SMA Investment Strategies

Strategy Highlights

• Provide attractive risk-adjusted returns
  over a full market cycle by investing in a
  diversified portfolio of dividend-paying stocks.
• Invests primarily in dividend-paying
  US stocks that are selected through a
  proprietary screening process
  developed to identify companies with
  above-average total return potential.
• A diversified portfolio of high-quality,
  dividend paying stocks represents 75% of
  the portfolio with a 25% dynamic hedge.

Strategy Highlights

• Provides risk-managed income
  sourced through dividends, interest
  income, coupled with moderate long-term
  growth of principal.
• Invests in dividend-paying US stocks
  and American Depository Receipts
  (ADRs) that share targeted valuation
  and profitability characteristics, as well
  as public funds.
• The strategy is allocated 45% to a
  diversified portfolio of dividend-paying
  common stocks, 40% to diversified fixed income securities, and 15% to a dynamic hedge.

Strategy Highlights

• Provides risk-managed income sourced
  through dividends, interest income, and
  royalty payments coupled with limited
  long-term growth of principal.
• Invests in dividend-paying US stocks
  and American Depository Receipts
  (ADRs) that share targeted valuation
  and profitability characteristics, as well
  as public funds.
• The strategy is allocated 23% to a
  diversified portfolio of dividend-paying
  common stocks, 70% to diversified fixed
  income securities, and 7% to a dynamic
  hedge.

Strategy Highlights

• Intended for investors with low risk
  tolerance and to provide portfolio
  diversification benefits when added to
  higher volatility equity allocations.
• A proprietary fixed income allocation
  strategy investing across 22 fixed
  income categories selected for their
  diversification attributes.
• Fixed income categories may include
  ETFs, closed-end funds (CEFs), and
  mutual funds.

Strategy Highlights

• Provides risk-managed asset allocation strategies across a range of risk-return profiles.
• The strategy utilized exchange traded funds (ETFs), mutual funds, and internally managed investment strategies across five models that range from conservative to growth.
• The strategy is available in both qualified and taxable versions.

Strategy Highlights

• Provides risk-managed asset allocation strategies across a range of risk-return profiles.
• The strategy invests in exchange
  traded funds (ETFs) across nine asset
  classes and is offered in five models
  that range from conservative to
  growth, as well as Mutual Funds.
• The mutual funds are selected through
  proprietary research designed to identify
  managers that have consistently
  generated returns above their respective
  benchmarks (manager “alpha”). 

Strategy Highlights

• Provides risk-managed asset allocation strategies across a range of risk-return profiles for a low minimum investment entry level.
• The strategy invests solely in exchange
  traded funds (ETFs) across nine asset
  classes and is offered in five models
  that range from conservative to
  growth.
• The models provide exposure to US
  equities, foreign developed equities,
  emerging market equities, fixed
  income, real estate investment trusts
  (REITs), master limited partnerships,
  commodities, alternatives, and cash.

Strategy Highlights

• The Quantitative Value strategy is offered in two versions – long-only and hedged.
• The long-only version remains fully invested throughout market cycles and seeks to outperform the Russell 3000 Value Index. The hedged version deploys a risk-managed approach whereby equity exposure is reduced when our macro models determine the investment backdrop has deteriorated.
• Both versions invest in a targeted portfolio of Russell 3000 stocks, selected through a proprietary screening process developed by VGA to identify companies with above-average total return potential.

Strategy Highlights

• The Sector Rotation strategy is offered in two versions – long-only and hedged.
• The long-only version remains fully invested throughout market cycles and seeks to outperform the S&P 500. The hedged version deploys a risk-managed approach whereby equity exposure is reduced when our macro models determine the investment backdrop has deteriorated.
• Both versions invest in a portfolio of S&P 500 sector exchange traded funds (ETF’s) that are selected through a proprietary screening process developed to identify industry sectors that may offer above-average total return potential relative to the S&P
  500.

Strategy Highlights

• The Style Flex Strategy seeks to outperform the HFRX equity hedge index over a full market cycle on a risk-adjusted basis.
• The strategy is designed to provide strong equity market participation during neutral to bullish investment backdrops (as determined by our proprietary macro models) with an emphasis on
  the predominant equity style that is in favor (growth or value).
• The strategy invests in a targeted portfolio of individual stocks and ETF’s that are selected to
  emphasize market preference for either value or growth stocks.

Strategy Highlights

• Provides strong equity market participation potential during neutral to bullish investment backdrops with a focus on capital preservation during bearish investment backdrops
• The strategy invests in US-listed stocks and exchange traded funds (ETF’s) and seeks to achieve its objective by combining a sector rotation strategy
  and a style preference strategy (growth vs. value).
• The sector rotation portion invests in sector exchange traded funds (ETFs) to varying percentages based on our proprietary sector models.

Strategy Highlights

• Seeks to outperform the S&P 500 Index over a full market cycle on a risk-adjusted basis.
• Strategy invests in a targeted
  portfolio of approximately fifty S&P 500
  stocks, selected through a proprietary
  screening process, to identify
  companies with above-average total
  return potential.
• Stocks represent 65% of the portfolio
  with a 35% dynamic hedge.