William Harris Apfel

Boston Trust Walden Co. provides banking services. The firm provides its services to high net worth individuals and their families, foundations, endowments, pension and profit sharing plans, retirement plans of municipalities, corporations, religious organizations, Taft Hartley plans, and labor unions. It also provides financial planning, tax management services, trust services, and estate planning. The company was founded in 1960 and is headquartered in Boston, MA.

Boston Trust Walden and its parent company share methods of analysis, investment research, strategies, Committee framework, and investment controls in formulating investment strategies. Across all strategies, the firm seeks to invest in a well-diversified set of companies meeting three standards: higher than average financial quality, sustainable business models, and reasonable valuation. Investment Committees determine asset allocation policy, sector allocation policy, and fixed income policy which reflects judgments balancing macroeconomic inputs and valuation.

Securities Management & Research (SM&R) focuses primarily on investments in blue chip companies. The firm complements these investments with investments in smaller, emerging, high potential companies. They use a disciplined bottom-up security selection process.For a company to be added to an SM&R mutual fund, it must meet strict performance criteria and be aligned with the investment objective of the fund. Each company is evaluated based on past performance in earnings, future growth strategies, return on invested cash flow and price relative to other companies in its industry and economic sector. SM&R uses a proprietary cash flow search engine to screen thousands of potential investment candidates to identify those with strong cash flows. This model provides a systematic, unemotional mechanism through which a true earnings picture can be developed. Companies that pass the firm's screening models are then analyzed subjectively. This process involved interaction with Wall Street analysts, speaking with company officials regarding corporate performance, strategy and competition and assessing the potential impact of macro-economic and political trends on the company's intermediate-term performance. Companies that are identified through this process that have valuations that remain attractive are presented to the investment team for the final purchase decision.