Managers seek to add value, and enhance the risk-adjusted returns of their client assets, by constructing portfolios within prudent guidelines developed by the consensus of the combined investment committee we share with the Trust Company of Vermont. This pool of 11 experienced managers provides a broad range of perspective and skills. Client assets are managed by individual managers with peer oversight by the Investment Committee. The Investment Committee determines economic projections, sector weightings and asset allocations, as well as the approved list of holdings. Within guidelines set forth by the Investment Committee, managers have discretion with respect to specific client objectives.