Thetford Investment Management, Inc.

Thetford Investment Management provides discretionary portfolio management and retirement planning for individuals, trusts, charitable institutions, foundations, limited liability companies and other business entities. The firm operates on a fee-only basis and manages both taxable and tax-advantaged accounts with an emphasis on tax efficiency and customized client restrictions.

Thetford follows a value-oriented, fundamental approach to equities and a price- and yield-sensitive approach to fixed income, avoiding lower-quality credits except when spreads are unusually wide. It makes substantial use of closed-end funds — buying when discounts are wide and using them to access otherwise hard-to-obtain exposures such as foreign-currency bonds — and evaluates bonds with attention to yield-to-call, callable “cushion” structures and duration risk.

Notably, a related entity has created private investments, including oil and natural gas interests, in which some clients have participated; the firm states it does not solicit or advise clients on those private vehicles and excludes such assets from its AUM. The firm also serves corporate and other business clients and uses “trade-away” bond executions to access a broader bond market, practices that are less common among similarly sized independent advisers.