SVCM will attend to the following portfolio management responsibilities:

Portfolio Structure
Asset allocation and diversification issues are of premier importance. Asset class, sector and issue diversification will be continuously reviewed internally as well as reported to clients.

Company Fundamentals
Business conditions and prospects of investments will be continuously reviewed. Replacement of assets with deteriorating fundamental conditions will be considered.

Tax Management
Portfolio assets will be managed to minimize overall portfolio tax liability. Asset holding period and cost basis will be reviewed at all times.

Portfolio Rebalancing
Assets may be bought or sold in order to change portfolio weightings. Overall portfolio risk can be reduced by this activity.

Portfolio Timeliness Management
Assets and Sectors will be reviewed for timeliness. Out of favor groups may be replaced with more contemporary themes.

Investment Overlap
Investment choices in multiple accounts will be reviewed for overlap. Portfolios will be considered together when structure is evaluated.