Investment Objective

Our goal in the TIM Large Value portfolios is to provide superior risk-adjusted returns and consistently outperform the Russell 1000 Value Index over a full market cycle. We accomplish this by creating portfolios of companies we expect to exceed “street” expectations and that trade at discounts to our in-house calculations of fair value.

Philosophy

• Fundamental and research driven approach to identifying companies with growth rates well above the average for the value benchmark and price ratios (at purchase) that are noticeably lower than the benchmark’s average.
• Identify companies that exhibit superior business models with good growth potential
• Identify operating and competitive characteristics that provide downside protection
• Favor companies that produce positive earnings surprises which result in multiple expansion
• Attractive valuations in favor of stocks with PE multiples lower than the earnings growth rate

Portfolio Structure

• Concentrated portfolio of 25 to 60 securities
• Minimum market cap of $5 billion; no maximum market cap
• Broadly diversified by industry and sector
• Turnover range of 30-50%
• Fully invested

For performance or further information on TIM's Large Value equity product, please contact TIM at 866-846-1800.