FIDUCIARY TRUST CO

Fiduciary Trust Co is an investment management firm based out of Boston, Massachusetts. The company can trace its history back to 1885, when “one of New England’s most prominent families established an office to ensure consistency in management of the family's trusts and investments.” The original company would operate largely as a family investment management firm until 1928 when Robert H. Gardiner incorporated Fiduciary Trust Company to “provide wealthy individuals and their families objective advice to meet their estate, trust and investment needs.” Fiduciary Trust Co utilizes an “open architecture” methodology to manage its portfolios, allowing “access to top-tier investment managers across a broad range of traditional and alternative asset classes.” The company invests with a long term investment horizon, focusing on establishing a disciplined and consistent approach. Fiduciary Trust Co conducts its research both internally and externally, utilizing a quantitative analytics methodology to make its investment decisions. The company invests in the public equity, fixed income, and real estate markets on a global scale, allocating its assets in the value and growth stocks of companies ranging from the small to large market capitalizations. Fiduciary Trust Co invests most heavily in the finance sector, which alone makes up over a quarter of the firm’s total asset allocations, and also invests in the information technology, health care, consumer discretionary, consumer staples, industrials, energy, materials, and real estate sectors, among other sectors to a lesser degree, in order of decreasing allocation. The company holds its allocations an average of 24.5 quarters although the firm only holds its top 10 allocations an average of 14 quarters. Fiduciary Trust Co, in the most recent quarter, has had a turnover rate of approximately 10.6%. The company currently oversees over $11 billion in total assets under management and operates with a team of investment professionals that have an average of over a quarter century in the industry.