Investment Reporting

To assist us in generating investment reports, we have licensed Axys3, the industry standard for portfolio management software, from Advent Software, Inc. NWCM considers other lesser-priced software programs (widely used in our industry) as wholly inadequate for the task of monitoring client portfolios. We rejected the idea of outsourcing reporting entirely to a third party—another cost-saving trend in our industry. NWCM has chosen instead to maintain the critical function of investment reporting in-house using the very best software. Each deposit and withdrawal is annotated as to source or destination to facilitate review and audit. Each day we reconcile our accounts with the custodian to ensure that both our records and the custodian's are accurate. Trust reports are posted daily to our website for client access.

Our full-time programming staff has successfully integrated Axys3 functionality with proprietary software development to:

1) Ensure that day-to-day investment oversight is conducted in a manner consistent with the Statement of Investment Policy established for each account; and

2) Enhance the quality and speed of delivery of investment reports to clients.

Standard reports, updated daily and posted to our website for client access, are as follows:

Account statements with updated values
Year-to-date performance calculations by account, asset class and individual securities
Year-to-Date transactions by account
Year-to-Date gains, losses and receipt of interest and dividends

Several clients have asked for reports detailing other information, or the same information but in a different format. Because our reporting is in-house and given the expertise of our programming staff, we have the ability to create custom reports that meet the specific needs of a client. Depending on the content of the custom reports, they are updated daily or monthly.

While the availability of detailed investment information, and the speed at which it is delivered, is important, the information must be displayed in a manner that is easy to understand. Client feedback indicates that our reports accomplish this goal. We continually strive to improve the format and functionality of our reporting platform.