We filter historical monthly results through a proprietary screen. This process results in a list of funds with superior results and a consistent investment approach.
		We then use a second screen to identify the funds with low operating costs and low turnover or trading activity.
		We eliminate all funds not managed by the same person for at least five years.
		In the small group that remains, we interview the managers to judge the people behind the numbers.

From the approximately 65 funds that survive this process, we then construct each client's portfolio by selecting funds that will create the right balance to achieve that client's goals. PMA conducts regular follow-up visits with all managers, and we drop any fund that shows a sudden change in volatility or that changes managers.