EQUITY INCOME

KEY INVESTMENT ATTRIBUTES

DIVIDEND FOCUS We invest in dividend paying companies with the objective of achieving a portfolio yield that exceeds that of the S&P 500.
DIVERSIFICATION We believe our portfolio strikes an ideal balance between diversification, concentration and income. A diversified portfolio avoids a heavy bias toward high yielding sectors while providing broad economic exposure.
HIGH QUALITY We identify companies possessing a blend of good business models, attractive valuations and growing dividends.
RISK We think of risk in terms of the potential for permanent loss of capital. Our goal is to achieve below average volatility through an emphasis on high quality companies.
PATIENCE We believe our approach will be successful over the long run, but recognize it may fall out of favor from time to time. We are committed to the consistent execution of this philosophy and will not waver in reaction to short-term market trends.

PORTFOLIO CONSTRUCTION PARAMETERS

The Standard & Poor's 500 is a basket of 500 stocks weighted by market value, and its performance is thought to be representative of the stock market as a whole. The Russell 1000 Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It is not possible to invest directly in the S&P 500 or the Russell 1000 Value.