SKBA Capital Management

As of December 31, 2019 SKBA managed approximately $699 million on a discretionary basis.

SKBA Capital Management, LLC was founded in 1989 by a team of senior professionals who joined in 1976 to form the Institutional Investment Management Group at the Bank of California. SKBA is a majority employee-owned investment adviser registered with the Securities and Exchange Commission. As of December 31, 2019 SKBA managed approximately $699 million on a discretionary basis.
The firm employs a collaborative team approach to investing which brings together over three decades of experience to investment management. SKBA’s goal is to emphasize long-term wealth accumulation while avoiding risk of a permanent loss of capital. Its managers are disciplined, value managers.

Meet the Managers

SKBA’s portfolio management team includes:

Andrew W. Bischel, CFA®, Chief Executive Officer, Chief Investment Officer

Mr. Bischel is CEO, Chief Investment Officer and a founding member of SKBA.

He has been in the industry since 1976 and joined SKBA when the firm was founded in 1989. Mr. Bischel is the lead member of the Investment Strategy Team. Previously, Mr. Bischel worked at Merus Capital Management/The Bank of California. Mr. Bischel earned his BS in Mathematics and BA in Economics from the University of California at Davis, and his MBA from the California State University at Sacramento. He is a member of the CFA® Society of San Francisco and the CFA® Institute.Mr. Rothé is President and Director of Research. He has been in the industry since 1991 and joined SKBA in 1994. Mr. Rothé is a member of the Investment Strategy Team. Previously, Mr. Rothé worked at Lehman Brothers and Kemper Securities. Mr. Rothé received his BS in International Business and his MBA with an emphasis in Finance from the University of San Francisco. He is a member the CFA® Society of San Francisco and the CFA® Institute.

Kenneth J. Kaplan, CFA®, Chairman

Mr. Kaplan is Chairman and a founding member of SKBA. He has been in the industry since 1965 and joined SKBA when the firm was founded in 1989. Previously, Mr. Kaplan worked at Merus Capital Management/The Bank of California, First Chicago Corporation and then as a partner in an investment counseling firm. Mr. Kaplan is a member of the Investment Strategy Team. Mr. Kaplan received both his undergraduate degree and MBA from Northwestern University. He is a past President of the CFA® Society of San Francisco and a member of the CFA® Institute. He has taught Finance at San Francisco State University.

Joshua J. Rothé, President, Director of Research

Mr. Rothé is President and Director of Research. He has been in the industry since 1991 and joined SKBA in 1994. Mr. Rothé is a member of the Investment Strategy Team. Previously, Mr. Rothé worked at Lehman Brothers and Kemper Securities. Mr. Rothé received his BS in International Business and his MBA with an emphasis in Finance from the University of San Francisco. He is a member the CFA® Society of San Francisco and the CFA® Institute.

Investment Approach

SKBA manages the Large Cap Value model using its ValuePlus investment strategy. Investments are selected from a universe of securities passing Azzad’s ethical screens. The strategy seeks to achieve long-term capital appreciation by investing in a diversified portfolio of large cap, undervalued securities. SKBA incorporates a bottom-up, fundamental research process that invests in companies that pass its proprietary initial valuation filters. Only companies that pass SKBA’s initial valuation filters make it to the next stage where a company’s earnings power is carefully analyzed. SKBA focuses on a company’s balance sheet and income statement strength, competitive position and overall industry prospects, as well as management’s alignment with shareholders’ interests.

SKBA employs a team approach to investing. Its research effort is centralized to ensure that investment ideas translate to each investment discipline. The investment process and expertise are vested in the organization, not just one “star” manager. SKBA have vested in the organization the expertise for the successful execution of this discipline. Its success is not dependent upon any one individual portfolio manager, analyst or trader, but is the result of a strategy team process. Hence, the portfolio management team process ensures that ideas are cross-fertilized and that investment philosophies are transferred to the next generation of employees. The success of the overall process will undoubtedly outlive the founders of the firm.

Click here to read SKBA’s disclosure brochure (ADV Part 2A)

Azzad makes no assurance that the manner in which SKBA manages its assets in the Large Cap Value model is the same as or entirely consistent with the manner in which it manages any of its other Funds or accounts. Large Cap investing involves risks including loss of principal. CFA® is a trademark owned by CFA® Institute.

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