Minority and Veteran owned Semper Capital Management, L.P. has selected Brentview’s Dividend Growth strategy for future equity oriented offerings. Northfield based Brentview is a minority owned business enterprise focused on dividend growth equities. New York City based Semper Capital was founded in 1992 and is led by Greg Parsons. Greg stated, “We are excited to partner with Brentview. We believe we have identified an equity strategy with demonstrated consistency and broad portfolio fit that we will be able to accelerate bringing this attractive investment solution to the markets.” 
In the fourth quarter, our strategy underperformed the S&P 500, our primary index, returning 7.6% vs. 9.1% for the index. For 2019, our strategy outperformed the index by 260 basis points, returning 34.1% vs. 31.5% for the index. Ultimately 2019 was the best performing year for the S&P 500 index since 2013. Progress towards a China and USA “skinny” trade deal encouraged investors to take on more risk and that became more evident as the quarter progressed. The Federal Reserve earlier in the quarter lowered the Federal Funds rate target to 1.50%-1.75% as the trade wars fears began to impact the economy. As time passed, yield curve inversion fears seemed to fade into the rear-view mirror and even cracks in the overnight Repo markets went unnoticed.
