Behavioral Portfolio Management Delivers Performance

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AthenaInvest Managed Equity Portfolio Receives 5 Stars from Morningstar

AthenaInvest (, the leader in Behavioral Portfolio Management, announced today that their Athena Managed Equity Portfolio received a 5-star rating by Morningstar for its three-year performance ending 12/31/15, out of a peer group of 184 Tactical Allocation Funds.

The Athena Managed Equity Portfolio is a diversified behavioral equity portfolio that employs a unique blend of value, dividend and tactical investment strategies. The portfolio and its underlying strategies are managed using Athena’s patented Behavioral Portfolio Management process.

“We consider the latest five-star rating to be another validation of our behavioral investing philosophy,” comments C. Thomas Howard, PhD., Chief Investment Officer at AthenaInvest. “It also speaks to the effectiveness of this type of active management by delivering outperformance during a challenging period for active managers.”

Athena’s research measures specific behavioral confidence and preference indicators to identify opportunities ranging from individual security mispricing to directional market signals.

Dr. Howard is the architect of Athena’s behavioral investment approach. Building upon the Nobel Prize winning research of Daniel Kahneman, Dr. Howard is a pioneer in the application of behavioral finance for investment management and is author of the book, "Behavioral Portfolio Management."

“The popular notion in the marketplace is that people are rational and markets are efficient,” Dr. Howard says, “but in reality, there is an overwhelming presence of emotions involved in investment decisions which ultimately creates inefficiencies in the market. Those inefficiencies, when systemically analyzed, can generate terrific opportunities for superior portfolio performance.”

For media inquiries requesting more information on AthenaInvest, please contact Pamela Saunders at (415) 254-7169 or pamela(dot)saunders(at)athenainvest(dot)com. For financial professionals requesting more information, please visit or call (877) 430-5675.

About AthenaInvest Advisors LLC
AthenaInvest is the industry leader in Behavioral Portfolio Management with a patented research process built on a deep academic foundation, developed over 35 years of interaction with leading academics and institutional managers by C. Thomas Howard, PhD, CEO and Director of Research. AthenaInvest analyzes persistent and predictive behavioral factors to build innovative investment strategies including concentrated equity, high-dividend equity and global tactical equity. AthenaInvest is a sub-advisor to AdvisorShares, Princeton Fund Advisors and ICON Advisers.

Headquartered in Greenwood Village, Colorado, AthenaInvest is an SEC Registered Investment Advisor. Please visit for additional information.
© 2016 by AthenaInvest, Inc. All Rights Reserved
Protected by US Patents 7734526, 8352347, 8694406 and Singapore Patents 150371 and 184692.
Past Performance Is No Guarantee Of Future Performance.

Morningstar Ratings are based on risk-adjusted return. The Morningstar Rating for a fund is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.

The Athena Managed Equity performance for the overall and 3-year rating is out of 184 Tactical Allocation funds as of December 31, 2015. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star.

© [2016] Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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Lambert Bunker
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Pamela Saunders