Michael T. Welter

Columbia Management Advisors invests in the US public equity and debt markets. They focus on growth and value stocks of small-cap, mid-cap, and large-cap companies selected on the basis of a top-down approach and thematic and fundamental analysis with a bottom-up stock picking approach to create their equity portfolio mix. The firm benchmarks the performance of its equity portfolios against the S&P 500 Index. Columbia Management Advisors invests in short-term, intermediate-term, and long-term high-quality debt instruments including treasuries, mortgage-backed securities, municipal bonds, agency bonds and asset backed securities to create their debt portfolio mix. The firm uses a combination of their equity and debt strategies to manage balanced portfolios and benchmarks performance against the S&P 500 Index and Lehman Aggregate Index. Though not limited by sector, the firm tends to invests in the stocks of large-cap companies in the technology, energy minerals and consumer non-durables sectors. They maintain a low turnover rate.

Engemann Asset Management specializes in growth stock investments. Their portfolios include large-cap growth and balanced growth. Engemann's Large-Cap Growth strategy seeks earning growth rate greater than the Russell 1000 Growth Index and a risk profile close to the Russell 1000 Growth Index. They invest in large-cap companies with consistent, superior earnings growth, leading market shares and strong management teams. Companies should be financially strong, have positive annual cash flow and lower earning volatility than their peers. The firm's fundamental analysis includes extensive contact with companies' management teams, competitors and suppliers. It also includes an analysis of cash flow, earnings volatility and ROE. Engemann also employs proprietary, detailed earnings models and growth projections. They will sell a position when a company misses the articulated fundamental guideposts or when valuations become extended. They will review a position if there is a 20% absolute price drop. A break in a technical pattern may prompt a reduction in a position. Engemann's Balanced Growth strategy is similar to their large-cap growth strategy. Portfolios will contain 30% to 50% bonds, most of which are US Treasuries. In general, the firm tends to invest in US companies in the electronic technology, health technology and technology services sectors. Engemann maintains a high turnover rate.

TCW maintains a value-oriented investment approach and their investment process focuses on preserving capital for their clients. The firm’s integrated top-down and bottom-up investment process emphasizes global and multi-sector diversification to generate attractive risk-adjusted returns from income and capital appreciation. They offer a range of investment strategies across fixed income, equities, and emerging markets.

CMIA manages no-load mutual funds and separate client-focused equity, fixed-income and balanced portfolios. The firm invests in the growth and value stocks of small-cap, mid-cap and large-cap domestic and international companies. Their investment strategy combines a top-down approach and thematic and fundamental analysis with a bottom-up stock selection process. CMIA’s fixed-income investments focus on short-term, intermediate-term and long-term high-quality debt instruments including US Treasuries, MBS, ABS, municipal bonds and agency bonds. Their balanced investment approach is a blend of their equity and debt strategies. Portfolios are benchmarked against the S&P 500 Index and the Barclays Capital Aggregate Index (formerly the Lehman Aggregate Index).

Functions as a College/University