Investment Approach

• We seek to provide a growing level of dividend income, long-term capital appreciation, and a reasonable level of current income.
• The strategy will normally invest 65% of total assets in common stocks of dividend-paying companies that we expect to increase their dividends over time and also provide long-term capital appreciation.
• The strategy employs a conservative, growth-at-a-discount investment approach with an emphasis on dividend growth. We identify companies with a sustainable competitive advantage that are likely to show consistent growth of earnings and dividends.
• We particularly favor companies that generate excess cash flow with attractive valuations and solid cash flow to support future dividend increases.