Ford Foundation

Neuberger Berman BD offers clients investment solutions across asset classes, styles, capitalizations and geographies in both public and private markets, as well as multi-asset class solutions that bring them all together. For equity investments, the firm tends to focus on stocks with solid balance sheets, relatively low price-to-earnings ratios, low price-to-cash flow ratios, strong cash flows, above-average yields, sustainable earnings growth, reasonable valuation multiples relative to growth prospects, sound franchise values and significant insider ownership. They use both top-down and bottom-up analysis to select investments. In addition, Neuberger Berman uses options and futures and occasionally invests in ADRs and private equity opportunities.

TIC’s investment approach and philosophy are based on three tenets: value, patience, and bottom-up stock selection. The investment team searches for companies that meet their criteria of quality and valuation by combining time-proven fundamental analysis with original research. The investment manager applies a bottom-up, value-oriented, long-term approach, focusing on the market price of a company’s securities relative to the investment manager’s evaluation of the company’s long-term earnings, asset value and cash flow potential when they are choosing equity investments for the strategies. TIC’s managers construct individual portfolios within established parameters for the mandate as well as diversification based on these research results. Portfolio managers continually review portfolios to assess sector and industry risk exposure in response to changing market conditions.

Marathon-London is an active, long-term investor which integrates sustainability to their investment decision-making process. Their investment objective for client portfolios is to exceed the performance of a defined benchmark, typically a representative index of the countries where it invests. The firm’s investment philosophy guides a focused team of individually accountable portfolio managers who apply the capital cycle approach to seek investment opportunities across the market. Given the contrarian and long-term nature of the capital cycle, the philosophy often results in portfolios that differ from the benchmark, and average holding periods of five years or more for the securities in the portfolio. Marathon-London’s portfolios are very well diversified in terms of geography, sector and most importantly, individual stock risk - the last of these due to the larger than peer average number of individual holdings. The firm employs a bottom-up approach to select stock, evaluating sectors and companies, complemented by country.