Steve K. Mergler

Founded in 1996 by John Vann, Rushmore Investment Advisors, Inc. is a registered investment advisor located in Plano, Texas. The firm is a subsidiary of JVC Financial LLC. They manage pure growth portfolios for institutions, endowments, foundations and high net-worth individuals

Northstar Capital Management specializes in investments in US large-cap growth companies. The firm employs four investment strategies: Quality Growth Equity, Core Equity, Core Fixed-Income and Municipal Bonds. Though not limited by sector, Northstar tends to invest in the stocks of companies in the technology services, health technology, electronic technology and consumer non-durables sectors. The firm maintains a medium turnover rate.Northstar's Quality Growth Equity strategy uses bottom-up quantitative and qualitative research to identify US companies with high earnings growth. Their quantitative research begins with a screen of 900 US exchange-traded companies with market values greater than $5 billion. They look for companies with stable, above market earnings growth, above market return on equity and attractive relative valuations. Their five specific quantitative criteria include: past earnings per share growth, future projected earnings per share growth, p/e to projected earnings per share growth, return on equity and trailing 4 quarters earnings per share. Companies meeting Northstar's quantitative criteria are then subjected to qualitative evaluation that includes superiority in management, products, distribution, access to markets and business plan implementation. Equity accounts typically hold 25 to 35 positions. A position may be sold if fundamentals are disappointing, there is a new or better opportunity, there is a loss of competitive advantage or for portfolio reallocation.The firm's Large Cap Core Equity strategy employs a bottom-up process that combines multi-factor quantitative stock screening process and fundamental research. The quantitative process identifies a reduced universe of companies with market-cap greater than $1 billion, strong earnings momentum and reasonable valuations. They then perform fundamental research to identify companies with strong financials and positive growth characteristics. Portfolios typically hold more than 35 stocks. A position will be sold if there is a loss of earnings momentum, there is concern over a company's fundamentals, stock price performance deteriorates and if there is excessive valuation.Northstar's Core Taxable Fixed-Income strategy invests across the yield curve and places emphasis on protecting client principal, constructing portfolios with attractive yields and generating a competitive total return. To manage risk, the firm monitors credit risk, duration risk, interest rate risk, economic downgrade risk and default risk. They build portfolios with an emphasis on structure, composition and relative yield and avoid timing interest rates. Northstar's credit selection process begins with a universe of ideas having a market-cap of $5 billion or more and earnings growth ranking in the top 25% of companies. This universe is screened to identify companies with a favorable revenue, debt-to-capital, cash flow from operations (cfo)-to-debt and interest coverage profile. They then look for companies with transparent and strong business models, management with debt friendly track records and a competitive market/product position. Northstar typically invests in agency, asset-backed, corporate, mortgage and US Treasury bonds/notes.Northstar's Municipal Bond strategy invests across the yield curve with emphasis on protecting client principal and maximizing income flow. They build portfolios with an emphasis on structure and relative yield. Portfolio structures include ladders, bullets and barbells. Northstar favors a laddered approach to portfolio structure. They consider sector yields, volatility and the economic environment, as well as the investment's risk, liquidity and quality. Their tax-exempt strategy focuses on high and predictable cash flow and it attempts to be duration neutral at plus or minus 10% of the client's stated benchmark. Portfolios are structured to overweight liquid, high quality bonds rated AA or better.

In 1951, marking the 25th anniversary of the founding of Loomis, Sayles & Company, Robert H. Loomis sent a clear message to all clients. Click here to read. More than 60 years later, I echo the words of our founder when he said, "we wish to express our gratitude and appreciation to those who, through these difficult years, have helped us to the success we have enjoyed. We look to the future with humility but with confidence." The biggest difference in today's world is that our pace is faster and our playing field is larger. Given this scenario, our job at Loomis Sayles is to keep a laser-like “eye on the ball” particularly during times of uncertainty and volatility, where both risk and opportunity reside. My goal is to ensure that Loomis Sayles remains a broad-based, house of excellence trusted by our clients and recognized for our record of: Attracting and retaining exceptional investment professionals Providing caring, highly ethical and informative services to our clients Producing strong investment performance across our full stable of products The last five years have been a time of tremendous innovation for us. We have grabbed hold of opportunities presented by market upheaval to unearth some tremendous investments, build off our base and empower people to construct and test new capabilities. By integrating these with existing capabilities, (quantitative research, deeper risk analysis, greater macro-economic firepower, absolute return-oriented strategies and securitized capabilities), I believe we are a better investment firm than ever. On behalf of all Loomis Sayles employees, thank you for placing your confidence in us. From my personal vantage point, I am more confident than ever about the future of our company and the skills and passion of our people to deliver excellence in their work. We look forward to serving your investment needs as we face the ever-changing future together.