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The Privately Managed Portfolio Program

The Privately Managed Portfolio Program ("PMP") offers individually managed investment accounts to clients, for clients with more than $500,000 of assets under management, providing access to the investment advisory services of a select, prescreened group of investment advisers (investment managers).

CCAM, through the PMP Program, helps investors select an appropriate adviser to manage their portfolio, pays the manager's investment advisory fee on behalf of the investor, monitors and evaluates the manager's performance, executes the investor's portfolio transactions without commission charge, and provides custodial services for the investor's assets, or provides any combination of these or other services, all for a single fee all-inclusive fee (wrap fee) paid by the investor to CCAM. The program also provides for on-going consulting services, account monitoring and performance reporting.

Portfolio composition will be determined based on each client's needs and portfolio restrictions, if any, the client's financial goals, age and risk tolerances.

Typically when a client has under $500,000 of assets under management, CCAM will itself manage the client's portfolio. In this instance, CCAM will design and continuously manage a portfolio consisting entirely of mutual funds (primarily, though not necessarily exclusively, of no-load mutual funds) with the goal of meeting each client's individual needs.

The PMP program offers advice regarding equity securities, warrants, corporate debt, commercial paper, bank certificates of deposit, municipal securities, investment company securities, U.S. government securities, options and futures contracts and partnerships, including real estate, equipment leasing and mortgage leasing. Some strategies, such as with option contracts, involve more risk and are only appropriate for certain investors.

In selecting independent money managers, CCAM will use an asset allocation strategy, recommending one or more managers in the following investment styles:

Large Cap Growth, Large Cap Value
Medium Cap Growth, Medium Cap Value
Small Cap Growth, Small Cap Value
International Growth, International Value
International Emerging Markets
Taxable Fixed Income
Tax Exempt Fixed Income

CCAM will assist the client in determining which portion of his or her assets should be allocated among these investment styles and will recommend appropriate managers within each style.