Investment Objective
Prudent stewardship of capital, with a primary objective of generating a high level of current income and secondary objectives of income growth and long-term capital appreciation. The portfolio managers pursue these objectives by investing primarily in dividend-paying equity securities.
Benchmark
Russell 3000 Value Index
Investment Philosophy
We use fundamental analysis to identify securities that offer attractive and sustainable dividends, and assess the potential for income growth over time. We focus on companies that exhibit dominant market positions, sound or improving balance sheets, strong free cash flows and management teams that are adept at both running their businesses and allocating capital.
Investment Process
- Idea Generation: Candidates for Investment
- Fundamental Analysis: Can company sustain and/or grow its dividend?
- Portfolio Construction: Range of 60-90 securities
- Risk Management/Evaluation Discipline: Security, portfolio and firm-wide levels.