Mid-Cap Portfolio

Rockwood Mid-Cap Core/Value Equity Portfolio

The Mid-Cap Core/Value Equity portfolio invests in Mid-capitalization U.S. (including ADRs) stocks considered to be leaders in their niche markets, undervalued in comparison to growth in cash flow and earnings prospects and on metrics consistent with valuing competing companies in their specific economic sector.  Our objective is to invest in businesses offering appreciation opportunity above the benchmarks with less risk than those of the average company within the benchmark, Russell Mid-Cap® Value Index.

• Inception Date: March 1, 2009
• Benchmark: Russell Mid-Cap® and Russell Mid-Cap® Value Index
• Number of securities (or range): 35 – 50 securities
• Capitalization limits: Mid-Cap holdings will be defined as having a market capitalization of between
$3.5 billion and $15 billion at cost.