Large Cap Balanced
Key Investment Tenets
Growth
Profitability
Franchise
Valuation
Positive revenue and earnings growth
Strong competitive position in stable, expanding industry
Positive earnings
Free cash flow positive
Established profit margins
Management focused on core business and aligned with stakeholders’ interests
Prudent use of debt and leverage
Evaluate relative to history, peers, and economic conditions
Strategy Highlights
STYLE: Balanced
INCEPTION: 1/1/1985
BENCHMARK: 60% S&P 500 / 40% Bloomberg US Int Govt Credit Index
CURRENT ALLOCATION: 60% equities, 40% bonds
35 to 45 equity securities per portfolio
Equity industry exposure not to exceed 25% and no more than 5% to any one stock, in general
Bonds are investment grade at purchase
Fully invested with a cash allocation not in excess of 5%
Investing involves risk. Principal loss is possible. Before investing, consider the investment objectives, risks, charges and expenses.