mission's $6.8 million redevelopment of the once-vacant Miller Building into 24 supportive housing apartments on West Main Street ...