"The Clifton Group is an investment management company which serves the fund sponsor community as an overlay risk manager. Our emphasis in constructing client protection programs is to produce a risk management structure which is cost effective and also satisfies the client's requirement for confidence in outcomes. Clifton finds the fulfillment of these protection management needs is best satisfied by the liquidity and price efficiency available through exchange-traded options. Client portfolios are most often hedged using the standard and FLEX index options on the S&P and Russell 2000 indexes. Exchange-traded contracts provide further benefit in that they satisfy client counter-party risk concerns in part related to the perception of high equity market risk levels and the uncertainty associated with the coming millennium. Clifton utilizes exchange-traded contracts on risk management overlay programs covering over $7 billion in assets."
Jack L. Hansen, CFA
Senior Portfolio Manager and Principal
The Clifton Group