Investment Strategies - Balanced
Separate Accounts
Equity
VALUATION CHARACTERISTICS AS OF FEBRUARY 28, 2010
| Montag & Caldwell | Russell 1000 Growth | S&P 500 | |
|---|---|---|---|
| Dividend Yield | 1.54% | 1.60% | 1.97% |
| P/E (Trailing) | 18.16% | 19.45% | 20.19% |
| P/E (Forward) | 15.76% | 14.90% | 14.05% |
| Price to Book | 4.17% | 4.56% | 3.30% |
| Price to Cash | 15.51% | 15.67% | 12.41% |
| Price to Sales | 3.19% | 3.77% | 2.25% |
GROWTH CHARACTERISTICS AS OF FEBRUARY 28, 2010(%)
| Montag & Caldwell | Russell 1000 Growth | S&P 500 | |
|---|---|---|---|
| 5 Year Historical EPS Growth Rate | 18.00 | 14.43 | 6.76 |
| 5 Year Estimated EPS Growth Rate | 13.96 | 14.52 | 13.78 |
| Current ROE | 22.31 | 19.95 | 13.06 |
| 5 Year Average ROE | 22.34 | 24.64 | 20.36 |
SIZE AS OF FEBRUARY 28, 2010
| Montag & Caldwell | Russell 1000 Growth | S&P 500 | |
|---|---|---|---|
| Median Market Cap | $57,045 | $4,519 | $9,030 |
| Weighted Average Market Cap | $77,514 | $73,185 | $78,002 |
5 YEAR MPT STATISTICS (RELATIVE TO THE RUSSELL 1000 GROWTH) AS OF FEBRUARY 28, 2010
| Montag & Caldwell | Russell 1000 Growth | |
|---|---|---|
| Sharpe Ratio | 0.09 | -0.06 |
| Alpha | 2.40 | 1.00 |
| Beta | 0.93 | 1.00 |
| R-Squared | 0.93 | 1.00 |
| Tracking Error | 4.47 | 0.00 |
| Information Ratio | 0.55 | 0.00 |
| Standard Deviation | 15.79 | 16.41 |
5 YEAR MPT STATISTICS (RELATIVE TO THE S&P 500) AS OF FEBRUARY 28, 2010
| Montag & Caldwell | S&P 500 | |
|---|---|---|
| Sharpe Ratio | 0.09 | -0.16 |
| Alpha | 3.87 | 0.00 |
| Beta | 0.92 | 1.00 |
| R-Squared | 0.88 | 1.00 |
| Tracking Error | 5.80 | 0.00 |
| Information Ratio | 0.69 | 0.00 |
| Standard Deviation | 15.79 | 16.12 |
TOP TEN HOLDINGS AS OF JANUARY 31, 2010
| Company | % Owned | |
|---|---|---|
| 1 | Abbott Labs | 4.6% |
| 2 | Hewlett Packard Co | 4.5% |
| 3 | Merck & Co Inc | 4.4% |
| 4 | Apple Inc | 4.4% |
| 5 | Coca-Cola Co | 4.4% |
| 6 | Wal-Mart Stores Inc | 4.4% |
| 7 | Google Inc | 4.2% |
| 8 | McDonalds Corp | 4.2% |
| 9 | Pepsico Inc | 4.2% |
| 10 | Qualcomm Inc | 4.0% |
Disclosure
Source: Vestek, National Consulting Firm, Advent/AXYS
Data as of January 31, 2010
The characteristics shown above were derived from a representative account ("Montag & Caldwell"). The Representative Equity Account is an actual, separately managed portfolio representative of Montag & Caldwell’s large cap growth strategy.
The Russell 1000 Growth Index is an unmanaged index commonly used as a benchmark to measure growth manager performance and characteristics.
The S&P 500 Index is an unmanaged index commonly used as a benchmark to measure U.S. stock market performance and characteristics.
MPT = Modern Portfolio Theory and represents portfolio return based statistical measures.
The investment services and products described on this site are for U.S. and Canadian persons only. This site is not to be construed as an offer or solicitation of any investment services or products to investors residing outside the United States or Canada.
This site is controlled and monitored from the United States of America and no representation is made that materials are appropriate or available for use in other locations.
Disclosure for Top Ten Holdings
References to specific securities are not intended as recommendations of said securities and carry no implications about past or future performance.
Fixed Income
PORTFOLIO CHARACTERISTICS AS OF FEBRUARY 28, 2010
| M&C Fixed Income | Barclays Capital Gov't/Credit | Barclays Capital Aggr | |
|---|---|---|---|
| Average YTM | 2.9% | 2.9% | 3.3% |
| Average Coupon | 4.4% | 4.2% | 4.6% |
| Average Maturity | 5.05 Yrs | 7.47 Yrs | 6.33 Yrs |
| Average Quality | AA1 | AA1 | AAA |
| Current Yield | 4.20% | 4.00% | 4.39% |
| Effective Duration | 4.13 | 5.30 | 4.60 |
DISTRIBUTION BY MATURITY AS OF FEBRUARY 28, 2010(%)
| M&C Fixed Income | Barclays Capital Gov't/Credit | Barclays Capital Aggr | |
|---|---|---|---|
| 0-1 | 5.37 | 0.00 | 0.00 |
| 1-2 | 3.18 | 16.80 | 10.70 |
| 2-3 | 7.89 | 16.20 | 16.40 |
| 3-4 | 21.66 | 9.80 | 15.50 |
| 4-5 | 27.90 | 11.90 | 16.10 |
| 5-7 | 24.00 | 12.10 | 18.90 |
| 7-10 | 6.65 | 16.70 | 12.40 |
| 10-15 | 0.00 | 2.90 | 1.80 |
| 15-20 | 0.00 | 2.90 | 1.80 |
| 20-25 | 0.00 | 2.70 | 1.70 |
| 25+ | 3.35 | 7.90 | 4.90 |
TOP TEN HOLDINGS AS OF JANUARY 31, 2010
| Company | % Owned | |
|---|---|---|
| 1 | FHLMC Gold G08332 4.5% Due 3-1-39 | 4.6% |
| 2 | U.S. Treasury Note 4.5% Due 2-15-16 | 4.4% |
| 3 | U. S. Treasury Note 4% Due 2-15-15 | 4.3% |
| 4 | U.S. Treasury Note 4% Due 02-15-14 | 4.1% |
| 5 | US Bancorp 4.2% Due 05-15-14 | 4.0% |
| 6 | FNMA 933735 5.0% Due 03-01-38 | 3.8% |
| 7 | U.S. Treasury Note 4.25% Due 08-15-15 | 3.8% |
| 8 | FNMA 930287 4.5% Due 01-01-39 | 3.8% |
| 9 | IBM Corporation 2.1% Due 05-06-13 | 3.8% |
| 10 | The Coca-Cola Company 5.35% Due 11-15-17 | 3.6% |
Disclosure
Source: BondEdge, Advent/AXYS
Data as of January 31, 2010
The characteristics shown above were derived from a representative account ("M&C Fixed Income"). The Representative Fixed Income Account is an actual, separately managed portfolio representative of Montag & Caldwell’s fixed income strategy.
The Barclays Capital Government/Credit Bond Index and the Barclays Capital Aggregate Bond Index are unmanaged indices that are commonly used as benchmarks to measure fixed income performance and characteristics.
The investment services and products described on this site are for U.S. and Canadian persons only. This site is not to be construed as an offer or solicitation of any investment services or products to investors residing outside the United States or Canada.
This site is controlled and monitored from the United States of America and no representation is made that materials are appropriate or available for use in other locations.
Disclosure for Top Ten Holdings
References to specific securities are not intended as recommendations of said securities and carry no implications about past or future performance.
