Adding Value Through Our 5 Step Analytic Process

• Duration and Maturity Management

     – Seeking the optimal portfolio structure through:

− Global economic outlook

− Interest-rate analysis

− Technical trend analysis

• Yield Curve Analysis

− Determine how securities can best be distributed across the range of maturities

• Structure Analysis

− Identify undervalued securities with alternative structures

• Sector Allocation

− Identify sectors with greatest return potential

− Employ multiple sectors for greater diversification

• Security Credit Selection

− Select securities based on credit quality and relative valuation