A conservative strategy designed to serve as the foundation for most investors’ portfolios; offered through separately managed accounts

• Objective – out performance versus a general market benchmark over a market cycle plus downside protection
• Investor profile –  seeks returns that are less volatile than the market, without giving up the opportunity for excess return versus the standard benchmark over a typical market cycle of three to five years
• Universe – highly liquid, US exchange-traded equities
  • Emphasis on companies with little or no enterprise risk favors established, mid-to-large capitalization names
  • Dual performance objective leads to a blend of growth and dividend-paying equities
• Critical stock selection factor – valuation relative to perceived opportunity
• Portfolio characteristics:
  • Focused portfolio of 20 to 35 positions
  • Position weightings typically 3 - 7%
  • Diversified across 6 or more economic sectors
  • Growth bias with S&P 500 or better yield
  • Annual turnover typically 20 – 40%
• Downloadable Reports:
  • Quarterly Review

An unconstrained strategy seeking investment opportunities across the entire stock market; offered through separately managed accounts

• Objective – superior, long-term returns investing in primarily US-based companies with significant prospects for growth over the next three to five years
• Investor profile –  seeks superior long-term returns with less concern for interim volatility
• Universe – primarily US exchange-traded equities
  • Innovative companies that are both well-managed and well-positioned to leverage demographic and secular trends
  • Established companies as well as fast growing, young and dynamic businesses
  • No market capitalization or industry bias
• Critical stock selection factor – sustainability of growth attributes
• Portfolio characteristics:
  • Focused portfolio of 20 to 35 positions
  • Position weightings typically 3 - 7%
  • Diversified across 6 or more economic sectors
  • Growth bias
  • Annual turnover typically 20 – 40%
• Downloadable Reports:
  • Quarterly Review

An unconstrained strategy, limited to 10-20 stocks, seeking investment opportunities across the entire stock market; offered through separately managed accounts.

• Objective – above average capital appreciation through a concentrated portfolio of US equities focused on the faster growing sectors of the economy
• Investor profile –  seeks superior long-term returns with less concern for interim volatility
• Universe
  • primarily US exchange-traded equities
  • Innovative companies that are both well-managed and well-positioned to leverage demographic and secular trends
  • Established companies as well as fast growing, young and dynamic businesses
  • No market capitalization or industry bias
• Critical stock selection factor – sustainability of relative growth attributes in different economic environments
• Portfolio characteristics:
  • Focused portfolio of 10 to 20 positions
  • Position weightings typically 5-10
  • Diversified across 6 or more economic sectors
  • Growth bias
  • Annual turnover typically 25-75%
• Downloadable Reports:
  • Quarterly Review

An aggressive equity strategy reflecting our view of tomorrow

• Objective – superior growth of principal through equity investments in young and entrepreneurial companies
• Investor profile –  seeks maximum return potential and has a corresponding high tolerance for volatility; typically allocates to YES as a complement to a more conservative, core allocation
• Universe
  • Innovative young intellectually property rich/scientifically driven companies with secure proprietary products and/or disruptive technologies
  • Emphasis on aggressive growth favors small- and micro-capitalization companies
• Critical stock selection factor – the potential to deliver significant value recognition
• Portfolio characteristics:
  • Focused portfolio of 20 to 35 positions
  • Position weightings typically 3 - 7%
  • Growth focus
  • Annual turnover typically 10 – 30%
• Downloadable Reports:
  • Quarterly Review