TIA Equity Styles
Investment Policy Committee
The Investment Policy Committee (IPC) is chaired by Senior Vice President G. Michael Prugh, CPA and includes Portfolio Managers and Investment Advisor Representatives. The IPC's mission is to execute and preserve our proven investment process. The IPC meets twice a month to set guidelines for asset allocation, review portfolio performance, monitor adherence to policy quidelines and evaluate securities for purchase or sale for each of the equity portfolios.
The analysis of each equity style starts out with a database of 14,000 stocks and other investment vehicles. TIA then selects the equities which fit into the specific asset class. From those, TIA selects the "undervalued" stocks. From that group, TIA selects those which best suit the equity style at this point in time. This process eliminates all but several hundred stocks from the stock database for that particular style. These fulfill the guidelines of fitting the specific equity style, being undervalued, and, based on other criteria, the best suited to the portfolio at the time. The Investment Committee then selects the most attractive 25 to 33 stocks for each of our portfolios.
The Sell process is just as important and defined as the Buy process. TIA uses the following criteria for determing when to sell a stock:
- Stock achieves Target Price
- Fundamentals Deteriorate
- Opportunity to Buy a Better Stock
TIA has a policy of staying fully invested at all times.