Blake L. Scott

Following the tenets of clients' investment policy statements, GCI develops an asset allocation strategy. The next step in their portfolio management process is the actual selection of securities. Before including a specific security in their universe of investments, they make two separate judgments to fully understand its potential risk and reward. The first analysis is a fundamental one to determine if the security is a sound and solid investment. The second judgment involves a quantitative analysis to determine whether the security is priced appropriately. In constructing and maintaining bond portfolios, GCI is guided by clients' unique investment objectives, income needs, time horizon and risk/reward parameters. The firm seeks issues in the Government, corporate and municipal markets that have the desired quality, coupon level, term-to-maturity and important indenture provisions to suit clients' profiles. To reduce interest rate volatility and assure optimum rate of return across portfolios, bond maturities are staggered of laddered over consecutive years. GCI also offers an option income program.