CIM INVESTMENT MANAGEMENT INC

Commonwealth Investment Management (CIM) is an SEC-registered investment advisor based in Pittsburgh, Pennsylvania, founded in 1994. The firm is organized as a Subchapter S-corporation under Pennsylvania law and has been providing investment advisory services since its inception. Andrew C. Fisher is the principal owner of CIM. The firm offers balanced, equity, and fixed-income investment management services to a broad range of clientele, utilizing a diversified, risk-managed investment approach. CIM provides both discretionary and non-discretionary investment management services, tailoring them to specific investment policies and guidelines. Their services cater to municipal pension plans, Taft-Hartley plans, corporate pension and profit-sharing plans, trusts, estates, foundations, charitable plans, not-for-profit entities, other types of funds and portfolios and insurance company funds. The minimum account size is $1.0 Million, but CIM may accept smaller accounts at its discretion. Their analysis includes fundamental analysis, studying financial performance, management strength, and industry outlook to assess the future prospects of debt and equity securities.

CIM employs several investment strategies, including equity management, fixed-income management, and balanced account management. For equity portfolios, the goal is to outperform a defined benchmark by constructing risk-managed portfolios with companies exhibiting good growth prospects at reasonable valuations. This involves staying fully invested, diversifying across sectors and industries, and selecting companies that offer growth at a reasonable value. Fixed-income management aims to add value by balancing credit and interest-rate risk against total return potential, utilizing both top-down macro-economic analysis and bottom-up credit assessment. The balanced account product combines stocks and bonds based on the client's asset allocation policy, which specifies the minimum and maximum percentage of the portfolio allowed in different asset classes. The asset allocation is actively managed based on an assessment of relative value between equities and fixed income, as well as a macro-economic analysis of the global economy. The equity portion typically includes large-cap stocks, but may also include mid-cap, small-cap, and international equity exposure, potentially through ETFs. The fixed income portion is invested in individual bonds.

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