August 6, 2013
Invitation to GWK conference call for SFS client on fixed income investing

As we mentioned in our July 2013 e-newsletter, investors have questions about fixed income investing given the current state of the bond markets responding to US monetary policy. In addition, investors also have questions about the impact on fixed income investing with financial markets heading toward a likely rising interest rate environment, the recent bankruptcy of Detroit, and several other factors.

We've set up for Mike Rabuffo, Vice President at Gannett, Welsh & Kotler, LLC (GWK) to host a conference call for SFS clients to inform us about these issues on Tuesday, August 20th at 10AM EST. Mike is going to spend around 1 hour discussing the following fixed income topics along with giving us GWK's perspective on how GWK is managing client portfolios to account for these topics:

1. Fixed income investing in a rising interest rate environment.

2. The recent bankruptcy of Detroit and its impact on municipal bond investing. (FYI - GWK has zero exposure to Detroit bonds.)

3. The overall fixed income landscape for municipal and corporate bonds and what GWK's investment management approach is.

Mike will be with Jarod during the call. You can e-mail Jarod with questions for Mike at either in advance of the call or else during the call for Mike to address during Q&A time after Mike's presentation.

Dial-in number - 1-888-394-8197
Password to enter the call - 911893
Date/time - Tuesday, August 20th at 10AM EST (please call in a few minutes before the start time)

Below is a PDF file presentation that Mike is planning on referencing during the call.

We hope many of you can attend.  If so, can you please e-mail Jarod to let him know so we have an idea of who is on the call?

Thank you!

Mike Rabuffo GWK conference call presentation for SFS