Fenimore Names Yolanda Caldwell to FAM Funds Board of Trustees

Prior to Saint Rose, Ms. Caldwell served as associate director of The Research Foundation for the State University of New York and in a number of leadership roles with Prudential Insurance Company of America and at Seton Hall University.

“Yolanda is a results-oriented executive with extensive experience serving on and working with corporate and not-for-profit boards, and providing consulting services to small businesses and community organizations,” said Tom Putnam, Founder and Executive Chairman of Fenimore Asset Management. “Her business acumen and skills should benefit our FAM Funds shareholders over the long term.”

Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.03 billion in assets under management (as of July 31, 2022) through its Cobleskill and Albany offices. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning. The firm’s team focuses on investing in carefully selected quality businesses and providing its investors with highly personalized investment services.

Celebrating Shannon Almy

We applaud Shannon for receiving the “Georgia Van Dyke Award” from the Schoharie County Chamber of Commerce! She was recognized for generously dedicating her time and talent to the chamber and community over many years. It is no surprise to her Fenimore teammates that Shannon’s strong personal character was also a factor that the judges considered.

Congratulations Shannon!

Joe LeRoy Joins Fenimore Asset Management

Joe LeRoy, CFP^®, has joined Fenimore Asset Management’s growing team as an Investor Relations professional. Fenimore is an independent, Capital Region-based investment management firm and manager of the FAM Funds family of mutual funds.

Mr. LeRoy works alongside investors sharing Fenimore’s distinctive and understandable investment approach and helping them achieve their long-term financial goals. Previously, he was Vice President of Workplace Solutions at Goldman Sachs Ayco Personal Financial Management leading business development for financial wellness services to Fortune 500 clients. Mr. LeRoy has more than 18 years of financial services experience, holds the CFP^® (CERTIFIED FINANCIAL PLANNER^TM) designation, and earned his bachelor’s degree in Economics and Government from Saint Lawrence University.

“Joe’s knowledge, experience, and commitment to service and building relationships will benefit our investors,” said Liza Baran, Director of Shareholder Services. “He is an excellent and valued addition to our team.”

Founded in 1974, Fenimore Asset Management is an independent, nationally recognized investment manager with more than $4.2 billion in assets under management (as of March 31, 2022) through its Cobleskill and Albany offices. Fenimore offers both individually managed portfolios and a family of mutual funds (FAM Funds) that can be used for retirement and other long-term investment planning. The firm’s team focuses on investing in carefully selected quality businesses and providing its investors with highly personalized investment services.

Tom Putnam Discusses Succession Planning with the Albany Business Review

Both the long tenure of the other Portfolio Managers and their consistent investment approach play integral roles in the succession plan. “I always had a philosophy that the way to be successful is to find talented people who are curious and have intellectual honesty and can grow,” Tom said. “If you find those people and they have those qualities, you give them responsibilities and let them run with it.”

Things change, but Tom wanted to reiterate what will remain the same – the continued goal of investing for long-term success.

“I get letters all the time, ‘We’ve been with you for 20 years and if you weren’t fostering our assets the way you have, we wouldn’t be able to have the second home, or send our kids to college, or generate funds for our grandchildren,'” he added. “That’s the rewarding part of our businesses and why we do it.”

Marc Roberts Named Portfolio
Manager of Fenimore Mutual Fund

In 2016, he relocated to Chicago and continued his career in the investment industry before returning to Fenimore in March 2020. Mr. Roberts holds the Chartered Financial Analyst (CFA®) designation and focuses on understanding and evaluating quality businesses including, but not limited to, those in the core bank processing and payments, connectors and sensors, and specialty insurance industries. He earned a bachelor’s degree in Finance from Siena College.

“Marc made a very welcome return to the Fenimore family last year and quickly reminded us of his investment research acumen and commitment to our investment philosophy,” said Fenimore CEO John Fox. “He has demonstrated tremendous value for our investors in the past as a Portfolio Manager and we look forward to seeing his talents at work for our FAM Value Fund shareholders in the years to come.”

Mr. Roberts joins Chief Executive Officer John Fox and Portfolio Manager Drew Wilson in managing the FAM Value Fund. Fenimore’s Founder & Executive Chairman Tom Putnam has announced that he will transition away from his Portfolio Manager role in all three of the FAM Funds at the end of 2021 to concentrate fully on his role as Executive Chairman. Mr. Putnam actively guides the firm’s overall investment-research and service-focused culture.

Founded by Mr. Putnam in 1974, Fenimore Asset Management is an independent, nationally recognized investment advisor with more than $4.2 billion in assets under management, as of September 30, 2021, through its Cobleskill and Albany offices. Fenimore offers both customized separately managed accounts and a family of mutual funds that can be used for retirement and other long-term investment planning. The firm’s team of professionals prides itself on investing in carefully selected quality businesses and providing its investors with highly personalized investment services.

ALBANY BUSINESS REVIEW
FEATURES CEO JOHN FOX

2. “Don’t Pretend to Know How the Market Will Respond” — “Thinking back to February last year, if I said we’d shut down the economy and have the worst quarter of the economy since the Depression and have a lot of illness and fatalities all around the world, your reaction would be to get out of stocks completely and wait for a better time,” John said.
   
   “All of those things with the virus happened and the economy and the market has done well.”

3. “The Economy Is Not the Stock Market” — “Last May, where the economy was very tough, we were still mostly closed down and the stock market was two months into its rally.”
   
   “The stock market is not the economy. The stock market saw the government was putting a bridge under all of us to get through the other side and the market was anticipating where we are today, where things are getting better, we’re getting vaccines and the economy is growing and there’s still a good amount of stimulus.”

The article ended with John reinforcing that, of course, there are risks. It will be some time before we know the true cost consequences of the federal stimulus spending including whether it leads to a period of inflation and higher interest rates. Fenimore’s Investment Research team will be monitoring these risks while staying focused on the positive signs ahead.