About Westcore Funds

At Westcore Funds, our mission is to help our shareholders reach their long-term financial goals. We offer a diverse family of mutual funds that reflect the founding principles of the Funds’ manager, Denver Investments. Since the firm’s origin in 1958, independent fundamental research has been the cornerstone of its investment approach.

Independent Research

We believe independent fundamental research is the best way to help our shareholders achieve their long-term financial goals. Our research and financial models are designed to identify attractive investments early—to find and act on key information about companies and securities before it is widely known in the market.

Dedicated Teams of Investment Specialists

Recognizing that different investments require different approaches, we’ve organized our investment professionals into dedicated teams of specialists. Both within and across the investment teams, our professionals work collaboratively – leveraging the knowledge of individuals and the collective expertise of the group – to help achieve the goal of selecting each team’s best ideas for the Funds.

Singular Focus on Shareholders’ Success

At Westcore Funds, your success is our success. Institutional money manager Denver Investments, the Funds’ manager, is 100% employee-owned and concentrated on one business: managing money on behalf of its investors. We believe this independence and focus help align the firm’s success with the success of our shareholders.

Investment Expertise

Westcore’s diverse family of mutual funds reflects the investment strategies of its manager, Denver Investments. Each of the Funds focuses on a different asset class or strategy, and utilizes what we believe are the best investment techniques for each particular universe of securities.

Growth Equity

Our Small-Cap Growth investment philosophy is based on the belief that being early to identify companies with superior growth prospects leads to consistent outperformance over time. The team utilizes independent fundamental research to uncover what it believes are the next great growth companies.

Value Equity

Our Value strategy is based on the belief that the market rewards companies over time for their free cash flow (cash remaining after a company has paid all expenses, including what was spent for capital expenditures to support the current business) rather than their reported earnings. The team utilizes a bottom-up approach, which is grounded in independent fundamental research. Analysts seek to invest in dividend-paying companies in which they believe the future free cash flow is undervalued by the market. The team constructs diversified portfolios designed to generate attractive returns primarily through stock selection.

Quantitative Equity

Our Quantitative strategy is based on the belief that market inefficiencies offer opportunities that are best captured through a disciplined approach focused on measurable variables of stocks. The team uses proprietary, sector-specific, multi-factor models to identify companies in which to invest. The team constructs diversified portfolios designed to generate attractive returns primarily through stock selection.

International Equity

Our International Small-Cap strategy is based on the belief that investing in cash-generative businesses that trade at attractive valuations leads to consistent outperformance over time. The goal of the team’s approach is to invest in cash-generative companies at attractive valuations. Utilizing a bottom-up process grounded in independent fundamental research, the team constructs portfolios designed to generate attractive returns primarily through stock selection.

Fixed Income

Our Fixed Income strategy is based on the belief that consistently strong risk-adjusted returns are best achieved through an emphasis on income rather than short-term market timing. The team seeks to deliver attractive returns primarily through security and sector selection and, secondarily, through top-down decisions (such as increasing or decreasing exposure to interest rate changes). Using independent research, the team constructs diversified portfolios while adhering to its risk control measures.

Investment Leadership

Our investment platform is defined both by specialization and collaboration. Investment professionals are organized into six dedicated teams of investment specialists. We believe this specialization is essential to adding value through active management, empowering each team to implement the investment approach that best reflects the philosophy and conviction of the team. Both within and across our investment teams, there is a high degree of collaboration including the sharing of insights and information on securities, sectors and markets. We believe this collaboration helps ensure that our shareholders receive each team’s best ideas.

Brian-Fitzsimons-bg

Brian C. Fitzsimons, CFA

Director of Small-Cap Growth Research

  • 2005 to Present: Denver Investments
  • 2004 to 2005: Newmont Capital Ltd., Finance Manager
  • 2002 to 2004: A.G. Edwards & Sons, Inc., Equity Analyst
  • 2002: Berger Financial Group, Equity Analyst
  • 1999 to 2002: Women’s Pro Softball League, Director of Finance/Controller
  • 2000 to 2001: Marsico Endowment Fund, Portfolio Manager
  • Education: BS – Metropolitan State College of Denver; MBA – University of Denver
  • Member of CFA Institute and CFA Society Colorado

Brian C. Fitzsimons, CFA is a portfolio manager and analyst for the Westcore Small-Cap Growth Fund and the Small Cap-Growth Fund II. He is also the Director of Small-Cap Growth Research, a portfolio manager and analyst on the Small-Cap Growth team and a partner at Denver Investments. Prior to joining the firm in 2005, Mr. Fitzsimons was with Newmont Capital Ltd. as a finance manager for one year. He also worked as an equity analyst at A.G. Edwards & Sons, Inc. for two years and Berger Financial Group for one year. Additionally, Mr. Fitzsimons worked with a professional athletic league for three years as the director of finance and as the controller, and with Marsico Endowment Fund as a portfolio manager. Mr. Fitzsimons received a BS from Metropolitan State College of Denver and MBA from the University of Denver. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Fund Managed

derrick-anguilm-about

Derek R. Anguilm, CFA

Co-Director of Value Research

  • 2000 to Present: Denver Investments
  • 1999: Everen Securities, Research Assistant
  • Education: BS – Metropolitan State College of Denver
  • Member of CFA Institute and CFA Society Colorado

Derek Anguilm, CFA is a portfolio manager and analyst for the Westcore Global Large-Cap Dividend Fund, Westcore Large-Cap Dividend Fund, Westcore Mid-Cap Value Dividend Fund, Westcore Mid-Cap Value Dividend Fund II, Westcore Smid-Cap Value Dividend Fund and the Westcore Small-Cap Value Dividend Fund. He is also a co-director of Value research, a portfolio manager and analyst on the Value team and a partner at Denver Investments. Prior to joining the Value team in 2002, Mr. Anguilm worked as a wealth management analyst at the firm. He began his career as a research assistant with Everen Securities. Mr. Anguilm received a BS from Metropolitan State College of Denver. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Funds Managed

troy-dayton-about

Troy Dayton, CFA

Co-Director of Value Research

  • 2002 to Present: Denver Investments
  • 2001 to 2002: Jurika and Voyles, Equity Research Analyst
  • 1998 to 2001: Dresdner RCM Global Investors, Equity Research Associate
  • 1996 to 1998: Jurika and Voyles, Equity Research Associate
  • 1996: Citibank, Trading Support Officer
  • Education: BSBA – Colorado State University
  • Member of CFA Institute and CFA Society Colorado

Troy Dayton, CFA is a portfolio manager and analyst for the Westcore Global Large-Cap Dividend Fund, Westcore Large-Cap Dividend Fund, Westcore Mid-Cap Value Dividend Fund, Westcore Mid-Cap Value Dividend Fund II, Westcore Smid-Cap Value Dividend Fund and the Westcore Small-Cap Value Dividend Fund. He is also a co-director of Value research, a portfolio manager and analyst on the Value team and a partner at Denver Investments. Prior to joining the firm in 2002, Mr. Dayton was an equity research analyst with Jurika and Voyles and an equity research associate at Dresdner RCM Global Investors. He also worked as a trading support officer for Citibank’s Global Asset Management Department in London, England. Mr. Dayton received a BSBA from Colorado State University. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Funds Managed

paul-kuppinger-about

Paul A. Kuppinger, CFA

Quantitative Research, Portfolio Manager

  • 2006 to Present: Denver Investments
  • 2003 to 2006: Rocky Mountain Wealth Advisors, Principal
  • 2002 to 2003: Curian Capital, Vice President of Research
  • 1998 to 2002: Prima Capital, Director of Research
  • 1997 to 1998: KPMG, Research Analyst
  • 1993 to 1995: Westcap Investors, Trader
  • 1990 to 1993: Wilshire Associates, Supervisor of Performance Measurement
  • Education: BA – The Colorado College; MBA – University of Colorado
  • Member of CFA Institute and CFA Society Colorado

Paul Kuppinger, CFA is a portfolio manager and quantitative analyst for the Westcore Micro-Cap Opportunity Fund. He is also a quantitative analyst on the Value team, the portfolio manager of the Westcore Global Large-Cap Dividend Fund and Westcore Large-Cap Dividend Fund, and a vice president at Denver Investments. Prior to joining the firm in 2006, Mr. Kuppinger spent 17 years in the wealth management business, most recently as a principal, chief investment officer, and chief compliance officer at Rocky Mountain Wealth Advisors. He also has held positions of vice president of research for Curian Capital for one year and director of research for Prima Capital for four years. Prior to that, he worked for KPMG’s Investment Advisory Practice, where he built the investment and operations platform. Mr. Kuppinger received a BA from The Colorado College and MBA from the University of Colorado. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Funds Managed

john-fenley-about

John C. Fenley, CFA

Director of International Portfolio Management

  • 2000 to Present: Denver Investments
  • 1997 to 2000: Hansberger Global Investors, Inc., Vice President of Research
  • 1995 to 1997: Sun Trust Bank, Vice President and Portfolio Manager
  • 1990 to 1995: Fifth Third Bank, Portfolio Manager and Equity Analyst
  • Education: BA – Vanderbilt University; MBA – Duke University
  • Member of CFA Institute and CFA Society Colorado

John Fenley, CFA is a portfolio manager for the Westcore International Small-Cap Fund. He is also the Director of International Portfolio Management, and a portfolio manager and analyst at Denver Investments. John is a partner at the firm. Prior to joining the firm in 2000, Mr. Fenley worked for three years at Hansberger Global Investors as a vice president of research. He also was a vice president and portfolio manager at Sun Trust Bank for two years and a portfolio manager and equity analyst at the Fifth Third Bank for five years. Mr. Fenley received a BA from Vanderbilt University and MBA from Duke University. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Fund Managed

jeremy-duhon-bg

Jeremy A. Duhon, CFA

Director of International Research

  • 2004 to Present: Denver Investments
  • 2002 to 2004: El Pomar Foundation, Senior Investment Fellow
  • Education: BA – Pomona College
  • Member of CFA Institute and CFA Society Colorado

Jeremy A. Duhon, CFA is a portfolio manager and analyst for the Westcore International Small-Cap Fund. He is also the Director of International Research, a portfolio manager and analyst, and a partner at Denver Investments. Prior to joining the firm in 2004, Mr. Duhon worked as a senior investment fellow at El Pomar Foundation for two years. Mr. Duhon received a BA from Pomona College. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Fund Managed

Ken-Harris-About

Ken A. Harris, CFA

Director of Fixed Income Portfolio Management

  • 2000 to Present: Denver Investments
  • 1985 to 1999: Blue Cross and Blue Shield of Colorado, Treasurer
  • Education: BBA – University of Arizona; MBA – University of Colorado at Denver
  • Member of CFA Institute and CFA Society Colorado

Kenneth A. Harris, CFA is a portfolio manager for the Westcore Plus Bond Fund, Westcore Municipal Opportunities Fund and the Westcore Colorado Tax-Exempt Fund. He is also the Director of Fixed Income Portfolio Management and an analyst on the Fixed Income team at Denver Investments. Mr. Harris is a partner at the firm. Prior to joining the firm in 2000, he was the Treasurer of Blue Cross and Blue Shield of Colorado. Mr. Harris received a BBA from the University of Arizona and MBA from the University of Colorado at Denver. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Funds Managed

Troy-Johnson-bg

Troy A. Johnson, CFA

Director of Fixed Income Research

  • 2007 to Present: Denver Investments
  • 2002 to 2007: Quixote Capital Management, Portfolio Manager and Analyst
  • 1993 to 2002: Invesco Funds Group, Inc., Senior Fixed Income Analyst
  • Education: BS – Montana State University; MS – University of Wisconsin
  • Member of CFA Institute and CFA Society of Colorado

Troy A. Johnson, CFA is a portfolio manager for the Westcore Flexible Income Fund and Westcore Plus Bond Fund. He is also the Director of Fixed Income Research and a credit research analyst on the Fixed Income team at Denver Investments. Mr. Johnson is a partner at the firm. Prior to joining the firm in 2007, he worked as a portfolio manager and analyst at Quixote Capital Management for six years, specializing in risk arbitrage. He also performed credit analysis of investment grade and high yield issues while serving as the senior fixed income analyst at Invesco Funds Group, Inc. Mr. Johnson received a BS from Montana State University and MS from the University of Wisconsin. He is a CFA® charterholder and a member of CFA Institute and CFA Society Colorado.

Funds Managed

Culture

As an independent, employee-owned investment management firm, Denver Investments is singularly focused on the investment success of its clients. But as focused as we are on our clients, we are equally committed to our people – the firm’s most valuable asset. We offer our professionals opportunities to work and grow in a collaborative culture that values each individual’s insights and expertise. A culture that is also entrepreneurial, as with a small company, but which offers the resources of a large firm. A place where dedicated professionals are driven to be the best at what they do, in order to make a difference in our clients’ lives by helping them achieve their goals.

We are also dedicated to making a difference in people’s lives by giving back to the communities in which we work and live. The firm and its professionals strive to positively impact our communities in many ways including financial support, volunteering and partnering with non-profit organizations.

History

Founded in 1958, Denver Investments, the Funds’ manager, has a long history managing equity, fixed income and balanced portfolios for a broad array of clients. Over the years, our seasoned investment professionals have navigated diverse market conditions while developing deep expertise in the investment disciplines they manage. Our professionals have gained an in-depth understanding of clients’ unique needs and the firm has expanded its investment offering based of these needs. Our commitment to our clients has been unwavering since the firm’s inception; we are in business to serve our clients as a fiduciary, by offering them the products and solutions they need to achieve their financial goals.

history-circle-1958

Inception of Firm

Founded as part of First National Bank of Denver, Denver Investments, the manager of the Westcore Funds, begins managing Mid-Cap Growth equity and Municipal bond portfolios for individual and institutional investors.

1959

Introduction of Large-Cap Growth Equity

To expand its growth equity offering, the firm introduces a Large-Cap Growth style of investing.

history-circle-1977

Expansion of Fixed Income Offering

In response to client needs, the firm broadens its fixed income offering to include Intermediate and Long-Term bond portfolios.

1982

Westcore Funds Formed

The Westcore family of mutual funds forms.

1982-2

Introduction of Value Investing

The firm diversifies into Value investing strategies with the introduction of the Modern Value product, which evolved into what is now the Global Large-Cap Rising Dividend strategy.

history-circle-1995

Independently-Owned Firm

Investment professionals from Denver Investment Advisors, Inc. complete the purchase of the firm from the bank, resulting in a new entity and changing the ownership structure to a 100% employee-owned firm.

2000

Expansion of International Small-Cap Capabilities

The firm acquires Bee & Associates, a boutique firm specializing in the management of international small-cap equities.

2004

Broadening of Wealth Management Offering

The firm acquires Tempest Investment Counselors, Inc., a local money management firm specializing in managing assets for high-net-worth individuals.

2008

Introduction of Micro-Cap Investing

The firm introduces a quantitatively-managed Micro-Cap strategy, leveraging over twenty years of quantitative experience at the firm.

history-circle-2014

Launch of Workplace Equality IndexTM

The firm launches the Workplace Equality IndexTM and related investment strategies.

Request More Information

captcha

Are you an investment professional:YesNo