At Fort Pitt Capital Total Return Fund, manager Charles Smith looks for companies that have both a history of profitability and reasonable share prices. He looks for stocks that can deliver total returns that outpace inflation. Mr. Smith is a contrarian. He recognizes the risk in being different, but he is willing to take this risk in order to outperform the S&P 500 index by one to two percentage points per annum net of fees.

Scientific breakthroughs in healthcare may spark enthusiasm among investors, but it is estimated that only one out of 5,000 drug candidates actually makes it to the market. That's why investing in biotech requires specialization, in-depth fundamental research, and understanding the complicated drug development process, according to Stephan Patten, co-manager of the Quaker Biotech Pharma-Healthcare Fund. The fund invests in only 25 to 35 best ideas sifted through a careful selection process.