Gordon Fowler, ceo and chief investment officer of the Philadelphia-based Glenmede Trust, with $24 billion in assets under management for accounts over $5 million, tells Barron’s Penta to “forget asset allocation.” While most wealth management firms focus on making smart asset-allocation calls at the right time—Penta’s annual asset-allocation survey is proof of that—Glenmede Trust is going back to the old-school art of picking individual stocks. At such meetings, portfolio managers and analysts put their heads together, updating one another about the equities they are following and around which they are building investment strategies. Take, for example, a client who came to Glenmede with a family limited partnership composed of 10 stocks that weren’t going anywhere and weren’t sufficiently diversified.
Electronic Arts Inc.NasdaqGS
After hours: 76.32-0.00 (-0.00%) as of 4:34 PM EDT
|Bid||75.50 x 100|
|Ask||80.00 x 100|
|52wk Range||53.01 - 79.99|
|Day's Range||75.78 - 76.53|
|Avg Vol (3m)||3,644,504|
As of 4:00 PM EDT. Market closed.