There probably is not a person in Oregon who has a broader perspective on business, than former Oregon State Treasurer William Rutherford.
…He grew up in McMinnville; attended the University of Oregon; graduated from Harvard Law school; served in the military; lived in Europe for two years; returned to Portland to run a financial firm; held a seat on the Pacific Coast Stock exchange; returned to McMinnville after his father’s premature death to run the family retail business (13 retail stores in McMinnville and the upper Willamette Valley); was elected several times as the community’s representative to the Oregon legislature; and in 1984, during Governor Atiyeh’s last term, was elected Treasurer of Oregon. He was later elected Chairman of the Oregon Investment Council, managing the state’s $14 billion PERS retirement fund.
…After eight years on Wall Street Rutherford decided to move back to Oregon in 1994 with his new wife, Karen Anderegg, the former president of Clinique and editor-in-chief of Elle magazine. And for most of the last decade, Rutherford has been managing assets for private accounts.
…“One of the real advantages in my life,” says Rutherford, “is that I operated stores on Main Street and then went to Wall Street and saw how the global economy worked. Our firm had money in 22 international markets. I was chairman of a NASDAQ-traded company, and I also had a principal role in the turnaround of Europe’s 10th largest company.
“My broad experience has given me a tremendous amount of information—a tapestry to make my investment management better. I see and understand trends better than most, and that enables me to make good stock selections, which is why our portfolio returns are as strong as they have been.”
Rutherford’s business now is the business of separate accounts, creating personalized funds for individuals….
Lawrence Strauss of Barron’s writes about this booming industry in their February 20 cover story: “Separately managed accounts are one of Wall Street’s hottest products. Reason: They can be adapted to an individual’s needs and cut taxes, too. In the financial world, think of the typical mutual fund as your friendly, neighborhood diner and the separately managed account— one of America’s fastest-growing but least understood investments—as Chez Panisse.” These accounts resemble mutual funds, but with some key differences: The minimum is usually much larger than required by a fund; the fees are generally higher; and separate accounts provide direct ownership in the securities in their portfolios. In contrast, a mutual fund investor buys a stake in an entity that owns a basket of stocks or bonds.
…Separate accounts let a manager make custom accounts for individuals— something in which Rutherford excels….
