• Income and U.S. Government Bond Strategies
    3Q 2018 [Jason Brady, CFA, Lon Erickson, CFA, Jeff Klingelhofer, CFA]
    In general, we still prefer to be short and defensive, believing we’ll see more attractive buying opportunities down the road.
  • All Cap Growth Strategy
    3Q 2018 [Greg Dunn]
    Our process and approach to investing remains consistent with a focus on high-quality companies with wide economic moats and low macro dependence.
  • Municipal Bond Strategies
    3Q 2018 [Christopher Ryon, CFA, Nicholos Venditti, CFA]
    Recent events serve as a reminder of the importance of patience in volatile times and of investing in strategies that properly align with one’s investment horizon.
  • International ADR Strategy
    3Q 2018 [Lei Wang, CFA, Di Zhou, CFA]
    Having been through many of these environments in the past, we believe that our patience and diligence can be rewarded when volatility creates valuation opportunities.
  • U.S. Equity Strategy
    3Q 2018 [Connor Browne, CFA, Robert MacDonald, CFA]
    We are committed to our process and believe we remain on track toward delivering on our long-term goals.
  • International Growth ADR Strategy
    3Q 2018 [Greg Dunn, Sean Koung Sun, CFA]
    We have always managed this strategy with a long-term perspective, and while volatility and uncertainty are at elevated levels, our focus has been and remains on seeking to deliver our investors superior risk-adjusted returns through a full market cycle.

Investments in the Strategy carry risks, including possible loss of principal. Carefully consider the Strategy’s investment objectives, risks, and expenses before investing. There is no guarantee that the portfolio will meet its investment objectives.