Cole P. Vastine

Provides legal services

Davidson Trust Co.'s equity and fixed-income investment disciplines provide clients with a conservative, long-term approach to investing. Davidson Trust is a GARP investor. Their research focuses on successful companies with solid competitive positions, sound financial controls and the outlook for above average earnings and sales growth over a three to five year time horizon. After identifying a company, they apply a separate methodology to determine the appropriate valuation of the stock of the company. They seek to purchase attractive companies at attractive prices. This continuing focus on valuation levels is useful in initiating positions and in signaling the need to trim or sell positions. Though not limited by sector, Davidson Trust Co. tends to invest in the stocks of US large-cap companies in the health technology, technology services and electronic technology sectors. The firm maintains a very low turnover rate. The firm's equity investment process seeks companies with at least $1 billion in market-cap and annual sales of at least $200 million. Next, they focus on both qualitative and quantitative aspects of a company. They we examine companies for industry attractiveness, market dominance, quality of management, pricing power and investment research and development. Davidson Trust also sets minimum hurdles for earnings per share growth, sales growth, return on equity and projected earnings per share growth. This process identifies approximately 120 stocks, which they refer to as the Davidson Master List. Fixed-income investments are selected for appropriate maturity, sector exposure and call protection in the context of a client's time horizon and tax circumstances. Portfolios are structured to meet each client's objectives and are monitored for continuing suitability as changes occur in the capital markets. The credit quality of each fixed-income investment is evaluated prior to purchase and on a continual basis. Economic indicators, industry prospects and structure for each bond issue are examined regularly to determine the safety of principal and interest. The firm structures bond portfolios within the context of a defined market benchmark to achieve a reasonable return while minimizing market risk and price stability.

FTCI-PA provides a broad range of investment services for clients through separately managed portfolios that represent a variety of investment styles. Their portfolio managers invest across all asset classes, sectors and industries. Active risk management has always been core to the firm’s investment management approach, and their processes have been designed to help maintain appropriate risk/reward balances relative to client objectives through variable market environments.

Functions as a College/University