All performance is gross of fees. The paper portfolio performance is hypothetical and was calculated as follows: At portfolio inception, we uploaded paper portfolios onto Bloomberg’s “PORT” portfolio management system, and the software tracks daily total returns by calculating the total return of each security (using the prices on the Bloomberg system each day along with any dividends) and aggregating to the portfolio level. These daily returns are then chain linked to calculate the geometric monthly and annual returns shown here. At each quarterly rebalance date (typically on the weekend following the 12th of Feb, May, Aug, and Nov), a revised portfolio with the new rebalancing weights was added to the system, which was then used for the subsequent quarter. Although the returns reflect decisions made on the rebalancing dates and are not backtested, they are hypothetical and assume end of day prices based on Bloomberg's pricing that may not be truly executable (and cannot capture transaction costs and market impact). Because the performance is hypothetical, it does not comply with GIPS standards. Past performance is not indicative of future results. All investing is subject to risk, including the possible loss of the money you invest. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. Investments could lose money over short or even long periods. You should expect your account value to fluctuate within a wide range, just as the overall stock market does. Your performance can be hurt if stock prices decline, including cyclical periods of falling prices. Investments in foreign stocks can be riskier than U.S. stock investments because they tend to be more volatile and less liquid. They are also subject to the risks of negative events in specific countries or regions. The factors underlying the specific strategies selected may experience long periods of underperformance, causing results to be less than expected. Additionally, poor security selection may cause underperformance relative to benchmarks or other funds with a similar investment objectives.
Annual Performance
All performance is gross of fees. The paper portfolio performance is hypothetical and was calculated as follows: At portfolio inception, we uploaded paper portfolios onto Bloomberg’s “PORT” portfolio management system, and the software tracks daily total returns by calculating the total return of each security (using the prices on the Bloomberg system each day along with any dividends) and aggregating to the portfolio level. These daily returns are then chain linked to calculate the geometric monthly and annual returns shown here. At each quarterly rebalance date (typically on the weekend following the 12th of Feb, May, Aug, and Nov), a revised portfolio with the new rebalancing weights was added to the system, which was then used for the subsequent quarter. Although the returns reflect decisions made on the rebalancing dates and are not backtested, they are hypothetical and assume end of day prices based on Bloomberg's pricing that may not be truly executable (and cannot capture transaction costs and market impact). Because the performance is hypothetical, it does not comply with GIPS standards. Past performance is not indicative of future results. All investing is subject to risk, including the possible loss of the money you invest. Investments in stocks or bonds issued by non-U.S. companies are subject to risks including country/regional risk and currency risk. Investments could lose money over short or even long periods. You should expect your account value to fluctuate within a wide range, just as the overall stock market does. Your performance can be hurt if stock prices decline, including cyclical periods of falling prices. Investments in foreign stocks can be riskier than U.S. stock investments because they tend to be more volatile and less liquid. They are also subject to the risks of negative events in specific countries or regions. The factors underlying the specific strategies selected may experience long periods of underperformance, causing results to be less than expected. Additionally, poor security selection may cause underperformance relative to benchmarks or other funds with a similar investment objectives.
Annual Performance
