Sector diversified portfolio of reasonably valued U.S. companies all of which are members of the Frank Russell 200 Mega Cap Index

Investment Objective:
Through a combination of proprietary quantitative, fundamental and behavioral valuation techniques, we seek to identify and invest in companies that are likely to be the beneficiaries of future favorable earnings announcements and upward earnings estimate revisions.

Excess Return Objective:
Greater than 200 basis points, gross of fees.

Excess return objectives are relative to an approved benchmark over a 3-5 year period. This time horizon is relevant given that this investment process can not eliminate the possibility of negative random events driving performance for short periods of time.

Tracking Error Objective:
Approximately 3-5%

Tracking error objectives are relative to an approved benchmark over a 3-5 year period. This time horizon is relevant given that this investment process can not eliminate the possibility of negative random events driving performance for short periods of time.

Benchmarks:
Frank Russell 200 Index

Market Cap Range:
The investment universe consists of the stocks in the Frank Russell 200 Index

Approx # of Holdings:
30-35 securities

Minimum Investment:
$2 million

Strategy Status:
Open to new investors