Stephen M. Wellman

Liberty Ridge focuses on domestic equities. Liberty Ridge Capital believes it adds the greatest value over all market cycles by consistently applying a time-tested, bottom-up stock selection process that combines the use of rigorous fundamental research with quantitative techniques. Liberty Ridge Capital seeks to select securities that offer the most attractive trade-off between valuation, near-term dynamics and long-term growth. They believe that superior investment results can be achieved by investing in companies that possess an attractive valuation relative to the broad market and peer group, display positive near-term business prospects and exhibit healthy long-term earnings growth potential. LibertyRidge employs a process that defines a manageable universe of stocks by utilizing proprietary quantitative screens to narrow their focus. Fundamental research further narrows the team's top investment candidates and then a portfolio is constructed based on process and account parameters. In seeking to identify attractive investment opportunities for the Focused, Large Cap, Mid-Cap and Small Cap Funds and the blend portion of the Strategic Small Company Fund, Liberty Ridge first creates a universe of companies whose current share price seems lower than their current or future worth. They consider factors like a company's earnings power vs. its current stock price, dividend income potential, its price-to-earnings ratio vs. similar companies, competitive advantages, like brand or trade name or market niche, management team, and current and future business prospects. Lastly, using their own fundamental research and a bottom-up approach to investing, Liberty Ridge identifies those companies which are currently out of market favor but have the potential to achieve significant appreciation as the marketplace recognizes their fundamental value.

Alternative investment manager

Provides auditing, financial advisory and tax consulting services

Functions as a College/University

Acts as Open-End Investment Fund/Unit Trust

Echo Point Investment Management is a global growth equity investment firm that seeks to: (1) construct high-conviction, fully-diversified portfolios of high-quality growth companies and (2) outperform the benchmark by 200 to 300 basis points (annualized) over time. Their fundamental growth equity investment process is a disciplined, repeatable process that seeks to identify high-quality growth companies against a 3 to 5-year investment horizon, while actively monitoring and managing risk. In particular, Echo Point seeks to identify well-managed managed companies that have been successful, as the firm believes these companies generally tend to continue to be successful. The firm's investment approach is also based on the belief that minimizing losses is critical to maximizing returns. Echo Point's investment process is based on a consistent, bottom-up security selection process that is based on rigorous fundamental research. Prior to being included in a portfolio, the following characteristics of each potential investment are evaluated: (1) the company's market position (2) the company's strategy for future growth (3) the company's sustainable competitive advantage (4) the strength of the company's balance sheet and (5) the reasonableness of the company's valuation. In addition to third-party research, Echo Point's portfolio managers and analysts meet with virtually all of their portfolio companies' management teams to qualify company-specific drivers. Echo Point's investment process begins with an initial screening referred to as 'Alphascore.' This screen reduced the universe of stocks of 30,000 to 300. The firm uses fundamental analysis to identify key investment themes. Portfolios are constructed which consist of 60 to 80 high-quality mid-cap and large-cap stocks from every region of the world. With the objective of delivering strong relative performance, Echo Point executes a consistent growth style, along with sector, region and emerging market collars. Their strategy is available as a separate account in local shares or ADRs.