Small Cap Growth
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: Small Cap Growth
INCEPTION: 7/1/2013
BENCHMARK: Russell 2000 Growth Index
CONCENTRATED: Target Number of Holdings 35-45
DIVERSIFICATION TARGETS: 5% maximum individual security weight & 25% maximum exposure to a particular industry, in general
LOW TURNOVER: 25 to 50% annually
FULLY INVESTED: Average cash allocation of 1 to 5%
Investment Policy Committee
Gregg O’Keefe, CFA Committee Chair
Amy Noyes, CFA
John Fitzgerald, CFA
Noel Blair, CFA
Eric Meyers, CFA
Nick Koup, CFA
Investing involves risk. Principal loss is possible. Before investing, consider the investment objectives, risks, charges and expenses.