- Our valuation and earnings models began to be developed.
- The Enhanced Large Cap strategy was launched.
- The Large Cap Core strategy was launched.
- GCM was founded.
- GCM became the third manager in the California Public Employees Retirement System (CalPERS) Manager Development Program. In exchange for investing a portion of its assets with the firm, CalPERS took an ownership interest in GCM.
- The Small Cap Core strategy was launched.
- The Golden Large Cap Core Fund and Golden Small Cap Core Fund were launched.
- A series of transactions led to a subsidiary of Wachovia Corporation taking a minority ownership interest in GCM, while the employee owners of GCM increased their ownership to a majority share.
- The SMID Cap Core strategy was launched.
- GCM was hired as the sub-advisor to predecessors of the Wells Fargo Large Cap Core Fund which we continue to sub-advise.
- Wells Fargo & Company acquired Wachovia Corporation and its minority stake in GCM.
- We developed a proprietary methodology for categorizing stocks.
- GCM acquired the Global Strategic Products business from Wells Capital Management, a subsidiary of Wells Fargo. In exchange, GCM issued additional ownership interest to Wells Fargo, making it the majority owner of the firm. GCM employees retained a significant ownership stake.
- The International Small Cap, Global Equity Yield and Emerging Markets strategies were launched.