We approach fixed-income investing by first evaluating the relative attractiveness of various fixed-income sectors. We are conscious of the underlying sector weights of the benchmark, but sector weights are the residual of security selection. Within our process, the fixed-income market is broken into two segments — corporate credit and structured credit — with specific evaluation variables for each area of the market. We do not believe there is a high probability of generating long-term out performance by using interest rate management as a primary investment tactic. Therefore, we do not attempt to anticipate interest rates. Instead, our focus is on top-down sector allocation and bottom-up security selection. Our fixed income team is comprised of the same team of portfolio managers, credit analysts and traders that manage fixed-income assets for the Knights of Columbus.

We approach equity investing by looking at companies in two ways — quantitatively and fundamentally. Both fundamental and quantitative inputs drive the equity investment team’s decision making. This hybrid investment approach combines sophisticated, proprietary quantitative modeling with fundamental research. It is during the fundamental review that portfolio managers collaborate to interpret the data, carefully considering what the quantitative models are indicating, within the context of current stock ranking, market environment and valuation information. Our equity team is comprised of the same team of portfolio managers, equity analysts and traders that manage equity and real estate assets for the Knights of Columbus.