Palouse Capital Management Inc., a Spokane-based boutique asset management firm, says its Diversified Income Strategy has earned recognition—for the eighth time—as a top performer in the PSN Top Guns list for the 12-month period that ended Sept. 30.

The Top Guns list is a quarterly ranking of investment managers that’s used by institutionalist asset managers and investors nationally. It’s produced by Informa Investment Solutions, a large White Plains, N.Y.-based company that provides wealth management tools and other related support services to financial institutions and investment professionals.

Investment strategies receive PSN Top Guns honors reflect the top 10 performers in more than 50 style “universes” and six proprietary “star categories.” PSN’s star categories differ from each other based on longevity, risk, and adherence to particular investment styles.

Barry Menne, Palouse Capital’s president, says this is the eighth time the firm has received recognition for its Diversified Income Strategy since the strategy was established Nov. 1, 2010. 

Also, Menne says, this is the third different equity strategy to receive recognition on the Top Guns list, the others being its Large Cap Value Strategy and its Small/Mid Cap Strategy.

“It really is a testament to the strong team we have here,” he says. 

Palouse Capital’s portfolio management team includes Bryn Harman, a chartered financial analyst (CFA) and its chief investment officer; Spencer Shelman, also a CFA; and Ken Roberts. Also working with the team is Chris Miller, who Menne says its dedicated trader.

Roberts founded the firm in 1994 under the name Ken Roberts Investment Management Inc. and was its president for many years, until selling the asset of the business to Menne and Harman in the fall of 2013. 

The new owners changed the firm’s name to Palouse Capital at the beginning of 2014.

Roberts continues to work at the firm full time and serves as chief investment strategist.

Menne says the Diversified Income Strategy, which Roberts was instrumental in starting, is designed for clients seeking income from diversified asset classes, which could include fixed-income securities, common equities, preferred stock, and real estate investment trusts, among others. 

However, it also strives for capital appreciation by investing in securities that the Palouse Capital team thinks are fundamentally undervalued, he says.

Regarding Palouse Capital’s other recognized strategies, large cap refers to companies with a market capitalization of more than $5 billion.

Meanwhile, mid cap and small cap refers to companies with market caps of $1 billion to $5 billion and $250 million to $1 billion, respectively. Market cap is the total value of the shares of a publicly traded company, determined by multiplying the share price and the number of shares the company has outstanding.

Palouse Capital moved in August of 2015 from the Washington Trust Financial Center, located downtown at 717 W. Sprague, to a 3,000-square-foot building its owners bought at 2026 N. Washington. It has seven full-time employees and currently manages about $320 million in assets for more than 700 clients nationally, and Menne says about $120 million of those assets are invested in its Diversified Income Strategy.