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ORGANIZATION/MANAGEMENT TEAM- SEE PG. 21
- A. Our infrastructure is robust with clear delineations of duties for our Team's roles in :
- I. Investments
- III. Marketing/Client Services
Each Team member has dual roles to provide:
Backup & Strong coverage of duties and levels of redundancies.
We outsource parts of our Operations to:
maximize efficiency but we use CLASS A, INDUSTRY RECOGNIZED services providers that are known to provide HIGH LEVEL OF QUALITY:
- ADVENT AXYS SYSTEMS: FOR TRADE EPORTING
- ASHLAND PARTNER'S: FOR GIPS VERIFICATION
- THOMPSON REUTERS: FOR INFORMATION SYS.
- KAYE SCHOLER/SEWARD & KISSEL: LEGAL SVC.
- BDO SEIDMAN: AUDITING
- CITIBANK: ACCOUNTT ADMINISTRATIVE
RESULTS/RETURNS: SEE PGS. 2 & 7
The investment process that Dave Rosen described has produced excellent results on a CONSISTENT BASIS: see pg. 2
Since inception our average annualized gross rate of return on our U.S. large cap value equity portfolio composite has been 10.32% Vs. 4.99% for the Russell 1000 Benchmark Index and 2.67% for the S&P 500.
Both our People and our Process lead us to healthy returns not only OUTRIGHT but on a RISK ADJUSTED BASIS as well:
Lets take a look at some of those measurements of risks: see pg. 5
HIGH ALPHA & HIGH INFORMAITON RATIO INDICATES CONSISTENTLY HIGH RISK ADJUSTED RETURNS FOR EVERY UNIT OF RISK TAKEN.
* A) ALPHA = 4.87% since inception & 5.49% over the last 5yrs.
* B) INFORMATION RATIO = .58 OVER THE LAST 5YRS.
*Higher IR shows that the manager is consistently outperforming the benchmark. It also means a manager can achieve higher returns more efficiently than one with a low ratio by taking on additional units of risk.
- *C) UP-SIDE CAPTURE = 116%
- DOWN-SIDE CAPTURE = 95%
***ESSENTIALLY WE PARTICIPATE MORE ON THE UPSIDE THEN WE DO ON THE DOWNSIDE. SO EITHER WAY WE'RE ALWAYS OUTPERFORMING THE MARKET.
IR =ER/STANDARD DEVIATION
OUR PERFORMANCE IS EVIDENCED BY A NUMBER OF PERFORMANCE TRACKING FIRMS: SEE PG. 6
- 1) We are ranked #1 by Pensions & Investments
- Magazine for 2010 for all Large Cap Value Separate Account managers. They also ranked us #1 for the rolling 2005 to 2010 time period.
2) We were rated "TOP GUN" LCV manager in 2008,2009 & 2010 by PSN/INFORMAIS
3) eVestment Alliance ranked us in the top 1% for all LCV managers between 2004 through 2008 & we have consistently been in the top percentile brackets ever since.
I.GRAHAM & DODD IS STRUCTURED WITH A CLEAR DELINEATION OF DUTIES, STRONG OVERLAPPING SYSTEMS WITH HIGH LEVELS OF REDUNDANCIES THAT MAKE US OPERATIONALLY SOUND.
II. WE HAVE A PROVEN, REPEATABLE PROCESS EVIDENCED BY OUR CONSISTENTLY HIGH, RISK ADJUSTED RETURNS SINCE INCEPTION.
III. SO TO WRAP THIS UP:
IT'S OUR VIEW THAT THESE TRAITS WILL PRODUCE THE BEST POSSIBLE OUTCOME FOR PLAN SPONORS.
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