Concept

Our investment strategy draws on ISI's proprietary research to anticipate interest rate changes, and we actively manage our clients' portfolios to benefit from these changes. In recognition of the value of Ed Hyman's forecasts, Institutional Investor has named Ed its "First Team" Economist for each of the last 29 years. ISI holds that the key to successful fixed income returns is a disciplined approach to duration management using a maturity range that centers on intermediate term securities. The chart below demonstrates our approach to duration management:

ISI also firmly believes that adapting to changing market conditions is critical to long term success in equity investing. L.A. Capital Management manages the equity portion of the ISI Strategy Fund in its role as sub-advisor to the Fund. The equity portion will invest in a portfolio of securities intended to equal or exceed the performance of the Wilshire 5000 Index. L.A. Capital employs a proprietary model, which identifies factors that will influence the equity market. Under normal market conditions, ISI will move the Fund's assets among the basic positions described in the tables below: