Made In America Conference

IFS was represented at the "Made In America" conference of Taft-Hartley funds in Las Vegas on February 14, 2006. In a presentation on "Selecting Investment Managers", IFS encouraged the audience to pick managers with an eye toward the managers' periods of worst performance as well as their best, to concentrate more on long term returns than on recent results, and to be ready for the inevitable periods when good managers trail their peers.

In a presentation on "The Role of International Equities in Your Portfolio", IFS noted that it is getting harder to distinguish between "US" and "foreign" companies, and that more and more US workers are employed by foreign-owned corporations operating in the US. He reported that Taft-Hartley pension funds are allocating an increasing percentage of their equity holdings to non-US strategies, and predicted that the day is not far off when funds may divide their equity allocations evenly between US and foreign stocks (or rely instead on "global" mandates that combine stocks from all major markets).