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Separately Managed Account Strategies

Our Core Equity

The ELCO Core Equity SMA strategy seeks long term capital appreciation, investing primarily in large cap U.S. stocks with improving quality trends, business momentum, and attractive relative valuations. The strategy seeks out companies that are acting as disruptors and innovators in their respective industries. Through qualitative and quantitative screening and valuation analysis, we strive to maximize returns on a risk adjusted basis.

Infrastructure Income

The Infrastructure Income Strategy seeks to provide sustainable income and growth in conjunction with capital preservation. This is accomplished by investing in a concentrated portfolio of high-quality midstream energy companies/ master limited partnerships (MLPs), utilities, renewable energy companies and special situations. These companies operate and own essential energy infrastructure that generate stable and durable cash flows.

Infrastructure Income

The Infrastructure Income Strategy seeks to provide sustainable income and growth in conjunction with capital preservation. This is accomplished by investing in a concentrated portfolio of high-quality midstream energy companies/ master limited partnerships (MLPs), utilities, renewable energy companies and special situations. These companies operate and own essential energy infrastructure that generate stable and durable cash flows.

Preferred Equity/Fixed Income

The ELCO preferred equity/fixed income strategy provides diversified and dynamic exposure across the investment grade, high yield, agency fixed income and preferred equity markets as well as strategic opportunities in closed end funds. The strategy’s primary focus is on price sensitive movements in assets to generate current and future returns. The investments may include securities issued by domestic and foreign governments, corporate entities, and trust structures.

Regional Banks

In December 2009, ELCO entered into a joint venture with Mendon Capital Advisors (“Mendon”), a registered investment adviser that focus their efforts on the Financial Services sector. This SMA will focus primarily on regional and larger community banks. The emphasis is on institutions that have strong and or improving balance sheets with access to the capital markets, seasoned managements, acquisition know-how and minimal credit quality issues. From time to time, Mendon will also select other banks that offer capital gains as a result of mispricing in secondary offerings.

Regional Banks

In December 2009, ELCO entered into a joint venture with Mendon Capital Advisors (“Mendon”), a registered investment adviser that focus their efforts on the Financial Services sector. This SMA will focus primarily on regional and larger community banks. The emphasis is on institutions that have strong and or improving balance sheets with access to the capital markets, seasoned managements, acquisition know-how and minimal credit quality issues. From time to time, Mendon will also select other banks that offer capital gains as a result of mispricing in secondary offerings.

Water Opportunities

In November 2016, ELCO entered into a joint venture with Water Asset Management (WAM). ELCO believes there exists a growing investment opportunity in one of the world’s indispensable resources, water. The globe’s growing economies and urbanization have brought with it major challenges for this limited resource and is quickly becoming a pressing issue. The objective is to generate above average total return by investing in regulated water utilities that benefit from above average returns on equity and have very stable and predictable cash flows. WAM also plans to invest in other aspects of the water sector such as infrastructure, technology, services, treatment, and resources as part of the strategy.

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