In managing portfolios, we combine both a passive as well as an active approach to structuring portfolios. The combination of a passive and active approach to structuring portfolios serves to reduce transaction costs, reduce commissions, limit turnover, and improve our ability to manage for tax efficiency. Some segments of the public capital markets are efficient enough such that index funds are a practical way to invest portfolios. Our basic philosophy is that through a combination of "core" holdings and a "satellite" portion devoted to key strategic positions, we are able to structure portfolios to more closely match the unique goals and objectives established by clients. An additional benefit to this approach, in our opinion, is an improved ability to limit downside risk and preserve upside potential.
Investors should carefully consider investment objectives, risks, charges and expenses of any investment before investing. Not all investments are suitable for clients. Investing entails risk in which clients should become knowledgeable.