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  The Howland and Associates’ Defensive Portfolio is

designed to minimize loss of capital and take advantage

of value type stocks with strong dividends at attractive

valuations.  

    Remaining committed to a strategy which incorporates

higher dividend yield and low price-to-earnings ratios

provides Defensive Strategy investors the positioning to

deliver superior long-term performance with less “downside”

risks in unstable and unpredictable market environments

Weighted Average

Russell 3000 Value

Howland Defensive

Market Cap

$66 Billion

$14.5 Billion

Price/Earnings Ratio

12.0

7.3

Price/Earnings/Growth Ratio

1.6

0.7

Annual Estimated Yield (Current dividends)

2.7%

2.5%

or to serve clients who are willing to forgo higher returns to minimize risks.  The Defensive

Portfolio is sector-neutral and allocation targets are determined by the Russell 3000 Value

Index®.  

If you would like more information about Howland and Associates Defensive Strategy,

please contact D. S. Howland, CFA at dee@investhowland.com.