Portfolio

Portfolio

Investment Objectives

The primary objective of SLAM is to outperform the Standard & Poor’s 500 index with a risk profile managed in accordance with the index. Since short-term market fluctuations may cause variations in investment performance, it is intended that the objectives will be achieved over a full market cycle.

Portfolio Composition

1. The purpose of the equity allocation is to provide capital appreciation in excess of the S&P 500. It is recognized that pursuit of this objective could entail the assumption of greater return variability within individual sectors. However, the diversification benefits of combining various equity components should enhance the overall portfolio risk-return profile.
   
2. Investments will be diversified within equities by economic sector, industry, quality, and size. The purpose of this diversification is to provide reasonable assurance that no single security or class of securities will have a disproportionate impact on the portfolio’s aggregate result.
   
3. In managing the equity allocation, decisions as to individual security selection, security size and quality, number of industries or holdings, current income levels, and turnover are left to broad manager discretion, subject to the usual standards of fiduciary prudence.