WestEnd Advisors is a private, independently owned investment advisory firm based in Charlotte, North Carolina. WestEnd’s flagship portfolio is its Large-Cap Core Equity Portfolio, which has a proven record of performance and risk management since its 1996 inception (past performance is no guarantee of future results). WestEnd’s economic outlook is central to its investment process. It believes sector and industry performance is highly correlated with particular phases of the business cycle. Accordingly, WestEnd overweighs favored sectors and avoids other sectors based on its assessment of the economy's position in the current business cycle.