Our Story

Robert E. Torray established Torray LLC as a fundamental value investment management firm in 1972 building on his prior experience with institutional investors and pension plans. The firm grew in the 70’s and through the 80’s.

The firm’s first mutual fund, the Torray Fund (TORYX), was launched in 1990 making our Large Value strategy available to a broader audience.

Nicholas Haffenreffer founded Resolute Capital Management in 1998, pursuing a risk-adjusted Growth approach. This marked the launch of the Concentrated Large Growth strategy. (Torray and Resolute will merge in 2010 and the growth strategies will be known as TorrayResolute.)

With the growing demand amongst investors for income, outside of bonds, the Equity Income strategy was launched in 2005. This strategy targets the best dividend performers among our Growth and Value investments and is led by Jeffery Lent, a TorrayResolute Investment Committee member since 1999.

Seeking to exploit the potential advantages of finding stable growth in a less efficient market cap range, the TorrayResolute SMid Growth strategy was launched in 2008.

Having become friends while serving a common institutional client, Bob and Nicholas merged their respective firms in 2010, creating an institutional investment management firm focused on fundamental stock picking across the Growth-Value spectrum, utilizing concentrated low-turnover portfolios.

The TorrayResolute SMid Growth mutual fund (TRSMX) was launched to better address the evolving needs of investors seeking different vehicles through which to access the firm’s investment strategies.

Shawn Hendon joins the firm as Co-PM on the Large Value strategy and the Torray Fund (TORYX). Previous experience includes portfolio management for Lockheed Martin Investment Management Company.

Bob Torray steps down as Co-Portfolio Manager of the Torray Fund, which he started in 1990. He remains Chairman of Torray LLC.