Steven Miller

Provides investment advice

Clay Finlay (CF) offers Global, International, Emerging Markets, Pacific Basin and Europe mandates. They tend to invest in the stocks of large-cap companies in the finance, health technology and energy minerals sectors. The firm first creates an investable universe, eliminating companies with highly volatile earnings or insufficient market capitalizations and free float. They then conduct further screening by looking at valuation to long-term growth rates. The firm also screens companies by sector and region. They use internally generated research on the resulting focus list. This includes visits to companies to research valuation, management, financial strength and competitive positioning. CF uses a team approach, with the investment policy committee setting macroeconomic strategy and the Chief Investment Officer and portfolio managers assuming portfolio construction and risk control duties. The firm maintains a high turnover rate.

UBS Trust utilizes independent investment management firms as advisors in the management of its portfolios. They buy and sell securities within each portfolio based on the independent advisor's recommendations. The firm uses qualitative and quantitative analysis to search for appropriate investment advisors to make the buy and sell recommendations for the portfolios. An advisor may be hired only after undergoing a rigorous screening process. That includes an assessment of an advisor's history, assets under management, investment discipline and performance consistency through market cycles. Once an advisor is included in the UBS Trust program it is continually monitored. The ongoing investment advisor review is a process that ensures that the portfolio complies with the investment parameters in its portfolio disclosure document, which states the objective of the portfolio and its investment parameters and that the advisor is conducting its duties with the same style and discipline that led to its original appointment. UBS also ensures that the advisor is applying the same or better resources and commitment for which it was originally chose and and the interests of plan participants are safeguarded. Periodically, the Trust and Investment Committee for UBS Trust meets to formally review the portfolios. On an annual basis a meeting with each advisor takes place. If an advisor underperforms, its benchmark for three consecutive quarters the meeting schedule for that advisor is accelerated.

Functions as a College/University

Functions as a College/University

Functions as an investment holding company