NEW YORK, June 8, 2016 /PRNewswire/ -
In his new, all-encompassing role, Mr. Wagner will manage the firm's U.S. asset management business, which includes the First Investors family of funds, as well as the general account assets of Foresters Financial™. This new position follows Mr. Wagner's appointment as Vice President and Chief Investment Officer of Foresters Financial in February 2016.
"We are delighted that Clark has accepted this new position to both lead and expand the firm's global investment platform," says Bill Lipkus, President and CEO of Foresters Financial Holding Company, Inc. "With his deep industry knowledge, impressive track record and proven leadership experience, I am confident that Clark will effectively position FIMCO for a successful and dynamic future."
"I am both excited and honored to have this opportunity to lead FIMCO," Mr. Wagner says. "I look forward to leveraging the firm's superb talent base and exceptional resources to position us as the investment company of choice for investors seeking to secure their financial futures. I am particularly grateful to work for an organization that prides itself on doing more than the average financial services provider – for individuals, their families and their communities."
Under Mr. Wagner's leadership, FIMCO will continue to respond to client needs by introducing new and innovative investment products.
"Investors today are still very cautious about the markets," Mr. Wagner points out. "They recognize that strong active management can help mitigate downside risk, while providing meaningful returns. That is why we launched our Covered Call Strategy Fund in April and have plans to roll out additional products with similar downside protection features in the near future."
During the past two years, FIMCO successfully launched four new mutual funds to further diversify its product lineup (Balanced Income Fund, Floating Rate Fund, Real Estate Fund and Covered Call Strategy Fund).
Mr. Wagner has a long history of dedication to the financial services industry and FIMCO, with 30 years of experience in the fixed income markets. Hired by Foresters Financial as Portfolio Manager for the municipal bond funds in 1991, he was appointed Director of Fixed Income in 2001. He leads the Foresters Financial U.S. investment, research and strategy, and fund accounting teams, and is responsible for overseeing management of over $15 billion in mutual fund and insurance general account assets. Over the years, he and his team have been recognized by industry publications and peer groups for the performance of many of their managed funds.
In April of this year, Barron's placed First Investors Funds 9th out of 58 fund families for the 5-year period ended 2015. While 2015 proved to be a very difficult year for the markets, First Investors Funds ranked a respectable 27th out of 67 fund families, a testament to the leadership of Mr. Wagner's fixed income team, as well as the equities team, led by Edwin Miska, FIMCO's Director of Equities.
In addition to his multifaceted roles at FIMCO, Mr. Wagner is also a member of the Investment Company Institute's Municipal Securities Advisory Committee, the Municipal Analysts Group of New York, the Municipal Forum of New York and the Municipal Bond Buyers Conference where he previously served as Chairman. He has been a guest on CNBC and Bloomberg TV, a speaker and panelist at various conferences, and a contributing author for "The Handbook of Municipal Bonds."
Mr. Wagner received a Master's degree in International Affairs from Columbia University in New York and a Bachelor's degree in History from Williams College in Massachusetts. He is an active member of the Great Swamp Watershed Association and the Nantucket Conservation Foundation.
About Foresters Financial Holding Company, Inc. (formerly First Investors)
Foresters Financial Holding Company, Inc. consists of a group of diversified financial services companies that include a registered broker-dealer, an investment adviser, a life insurance company and a transfer agent. Foresters Financial Services, Inc., a registered broker-dealer, helps everyday families reach their financial goals by offering solutions and guidance through its network of financial representatives working in 42 branch offices across the United States. Foresters Investment Management Company, Inc. is the investment adviser to the First Investors family of funds, which had nearly $11 billion in total assets under management as of March 31, 2016, and which are distributed by Foresters Financial Services, Inc. Foresters Life Insurance and Annuity Company, Inc., a New York domiciled insurance company, offers a range of insurance and annuity products and maintains an "A" (Excellent) rating by A.M. Best1. For more information, visit foresters.com.
About Foresters Financial
Foresters Financial™ is an international financial services provider with more than 3 million clients and members in the United States, Canada and the United Kingdom, and total funds under management of $34 billion2. With a history of more than 140 years, we provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals, protect their families and improve their communities. For more information, visit foresters.com.
Foresters Financial™ and Foresters™ are the trade names and trademarks of The Independent Order of Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto, Canada M3C 1T9 and its subsidiaries, including Foresters Financial Holding Company, Inc. (FFHC) and Foresters Investment Management Company, Inc. (FIMCO). Foresters Financial Services, Inc. is a registered broker-dealer and subsidiary of FFHC. Securities, life insurance and annuity products are offered through Foresters Financial Services, Inc. Insurance products are issued by Foresters Life Insurance and Annuity Company, New York, or The Independent Order of Foresters.
¹ An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning Foresters rating on July 1, 2015, A.M. Best stated that the rating outlook is "stable," which means it is unlikely to change in the near future. See ambest.com for our latest rating.
2 In Canadian dollars as of December 31, 2015.