The investment objective of the Greystone US Strategic Value Fund is to seek superior long-term capital appreciation by investing in the equity securities of large-capitalized US companies.

The performance objective is to exceed the Fund’s benchmark return gross of fees. Investment performance is evaluated over a full market cycle, which generally lasts between three and five years.

Greystone has engaged Goldman Sachs Asset Management (GSAM), a division of Goldman Sachs Inc., as the investment sub-advisor to the Fund. Goldman Sachs Inc. is a leading global investment banking, securities and investment management firm, headquartered in New York. It provides a wide range of services worldwide to a substantial and diversified client base. Founded in 1869, it is one of the oldest and largest financial services firms in the world.  As the Fund’s sub-advisor, GSAM is responsible for all the day-to-day  investment management decision-making related to the Fund.

The Fund invests in a diversified portfolio of US common stocks and other related securities. The Fund is actively managed and seeks to enhance returns and control risks.  Through intensive, hands-on research, GSAM seeks to identify large-cap companies that have:

• Well-positioned businesses that have attractive returns on capital, sustainable earnings and cash flow, and strong company management focused on long-term returns to shareholders.
• Attractive valuation opportunities where the intrinsic value of the business is not reflected in the stock price.
• Business quality, conservative valuations, and thoughtful portfolio construction are the key elements of this value approach.

GSAM's Value Equity philosophy is based on the belief that all successful investing should thoughtfully weigh two important attributes of a stock:  price and prospects.  GSAM believes a company’s prospective ability to generate high cash flow returns on capital will strongly influence investment success.  Using a strong valuation discipline to purchase well-positioned, cash-generating businesses run by shareholder-oriented management teams is therefore the best formula for long-term portfolio performance.

Portfolio managers, aided by research analysts, are organized by industry, focusing on a particular area of expertise within the portfolio. Both portfolio managers and research analysts conduct first-hand fundamental research and meet on a regular basis to discuss portfolio ideas/positions. The portfolio manager responsible for the industry makes the final buy/sell decision.