Since 1974, managing our clients' assets has been our sole focus. Based in Madison, Wisconsin, we’ve earned a national reputation for our risk-sensitive investment philosophy and our active bond and equity strategies. The clients of our firm and its affiliates, who entrust us with approximately $15 billion of their assets as of December 31, 2015, include hospitals, foundations, endowments, religious organizations, corporations, municipalities, unions, financial institutions and insurance companies. We also serve a wide range of individual investors through mutual funds, managed accounts and private portfolios. All portfolios are managed using our philosophy of "Participate and Protect®" to manage risk by participating in markets when we perceive risk is low and protecting capital when we perceive risk is high.