We Believe:

• That establishing an appropriate asset mix is a key to long term success
   
• It is important to integrate both quantitative and qualitative inputs into the investment process to balance risk and reward
   
• In investing in “quality” companies with clear competitive advantages
   
• Long-term earnings growth is the most critical factor in determining superior long-term equity performance
   
• It is important to have a responsive and decisive sell discipline
   
• Adherence to a disciplined investment process is critical to achieving consistent performance