Security selection focuses on companies with improving growth prospects and earnings trends as well as reasonable valuation given the economic cycle. Target market capitalization in excess of $15 billion with minimum market capitalization of $10 billion. Returns and standard deviation reflect a well diversified portfolio of 45-65 names that results from our top-down sector/industry allocation process.

We utilize several procedures to control risk in our Large Cap Equity portfolio. On an individual stock level, we have a maximum position limit of 5%, ensuring proper diversification across different securities. For the portfolio, we impose a maximum/minimum sector overweight/underweight of +/- 1000 basis points versus the benchmark sector weight, with an overall maximum sector exposure of 30%. Our investment policies and procedures also call for a review of securities by Investment Committee that have underperformed to the benchmark on a rolling three-month basis.

Asset Class: Large Cap Equity
Investment Style: Core-Growth
Primary Benchmark: S&P 500
Secondary Benchmark: Russell 1000 Growth
Inception Date: December 31, 1992
Average Number of Positions: 45 - 65
Max Position Size: 5%
Weighted Average Market Cap: $198.442 billion
Sector Constraint: +/- 1000 basis points vs. benchmark (30%)
Target Annual Turnover: 50 - 60%
Data Provided as of: September 30, 2018