All-Cap Income is a unique quantitative strategy that seeks capital appreciation by investing in a portfolio of around 200 dividend paying stocks likely to experience a near-term (30 to 90 days) positive demand shock.

The investment strategy is based on academic research influenced by the work of John Maynard Keynes. Studies show that a relatively small group of stocks tend to migrate up in size and valuation during a given year, contributing a significant portion of the market's return.

Research by Roxbury's Quantitative Strategies Group shows that Wall Street analysts covering such stocks are apt to signal corrective behavior underway with respect to errors in published earnings data. The All-Cap Income strategy seeks to capitalize on this phonomenon by using a refined quantitative model to identify stocks in the early stages of upward migration. The commonly tracked earnings estimate is but one of six data points identified by the portfolio manager as playing a significant role in this process.

The simplest analogy is as follows: The strategy's model identifies corrective behavior exhibited by analysts with respect to published earnings data and monitors this behavior to uncover "where the action is" among stocks, similar to how one might follow a school of fish. If the school abruptly changes direction, so does the strategy, in terms of its holdings.

The portfolio is rebalanced monthly, thus rendering the strategy powerfully adaptive to changing market conditions. As the saying goes, if you want to catch fish, go where the fish are. The strategy's multifactor quantitative ranking algorithm is designed to do just that.

The strategy typically owns approximately 200 equally weighted stocks, without regard for market capitalization or sector diversification. Portfolio turnover is expected to be high and tax efficiency is not a consideration.