Investment Strategies - Large Cap Growth

Separate Accounts

 

Valuation Characteristics as of June 30, 2008

 Montag & CaldwellRussell 1000 GrowthS&P 500 Index
Dividend Yield 1.12% 1.25% 2.26%
P/E (Trailing) 23.38 19.86 17.30
P/E (Forward) 17.96 16.47 13.93
Price to Book 5.65 5.38 3.80
Price to Cash 9.09 16.15 11.88
Price to Sales 3.91 3.40 2.41

Growth Characteristics as of June 30, 2008

 Montag & CaldwellRussell 1000 GrowthS&P 500
5 Year Historical EPS Growth Rate 34.84% 31.11% 21.98%
5 Year Estimated EPS Growth Rate 18.15% 16.98% 12.95%
Current ROE 22.20% 29.30% 22.61%
5 Year Average ROE 24.38% 24.38% 20.97%

Size as of June 30, 2008

 Montag & CaldwellRussell 1000 GrowthS&P 500
Median Market Cap $48,845 $5,338 $10,801
Weighted Average Market Cap $75,186 $65,140 $88,910

5 Year MPT Statistics (relative to the Russell 1000 Growth) as of June 30, 2008

 Montag & CaldwellRussell 1000 Growth
Sharpe Ratio 0.60 0.42
Alpha 2.17 0.00
Beta 0.80 1.00
R-Squared 0.75 1.00
Tracking Error 4.86 0.00
Information Ratio 0.27 0.00
Standard Deviation 9.26 9.87

5 Year MPT Statistics (relative to the S&P 500) as of June 30, 2008

 Montag & CaldwellS&P 500
Sharpe Ratio 0.60 0.00
Alpha 2.45 0.00
Beta 0.71 1.00
R-Squared 0.56 1.00
Tracking Error 6.68 0.00
Information Ratio 0.16 0.00
Standard Deviation 9.26 10.00

Top Ten Holdings as of June 30, 2008

 Company% Owned
1Schlumberger5.1%
2Halliburton Co4.9%
3Google Inc. C1 A4.3%
4Qualcomm Inc4.2%
5Coca-Cola Co4.2%
6Apple Inc4.1%
7CVS Caremark Corp4.1%
8Procter & Gamble Co4.0%
9Wal-Mart Stores Inc3.8%
10Abbott Laboratories3.8%

Disclosure

Source: Vestek, National Consulting Firm, Advent/AXYS
Data as of June 30, 2008

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. Stock references might include non-public information.

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.