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Investment Objective

Preserve capital from permanent loss during periods of economic decline while providing a return above the market average in the long term.

Investment Philosophy

Portfolio construction driven primarily by company quality and valuation

• “Bottoms up” approach
• Long-term investment horizon
• No restriction on company size

Client Profile

• Best ideas portfolio
• Benchmark advantage to a wide variety of indices
• Low turnover approach

Portfolio Manager

Nicholas Tompras, CFA^®
Manager Since: 1999
Industry Experience: 19 years

Key Highlights

• Absolute return strategy
• Fundamental valuation based strategy
• Positioned to protect from steep market declines
• Inception Date: April 2000