| While American Fidelity Assurance Company touches lives throughout
the insurance industry, the American Fidelity Corporation has other companies that expand its influence
into financial security solutions, real estate and property management services.
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ASC Holding, LLC, is comprised of several different companies,
all with a major focus on investments.
InvesTrust is a special purpose national bank, serving as an independent trust company.
InvesTrust is one of the larger institutions of its kind in the United States, administering
about $2.8 billion in assets for individuals, foundations, endowments and retirement plans.
Oklahoma Data Services provides participant record keeping for InvesTrust's retirement plan
clients. The company tracks information for approximately 8,300 plan participants.
Asset Services Company is an independent investment consulting firm whose clients are
foundations, endowments, retirement plans and ultra-high-net worth individuals and families. ASC
consults on approximately $3.6 billion in client assets.
As a whole, ASC Holding, including all of its entities, had its best year ever in 2007. Top
line revenues grew at an approximate 11 percent rate, while expenses were down slightly for
the year. From an investment perspective, most of our clients weathered a particularly volatile
year better than the markets as a whole.
For 2008, we must work hard to continue our growth while maintaining a personal touch with
clients and our high-quality, independent investment work. More than anything else, what
makes us attractive to our current and potential clients is our personal and independent
top-quality service.
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American Fidelity Property Company has witnessed the ups and downs
of Oklahoma’s economy in the past 50 years, which has reinforced our belief in conservative
management. Our real estate interests include office, multi-family and commercial development as
well as property management services. This diversity of investments allows us to set desirable property
values and a high return on investment.
Although national markets have experienced heavy fluctuations and devaluations in 2007,
the Oklahoma market has remained strong and stable. With the challenges in the national markets,
out-of-state investors are not purchasing as many properties in Oklahoma, creating more opportunities
in the real estate markets for local companies.
With strong liquidity and management experience, we have been able to acquire property and expand
in our niche markets. In 2007, AFPC worked with American Fidelity Assurance Company to assess its
office environment and needs for the years to come. The process ended with an extension of the lease
on the current buildings at 2000 N. Classen in Oklahoma City.
We will take a conservative approach to growth in 2008. We expect apartment values to take a downturn,
which will create opportunities in the future.
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