Business Details
33 Years
experience
Behavioral Finance Leadership Since 1993
Founded in 1993, Fuller & Thaler Asset Management has established itself as a pioneer in behavioral finance, blending cognitive psychological theory with conventional finance to capitalize on predictable investor misbehavior. Our team of seasoned professionals, including Nobel Prize-winning economists, brings decades of combined experience in academic research and investment management. We specialize in identifying and leveraging investor biases to create strategies that seek long-term capital appreciation across various market segments. Our approach is rooted in rigorous academic research and practical application, ensuring clients benefit from insights into both over-reaction and under-reaction in financial markets. With a focus on U.S. institutional investors, we offer tailored solutions through mutual funds and separately managed accounts.Our commitment to innovation is reflected in our proprietary methodologies, which address common behavioral pitfalls such as loss aversion, anchoring, and overconfidence. We maintain transparency in our processes and prioritize client education to foster informed decision-making. Our leadership team, including industry veterans like Dr. Richard Thaler and Dr. Russell Fuller, continues to shape the evolution of behavioral finance. Operating from our San Mateo, CA headquarters, we serve clients nationwide while adhering to the highest standards of ethical conduct and professional excellence. This dedication to bridging psychology and finance has positioned us as thought leaders in the asset management industry.
Services
Small-Cap Growth Funds
Mid-Cap Value Strategies
Unconstrained Equity Management
Micro-Cap Investment Solutions
Separately Managed Accounts
Behavioral Finance Consulting
Collective Investment Trusts
Portfolio Risk Management
Institutional Asset Allocation
Behavioral Research Services
Details
- Year established: 1993
Highlights and features
- Pioneers in behavioral finance with 30+ years of industry experience
- Nobel Prize-winning insights integrated into investment strategies
- Proven track record managing behavioral equity funds since 1993
- Team of CFA charterholders and industry-recognized experts
- Transparent approach combining academic research with practical application
Services
Behavioral Small-Cap Equity
Our Small-Cap Equity strategy targets U.S. companies with market capitalizations similar to the Russell 2000 Index. We identify mispriced securities through behavioral biases analysis, focusing on market inefficiencies created by investor over-reaction and under-reaction. This approach seeks long-term capital appreciation while maintaining risk characteristics comparable to benchmark indices.
Mid-Cap Value Management
Mid-Cap Value strategies focus on undervalued U.S. companies with market capitalizations aligned with the Russell MidCap Value Index. We leverage behavioral finance principles to identify mispriced securities where investor sentiment creates pricing discrepancies, aiming to deliver consistent returns through disciplined value investing.
Unconstrained Equity Fund
Our Unconstrained Equity Fund invests across all market capitalizations without traditional benchmark constraints. By analyzing behavioral patterns across the market spectrum, we seek to capitalize on mispricing opportunities regardless of size or style parameters, providing flexible portfolio construction for institutional investors.
Separately Managed Accounts
SMAs offer tailored behavioral finance strategies for institutional clients. These accounts provide direct portfolio transparency and customization, implementing our behavioral edge approach through individual security selection based on investor psychology patterns and market anomalies.
Collective Investment Trusts
Our CIT offerings provide behavioral finance strategies through pooled investment vehicles. These trusts implement our proprietary behavioral models while maintaining alignment with benchmark indices like the Russell 2000, offering institutional investors efficient access to our expertise in behavioral market inefficiencies.
People
Russell Fuller
Founder, Emeritus
Pioneer in behavioral finance with five decades of experience spanning academia and investment management. Former Chairman of Washington State University's Finance Department and recipient of the Graham & Dodd award.
Richard Thaler
Principal, Nobel Laureate
2017 Nobel Prize winner in Economics and co-founder of behavioral economics. Charles R Walgreen Distinguished Service Professor at University of Chicago Booth School, shaping our strategic direction since 1998.
Raife Giovinazzo
Managing Partner
Lead portfolio manager for Small-Cap and Mid-Cap Equity strategies. Former researcher at BlackRock with expertise in behavioral finance applications, holding PhD from University of Chicago and mentored by Nobel laureates.
Raymond Lin
Partner, Portfolio Manager
Manages domestic equity strategies with focus on risk management. Over 35 years industry experience including JP Morgan and Tricera Capital, holding CFA designation and advanced degrees from UC Berkeley.
Yining Tung
Partner, Risk Management
Head of firmwide risk management and investment process research. 20+ years in financial industry with expertise in quantitative analysis, holding CFA and FRM certifications, and advanced degrees from NYU and UC Irvine.
Questions
What is behavioral finance and how does FullerThaler apply it?
Behavioral finance studies psychological influences on investor behavior. We identify predictable investor biases to create contrarian investment strategies that capitalize on market inefficiencies.
What types of investment products does FullerThaler offer?
We provide mutual funds and separately managed accounts across various market capitalizations, including small-cap, mid-cap, micro-cap, and unconstrained equity strategies.
Who are the key team members at FullerThaler?
Our leadership includes Nobel laureates Dr. Richard Thaler and the late Dr. Daniel Kahneman, along with experienced portfolio managers and CFA charterholders with decades of industry expertise.
How does FullerThaler's investment approach differ from traditional methods?
We focus on exploiting behavioral biases in market participants rather than relying solely on fundamental or technical analysis, seeking opportunities in both over-reaction and under-reaction scenarios.
What is the minimum investment required for FullerThaler's funds?
Minimum investment requirements vary by fund and share class. Please consult the specific fund prospectus or contact our team for detailed information.
