Enceladus manages portfolios individually tailored to reflect the specific investment objectives and risk tolerance of each client. Rather than allocate assets to an over-diversified package of mutual funds and model portfolios, the firm constructs portfolios primarily of individual stocks and bonds. Thus, portfolios remain focused, and clients know what they own.

Equity selection is based on a multi-capitalization strategy, allowing portfolio managers the flexibility to seek out the best values across the market spectrum. Companies are screened based on a variety of fundamental factors to find stocks which may be undervalued relative to their growth prospects. Medium and small companies will generally make up half of an equity portfolio. Turnover is kept low to produce a tax-efficient rate of return, something unattainable in most pooled accounts.

With respect to fixed income investments, our focus is on high quality municipal, corporate, U. S. Treasury and Federal Agency bonds. Maturities are limited to ten years with an average life of four to six years. In our view, bond ownership provides income and stability. Risk and commensurate return should come from the equity side of a portfolio.

An investment plan is a key aspect of any successful investment management relationship. We meet with each prospective client to determine what the appropriate investment objective is for the funds we might manage. The product of this dialog is an Investment Planning Letter (IPL), a game plan for managing the portfolio. It will be reviewed and amended as appropriate for the client. Only after there is a "meeting of the minds" and a plan is ready to be put in place do we allow ourselves to be hired by the client.