Equity

Current Equity Income Strategy

The strategy pursues an attractive total return relative to the Russell 1000® Value Index by focusing on strong companies that are expected to deliver consistent dividend increases.

Why dividend growers?

Dividend growth often signals other favorable qualities in companies. A focus on dividend growers has historically produced strong risk-adjusted returns over a full market cycle.

Consistent capital allocation

The team expects each owned company to make disciplined capital allocation decisions, which can lead to higher and more consistent returns.

Pure dividend-focused approach

The team’s fundamental research focuses on ensuring each company’s dividend is dynamic, durable, and decisive.

Investment approach

Pure dividends: Dynamic, durable, decisive

Companies with a history of rising dividends have significant signaling qualities.

Consistent dividend growth often signals sustainable competitive advantages, financial strength, and the willingness of company management to return capital to shareholders.

Sustainable underlying business performance is integral to consistent returns.

Using fundamental research to identify strong companies and holding those businesses through full market cycles has historically led to positive-performing investments.

Diversified, focused portfolios can achieve long-term risk-adjusted returns.

Portfolios of companies with the ability to regularly raise dividends can provide consistent returns and downside risk management during periods of market stress.

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Composite performance

Average annual returns

(as of 9/30/2024)

2/1/2023

	1M	3M	YTD	1Y	Inception
Composite (Gross)	1.24	7.39	13.40	23.07	12.33
Composite (Net)	0.99	6.57	10.84	19.37	8.98
Benchmark	1.39	9.43	16.68	27.76	13.58

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Calendar year

	2023
Composite (Gross)	7.05
Composite (Net)	4.13
Benchmark	5.97

Performance is historical and does not guarantee future results. For more information, please refer to the GIPS composite report found in the documents section.

Our team

Meet the investment team

The team believes companies with a history of consistently increasing dividends have significant signaling qualities. We expect those we own to make disciplined capital decisions—aiming for higher, more consistent returns.

View Team

Chris Hanaway

Portfolio Manager

Key risks

Market risk: Security markets are volatile and may decline significantly in response to adverse issuer, regulatory, political, or economic developments with different sectors of the market and different security types reacting differently to such developments.

Equity securities risk: Equity securities fluctuate in value and price in response to factors specific to the issuer of the security, such as management performance, financial condition, and market demand for the issuer's products or services, as well as factors unrelated to the fundamental condition of the issuer, including general market, economic, and political conditions.

Small-cap securities risk: If a strategy invests in the securities of smaller-capitalization companies, these securities tend to be more volatile and less liquid than those of larger companies.

Foreign securities risk: If a strategy invests in the securities of non-U.S. issuers, these investments may be subject to lower liquidity, greater price volatility, and risks related to adverse political, regulatory, market, or economic developments and may be affected by changes in foreign currency exchange rates.

Investors should know that this strategy deployed may be subject to additional investment risks. For important information about the investment manager, please refer to Form ADV Part 2.

We look forward to helping you with your investment needs

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