BLUE CHIP INCOME INVESTMENT STRATEGY

  • The Blue Chip Income Universe Consists Of Large-Capitalization, High-Quality, Dividend Paying Stocks – Subset Of The AW 200 Stock Universe
  • The Universe Is Evaluated By:
    •   MFRS Projected Alpha   Return on equity
        Financial strength   Free cash flow
        Dividend yield   Forecasted earnings
  • Seek To Maximize After-Tax Returns Through Stock Selection And Loss Harvesting
  • Active Buy/Hold/Sell Discipline
  • Control Risk By Broad Equity Diversification
    • Passive weightings to 24 industry groups
  • Portfolio Consists Of Approximately 55 To 65 Stocks
  • Blend Of Value, Growth And Quality Characteristics
Blue Chip Income
Gross Performance History
    For The Periods Ending 03/31/2012
      Annualized  
Investment Products/
Benchmarks		 Year
To Date		 Trailing
1 Year		 Trailing
3 Years		 Trailing
5 Years		 Trailing
7 Years		 Inception
To Date1
Alpha Windward Composite:
Blue Chip Income - Equities		  
8.3%		  
8.7%		  
19.4%		  
3.0%		  
5.9%		  
6.6%
Primary Market Index:
Russell Top 200 Index2		  
12.9%		  
9.9%		  
22.1%		  
1.9%		  
4.4%		  
5.2%
Secondary Market Indices:
Russell Top 200 Value Index2
S&P 500 Index3		  
11.0%
12.7%		  
5.9%
8.7%		  
20.3%
23.3%		  
-1.6%
2.0%		  
2.5%
4.7%		  
4.7%
5.8%
Notes (also see Performance Disclosure Notes):
1Period from 09/08/2003.
2Unmanaged index adjusted for dividends. Source: Frank Russell Co.
3Unmanaged index adjusted for dividends. Source: Interactive Data Corp.
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