| Equity securities |
Dividend discount model, the smoothed earnings yield model and the equity risk premium model | |
| Fixed income securities |
Current yield-to-maturity and forecasts of future yields | |
| Other financial instruments |
Comparison of the specific investment’s risk to that of fixed income and equity instruments and using judgment | |
| Equity securities |
Short sales Unregistered securities Margin purchases | |
| Fixed income securities |
Mortgage backed derivatives that have an inverse floating rate coupon or that are interest only securities
Any ABS that is not issued by the U.S. Government or its agencies or its instrumentalities
Generally securities of less than Baa2/BBB quality may not be purchased
Securities of less than A-quality may not in the aggregate exceed 10% of the investment manager’s portfolio | |
| Other financial instruments |
Unhedged currency exposure in countries not defined as “high income economies” by the World Bank | |