INVESTMENT ADVISORY SERVICES

Overview

At Villere & Co., we work in close financial partnership with each of our investment management services clients to design an individually managed portfolio that strives to meet your specific combination of goals and objectives: long-term growth, maximum income, capital preservation. We then carefully organize and manage the proper mix of equity to fixed income in each portfolio. Our unusual stability of personnel and clients, combined with a decision-making process that is streamlined and unencumbered by committees, ensures that what we believe are successful strategies can be implemented quickly and efficiently.

Investment Philosophy

We apply our disciplined approach to the search for sustainable growth prospects, those assets which should provide above-average returns during periods of market strength and help to preserve capital during periods of market weakness.

Investment Process

In selecting assets, we look for a low debt-to-equity ratio, low price-to-earnings ratio, strong earnings potential and a recognizable quality of earnings. Corporate management must demonstrate its ability to create or develop characteristics unique to its industry. We pay attention to undervalued assets and growth potential unrecognized by the investment community.

Portfolio

A typical portfolio contains 25 to 30 securities, with equity positions culled from a universe of about 100 stocks that we follow at any given time. We monitor each portfolio carefully and constantly, using custom-designed software to track and re-examine both performance and strategy, and provide the client with quarterly portfolio evaluations.

Investment Strategies

We seek to enhance portfolio returns while minimizing risk. We invest in preferred and common equities, corporate and tax-free bonds, and government securities and convertible issues. Our goal is for our equity holdings to outperform the Russell 3000 over a full market cycle. Through four generations of experience, we have found that greater returns have been achieved by long-term retention of common stock (given that the valuation premium remains reasonable). Fixed-income securities--generally treasury and investment-grade corporate issues of short duration--seek to provide stability as well as income. Because the unique characteristics of each client demand an individually-constructed portfolio, we do not invest in pooled funds. We also do not use options, commodities, margin or limited partnerships, although short-term trading is employed strategically from time to time.

Reliable Research

Our research is thorough and complete. We not only use company-provided information such as annual reports, prospectuses, 10-Ks, press releases, we also interview management about their strategies and plans, and we monitor corporate activities closely. We have sufficient assets under management to attract the attention of major securities firms, particularly those most knowledgeable in their industries. We choose to work with the brokers who provide the best research and execution discounts from brokerage commission schedules.

Fee Structure

Villere & Co. charges the following fees annually for investment management advisory services of private accounts

The minimum charge is $10,000 a year.

We invite you to also learn more about our mutual funds, Villere Balanced Fund and Villere Equity Fund.

Definitions

The Russell 3000 Index is an unmanaged index commonly used to measure performance of U.S. stocks. You cannot invest directly in an index.

Cash flow measures the cash generating capability of a company by adding non-cash charges (e.g. depreciation) and interest expense to pretax income.

Debt to Equity Ratio - The debt to equity ratio is a financial ratio of balance sheet debt divided by shareholders' equity. It's used to calculate a company's "financial leverage". It indicates what proportion of equity and debt the company is using to finance its assets.

Price to Earnings Ratio - Price of a stock divided by its earnings per share. A measure of how much a company earns in relation to its total stock price.