ransparency

Committee

When selecting new investments for inclusion in the portfolio we use a committee process.  The investment committee consists of the portfolio manager, trader and analysts with everyone having an equal vote in the decision making process.  Our group evaluation provides a well rounded assessment from several different perspectives and eliminates reliance on one person for investment decisions.

The process starts with the issuance of a report by an analyst.  The committee members review the report and return questions to the analyst.  After reviewing the response to each question, the committee discusses the idea and a vote is taken.  Members are encouraged to vote against ideas where serious reservations exist.  A super majority approval is required to all new investments.  Once an investment idea is approved, it must also compare favorably with the existing portfolio holdings before inclusion.