We seek to outperform the MSCI EMU index over a three to five year market cycle by investing in Euroland equity securities that we consider undervalued relative to their growth potential.

We believe that the market does not always reflect the true value of a security and that certain stocks whose price-to-cash earnings ratios are low relative to their long-term growth rates can produce superior investment returns over time.

The investment decision-making process is a disciplined, research driven, bottom-up process, which leverages the network of GE resources. Our investment process begins by screening the universe of Euroland companies with market capitalizations greater than US$500 million. We conduct quantitative analysis focused on Price/Cash Earnings Ratios, Cash Earnings Growth, and Yield. Detailed, fundamental company analysis, industry competitive analysis, and a macro-environment review including an assessment of currency risk further narrow the list of buy candidates. Our analysts then seek a catalyst for change in each stock that will unlock the future potential of the company. Such catalysts may include: the introduction of a new product, a corporate rationalization/restructuring, or participation in new markets. The final portfolio construction is driven by our level of conviction in each stock based on thorough discussions among the portfolio managers and an overall risk assessment.

Other Equity Strategies
---Select--- Canadian Equity China H Equity Emerging Markets Equity Euroland Equity Europe Equity Europe Select Equity Global Equity Global Select Equity India Equity International Equity Japan Equity Select U.S. Equity: Premier Growth U.S. Mid Cap Equity Research Enhanced