Mark A. Campellone

NYLIM uses a top-down driven investment process to determine asset allocation and portfolio analytics to construct and implement investment portfolios. They offer a broad range of investment products, styles and solutions.

Lyon Capital Management (LCM) employs a value-oriented, bottom-up equity investment approach that focuses on individual companies that have the potential to perform well in strong, as well as, weak economic conditions. As part of the equity portfolio, LCM adds a weighting of REITs that are traded on the major US exchanges. The firm does not make sector bets or bets based on market-cap. They look for companies with substantial businesses, proprietary products, competitive advantages and diversified customer bases. The firm only buys a stock when its price is down from a recent high and it is selling at a low relative valuation compared to other companies in the market and other companies in the industry. LCM also looks for out-of-favor companies that are industry leaders, that generate good returns and have strong cash flow. The firm seeks companies with strong or improving balance sheets and they prefer to invest in companies that pay dividends. A fully invested equity portfolio is equally weighted among 20 to 30 different issues that are diversified across 10 to 15 different industries. Portfolios are built gradually over time as the firm establishes positions in stocks that are currently undervalued. LCM invests in securities that are listed on the major US stock exchanges. They gain international exposure through investments in US-based companies that have a strong presence in foreign countries. LCM seeks investments that have the potential to generate a return of about 50% over a 3-year period. LCM's sell discipline begins with establishing goals for how they expect a stock to perform. When they first purchase a stock, their upside goal is to achieve a gain of 50% over 3 years, which is a 15% annual return plus any dividends. When a stock reaches the upside goal, LCM often takes profits by selling some or all of the position. If the stock appears to have strong fundamentals and continued strong growth potential, the firm will continue to hold a portion. They may also sell if the stock's price falls more than 20% from the original purchase price. A decision to sell is based on how the company is performing. They consider whether management achieving their stated objectives such as cutting costs, selling off under-performing divisions, expanding in new markets, decreasing debt or improving margins. If the firm has strong confidence in the stock, even after a 20% drop in price, they may purchase more. LCM uses a buy and hold approach to invest in fixed-income securities. They seek to preserve principal, generate income and diversify holdings. LCM uses fixed-income securities to provide secure, regular returns to an investor. The firm is not engaged in trying to aggressively time interest rate changes. They build laddered portfolios of securities with a maturity of 6 months to 30 years. Maturities are usually spread out over time. In times of rising interest rates, this approach offers the opportunity to re-invest maturing securities at the higher interest rates on a regular basis. In times of falling interest rates, this strategy locks in a portion of the portfolio (those securities maturing at later dates) at higher rates. LCM will sell a fixed-income security if it has become a bad credit risk. LCM uses US Treasury securities as the base for their fixed-income portfolios. They add in investment grade corporate bonds or state tax-exempt securities after carefully evaluating their fundamentals. LCM's fixed-income investments include: US Treasury securities, US government agency securities, CDs, corporate bonds and preferred stocks. They select fixed-income securities that are issued by large companies, that have a strong fixed charge coverage ratio and that have low debt ratios. The issuing company's business must be a consistent cash-flow generator and the security must offer an attractive yield-spread above US Treasuries. State tax-exempt bonds are used when they are consistent with the client's goals and tax situation. TIPS are used in tax-deferred accounts as a hedge against inflation as appropriate.

Functions as a College/University

State chartered commercial bank

Functions as a College/University

NYL Investors offers advisory services in several asset classes through Fixed Income Investors Group (FII), Real Estate Investors Group (REI), and Private Capital Investors Group (PCI), most of their specific investment strategies are managed by FII. FII is a multi-product fixed income investment manager with expertise in most major US dollar fixed income sectors. They implement a risk-controlled, value-oriented investment process focused on active team management that leverages the top-down and bottom-up capabilities of the team. REI offers managed account real estate equity strategies tailored to each client’s individual goals, objectives, target markets, and guidelines. PCI manages private fixed income strategies across sectors, including infrastructure, utilities, oil and gas, REITs, sports, media and not-for-profits.