Profit Investment Management

Profit Investment Management, LLC is a SEC registered investment advisory firm based in Bethesda, MD. The Firm was founded in 1996 by Eugene Profit, the current president, CEO, and portfolio manager of the firm. Profit Investment Management manages large-cap, small-cap and ESG equity portfolios.

Profit Investment Management, LLC.
TypeLimited Liability Company
IndustryAsset Management
Financial services
Founded1996
FounderEugene Profit
Headquarters
Bethesda, MD
,
United States
Area served
Worldwide
Key people
Eugene Profit
(President, CEO & Portfolio manager)
Total assets$2 billion
WebsiteProfitFunds.com

History

Profit Investment Management was founded in 1996 by Eugene Profit as Investor Resources Group. The firm began with $300,000 of capital under management. After taking over the position of portfolio manager on November 1, 1997, Eugene launched the Profit Fund, the firm's flagship retail mutual fund.[1] Under Profit's management, the Profit Fund rose 62% from late 1997 to 1999, compared with 51% for the S&P 500.[2]

On July 9, 1999, the Profit Fund was given a 5-star rating from Mutual Funds Magazine, and from then on has consistently provided rates of returns surpassing those of the S&P 500, Russell 1000, and Russell 2000.[3]

On June 30, 2000, the Profit Fund was ranked Number 2 among 232 large-cap value funds with a three-year average annual return of 23.22%.[4]

In June 2008, Profit Investment Management was named one of the nation's largest black-owned businesses by Black Enterprise Magazine, ranking 14th in the Asset Manager category. The firm had $1.358 billion under management at the time.[5]

As of December 31, 2009, the firm's asset under management reached approximately $1.7 billion.[6]

Investment Style

Profit is often cited for its unique investment strategy which combines elements of value and growth investing. Over the firm's 14-year history, the strategy has evolved from a "value strategy with a growth overlay" to a "valuation-sensitive growth strategy,"[7] which selects growth stocks deemed as mispriced relative to their peers and their own price history. The expectation of the strategy is that a catalyst will eventually incite investors to re-evaluate such stocks, thereby causing prices of these equities to rise.[8]

Profit in the Media

Profit Investment Management has appeared on several financial media sources. The firm's CEO and several of its employees have provided financial commentary on prominent financial news networks including Business Week,[9] SmartMoney, Black Enterprise,[10] Pension & Investments,[11] Investor's Business Daily,[12] Dow Jones Newswires,[13] The Wall Street Transcript,[14] Wall Street Week, Money Line, CNBC, and CNN.[15]

References
  1. "Was Breaking Up Hard To Do? - Black Enterprise". Black Enterprise. Retrieved 2016-02-22.
  2. "From NFL Defense to High-Profit Offense" Mutual Funds Magazine June 1999
  3. "Profit Fund: MUTF:PVALX quotes & news - Google Finance". www.google.com. Retrieved 2016-02-22.
  4. "Profit Value Fund Gains Yardage: African American money manager scores as No. 2 in its investment category" Black Enterprise October 2, 2000
  5. Black Enterprise "Black Enterprise Magazine Congratulates Profit Investment Management for Outstanding Business Achievement" March 2009
  6. "Profit Investment Management Annual Review" (PDF). SURS State Universities Retirement System of Illinois. 2010-02-19. Retrieved 2016-02-22.
  7. "Investment Philosophy & Process". profitfunds.com. Retrieved 2016-02-12.
  8. [1]
  9. "What These Pros Saw, What They See". www.businessweek.com. Archived from the original on July 8, 2000. Retrieved 2016-02-22.
  10. "Field of Dreams - Black Enterprise". Black Enterprise. Retrieved 2016-02-22.
  11. Pension & Investments "Profit finds mutual fund, football similar games" 6/12/2000
  12. Investor's Business Daily, Making Money in Mutual Funds "Even Before Rally, Some Value Funds Thrived: Leaders Focus Their Portfolios, Some Buy Pricey Stocks
  13. Dow Jones Newswires "Tip Sheet: Profit Value Fund Scores By Holding Winners" 4/6/2000
  14. "EUGENE PROFIT - PROFIT INVESTMENT MANAGEMENT - The Wall Street Transcript". The Wall Street Transcript. Retrieved 2016-02-12.
  15. "Eugene Profit On Cnnfn's Talking Stocks Part 5 Final". World News. Retrieved 2016-02-22.
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