Equity Investment Process

"We are what we repeatedly do. Excellence, then, is not an act, but a habit." – Aristotle

■ We are committed to driving value added performance over the long term through a disciplined quantitative based investment process.

■ We believe that a focused, unemotional, and thorough investment process is the key to long term success.

■ We do not believe in sector rotation, market timing or driving stock specific investment decisions through macro based calls. We prefer to let the numbers speak for themselves and base our investment decisions on fact and not speculation.

■ We employ a proprietary quantitative process in the development of our strategies that focuses on three core characteristics:

1. Momentum

We look to identify companies that display significant positive momentum in areas such as estimate revisions, earnings surprise and relative price strength.

2. Discounted asset values

We use a value approach to find companies that are priced below their intrinsic value and have the financial characteristics that support a higher asset price in the future.

3. Income distribution growth

Finally, we consider candidates which have high quality financials and particularly strong cash flow to support and grow dividends in the years ahead.

Our quantitative process is highly disciplined and repeatable through all business cycles. It is supported by industry leading technology and data sources to ensure our robust valuation and investment decisions.