Rita M. Mahoney

OAM is an equity manager that focuses on fundamental analysis, identifying secular trends and resulting investment themes, which is the core of their investment process. This thematic growth approach reduces the risk of market timing and directs them to superior growth potential in important industries and companies. Individual stocks are chosen because they are considered good companies at good prices. They invest in a select group of stocks that are fundamentally strong, growing companies that they feel are undervalued by the market and which fit within the firm's identified secular investment themes. Their portfolios are usually fully invested, but at times they raise appropriate levels of cash reserves. OAM believes that a selling disciple is vital to long-term investment success. They stress the need for a selling strategy aimed at maximizing profits and protecting capital. They also heavily emphasize that diversification is important and that heavy concentration in a particular industrial sector or an individual issue or fund is explicitly avoided. They are not growth investors in the strictest sense because they believe many growth stocks are overpriced. On the other hand, they are not pure value investors either, as many value stocks are cheap for very good reasons. Companies that are targeted for purchase based upon OAM's investment research and analysis will share certain basic characteristics. They generally have strong balance sheets with relatively low levels of long-term debt and a strong ROE. These corporations also have strong management teams with a depth of experience in their business. Frequently, these firms enjoy a market position protected by product patents, proprietary distribution channels or other factors that serve to restrict entry by competitors. When bonds are used, OAM invests in high-quality taxable and tax-free issues. Bonds having maturities exceeding 10 years are rarely used, to reduce the volatility in portfolio valuations.

Banyan Partners provides true customization for each client with an opportunistic investment philosophy and prudent risk management. They seek investment opportunities across a wide range of financial markets and securities. Banyan looks at the entire global financial market to find opportunities for clients. All portfolios are managed in-house. Banyan Partners specializes in both qualitative and quantitative investment analysis and portfolio construction over a broad range of investment styles including growth, value, domestic and global. Their accounts are managed primarily on a discretionary basis. The firm also offers select specialty strategies that utilize no-load mutual funds and/or ETFs.