Multi-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: 9/30/2003

BENCHMARK: 60% S&P 1500 / 40% Bloomberg US Int Govt Credit Index

CURRENT ALLOCATION: 60% equities, 40% bonds

  • 50 to 60 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.