In this issue’s feature article, Investment Strategy Analyst Tom Martin discusses the importance of tax-efficient investing and covers five ways in which BBH seeks to improve after-tax returns for clients. In addition, Martin and Investment Analyst Brian Nelson provide a market update as well as an overview of our current portfolio positioning and priorities and anticipated short- or medium-term changes. As always, Core Select Co-Managers Tim Hartch and Michael Keller discuss how the Core Select portfolio companies performed last quarter. Finally, Wealth Planner Michelle Hong explores four tax-efficient methods of paying for college.