Asset allocation: What you should know
|
|
- Lewis Potter
- 5 years ago
- Views:
Transcription
1 Summer 2006 Delaware Digest Asset allocation: What you should know Asset allocation is an investment technique for diversifying investments across a variety of asset classes such as stocks, bonds, real estate, and cash to balance potential return and risk for your situation and investment goals. Because each asset class has unique risk and return characteristics, different investments may perform differently in certain market conditions. As such, diversification may help limit volatility in a portfolio of investments. It is a key concept in financial planning although it does not ensure a profit or protect against loss in a declining market. A landmark study* found that 90 percent of the variability within a portfolio s return over time is directly attributable to asset allocation. This means that the structure of your investment portfolio will have a substantial effect on your investment results. Your financial advisor can help you select an investment mix that is best suited to help you meet your financial goals. When constructing a diversified portfolio, think about what many consider the three most significant factors: your financial goals, tolerance for risk, and time horizon. Financial goals Your financial goals are unique and may change over time. As you speak with your advisor, you may want to think of the investment life cycle in four major phases. Consider how each of the following phases would be defined for you, given your personal situation. (continued on page 2) * Determinants of Portfolio Performance II by Gary P. Brinson, Randolph L. Hood, and Gilbert L. Beebower. Financial Analysts Journal, January/February Also in this issue Delaware Foundation Funds Delaware International Fund gains a global perspective
2 Asset allocation: What you should know (continued from front cover) Accumulation 1. Accumulation. This period of seeking capital appreciation is typically the longest stage for many people, starting when you save your first dollar. It typically ends in the period just before you achieve key financial goals or when protecting your assets becomes a priority. 2. Protection. During this stage you as an investor aim to protect accumulated assets, possibly by strategically reducing portfolio risks. Prior to retirement, for example, you may be likely to move assets into a more stable investment option. This strategy is intended to protect the assets from loss and short-term market fluctuations. 3. Income management. A time typically comes for most investors when the need to secure adequate current income becomes apparent. In retirement, for example, an investor may strive to maintain a steady stream of income but preserve as much principal as possible. 4. Transfer. Wealth is transferred from one individual to another during this stage. An advisor well-versed in estate planning can help you plan for when an inheritance gets passed from the original investor to the beneficiary. As you consider these broad phases, your advisor can help you define them in your particular situation based on your own risk tolerance and time horizon. Protection Income Management Transfer Risk tolerance Investments with greater potential for return also have greater levels of risk. Generally, the greater the potential for gain, the greater the potential for loss. Understanding the trade-off between risk and return is a key to building successful asset allocation strategies. It is important to work with your financial advisor to figure out your tolerance for risk before selecting investments. One way to determine your comfort level with risk may be to consider questions such as: How would I feel if I lost 10 percent of my principal investment? What about 25, 50, or 75 percent? Many financial advisors and planners use these and similar questions about clients financial situations and personalities to build detailed investment profiles. Be prepared to work with your advisor to answer questions and provide adequate information so that together you can gain a strong understanding of your tolerance for investment risk. Time horizon Investors save for a variety of reasons. Your goal might be to purchase a luxury item such as a new sports car, to finance a child s education, or to prepare for retirement. Whatever your goal, when you expect to attain it is something that needs to be defined. Many investors have multiple financial goals, which adds a degree of complexity to their personal situations. The time frame of each goal may be quite different, and your advisor can help you determine one or more investment strategies designed to meet those goals.
3 It is impossible to completely eliminate risk, but diversifying investments may reduce overall portfolio volatility. Financial advisors typically recommend less volatile investments for money that will be needed in shorter time periods and higher-risk investments for funds that won t be needed for 10 years or more. This strategy may decrease the risk that you could lose part or all of your principal that has been invested for shorter time frames while giving longer-term investments the potential to grow. Keeping balanced Shifting market conditions can change the percentage of your allocations over time, possibly leaving your portfolio out of kilter with your original investment plan. An out-of-balance portfolio may be susceptible to increased risk. Not only may financial goals change throughout your life cycle, but different investments also grow at different rates. Over time this could lead to an unbalanced asset allocation strategy. That s why it is prudent for investors to work with their financial advisors to periodically review their investment plans. An investor should always consider financial goals, risk tolerance, and time horizon when reviewing his or her investment mix, whether it be a first-time review or a periodic rebalance. n
4 Mutual fund spotlight: Delaware Foundation Funds Manager views expressed in this article were current as of April 2006, are subject to change, and may not reflect the Fund manager s current views. Views should not be considered a recommendation to buy or sell securities and should not be relied on as research or investment advice. Consult your financial advisor for advice on how to appropriately structure your portfolio. As noted in this quarter s newsletter, an investor s asset allocation strategy is important. To meet the changing needs of investors throughout their lives, Delaware Foundation Funds offer three different portfolios designed for investors who have specific goals and levels of tolerance for risk. These three portfolios offer varying levels of income and growth potential and corresponding variations of risk. Each portfolio relies on an active management approach to asset allocation and invests in a select group of Delaware Investments funds to best attain its investment objective. What are Foundation Funds? Each portfolio is a type of mutual fund known as a fund of funds. A fund of funds typically invests in other mutual funds rather than individual securities. At Delaware Investments, we believe that a fund of funds can be an efficient way to provide investors with active asset allocation services and to help meet investors specific needs at various stages of life and wealth accumulation. The potential benefits of such a strategy are three-fold. 1. By investing in a number of mutual funds, investors gain an extra layer of diversification* through broadly varied individual securities. 2. The structure also provides access to the investment expertise of multiple professional asset managers at a lower initial cost than may otherwise be possible ($1,000 is the minimum initial investment for Delaware Foundation Funds). 3. A professional portfolio manager makes the asset allocation decisions. Professional management of the asset allocation decision may be less attractive *Diversification does not assure a profit or protect against loss in a declining market. Portfolio name Delaware Aggressive Allocation Portfolio Fund invests primarily in In Delaware Investments equity funds and securities more so than in fixed income funds and securities. Typically, the portfolio will invest between 45% and 75% in U.S. equity funds or securities, between 10% and 30% of its net assets in international funds or securities, and between 5% and 35% in fixed income funds or securities. Delaware Moderate Allocation Portfolio Delaware Investments equity, fixed income, and international funds. Under normal circumstances, the portfolio will invest 35% to 65% of its net assets in equity funds and securities, between 25% of its net assets in fixed income funds and securities, and between 5% and 20% of net assets in international equity funds or securities. Delaware Conservative Allocation Portfolio Delaware Investments fixed income and equity funds. The portfolio will typically have a larger percentage of its assets allocated to fixed income funds and securities (between 20% and 50%) than to equity funds and securities (between 45% and 75%). The portfolio may allocate up to 10% to international funds and securities.
5 to some types of investors who wish to maintain greater control or rebalance their assets more frequently. You and your advisor ultimately must decide where control of the asset allocation decision should reside. For example, the Foundation Fund portfolios typically hold a variety of mutual funds, some of which invest in assets with specialized risks. While each portfolio is managed so that its aggregate risk meets a specific risk profile, investors seeking to avoid certain types of assets altogether may find a custom asset mix preferable or more suitable. Likewise, investors with very specific income needs or those favoring a hands-on approach may prefer a more personalized asset allocation. Plus, each of the underlying mutual funds within the Foundation Fund portfolios are subject to varying degrees of market risk. These risks should be discussed with your financial advisor when determining an appropriate investment portfolio. For instance, high-yielding, non-investmentgrade bonds ( junk bonds ) have a higher risk than investment-grade bonds. Adverse conditions may affect the bond issuer s ability to pay interest and principal on these securities. Mutual funds investing in small- or medium-sized company stocks typically involve greater risk, particularly in the short term, than funds investing in larger, more established companies. International investing also poses special risks, such as significant volatility in individual markets, currency fluctuations, and political and economical uncertainties. Furthermore, funds that invest in REITs are subject to many of the risks associated with direct real estate ownership and, as such, may be adversely affected by declines in real estate values, and general and local economic conditions. Funds that invest a significant portion of their assets in one industry or in related industries may involve greater risks than more diversified funds, including greater potential for volatility. Investing in emerging markets can be riskier than investing in wellestablished foreign markets. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although money market funds seek to preserve the value (continued on page 6) Best suited investors are Additional information In the earlier stage of wealth accumulation, generally with Class NASDAQ CUSIP Inception date higher risk tolerance. A DFGAX /31/97 Looking for the capital appreciation potential of the stock B DFGDX /31/97 market and who have no need for current income. C DFGCX /31/97 R DFGRX /02/03 In the wealth accumulation phase, generally with moderate risk tolerance. Looking for the capital appreciation potential of the stock market and the income potential of the bond market. A DFBAX /31/97 B DFBBX /31/97 C DFBCX /31/97 R DFBRX /02/03 In the wealth preservation phase, generally with lower risk tolerance. In the pre-retirement or retirement phase, looking for an increase in income. A DFIAX /31/97 B DFIDX /31/97 C DFICX /31/97 R DFIRX /02/03
6 Mutual fund spotlight: Delaware Foundation Funds (continued from page 5) of the investment at $1.00 per share, it is possible to lose money. Reaching goals through active management For Delaware Foundation Funds, active asset allocation strategy begins with an evaluation of three key factors: The expected return of specific asset classes such as equities or fixed income securities. The expected volatility or degree to which returns of each asset class has varied from one period to the next. The correlation of various asset classes (that is, the degree to which two asset classes move up or down together). After analyzing this information and determining how much of each portfolio will be allocated to a particular asset class, the managers then select specific Delaware Investments mutual funds for investment. For example, as of March 31, 2006, the management team had strategically positioned the portfolios to benefit from shorter-term cash instruments and large-cap, dividendpaying stocks in measures appropriate to the portfolio s objectives. According to Patrick P. Coyne, executive vice president, managing director, head of equity investments and senior portfolio manager for the Delaware Foundation Funds, conditions this past spring warranted a focus on money market instruments on the fixed income side and large-cap stocks on the equity side. We re currently holding overweight positions in equity-focused mutual funds for all three portfolios, compared to our target allocations said Mr. Coyne in April The 10-year Treasury bond is currently trading around 4.85% and shorter-term instruments are trading only slightly lower. At the same time, larger stocks, particularly those within the value universe, are offering strong dividend yields. The Foundation Funds management team meets regularly to discuss the asset allocation in light of such considerations. Note, however, that the team does not make dramatic portfolio moves and that it maintains exposure to all the major asset groups. The managers make incremental moves that they feel will add value when markets shift. According to Mr. Coyne, the most attractive benefit of Delaware Foundation Funds is that they offer professional allocation and, more importantly, diversification among many investment products. Furthermore, the Funds may help average investors maintain the discipline needed to stay fully invested during changing market conditions. Keep in mind that an investment in a Delaware Foundation Fund is not a complete investment program; it should be considered just one part of your total financial plan. Be sure to discuss these Funds with your financial advisor to determine whether they are an appropriate choice for you. n Delaware Investments mutual funds are sold only by prospectus. For a prospectus of any fund, which includes information about investment objectives, risks, charges, and expenses, talk to your financial advisor or call Delaware Investments at You should consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus for Delaware Foundation Funds contains this and other important information about the investment company. Read the prospectus carefully before you invest or send money. Investments are not FDIC or NCUSIF insured or guaranteed. Investors may lose principal.
7 Delaware International Fund gains a global perspective On December 15, 2005, the Board of Trustees approved changes to the Delaware International Small Cap Value Fund that will herald a new era for the Fund and the Delaware Investments international asset management capabilities. These changes, effective March 30, 2006, refocused the Fund s investment strategies and policies, welcomed new management to the Fund, and re-named the fund Delaware Global Value Fund to better reflect its modified investment strategy. Delaware Global Value Fund takes a global approach to value-style investing, selecting securities from among the U.S. markets as well as developed and emerging international markets. Foreign investments are subject Fundamental research and analysis are to risks not ordinarily associated the driving forces behind each security with domestic investments, such chosen by the Fund s portfolio managers. as currency, economic and Security selection is based on relative political risks, and different value comparisons, applying the team s accounting standards. understanding of industry cycles, global Funds that invest small- or midsize stocks typically have greater competitors, and company-specific variables. The investment process risk, particularly in the short term, combines quantitative valuation screens than those investing in larger, with traditional in-depth fundamental more established companies. analysis, experienced judgment, and patience. The new global focus also Investing in emerging markets allows the Fund s managers to invest in can be riskier than investing in both domestic and foreign securities, as well-established foreign markets. opposed to an international focus, which implies investing solely in non-u.s. securities. (continued on page 8) The Fund invests in both U.S. and foreign markets, taking a value-oriented approach to each.
8 Delaware International Fund gains a global perspective (continued from page 7) As of April 2006, the Fund held approximately 53% of its assets in international stocks, 44% in domestic U.S. stocks, and 3% in short-term cash instruments. The domestic portion of the Fund is co-managed by D. Tysen Nutt, Jordan L. Irving, Anthony A. Lombardi, and Robert A. Vogel Jr., of the Delaware Investments Large Cap Value Focus team. The international portion of the Fund is co-managed by Zoë A. Neale and Edward A. Gray of the Delaware Investments International Equity team. The Fund s portfolio managers believe that their dedication to bottom-up security selection, quantitative research, and a value-focused approach gives them insight into a security s true value, as well as the ability to achieve greater potential for returns. n Delaware Investments mutual funds are sold only by prospectus. For a prospectus of any fund, which includes information about investment objectives, risks, charges, and expenses, talk to your financial advisor or call Delaware Investments at You should consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus for Delaware Global Value Fund contains this and other important information about the investment company. Read the prospectus carefully before you invest or send money. Investments are not FDIC or NCUSIF insured or guaranteed. Investors may lose principal. How to contact us Online access to account and fund information Shareholder Service Monday through Friday 8:00 a.m. 7:00 p.m. ET Hearing Impaired Monday through Friday 8:00 a.m. 7:00 p.m. ET Delaphone Automated Phone Service FUND (3863) Touchtone access to account and fund information 24 hours a day 7 days a week Shareholder Service Center service@delinvest.com (Personal account information should not be sent by ) Account Deposits Delaware Investments PO Box Kansas City, MO Written Correspondence Delaware Investments PO Box Kansas City, MO Delaware edelivery Access your fund documents online Comments? Questions positioning@delinvest.com Editorial: Alaina Tweddale, Holly Powitzky, Roseann D Angelo, and Barry Slawter Design: Matthew Cummins Production: Donna Pendrak Delaware Investments is the marketing name for Delaware Management Holdings Inc. and its subsidiaries. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. For a prospectus of any Delaware Investments mutual fund, which includes information about investment objectives, risks, charges, and expenses, talk to your financial advisor or call Delaware Investments at Read the prospectus carefully before you invest or send money. Investments are not FDIC or NCUSIF insured, or not guaranteed. Investments may lose principal. (477) NEWS_0604_DGST PO10991 Delaware Distributors, L.P. ST-DIG [--] SP 06/06
Simple. Intelligent. Versatile.
SPONSORED BY M &T BANK Simple. Intelligent. Versatile. page 3 Portfolio Architect is a managed account program sponsored and managed by M&T Bank, with support from Wilmington Trust Investment Advisors,
More informationYOUR GUIDE TO GETTING STARTED
CentraCare Health 403(b) Retirement Plan Invest in your retirement and yourself today, with help from the CentraCare Health 403(b) Retirement Plan and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some
More informationEnrollment Guide. Future Savings. Time to Focus on a Healthy RETIREMENT. YOUR ENROLLMENT GUIDE FOR THE 457(b) PLAN
Enrollment Guide Future Savings Time to Focus on a Healthy RETIREMENT YOUR ENROLLMENT GUIDE FOR THE 457(b) PLAN Invest some of what you earn today for what you plan to accomplish tomorrow. Your Employer
More informationGuide to Retirement Plan Investing Basics
Guide to Retirement Plan Investing Basics WHAT S YOUR STRATEGY? Saving for retirement might be the most important thing you ever do with your money. When saving for retirement, you ll make some decisions
More information1. Determine the investment approach that best matches your financial needs and goals
Investment Options Fidelity investment options for your Retirement Plan choosing investments that are right for you Your retirement plan offers a variety of investment options. The question is, how will
More informationDeferred Compensation Plan
Deferred Compensation Plan E M P L O Y E E S E R V I C E S A G E N C Y EMPLOYEE BENEFITS A S S E R V I N G I T Y Y O U Y O U S E R V E O U R C O M M U N County of Santa Clara, Employee Services Agency
More informationIndependent. Diligent. Proactive.
Independent. Diligent. Proactive. About National Bank Investments Our mission Guided by our 100% open architecture structure, we are dedicated to providing diverse investment solutions to meet your evolving
More informationDiversification made easy. Asset Allocation Guide
Diversification made easy Asset Allocation Guide 1 First of all, what s asset allocation? To put it simply, asset allocation is the process of spreading your investment dollars over different types of
More informationPERSONAL WEALTH PORTFOLIOS. simplify. your life. With Investment Strategies
PERSONAL WEALTH PORTFOLIOS simplify your life With Investment Strategies The Personal Wealth Portfolios: Meeting Sophisticated Needs in a Single Account As an investor, your financial portfolio is more
More informationInvesting basics. Shelly Maas, Merrill Lynch Financial Wellness Specialist. June 15, 2018
Investing basics Shelly Maas, Merrill Lynch Financial Wellness Specialist June 15, 2018 Merrill Lynch makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated
More informationAsset Allocation Questionnaire
Asset Allocation Questionnaire Asset Allocation Questionnaire The following questions will enable you to determine your time horizon and risk tolerance levels so that you can select a model asset allocation
More informationYOUR GUIDE TO GETTING STARTED
Ensign Services, Inc. 401(k) Retirement Savings Plan Invest in your retirement and yourself today, with help from the Ensign Services, Inc. 401(k) Retirement Savings Plan and Fidelity. YOUR GUIDE TO GETTING
More informationA portfolio that matches your plans.
A portfolio that matches your plans. Amerivest Core Portfolios powered by Morningstar Associates Expert investment management Tailored portfolio recommendations Straightforward, competitive pricing Dedicated
More informationA dynamic approach to investing
Portfolio Stabilizer funds available with a RiverSource variable annuity A dynamic approach to investing Issued by RiverSource Life Insurance Company, and in New York by RiverSource Life Insurance Co.
More informationSEEKING A BALANCE OF SAFETY AND TOTAL RETURN
SEEKING A BALANCE OF SAFETY AND TOTAL RETURN PRUDENTIAL SHORT-TERM CORPORATE BOND FUND, INC. MORNINGSTAR OVERALL RATING Class R Class A, Q, and Z Positive performance in the past 26 out of 27 years Portfolio
More informationStrategies for staying on track to your retirement
Strategies for staying on track to your retirement TIAA-CREF and you: Planning an income for life For more than 90 years, we at TIAA-CREF have dedicated ourselves to helping those who serve the greater
More informationUnderstanding investments,
Understanding investments, your way GROUP RETIREMENT SAVINGS If you re not a financial expert, choosing your investments can sometimes be confusing. Here is some basic information on investment types and
More informationUnderstanding investments, your way GROUP RETIREMENT SAVINGS
Understanding investments, your way GROUP RETIREMENT SAVINGS Understanding investments, your way Deciding where to invest is one of the most important steps on the road to retirement. But knowing what
More informationYour Guide to Getting Started
Standard Motor Products Profit Sharing 401(k) Capital Accumulation Plan Invest in your retirement and yourself today, with help from the SMP 401K Plan and Fidelity. Your Guide to Getting Started Invest
More informationHuman Resources A GUIDE TO SHELL CANADA S DEFINED CONTRIBUTION INVESTMENT OPTIONS
Human Resources A GUIDE TO SHELL CANADA S DEFINED CONTRIBUTION INVESTMENT OPTIONS May Introduction This guide gives you information on the funds offered to members of the Shell Canada Pension Plan (the
More informationRe: Changes to the Chevron Phillips Chemical Company LP 401(k) Savings and Profit-Sharing Plan (the Plan )
February 27, 2015 Re: Changes to the Chevron Phillips Chemical Company LP 401(k) Savings and Profit-Sharing Plan (the Plan ) The Chevron Phillips Chemical Company LP Investment Committee ( Committee )
More informationInvestor Questionnaire
Investor Questionnaire This questionnaire is designed to help you decide how to allocate the assets (stocks and bonds) in your portfolio. You are under no obligation to accept the suggestions provided
More informationYour Guide to Getting Started
Standard Motor Products Profit Sharing 401(k) Capital Accumulation Plan Invest in your retirement and yourself today, with help from the SMP 401K Plan and Fidelity. Your Guide to Getting Started Invest
More informationWHETHER YOUR RETIREMENT IS 40 YEARS AWAY OR ON THE HORIZON, IT IS IMPORTANT TO TAKE STOCK OF YOUR SITUATION AND TAKE CHARGE.
WHETHER YOUR RETIREMENT IS 40 YEARS AWAY OR ON THE HORIZON, IT IS IMPORTANT TO TAKE STOCK OF YOUR SITUATION AND TAKE CHARGE. Industry professionals estimate that some Americans will spend nearly one third
More informationYOUR GUIDE TO GETTING STARTED
William Marsh Rice University Supplemental 403(b) Plan, #50190 Invest in your retirement and yourself today, with help from the William Marsh Rice University Supplemental 403(b) Plan and Fidelity. YOUR
More informationBuilding an Investment Strategy
Building an Investment Strategy Building an investment strategy that meets your risk tolerance and investment objectives is critical to successfully preparing for retirement. There are three key steps
More informationYOUR GUIDE TO GETTING STARTED
CentraCare Health 457(b) Deferred Compensation Plan Invest in your retirement and yourself today, with help from the CentraCare Health and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you
More informationCARING FOR TOMORROW BEGINS TODAY
CARING FOR TOMORROW BEGINS TODAY ENROLLMENT OVERVIEW FOR CRAWFORD MEMORIAL HOSPITAL RETIREMENT PLAN TO PROVIDE CARE FOR YOUR TOMORROW, YOU CAN BEGIN TODAY. What do you see yourself doing when you retire?
More informationYOUR GUIDE TO GETTING STARTED
Salesforce 401(k) Plan Invest in your retirement and yourself today, with help from the Salesforce 401(k) Plan and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you earn today for what you
More information401(k) Plan Highlights
401(k) Plan Highlights RETIREMENT & BENEFIT PLAN SERVICES HomeServices Retirement Savings Plan Congratulations! You are eligible to join the HomeServices Retirement Savings Plan (the Plan ). The Plan offers
More informationYOUR GUIDE TO GETTING STARTED
Engility Master Savings Plan Invest in your retirement and yourself today, with help from Engility Master Savings Plan and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you earn today for
More informationYOUR GUIDE TO GETTING STARTED
Salesforce 401(k) Plan Invest in your retirement and yourself today, with help from the Salesforce 401(k) Plan and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you earn today for what you
More informationInvestment changes are coming to your retirement plan
Investment changes are coming to your retirement plan Table of contents Page 2 About the investment changes Page 4 Your closing funds Page 5 What the fund closures mean to you Page 6 About the Vanguard
More informationDestinations INVESTOR GUIDE. Multi-asset class solutions to meet a range of investor needs. Dynamic portfolios constructed from mutual funds
multi-asset class, dynamic portfolios are designed to deliver consistent returns over the long-term and help individuals stay invested. Risk-based portfolios INVESTOR GUIDE Income-focused portfolios CONSERVATIVE
More informationinvestments that are right for you
Investment Options Rensselaer Polytechnic Institute Plan choosing investments that are right for you Your Rensselaer Polytechnic Institute Plan offers a variety of investment options. The question is,
More informationPRINCIPAL LIFETIME HYBRID COLLECTIVE INVESTMENT FUNDS DISCLOSURE DOCUMENT
PRINCIPAL LIFETIME HYBRID COLLECTIVE INVESTMENT FUNDS DISCLOSURE DOCUMENT Information provided in this summary is as of October 3, 2017. This summary includes key information about the Collective Investment
More informationVanderbilt University Medical Center Retirement Plan Enrollment Guide
Vanderbilt University Medical Center Retirement Plan Enrollment Guide Invest some of what you earn today for what you plan to accomplish tomorrow. The Vanderbilt University Medical Center (VUMC) offers
More informationInvestment Management Philosophy
Investment Management Philosophy Executive Overview The investment marketplace has grown increasingly complex and unpredictable for individual investors. This reality may make it difficult for many people
More informationSummary Prospectus March 1, 2016
The Advisors Inner Circle Fund II RQSI Small Cap Hedged Equity Fund Institutional Shares: RQSIX Retail Shares: RQSAX Summary Prospectus March 1, 2016 Click here to view the Fund s statutory prospectus
More informationMANAGED ACCOUNTS. Capital Directions. A guided approach to financial achievement
MANAGED ACCOUNTS Capital Directions A guided approach to financial achievement CAPITAL DIRECTIONS A UNIFIED MANAGED ACCOUNT THAT COMBINES FLEXIBILITY, SIMPLICITY, AND DISCIPLINE With a Capital Directions
More informationPNC Investment Perspective
January/February 2014 PNC Investment Perspective Get Ready, Get Set Retirement Jim Dunigan Mr. Dunigan is Executive Vice President and Managing Executive, Investments for PNC Asset Management Group. He
More informationPROSPECTUS JANUARY 28, as Supplemented June 23, 2014 and October 7, 2014
PROSPECTUS JANUARY 28, 2014 as Supplemented June 23, 2014 and October 7, 2014 Class I Class II Oakmark Fund OAKMX OARMX Oakmark Select Fund OAKLX OARLX Oakmark Equity and Income Fund OAKBX OARBX Oakmark
More informationChurchill Management Group
hurchillmanagement hurchillmanagement Group hurchillmanagement Group ll Management Group hurchillmanagement G hurchillmanagement Group It is the mission of to build wealth for our Clients over the long
More informationWestfield Capital Dividend Growth Fund
The Advisors Inner Circle Fund II Westfield Capital Dividend Growth Fund Institutional Class Shares (WDIVX) Investor Class Shares (WCDGX) Prospectus March 1, 2019 Investment Adviser: Westfield Capital
More informationinvestment guide discipline We help protect and build wealth through a multiasset class approach.
ideas At Brinker Capital, we look beyond the traditional methods of investing to help grow real purchasing power for our clients over the long term. discipline We help protect and build wealth through
More informationDetermining Your Investor Risk Profile
Asset Allocation Risk Profile Questionnaire Determining Your Investor Risk Profile Accumulate Grow your wealth while managing risk. Plan Protect Access NOT A DEPOSIT NOT FDIC INSURED NOT GUARANTEED BY
More informationIncome Investing basics
Income Investing basics investment options that can offer income, growth, and diversification Key questions to consider: What are your income-oriented investment options? What is the role of income in
More informationYOUR GUIDE TO GETTING STARTED
Salesforce 401(k) Plan Invest in your retirement and yourself today, with help from the Salesforce 401(k) Plan and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you earn today for what you
More informationBlackRock. LifePath Index Funds. An index-based Target Date approach, designed to help keep retirement savings on track
BlackRock LifePath Index Funds An index-based Target Date approach, designed to help keep retirement savings on track John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company
More informationPortfolio Optimization Aggressive-Growth Portfolio
Summary Prospectus May 1, 2018 Class I Shares Portfolio Optimization Aggressive-Growth Portfolio This summary prospectus is intended for use in connection with variable life insurance policies and variable
More informationAAA INVESTMENT POLICY STATEMENT. American Anthropological Association Investment Policy Statement
AAA INVESTMENT POLICY STATEMENT American Anthropological Association Investment Policy Statement Finance Committee recommended October 23, 2013 Executive Board adopted, November 1, 2013 EXECUTIVE SUMMARY
More informationStrategies for staying on track. Prepare yourself for the journey ahead
Strategies for staying on track Prepare yourself for the journey ahead TIAA and you: Working together to pursue a financially secure future At TIAA, our mission is simple: We re here to help our customers
More informationdeliver on what matters most to your future Making the change to Fidelity Investments Airborne Express Capital Accumulation Plan
Making the change to Fidelity Investments We re changing! As previously announced, we re making some changes to the Airborne Express Capital Accumulation Plan changes that will give you more choice and
More informationA plan for tomorrow can make all the difference
Nationwide Variable Universal Life Accumulator Client guide A plan for tomorrow can make all the difference Make your future count 1 NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY 2 Tomorrow starts today
More informationUBS Financial Services Inc.
UBS Financial Services Inc. Retirement Plan Asset Allocation Guide Planning how to invest for your retirement may be one of the most important decisions you ll ever make. Asset allocation is a strategy
More informationDiversified Managed Allocations
Diversified Managed Allocations Multi-strategy portfolios with a focus on flexibility Is this program right for you? DMA is designed for investors who: Want experienced, professional money managers to
More informationYOUR GUIDE TO GETTING STARTED
Rochester Regional Health 401(k) Defined Contribution Plan Invest in your retirement and yourself today, with help from the Rochester Regional Health 401(k) Defined Contribution Plan and Fidelity. YOUR
More informationParticipant Asset Allocation: Questionnaire and Core Models
Participant Asset Allocation: Questionnaire and Core Models Morgan Stanley: Aligning Investment Strategy with Long-Term Objectives introduction Table of Contents Asset Allocation Questionnaire How you
More informationWhat Works. Our time-tested approach to investing is very straightforward. And we re ready to make it work for you. Three important steps.
What Works Our time-tested approach to investing is very straightforward. And we re ready to make it work for you. Three important steps. Ten effective principles. Three important steps. Ten effective
More informationANNUITIES VARIABLE. MetLife Retirement Perspectives. asset allocation questionnaire
ANNUITIES VARIABLE MetLife Retirement Perspectives asset allocation questionnaire Asset Allocation Questionnaire The following questions will enable you to determine your time horizon and risk tolerance
More informationAdvanced Series Trust (formerly, American Skandia Trust)
Advanced Series Trust (formerly, American Skandia Trust) P RO S P E C T U S M a y 1, 2 0 0 7 The Fund is an investment vehicle for life insurance companies ("Participating Insurance Companies") writing
More informationFinancial Wellness & Education. Understanding mutual funds
Financial Wellness & Education Understanding mutual funds Benefits of mutual funds Foresters Financial Services, Inc. provides everyday families and individuals with financial solutions, guidance and tools,
More informationCounty of Santa Clara Deferred Compensation Plan Investment Options Guide
County of Santa Clara Deferred Compensation Plan Investment Options Guide As described in the Transition Guide, after your Plan s transition to Fidelity is complete, your investment lineup will continue
More informationCaring for longer than a lifetime
Life insurance Caring for longer than a lifetime Your 5-minute Guide Life goes on prepare for it Your love for your family will live forever. However, we all know we won t live forever. Life insurance
More informationFranklin Templeton 529 College Savings Plan OFFERED NATIONWIDE BY THE NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY
Franklin Templeton 529 College Savings Plan OFFERED NATIONWIDE BY THE NEW JERSEY HIGHER EDUCATION STUDENT ASSISTANCE AUTHORITY What Does the Future Hold? As soon as your child is born, you begin imagining
More informationThe Advisors Inner Circle Fund II KOPERNIK GLOBAL ALL-CAP FUND
The Advisors Inner Circle Fund II KOPERNIK GLOBAL ALL-CAP FUND Class A Shares: KGGAX Class I Shares: KGGIX Summary Prospectus June 29, 2015 Before you invest, you may want to review the Fund s complete
More informationThe Olstein Funds. The Olstein All Cap Value Fund. Strategic Opportunities Fund. Adviser Class (OFAFX) Class C (OFALX)
The Olstein All Cap Value Fund Adviser Class (OFAFX) Class C (OFALX) The Olstein Strategic Opportunities Fund Adviser Class (OFSFX) Class A (OFSAX) Class C (OFSCX) P R O S P E C T U S O C T O B E R 3 1,
More informationLower-cost investing coming soon
Lower-cost investing coming soon A valuable benefit keeps getting better The University of North Carolina (UNC) System retirement programs are one of the great benefits you have as an employee, giving
More informationGetting on the Right Path with Your Workplace Savings Plan Boyce Brice January 18, 2016
Getting on the Right Path with Your Workplace Savings Plan Boyce Brice January 18, 2016 So, you re starting to think about saving for retirement Today s agenda: Steps to prioritizing your savings Benefits
More informationSUN LIFE TACTICAL ETF PORTFOLIOS
INVESTOR QUESTIONNAIRE SUN LIFE TACTICAL ETF PORTFOLIOS FIND YOUR FIT I L L U M I N A T I N G SUN LIFE TACTICAL ETF PORTFOLIOS INVESTOR QUESTIONNAIRE This questionnaire is designed to help you and your
More informationInvesting Essentials. Your dreams are too important to leave to chance
Investing Essentials Your dreams are too important to leave to chance Your investing goals are as unique as you are. Whether you re investing on your own or working with one of our Investment Consultants,
More informationFranklin NextStep Funds
Franklin NextStep Funds June 30, 2016 MONTHLY PORTFOLIO UPDATE The Simple Way to Invest: Franklin NextStep Funds Simplicity All-in-one portfolios matched to three levels of risk. Diversification A broad
More informationYour RSP Investment Options
Your RSP Investment Options DuPont Retirement Savings Plan When you participate in the DuPont Retirement Savings Plan (RSP), you need to decide how to invest your contributions. Your decision should take
More informationALIGNING INVESTMENT CHOICES WITH YOUR INDIVIDUAL GOALS. Freedom Foundation Portfolios
ALIGNING INVESTMENT CHOICES WITH YOUR INDIVIDUAL GOALS Freedom Foundation Portfolios Freedom Foundation Portfolios Freedom Foundation Portfolios are diversified investment portfolios that have been constructed
More informationEssential Skills: The Basics of Asset Allocation
Essential Skills: The Basics of Asset Allocation Today s Agenda What is asset allocation and why is it important Three major asset classes and their associated risks Factors in determining an appropriate
More information#2 DECIDE HOW TO INVEST
#2 DECIDE HOW TO INVEST To decide how to invest, choose the investment option that best fits your personality and current situation. As your situation changes over time, you may want to consider changing
More informationVoya Life Companies Asset Allocation Solutions
Voya Life Companies Asset Allocation Solutions Voya Global Perspectives Portfolio Voya Retirement Portfolios Custom Allocation Models This material must be preceded or accompanied by the variable universal
More informationAnnual Review Workbook
Annual Review Workbook G R O U P R E T I R E M E N T S O L U T I O N S Getting ready for your annual review. An annual review of your retirement savings including your investment options and contributions
More informationPNC Investments Client Schedule of Commissions & Fees
PNC Investments Client Schedule of Commissions & Fees PNC Investments (PNCI) Financial Advisors 1 work closely with you, taking time to fully understand your current financial situation, establish and
More informationINVESTMENT GUIDE. Table of Contents. Introduction About Savings Plus... 1 How to Invest for Your Retirement... 1
INVESTMENT GUIDE INVESTMENT GUIDE Table of Contents Introduction About Savings Plus... 1 How to Invest for Your Retirement... 1 Section 1: Asset Allocation Two Key Elements of Asset Allocation... 3 How
More informationPlan for Your Future. Morgan Stanley Can Help You Achieve Your Financial Goals
Plan for Your Future Morgan Stanley Can Help You Achieve Your Financial Goals 2 MORGAN STANLEY 2016 What Are Your Hopes and Dreams? REGARDLESS OF WHAT STAGE YOUR LIFE IS IN moving ahead in your career,
More informationMarket Decode: How Bonds Work and What They Can Do for You
Market Decode: How Bonds Work and What They Can Do for You Matthew Diczok, head of Fixed Income Strategy, Merrill Lynch Investment Management Please see important information at the end of this program.
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 informationAsset Allocation: A Strategy for Life
Asset Allocation: A Strategy for Life Today s Agenda Why asset allocation can be important Tools for asset allocation Determining your asset allocation Fine-tuning your strategy Why Is Asset Allocation
More informationYour Guide to Getting Started
The Piedmont Healthcare, Inc. 401(k) TomorrowPlan Invest in your retirement and yourself today, with help from the Piedmont Healthcare Inc. 401(k) Tomorrowplan and Fidelity. Your Guide to Getting Started
More informationYOUR GUIDE TO GETTING STARTED
Savings Plus Plan, Lam Research 401(k) Invest in your retirement and yourself today, with help from Lam Research and Fidelity. YOUR GUIDE TO GETTING STARTED Invest some of what you earn today for what
More informationYour investment. Your choice.
ONCORE VARIABLE ANNUITIES Your investment. Your choice. This material is for general use with the public and is not intended to provide investment advice for any individual. NOT A DEPOSIT NOT FDIC INSURED
More informationSpecial Needs Trust Foundation
Special Needs Trust Foundation Investment Policy Statement January 18, 2013 This investment policy statement should be reviewed and updated at least annually. Any change to this policy should be communicated
More informationWestfield Capital Dividend Growth Fund
The Advisors Inner Circle Fund II Westfield Capital Dividend Growth Fund Institutional Class Shares (WDIVX) Investor Class Shares (WCDGX) Prospectus March 1, 2017 Investment Adviser: Westfield Capital
More informationPrincipal LifeTime portfolios. Investment options that strive to keep pace with life
LifeTime portfolios Investment options that strive to keep pace with life Most of us need a little help when it comes to saving for retirement. If you re like many, you may not have the time or interest
More informationUnderstanding ASSET ALLOCATION
Understanding ASSET ALLOCATION An Educational Guide for Your Financial Future VLC0443-0917 . TABLE OF CONTENTS Get Ready for Retirement... 1 What Is Asset Allocation?... 1 Diversification May Lessen the
More informationTAKING THE NEXT STEP. Simplicity. An all-in-one portfolio matched to three levels of risk
Multi-Asset TAKING THE NEXT STEP You re working hard for your money. The next step is getting your money to work for you. Each of the three Franklin NextStep Funds are professionally managed, diversified
More informationUBS Financial Services Inc. Retirement Plan Asset Allocation Guide
ab UBS Financial Services Inc. Retirement Plan Asset Allocation Guide Planning how to invest for your retirement may be one of the most important decisions you ll ever make. Asset allocation is a strategy
More informationTHE DURSO WEALTH MANAGEMENT GROUP S DISCRETIONARY PORTFOLIO MANAGEMENT INVESTMENT STRATEGIES
Morgan Stanley 20 Linden Place Red Bank, NJ 07701 (732) 936-3400 THE DURSO WEALTH MANAGEMENT GROUP AT MORGAN STANLEY THE DURSO WEALTH MANAGEMENT GROUP S DISCRETIONARY PORTFOLIO MANAGEMENT INVESTMENT STRATEGIES
More informationASSET ALLOCATION MADE EASY
ASSET ALLOCATION MADE EASY REACHING YOUR GOALS AT YOUR PACE Most people can rattle off their investment goals: retirement, college tuition, a new house. That s easy. What s harder is successfully reaching
More informationEvaluating Your Investment Options
UPMC Savings Plan 1 Evaluating Your Investment Options 2017 This document contains copyrighted information and may not be reproduced. UPMC Savings Plan 2 Evaluating Your Choices Your plan is "participant-directed",
More informationHelping bring health & well-being to your financial future. Your Bon Secours Retirement Savings Plan Enrollment Guide
Helping bring health & well-being to your financial future Your Bon Secours Retirement Savings Plan Enrollment Guide Invest some of what you earn today for what you plan to accomplish tomorrow. Dear Employee:
More informationFidelity Portfolio Advisory Service. Focused on you and your financial goals
Fidelity Portfolio Advisory Service Focused on you and your financial goals Let us take the weight of investing off your shoulders. A Fidelity Portfolio Advisory Service managed account can help take the
More informationProspectus. RMB Mendon Financial Services Fund RMBKX (Class A) RMBNX (Class C) RMBLX (Class I)
MAY 1, 2018 Prospectus RMB FUNDS RMB Fund RMBHX (Class A) RMBJX (Class C) RMBGX (Class I) RMB Mendon Financial Services Fund RMBKX (Class A) RMBNX (Class C) RMBLX (Class I) RMB Mendon Financial Long/Short
More informationCheck in to. your future. Enrollment Overview Crestline Hotels & Resorts, LLC Retirement and Savings Plan
Check in to your future Enrollment Overview Crestline Hotels & Resorts, LLC Retirement and Savings Plan Check in to your future! You spend your time every day caring for our guests. But are you taking
More information