A Tacoma investment firm earned national recognition by its peers this fall for its investment strategy.
“We competed against six others on a short list,” Erik Ogard, Monea’s founder, said Thursday. “We knew we beat the S&P Index over that year. That was a really hard feat for most investors.”
Monea uses a proprietary computer forecasting model to make investments for ultra-high net worth investors. It started last year with 15 “friends and family” clients with about $7 million in assets under management.
Now it has 65 clients and almost $20 million under management, Ogard said.
Monea also plans to expand its investment offerings to include a mutual fund.
Ogard says Monea is proud to be in Tacoma and to be successful here. He also wants to keep a low profile.
“We’re trying to protect our advantage. We don’t want to be too well known,” he said. “If we keep putting up these kinds of numbers, we’ll attract a lot of attention.”
Ogard recalled an article he read recently about another hedge fund manager, who cautioned: “Only the whales that surface get harpooned.”
“We’re not sure we want a national presence,” he said. “But we’re in the local market. We’re proud to be in Tacoma. We believe we’re going to become a successful local story.”