Pugh Capital was founded with the goal of providing separate account management to the institutional marketplace. The firm has established a diverse list of noteworthy client relationships that include corporate and pension plans, foundations, endowments and financial institutions. Pugh Capital's emphasis on establishing strong client relationships and providing consistent, above-benchmark performance has contributed to the firm's continuous year-over-year growth in assets.
Additionally, Pugh Capital's commitment to developing close relationships with clients has contributed to the firm's low client turnover as well as to our clients allocating additional assets to Pugh Capital. As of December 2007, nearly 80% of our clients that have been with us for longer than one year provided the firm with additional funds to manage. We believe this speaks highly of the firm's ability to meet and exceed performance objectives, excellent client service and continuity in the firm's investment process and portfolio management team.