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Equity Portfolio Our equity investment philosophy utilizes a value and earnings growth momentum approach. Our financial computer program screens over 1,000 companies to help identify potential investments. Securities available for purchase have the following characteristics: a low relative Price to Earnings ratio, strong financial quality, above average historical and future growth rates, low debt to equity, and a high probability of price appreciation because of current earnings momentum. PCM is a large and mid-cap growth investor with a strict limitation on the allowable Price to Earnings ratio. Our top ten stock holdings as of 12/31/05 are: Ecolab Inc., AMGEN, Exxon-Mobil, Walgreens, Target, AFLAC, Medtronic, Ingersoll-Rand, Genuine Parts, and Lowes’ Companies. ** For more information on our equity portfolio, please tab to our contact page. Fixed Income Portfolio Our fixed income investment philosophy is designed to provide positive rates of return in various economic environments as well as reduce the volatility in large portfolios by seeking a more conservative investment mix. Portfolios are structured in the 1 - 10 year maturity range with an emphasis placed in the 3 - 7 year maturity sector. The maturity structure of the portfolio will be adjusted based on our interest rate outlook. This philosophy has been in place since 1981 and has consistently generated positive rates of return. For more information on our fixed income portfolio, please tab to our contact page. Balanced Portfolio Our balanced investment philosophy is designed to provide an overall approach to the asset allocation decision. In our balanced approach, we determine the client's investment objective and structure the portfolio accordingly, whether it's 60% equity/40% fixed, 40% equity/60% fixed, or even 20% equity/80% fixed. During periods of weakness in the market, we may slightly reduce the equity component and raise the fixed income portion of the portfolio. This provides a purchasing opportunity for PCM when the market outlook is more favorable for equities. The components that represent our traditional equity and fixed accounts, portray the asset mix between stocks and bonds in our balanced accounts. For more information on our balanced portfolio, please tab to our contact page. ** The top ten equity holdings list does not constitute a specific recommendation, nor does it represent performance or profitability as to any particular person or client. As a result, it should not be assumed that any recommendations made in the future will be profitable or will equal the performance of the securities in this list. |
PORTFOLIO CAPITAL MANAGEMENT
5950 Fairview Road, Suite 610, Charlotte, NC
28210
704-552-0073 Fax 704-552-8757
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