(Risk and Volatility)
|
|
- Leo Wade
- 6 years ago
- Views:
Transcription
1 (Risk and Volatility) IFS-A76900 Charts 1-11 Reminder: You must include the Glossary of Indices and disclosure pages with all charts you select to use, either individually or as a group. Information as of December 31, 2002 unless otherwise noted
2 R i s k Company Risk Market Risk Number of Stocks in Portfolio Risk is defined as Standard Deviation. Diversification seeks to balance (as in an investment portfolio) defensively by dividing funds among securities of different industries or of different classes. Corporate bonds are subject to credit risk, interest rate risk, and market risk. Past performance is not indicative of future results. Presented to provide you with an understanding of historic long-term performance, and is not presented to illustrate the performance of any security. Source: Ibbotson Associates. IFS A76900 Chart #1
3 100.00% Stock Volatility - S&P 500 Quarterly Returns 1926 to % 60.00% 40.00% 20.00% 0.00% % % % Dec-26 Dec-30 Dec-34 Dec-38 Dec-42 Dec-46 Dec-50 Dec-54 Dec-58 Dec-62 Dec-66 Dec-70 Dec-74 Dec-78 Dec-82 Dec-86 Dec-90 Dec-94 Dec-98 Dec-02 Source: Ibbotson Associates, Chicago The Market is represented by the S&P 500 Index Please Note: Past performance is not a guarantee of future results. Individual investor results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #2
4 80.00% Market Volatility Asset Class Annual Returns 1942 to % 40.00% 20.00% 0.00% % % S&P 500 TR U.S. 30 Day TBill TR U.S. LT Gvt TR U.S. LT Corp TR U.S. Small Stk TR U.S. Inflation Source: Ibbotson Associates, Chicago Government bonds and Treasury Bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. The prices of small company stocks are generally more volatile than those of large company stocks. Past performance is not a guarantee of future results. Individual investor results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #3
5 Risk vs. Return December December 2002 Return (AM) 18.0% 17.0% 16.0% U.S. Small Stk TR 15.0% 14.0% 13.0% 12.0% 11.0% S&P 500 TR 10.0% 9.0% 8.0% 7.0% U.S. LT Corp TR 6.0% U.S. IT Gvt TR 5.0% U.S. LT Gvt TR U.S. 30 Day TBill TR 4.0% 3.0% 0.0% 3.0% 6.0% 9.0% 12.0% 15.0% 18.0% 21.0% 24.0% 27.0% 30.0% 33.0% 36.0% 40.0% Risk (STD) Source: Ibbotson Associates, Chicago Government bonds and Treasury Bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. The prices of small company stocks are generally more volatile than those of large company stocks. Past performance is not a guarantee of future results. Individual investor results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #4
6 Return (AM) 17.0% 16.0% 15.0% 14.0% 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% 7.0% U.S. 30 Day TBill TR U.S. IT Gvt TR Risk vs. Return December December Years with International U.S. LT Gvt TR U.S. LT Corp TR 6.0% 1.0% 3.0% 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% 17.0% 19.0% 21.0% 24.0% Risk (STD) Source: Ibbotson Associates, Chicago. Government bonds and Treasury Bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. Stocks offer growth potential, but fluctuate more than other investments. The prices of small company stocks are generally more volatile than those of large company stocks. Investing in foreign/international securities presents certain unique risks not associated with domestic investments, such as currency fluctuation and political, social, economic changes. Past performance is not a guarantee of future results. Individual investor results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #5 S&P 500 TR U.S. Small Stk TR MSCI EAFE TR
7 Return (AM) 15.0% 14.0% 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% U.S. IT Gvt TR Risk vs. Return December December Years with International U.S. LT Gvt TRS&P 500 TR U.S. Small Stk TR U.S. LT Corp TR MSCI EAFE TR 7.0% 6.0% U.S. 30 Day TBill TR 5.0% 1.0% 3.0% 5.0% 7.0% 9.0% 11.0% 13.0% 15.0% 17.0% 19.0% 21.0% 23.0% 25.0% Risk (STD) Source: Ibbotson Associates, Chicago. Government bonds and Treasury Bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. Stocks offer growth potential, but fluctuate more than other investments. The prices of small company stocks are generally more volatile than those of large company stocks. Investing in foreign/international securities presents certain unique risks not associated with domestic investments, such as currency fluctuation and political,social, economic changes. Past performance is not a guarantee of future results. Individual investor results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #6
8 Risk vs. Return December December Years with International Return (AM) 15.0% 14.0% 13.0% U.S. Small Stk TR 12.0% 11.0% 10.0% S&P 500 TR U.S. LT Gvt TR 9.0% U.S. LT Corp TR 8.0% 7.0% U.S. IT Gvt TR 6.0% 5.0% 4.0% 3.0% U.S. 30 Day TBill TR MSCI EAFE TR 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 21.0% Risk (STD) Source: Ibbotson Associates, Chicago. Government bonds and Treasury Bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. Stocks offer growth potential, but fluctuate more than other investments. The prices of small company stocks are generally more volatile than those of large company stocks. Investing in foreign/international securities presents certain unique risks not associated with domestic investments, such as currency fluctuation and political, social, economic changes. Past performance is not a guarantee of future results. Individual investor results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #7
9 1926 to Stocks 50 Bonds Source: Ibbotson Associates. Stocks are represented by the S&P 500 and bonds are represented by LT US Gov t bonds IFS A76900 Chart #8
10 160% Return 142.9% Range of Returns - Highs & Lows 1926 to 2002 Legend Highest: 130% 110% 90% 70% 50% 30% 10% -10% -30% -50% -70% -58.0% 54.0% -43.3% 42.6% -8.1% 40.4% -9.2% 14.7% 0.0% Average: Lowest: U.S. Small Stk TR S&P 500 TR U.S. LT Corp TR U.S. LT Gvt TR U.S. 30 Day TBill TR Source: Ibbotson. Gov t bonds & Treasury bills are guaranteed by the US Gov t And if held to maturity, offer a fixed rate or return and fixed principal value. Presented to provide you with an understanding of historic long-term performance And is not presented to illustrate the performance of any security. The prices of Small company stock are generally more volatile than those of large company Stocks. Past performance is no guarantee of future results. Individual investor Results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #9
11 Higher Risk Higher Return Higher Risk Higher Risk Small Company Stocks International Stocks Large Company Stocks Corporate Bonds Government Bonds Lower Return Cash Equivalents Government bonds and Treasury Bills are guaranteed by the U.S. Government and, if held to maturity, offer a fixed rate of return and fixed principal value. The prices of small company stocks are generally more volatile than those of large company stocks. Past performance is not a guarantee of future results. Individual investor results will vary. Source: Ibbotson Associates, Chicago IFS A76900 Chart #10 Lower Risk
12 80% 70% 60% 50% 40% 30% 20% 10% -10% -20% -30% -40% Range of Returns - Highs & Lows 1970 to 2002 Return 0% 37.4% -26.5% 57.4% -30.9% 69.9% -23.2% 42.6% -7.4% 40.4% -9.0% 29.1% -5.1% Legend Highest: 14.7% Average: 2.9% Lowest: S&P 500 TR U.S. Small Stk TR MSCI EAFE TR U.S. LT Corp TR U.S. LT Gvt TR U.S. IT Gvt TR U.S. 30 Day TBill TR Source: Ibbotson. Gov t bonds & Treasury bills are guaranteed by the US Gov t And if held to maturity, offer a fixed rate or return and fixed principal value. Presented to provide you with an understanding of historic long-term performance And is not presented to illustrate the performance of any security. Stocks offer growth potential, but fluctuate more than other investments. The prices of Small company stock are generally more volatile than those of large company Stocks. Past performance is no guarantee of future results. Individual investor Results will vary. See Glossary of Indices for index descriptions. IFS A76900 Chart #11
13 The indices are presented to provide you with an understanding of their historic long-term performance, and are not presented to illustrate the performance of any security. Investors cannot directly purchase any index. Past performance is not a guarantee of future results. Individual investor results will vary. Small Stocks: For , the small company stock return series is the total return achieved by the Dimensional Fund Advisors (DFA) Small Company 9/10 Fund. This fund is a market value-weighted index of the ninth and tenth deciles of the New York Stock Exchange (NYSE), plus stocks listed on the American Stock Exchange (AMEX) and over the counter (OTC) with same or less capitalization as the upper bound of the NYSE ninth decile. The equities of smaller companies from are represented by the historical series developed by Professor Rolf W. Banz. This is composed of stocks making up the fifth quintile of the NYSE. For 1981, Dimensional Fund Advisors, Inc. updated the returns using Professor Banz s methods. Large Stocks: The large stock total return index is based upon the Standard and Poor s composite index. The S&P 500 is an unmanaged weighted index of 500 stocks providing a broad indicator of price movement. Long-Term Corporate Bonds: For , corporate bond total returns are represented by the Salomon Brothers Long-Term High Grade Corporate Bond Index. The index includes nearly all Aaa and Aa rated bonds. Over , the total returns were calculated by summing the capital appreciation returns and the income returns. For the period , Ibbotson and Sinquefeld backdated the Salomon Brothers Index, using Salomon Brothers monthly yield data with a methodology similar to that used by Salomon for Capital appreciation returns were calculated from yields assuming a 20-year maturity, a bond price equal to par, and a coupon equal to the beginning of the period yield. For the period , the Standard & Poor s monthly High Grade Corporate Composite Yield data were used, assuming a 4% coupon and a 20-year maturity. The conventional present value formula for bond price was used for the beginning and end of the month prices. Long-Term Government Bonds: The total returns on long-term government bonds from are constructed with data from the Wall Street Journal. Over , data are obtained from the Government s file at the Center for Research in Security Prices (CRSP), Graduate School of Business, University of Chicago. Each year, a one-year bond portfolio with a term of approximately 20 years and a reasonably current coupon and whose returns did not reflect potential tax benefits, impaired negotiability, or special redemption or call privileges, was used. Where callable bonds had to be used, the term of the bond was assumed to be a simple average of the maturity and first call dates minus the current date. The bond was held for the calendar year and returns were computed. continued - next page Rev. 03/03
14 Glossary of Indices (continued from previous page) Intermediate Term Government Bonds: Total returns for the period are calculated from the Wall Street Journal prices. Using the coupon accrual method total returns are calculated as the change in the flat or "and-interest" price. The flat price is the average of the bid and ask prices plus the accrued coupon. The accrued coupon is equal to zero on the day a coupon is paid, and increases over time until the next coupon payment according to this formula: T-Bills: For the U.S. Treasury Bill Index, data from the Wall Street Journal are used form ; the CRSP U.S. Government Bond File is the source until Each month, a one-bill portfolio containing the shortest-term bill having not less than one month to maturity is constructed. To measure holding period returns for the one-bill portfolio, the bill is priced as of the last trading day of the current month. International Stocks: The returns for International Stocks are based on the Morgan Stanley Capital International Europe, Australia, Far East Index (MSCI EAFE) for the period MSCI EAFE is a market value-weighted average of over 900 securities listed on stock exchanges in the developed countries in the regions listed above. The index includes reinvestment of gross dividends before deduction of withholding taxes. Inflation: The Consumer Price Index for all Urban Consumers (CPI-U), not seasonally adjusted, is used to measure inflation, which is the rate of change of consumer good prices. All of the security returns are measured from one month-end to the next month-end. CPI commodity returns are collected during the month. Thus, measured inflation rates lag the other series by about one-half month. Prior to January 1978, the CPI (as compared with CPI-U) was used. Both inflation measures are constructed by the U.S. Department of Labor, Bureau of Labor Statistics. Russell 1000 Index - Consists of the 1,000 largest securities in the Russell 3000 Index. This large capitalization (market-oriented) index represents the universe of stocks from which most active money managers typically select. The Russell 1000 is highly correlated with the S&P 500 Index. The Russell 3000 Index is composed of the 3,000 largest U.S. securities, as determined by total market capitalization. R1000 Growth index stocks with higher price-to-book ratios and higher forecasted growth values. Russell 2000 Index - Consists of the smallest 2,000 securities in the Russell 3000 Index. This is the Frank Russell Company s small capitalization index that is widely regarded in the industry as the premier measure of small capitalization stocks. The Russell 3000 Index is composed of the 3,000 largest U.S. securities, as determined by total market capitalization. R1000 Value stocks with lower price-to-book ratios and lower forecasted growth values. Source: Ibbotson Associates, Chicago Revised 03/03
15 Government bonds and Treasury bills are guaranteed by the US Gov t and, if held to maturity, as with all bonds offer a fixed rate of return and principal. Stocks offer long term growth potential but may fluctuate more and provide less current income than other investments. Standard deviation represents the amount, over a period of time, that a portfolio s return deviates from the mean or average annual return that the portfolio has Experienced. The price of small company stocks generally are more volatile than those of large company stocks. Securities products & investment advisory services offered through Prudential Securities Incorporated and Pruco Securities Incorporated both Prudential Companies. Prudential Financial is a service mark of The Prudential Insurance Company of America, Newark, NJ and its affiliates. Rev: 03/03
Capital Markets Charts 2004 Series
Capital Markets Charts 2004 Series (Comparisons Charts) Charts 1-4 Reminder: You must include the Glossary of Indices and disclosure pages with all charts you select to use, either individually or as a
More informationCapital Markets Charts 2004 Series
Capital Markets Charts 2004 Series (Performance Charts) Charts 1 15 Reminder: You must include the Glossary of Indices and disclosure pages with all charts you select to use, either individually or as
More information(Comparisons Charts)
(Comparisons Charts) IFS-A76904 Charts 1-10 Reminder: You must include the Glossary of Indices and disclosure pages with all charts you select to use, either individually or as a group. Information as
More information(Markets and Tragedies)
(Markets and Tragedies) IFS-A76899 Charts 1-7 Reminder: You must include the Glossary of Indices and Disclosure pages with all charts you select to use, either individually or as a group. Information as
More informationEndowments and Foundations
OCTOBER 2003 Endowments and Foundations Linking Spending Policy and Asset Allocation 2 In order to effectively manage an endowment or foundation, a trustee must first understand the special requirements
More informationCapital Markets Charts 2003 Series
Capital Markets Charts 2003 Series (Markets and Tragedies) IFS-A76899 Charts 1-7 Reminder: You must include the Glossary of Indices and disclosure pages with all charts you select to use, either individually
More informationInvestment Proposal prepared for. Joe Client. March 12, 2003
Investment Proposal prepared for Presented by John Consultant Senior Vice President Investments Page 1 Table of Contents Section Page Proposal Introduction 03 Setting Goals and Objectives 04 Asset Allocation
More informationSmall Stocks For The Long Run
Small Stocks For The Long Run Richard J. Kish 1 and Karen M. Hogan 2 The growth of self-directed retirement accounts and discussion of possible overhaul of the Social Security system has increased the
More informationStay on Track with TARGET
Stay on Track with TARGET Whether you re spending time with your family or focusing on your career, your time is valuable. The time you spend searching for that hot dot or keeping abreast of market events
More informationHEARTLAND VALUE FUND
HEARTLAND VALUE FUND An investor should consider the Fund s investment objectives, risks, and charges and expenses carefully before investing or sending money. This and other important information can
More informationTOP 10 REASONS TO INVEST IN MICRO-CAPS
TOP 10 REASONS TO INVEST IN MICRO-CAPS REASON #1 MICRO-CAPS USE DISCLOSURES DISCLOSURE The Fund s investment objectives, risks, charges and expenses must be considered carefully before investing. The Summary
More informationChapter Six. Bond Markets. McGraw-Hill /Irwin. Copyright 2001 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Six Bond Markets Overview of the Bond Markets A bond is is a promise to make periodic coupon payments and to repay principal at maturity; breech of this promise is is an event of default carry
More informationTIME TARGETED EQUITY PORTFOLIOS
TIME TARGETED EQUITY PORTFOLIOS 1 3 Year 4 6 Year Equity 7 15 Year 15+ Year Global Diversification Exposure to a large number of securities around the world reduces the risk that any one stock or any one
More informationTHE FUNDAMENTALS OF ASSET CLASS
INVESTING THE FUNDAMENTALS OF ASSET CLASS INVESTING Solving the Investment Problem The first goal of your financial plan should be to avoid outliving your money Investing Is About You We Are Living Longer
More informationRisk & Return History I Selected Asset Classes
Risk & Return History I Selected Asset Classes Key Considerations for Asset Allocation Decisions June 2017 KEPPLER ASSET MANAGEMENT INC. 350 WEST 57 STREET I NEW YORK, NY 10019 I WWW.KAMNY.COM Contents
More informationRetirement Plan Quarterly Investment Review Summary
Retirement Plan Quarterly Investment Review Summary Prepared for: Plan Name: Quarter Ending: Pepperdine University Retirement Plan December 31, 2008 Table of Contents Introduction: Asset Allocation by
More informationFundamentals of Retirement Income Planning. Presented by Galen Mayo December 4, 2013
1 Fundamentals of Retirement Income Planning Presented by Galen Mayo December 4, 2013 2 Know Your Risks The Five Key Risks in Retirement 1. Longevity 2. Health care expenses 3. Inflation 4. Asset allocation
More informationINVESTMENT PLAN. Sample Client. For. May 04, Prepared by : Sample Advisor Financial Consultant.
INVESTMENT PLAN For Sample Client May 04, 2012 Prepared by : Sample Advisor Financial Consultant sadvisor@loringward.com Materials provided to approved advisors by LWI Financial Inc., ( Loring Ward ).
More informationWHO WANTS TO BE A MILLIONAIRE? MATSON MONEY INVESTOR EDUCATION SERIES
WHO WANTS TO BE A MILLIONAIRE? MATSON MONEY INVESTOR EDUCATION SERIES TABLE OF CONTENTS page 3 page 4 page 6 page 7 page 9 page 10 WHO WANTS TO BE A MILLIONAIRE? MILLIONAIRE FACTS I LL CATCH UP LATER THE
More informationValuation Publications Frequently Asked Questions
Valuation Publications Frequently Asked Questions Valuation Publications Frequently Asked Questions The information presented in this publication has been obtained with the greatest of care from sources
More informationJENNISON MANAGED ACCOUNTS
JENNISON MANAGED ACCOUNTS A Division of Jennison Associates LLC Large Cap Blend Equity Strategy June 2004 Investment Strategy & Process Large Cap Blend Investment Objective To outperform the S&P 500 Index
More informationDimensions of Expected Return
Dimensions of Expected Return Research and Implementation October 7, 2014 Eduardo Repetto, Director, Co-Chief Executive Officer and Co-Chief Investment Officer This information is provided for registered
More informationTHE UNIVERSITY FOUNDATION AT SACRAMENTO STATE INVESTMENT POLICY AND ADMINISTRATIVE GUIDELINES. Table of Contents
THE UNIVERSITY FOUNDATION AT SACRAMENTO STATE INVESTMENT POLICY AND ADMINISTRATIVE GUIDELINES Table of Contents 1.0 General Guidelines........ 2 1.1 Scope and Purpose....... 2 1.2 Responsibilities of The
More informationInputs Methodology. Portfolio Strategist
Inputs Methodology Prepared for Portfolio Strategist September 2007 225 North Michigan Avenue Suite 700 Chicago, IL 60601-7676 (312) 616-1620 Table of Contents Portfolio Strategist... 2 Forecasting Expected
More informationSOLVING THE INVESTMENT PROBLEM
SOLVING THE INVESTMENT PROBLEM The Fundamentals of Asset Class Investing FOCUS ON INVESTING Investing Is About You We Are Living Longer No matter what your age, you can expect to live much longer than
More informationFund Information. Partnering for Success. SSgA Real-Life Insight
SM SSgA Real-Life Insight Fund Information Partnering for Success For Plan Participant Use only. The information contained in this document is intended as investment education only. None of the information
More informationSample VA Asset Allocation Portfolio
International Fixed Portfolio 1 - Very Conservative 30% Risk Free 1-3 Gov. Bonds 1.58% 54% US Broad Aggregate Bonds 6.12% 9% US Stock S&P 500 6.32% 1% US Stock S&P 400 14.03% 1% US Stock Russell 2000 9.45%
More informationA Guide to Investing In Corporate Bonds
A Guide to Investing In Corporate Bonds Access the corporate debt income portfolio TABLE OF CONTENTS What are Corporate Bonds?... 4 Corporate Bond Issuers... 4 Investment Benefits... 5 Credit Quality and
More informationCitiFirst. NOTES DEPOSITS CERTIFICATES OTC Derivatives. Offerings Brochure for Third Party Investors September 2013
CitiFirst NOTES DEPOSITS CERTIFICATES OTC Derivatives Offerings Brochure for Third Party Investors September 2013 2 CitiFirst Offerings Brochure September 2013 Table of Contents Introduction to CitiFirst
More informationMulti-Select Securities Puerto Rico Fund Portfolios
Multi-Select Securities Puerto Rico Fund Portfolios Fourth quarter 2016 UBS Financial Services Incorporated of Puerto Rico Table of contents U.S. Large Cap ETF...2 Large Cap Value I...4 Large Cap Core
More informationFund Attribution and Characteristics Report
Fund Attribution and Characteristics Report Fidelity Worldwide Fund as of December 31, 2004 Information reflects the fund s investments up to December 31, 2004 and may not be representative of current
More informationCORE BOND INVESTING. Limited Term Income Fund Limited Term Municipal Fund Intermediate Municipal Fund
Preservation & Income from the Ground Up CORE BOND INVESTING Limited Term Income Fund Limited Term Municipal Fund Intermediate Municipal Fund Whether you re focused on preservation, income, or a little
More informationQUARTERLY REVIEW REPORT
QUARTERLY REVIEW REPORT For the Quarter Ending June 30, 2017 PGR Solutions, LLC 51 E. Campbell Ave., Ste. 124 Campbell CA 95008 (408) 871-1590 www.pgrsolutions.com Quarterly Market Review Second Quarter
More informationQUARTERLY COMMENTARY SMALL CAP VALUE STRATEGY
SMALL CAP VALUE STRATEGY *Prior to October 2009, index domestic equity ETF data included fewer than 7 actively managed domestic equity ETFs. Exchange Traded Fund (ETF) Source: Investment Company Institute,
More informationSTRATEGIES FOR ACHIEVING YOUR INVESTMENT GOALS. Asset Allocation, Diversification, and Risk
STRATEGIES FOR ACHIEVING YOUR INVESTMENT GOALS Asset Allocation, Diversification, and Risk WHAT IS ASSET ALLOCATION? WHAT IS DIVERSIFICATION? UNDERSTANDING RISK AND RETURN DIVERSIFICATION HELPS MANAGE
More informationLarry and Kelly Example
Asset Allocation Plan Larry and Kelly Example Prepared by : Sample Advisor Financial Advisor January 04, 2010 Table Of Contents IMPORTANT DISCLOSURE INFORMATION 1-6 Results Comparison 7 Your Target Portfolio
More information(Modern Portfolio Theory Review)
(Modern Portfolio Theory Review) IFS-A76898 Charts 1-9 Reminder: You must include the Modern Portfolio Theory Disclosure pages with all charts you select to use, either individually or as a group. Information
More informationWhy invest in stocks?
Ian Mikkelsen, CFA, Associate Equity Sector Analyst Why invest in stocks? Why should someone invest in stocks? Historically, stocks have performed well when compared to other financial assets, and have
More informationJohn Hancock Variable Insurance Trust
John Hancock Variable Insurance Trust Managed Volatility Aggressive Portfolio (formerly Lifestyle Aggressive MVP) Managed Volatility Balanced Portfolio (formerly Lifestyle Balanced MVP) Managed Volatility
More informationThe Case for Treasury Inflation-Protected Securities
STRATEGY INSIGHTS MAY 2014 The Case for Treasury Inflation-Protected Securities by John Hendricks, Executive Vice President and Senior Portfolio Manager Inflation can erode the real value of an investor
More informationRisk-Efficient Investment Portfolios from AlphaSimplex Group. Strategies that put risk management first
Risk-Efficient Investment Portfolios from AlphaSimplex Group Strategies that put risk management first Agenda About AlphaSimplex Group (ASG) The need for active risk management Introducing the AlphaSimplex
More informationDrexel University Retirement Plan
Drexel University Retirement Plan 23A 7% is the average saving rate at Vanguard. Source: Vanguard, How America Saves 2016. Vanguard recommends saving 12% 15%. Retirement Income Calculator How much
More informationBOYNTON BEACH POLICE PENSION FUND INVESTMENT PERFORMANCE PERIOD ENDING MARCH 31, 2011
BOYNTON BEACH POLICE PENSION FUND INVESTMENT PERFORMANCE PERIOD ENDING MARCH 31, 2011 NOTE: For a free copy of Part II (mailed w/i 5 bus. days from request receipt) of Burgess Chambers and Associates,
More informationq merrill edge guided investing strategy profile CIO Moderately Conservative ETF Core Tax Aware
Overview This Strategy seeks to provide diversified exposure among three major asset classes for a client's account with a moderately conservative target asset allocation. In normal market conditions,
More information80% Equity / 2% Fixed Income / 16% Alternative / 2% Allocation Strategy
2018 80% Equity / 2% Fixed Income / 16% Alternative / 2% Allocation Strategy INVESTMENT OBJECTIVE: Designed to provide strong growth potential through strategies with the ability to adjust allocations
More informationSummary of Asset Allocation Study AHIA May 2013
Summary of Asset Allocation Study AHIA May 2013 Portfolio Current Model 1 Model 2 Model 3 Total Domestic Equity 35.0% 26.0% 24.0% 31.0% Total Intl Equity 15.0% 18.0% 17.0% 19.0% Total Fixed Income 50.0%
More informationManaged Accounts. FTA/Morningstar Multi-Discipline 75/25 Strategy. First Quarter 2018
Managed Accounts FTA/Morningstar Multi-Discipline 75/25 Strategy First Quarter 2018 Firm Profile First Trust Advisors L.P./First Trust Portfolios L.P. Established in 1991; privately owned Over 700 employees
More informationAre Bonds Going to Outperform Stocks Over the Long Run? Not Likely.
July 2009 Page 1 Are Bonds Going to Outperform Stocks Over the Long Run? Not Likely. Given the poor performance of stocks over the past year and the past decade, there has been ample discussion about the
More informationImportant information on BlackRock U.S. Debt Index Fund
Important information on BlackRock U.S. Debt Index Fund The information provided on the following pages has been provided by BlackRock, Inc. Neither TIAA nor its affiliates has independently verified the
More informationSamples of John Hancock s 408(b)(2) and 404a-5 disclosure materials
Samples of John Hancock s 408(b)(2) and 404a-5 disclosure materials John Hancock Life Insurance Company of New York is collectively referred to as John Hancock. FOR PLAN SPONSOR USE ONLY. NOT FOR DISTRIBUTION
More informationMicro-Cap Investing. Expanding the Opportunity Set. Expanding the Investment Opportunity Set
Micro-Cap Investing Expanding the Opportunity Set Micro-cap stocks present a unique opportunity for long-term investors. Defined as companies whose market capitalizations range from approximately $9 million
More informationFocus on. Fixed Income. Member SIPC 1 MKD-3360L-A-SL EXP 31 JUL EDWARD D. JONES & CO, L.P. ALL RIGHTS RESERVED.
Focus on Fixed Income www.edwardjones.com Member SIPC 1 5 HOW CAN I STAY ON TRACK? 4 HOW DO I GET THERE? 1 WHERE AM I TODAY? MY FINANCIAL NEEDS 3 CAN I GET THERE? 2 WHERE WOULD I LIKE TO BE? 2 Our Objectives
More informationSWS programs. Education program in the fall. Research Teams. Investment Board. Executive Board
Introduction to SWS SWS programs Education program in the fall Seminar Series Investment Project Mentorship opportunities Research Teams Becoming an expert in an industry Giving stock pitches Investment
More informationKP Retirement Path 2050 Fund: KPRHX. KP Retirement Path 2055 Fund: KPRIX. KP Retirement Path 2060 Fund: KPRJX. KP Large Cap Equity Fund: KPLCX
The KP Funds KP Retirement Path 2015 Fund: KPRAX KP Retirement Path 2020 Fund: KPRBX KP Retirement Path 2025 Fund: KPRCX KP Retirement Path 2030 Fund: KPRDX KP Retirement Path 2035 Fund: KPREX KP Retirement
More informationSample Custom Account (using SSgA Common Trust Funds) 3 rd Quarter 2013
Sample Custom Account (using SSgA Common Trust Funds) 3 rd Quarter 2013 Endowment Management Solutions 70/30 Equities/Fixed Income 60/40 Equities/Fixed Income 50/50 Equities/Fixed Income 100/0 Fixed Income
More informationACCG - Workers Compensation Portfolio Evaluation. Client Advisor: L. Ferber Buckley 3414 Peachtree Road, N.E. Atlanta, GA (800)
Portfolio Evaluation First Quarter 2008 Client Advisor: L. Ferber Buckley 3414 Peachtree Road, N.E. Atlanta, GA 30326 (800) 241-2130 Table of Contents Report (Composite Portfolio) Separator Important Information
More informationQuarterly Investment Update
Quarterly Investment Update Second Quarter 2017 Dimensional Fund Advisors Canada ULC ( DFA Canada ) is not affiliated with The CM Group DFA Canada is a separate and distinct company Market Update: A Quarter
More informationSince you have a balance in one or both of these funds, see below and the following pages for more information about how you will be impacted.
June 2012 Re: Investment Options Changes in the TVA 401(k) Plan Dear 401(k) Plan Participant: The TVA Retirement System Board of Directors periodically reviews the investment options available through
More informationThe Realities of Diversification
The Realities of Diversification October 16, 2018 by Richard Bernstein of Richard Bernstein Advisors Insurance policies always carry a premium that must be paid to the insurer by the insured in exchange
More informationTHE UNIVERSITY OF TEXAS SYSTEM GENERAL ENDOWMENT FUND FINANCIAL STATEMENTS
FINANCIAL STATEMENTS Year Ended August 31, 2002 and For the Period from Inception (March 1, 2001) to August 31, 2001 Deloitte & Touche LLP Suite 2300 333 Clay Street Houston, Texas 77002-4196 Tel: (713)
More informationPALM TRAN, INC./ATU LOCAL 1577 PENSION FUND INVESTMENT PERFORMANCE PERIOD ENDING MARCH 31, 2011
PALM TRAN, INC./ATU LOCAL 1577 PENSION FUND INVESTMENT PERFORMANCE PERIOD ENDING MARCH 31, 2011 NOTE: For a free copy of Part II (mailed w/i 5 bus. days from request receipt) of Burgess Chambers and Associates,
More informationSample Custom Account (using SSgA Common Trust Funds) 4th Quarter 2012
Sample Custom Account (using SSgA Common Trust Funds) 4th Quarter 2012 Endowment Management Solutions 70/30 Equities/Fixed Income 60/40 Equities/Fixed Income 50/50 Equities/Fixed Income 100/0 Equities/Fixed
More informationSince Inception Driehaus Micro Cap Growth-Gross (1/1/96) 0.17 % 4.78 % % % % % % 21.78%
DRIEHAUS CAPITAL MANAGEMENT DECEMBER 2017 Performance Update Annualized Returns Composite/Index (Inception Date) Dec QTR YTD 1 Year 3 Year 5 Year 10 Year Since Inception Driehaus Micro Cap Growth-Gross
More informationLOUISIANA SCHOOL EMPLOYEES RETIREMENT SYSTEM
LOUISIANA SCHOOL EMPLOYEES RETIREMENT SYSTEM Investment Performance Analysis through March 31, 2008 May 2008 Copyright 2008 by Segal Advisors, Inc. All rights reserved. 1300 East Ninth Street, Suite 1900
More informationThe Citrus Group at Morgan Stanley Monthly Newsletter
The Citrus Group at Morgan Stanley Monthly Newsletter Issue 64 August 31 st, 2017 Inside This Issue 1 Equity Markets 2 Fixed Income 3 Conclusion 3 Technical Levels to Watch 4+ Disclosures & Credits Equities
More informationTHE UNIVERSITY OF TEXAS SYSTEM GENERAL ENDOWMENT FUND FINANCIAL STATEMENTS
FINANCIAL STATEMENTS For the Period from Inception (March 1, 2001) to August 31, 2001 Deloitte & Touche LLP Suite 2300 333 Clay Street Houston, Texas 77002-4196 Tel: (713) 982-2000 Fax: (713) 982-2001
More informationSaving for the Future MONDELĒZ GLOBAL LLC TIP PLAN. Investment Options Guide
Saving for the Future MONDELĒZ GLOBAL LLC TIP PLAN Investment Options Guide Effective August 31, 2016 TARGET DATE FUNDS The Target Date Funds are designed as an all-in-one approach for participants looking
More informationGlossary of General Investment-Related Terms
Glossary of General Investment-Related Terms 12b-1 Fee: A fee assessed on certain mutual funds or share classes permitted under an SEC rule to help cover the costs associated with marketing and selling
More informationFirst Quarter 2017 Investment Review. Prepared by: Meketa Investment Group CHICAGO, IL (312)
First Quarter 2017 Investment Review Prepared by: Meketa Investment Group CHICAGO, IL 60661 (312) 474-0900 MARKET SUMMARY - 1Q17 CAPITAL MARKETS Index MARKET SNAPSHOT MARCH 31, 2017 Qtr One Year Three
More informationSemiannual Report December 31, 2017
PIMCO ETF Trust Semiannual Report December 31, 2017 Index Exchange-Traded Funds PIMCO 1-3 Year U.S. Treasury Index Exchange-Traded Fund PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund
More informationInvestment Terms Glossary
Investment Terms Glossary 12b-1 Fee: A fee assessed on certain funds and associated share classes permitted under an SEC rule to help cover the cost associated with marketing and selling the fund; 12b-1
More informationCan We Lower Portfolio Volatility and Still Meet Equity Return Expectations?
Can We Lower Portfolio Volatility and Still Meet Equity Return Expectations? Richard Yasenchak, CFA Senior Vice President, Client Portfolio Manager, INTECH FOR INSTITUTIONAL INVESTOR USE/NOT FOR PUBLIC
More informationAsset Class Returns Conversation Starters BlackRock
Asset Class Returns Conversation Starters BlackRock Why is it important to diversify my investments? Holding a wide variety of assets can help reduce your portfolio volatility over time and might help
More informationGlossary Of Investment-Related Terms
Glossary Of Investment-Related Terms PART 1 General Investment-Related Terms 12b-1 Fee: A fee assessed on certain mutual funds or share classes permitted under an SEC rule to help cover the costs associated
More informationSUMMARY OF ASSET ALLOCATION STUDY AHIA August 2011
SUMMARY OF ASSET ALLOCATION STUDY AHIA August 2011 Expected Return 9.0% 8.5% 8.0% 7.5% 7.0% Risk versus Return Model 3 Model 2 Model 1 Current 6.0% 6.5% 7.0% 7.5% 8.0% 8.5% 9.0% Expected Risk Return 30%
More informationTempleton Non-US Equity. Imperial County Employees' Retirement System. February SEATTLE LOS ANGELES
Templeton Non-US Equity Imperial County Employees' Retirement System February 14 SEATTLE 6.6.37 LOS ANGELES 31.97.1777 www.wurts.com MANAGER OVERVIEW Firm Ownership Firm Name Product Name Product Total
More informationDFA Global Equity Portfolio (Class F) Quarterly Performance Report Q2 2014
DFA Global Equity Portfolio (Class F) Quarterly Performance Report Q2 2014 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds.
More informationPART TWO: PORTFOLIO MANAGEMENT HOW EXPOSURE TO REAL ESTATE MAY ENHANCE RETURNS.
PART TWO: PORTFOLIO MANAGEMENT HOW EXPOSURE TO REAL ESTATE MAY ENHANCE RETURNS. MAY 2015 Burland East, CFA CEO American Assets Capital Advisers Creede Murphy Vice President, Investment Analyst American
More informationQuarterly Economic and Market Update
Quarterly Economic and Market Update September 2017 Presented by Global Manager Research Table of Contents Past performance shown on the following slides does not guarantee future results. Market Returns..
More informationINVESTMENT POLICY STATEMENT
2012 INVESTMENT POLICY STATEMENT Prepared for: Sample Client May 04, 2012 Sample Advisor sadvisor@loringward.com Materials provided to approved advisors by LWI Financial Inc., ('Loring Ward'). Securities
More informationSchwab Indexed Retirement Trust Fund 2040
Fund Facts Trustee Fund Type Charles Schwab Bank Collective Trust Fund Category Target Date 2036-2040 Benchmark 2040 Custom Index 1 Unit Class Inception Date Fund Inception Date 1/5/2009 Net Asset Value
More informationMoving On Up Investing in Today s Rate Environment
Moving On Up Investing in Today s Rate Environment Presented by PFM Asset Management LLC Steve Faber, Managing Director Gray Lepley, Senior Analyst, Portfolio Strategies September 18, 2018 PFM 1 Today
More informationSession II: Where to Invest. Byron Caskey Financial Consultant February 14, 2017
Session II: Where to Invest Byron Caskey Financial Consultant February 14, 2017 1 Seek the advice of tax and legal advisors This presentation is designed to provide accurate and authoritative information
More informationAn Economic Perspective on Dividends
2017 An Economic Perspective on Dividends Table of Contents Corporate Outlook... 1 2 Market Environment... 3 7 Payout Ratio... 8 9 Long-term View...10 12 Global View... 13 16 Active Management... 17 Risk
More informationF U N D E V A L U A T I O N R E P O R T
F U N D E V A L U A T I O N R E P O R T Santa Barbara Foundation Performance Update M E K E T A I N V E S T M E N T G R O U P BOSTON MASSACHUSETTS CHICAGO ILLINOIS MIAMI FLORIDA PORTLAND OREGON SAN DIEGO
More informationInternet Appendix for: Cyclical Dispersion in Expected Defaults
Internet Appendix for: Cyclical Dispersion in Expected Defaults March, 2018 Contents 1 1 Robustness Tests The results presented in the main text are robust to the definition of debt repayments, and the
More informationDFA Global Equity Portfolio (Class F) Performance Report Q3 2015
DFA Global Equity Portfolio (Class F) Performance Report Q3 2015 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation
More informationDFA Global Equity Portfolio (Class F) Performance Report Q2 2017
DFA Global Equity Portfolio (Class F) Performance Report Q2 2017 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation
More informationDFA Global Equity Portfolio (Class F) Performance Report Q3 2018
DFA Global Equity Portfolio (Class F) Performance Report Q3 2018 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation
More informationDFA Global Equity Portfolio (Class F) Performance Report Q4 2017
DFA Global Equity Portfolio (Class F) Performance Report Q4 2017 This presentation has been prepared by Dimensional Fund Advisors Canada ULC ( DFA Canada ), manager of the Dimensional Funds. This presentation
More informationBegin Your Journey With Stock Bond Decisions Prepared by Paul Tanner Chartered Financial Analyst
A Granite Hill Investment Field Guide Begin Your Journey With Stock Bond Decisions Prepared by Paul Tanner Chartered Financial Analyst Flip open a popular financial magazine. Browse its Web presence. Visit
More informationING Strategic Allocation Portfolios Adviser Class, Class I and Class S Prospectuses dated April 7, 2008
ING Variable Funds ING Variable Portfolios, Inc. ING VP Balanced Portfolio, Inc. ING VP Intermediate Bond Portfolio ING VP Money Market Portfolio Adviser Class, Class I and Class S Prospectuses dated April
More informationQUARTERLY COMMENTARY HEARTLAND VALUE FUND
HEARTLAND VALUE FUND d. *Prior to October 2009, index domestic equity ETF data included fewer than 7 actively managed domestic equity ETFs. Exchange Traded Fund (ETF) Source: Investment Company Institute,
More information404a-5 Plan & Investment Notice
404a-5 Plan & Investment Notice Saving for retirement is an important part of your financial planning. And your company-sponsored retirement plan with John Hancock is a convenient way to help you save
More informationJUPITER POLICE OFFICER'S RETIREMENT FUND INVESTMENT PERFORMANCE PERIOD ENDING SEPTEMBER 30, 2008
JUPITER POLICE OFFICER'S RETIREMENT FUND INVESTMENT PERFORMANCE PERIOD ENDING SEPTEMBER 30, 2008 NOTE: For a free copy of Part II (mailed w/i 5 bus. days from request receipt) of Burgess Chambers and Associates,
More informationGood Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX
Good Harbor Tactical Core US Fund Class A Shares: GHUAX Class C Shares: GHUCX Class I Shares: GHUIX Good Harbor Tactical Select Fund Class A Shares: GHSAX Class C Shares: GHSCX Class I Shares: GHSIX Semi-Annual
More informationTHE UNIVERSITY OF TEXAS SYSTEM LONG TERM FUND FINANCIAL STATEMENTS
FINANCIAL STATEMENTS Years Ended August 31, 2001 and 2000 Deloitte & Touche LLP Suite 2300 333 Clay Street Houston, Texas 77002-4196 Tel: (713) 982-2000 Fax: (713) 982-2001 www.us.deloitte.com INDEPENDENT
More informationMFS Investment Management 500 Boyleston Street Boston, Massachusetts 02116
Investment Management 500 Boyleston Street Boston, Massachusetts 02116 MANAGER'S INVESTMENT PROCESS RISK CONSIDERATIONS Bottom-up idea generation within a sector-neutral framework, managed by a team of
More informationStocks. Participant Workbook. Your Name: Member SIPC PAGE 1 OF 17
Stocks T H E N U T S A N D B O LT S Participant Workbook Your Name: www.edwardjones.com Member SIPC MKD-3358J-A-PW EXP 30 APR 2020 2018 EDWARD D. JONES & CO., L.P. ALL RIGHTS RESERVED. PAGE 1 OF 17 TAKE
More informationJANUARY 25, 2019 Market Commentary by Scott J. Brown, Ph.D., Chief Economist
JANUARY 25, 2019 Market Commentary by Scott J. Brown, Ph.D., Chief Economist Investor sentiment continued to bounce between fear and hope. The week began with continued concerns about the global economy
More information