INVESTMENT COUNSELORS OF MARYLAND LLC

Investment Counselors of Maryland LLC is an investment management firm based out of Baltimore, Maryland. The company was originally established in 1972 as a wholly owned subsidiary of Equitible Bancorporation. The principal officers would then acquire the company from the original parent company and become a wholly owned affiliate of United Asset Management in 1986. Investment Counselors of Maryland currently has operational and investment autonomy after principals of the company acquired a significant ownership in the company. The company conducts its research internally, utilizing a fundamental methodology with a bottom up investment approach. Investment Counselors of Maryland invests in the value stocks of small to large cap companies, allocating its assets in the public equity and fixed income markets within the United States. The company invests most heavily in the industrials and finance sectors, each of which make up over a fifth of the firm’s total asset allocations, and also invests in the information technology, consumer discretionary, real estate, and materials sectors, among other sectors to a lesser degree, in order of decreasing allocation. Investment Counselors of Maryland holds its allocations for just under 20 quarters on average although the firm only holds its top 10 allocations for 1.4 quarters on average. In the most recent quarter, Investment Counselors of Maryland had a turnover rate of 9.7%. The company manages over $1.8 billion in total assets under management spread across 52 accounts, all of which are discretionary accounts. Although the firm’s total number of accounts has been decreasing, its total assets under management has, overall, increased in recent years, growing from $1.7 billion in 2010 to its current amount despite volatility. Investment Counselors of Maryland mainly caters to high net worth individuals, which alone makes up a third of its client base and currently offers its Small Cap Value Equity, SMID Cap Value Equity, Mid-Cap Value Equity, and Large Cap Value Equity strategies.