Introduction

There is a vast number of separate account managers in the investment industry today. They offer a wide array of money management products differentiated by the investment process, strategy, and style that they utilize to manage an account. There are basic principles that may be similar for managers investing in a particular style. For example, it is very common for growth managers to use earnings growth as a criterion for screening stocks. Although some of the criteria may be the same, the manner in which they structure their screening process and use the fundamental data can be vastly different. Typically, those managers that have identified a unique process are usually those that separate themselves from the “average” manager, either becoming a consistent top performer or, alternatively, an under performer. We seek to uncover those managers who have identified a unique investment style that is consistently successful.

As a result of our intensive manager screening process, we have created a platform of managers who possess a few common traits. The three main characteristics that we see in all of our managers are a high level of competency, a consistent level of performance, and integrity. The integrity comes from the ability of the manager to follow a strictly defined investment strategy over the course of an entire market cycle. Without the discipline and courage to continue their stated investment strategy even when it may not be in favor on Wall Street says a lot about that manager and their organization. That type of conviction and belief in what they feel gives their portfolios the best chance of garnering high returns over a long time period and is what makes our managers very successful.