SEI Income Portfolio. Investment Policy Statement

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "SEI Income Portfolio. Investment Policy Statement"

Transcription

1 SEI Income Portfolio Investment Policy Statement

2 INTRODUCTION An Investment Management Program will determine the right mix of investments for your personal situation in order to meet your long-term investment goals. This proposal has been prepared to assist you in this important decision. Development of a personalized Investment Management Program provides a disciplined and systematic approach to investing. It guides you in defining your personal investment objectives to determine a suitable portfolio. With all of the investment choices available, this plan helps you to evaluate the many choices and create a well-designed plan specific to your needs. The purpose of our program is to determine how your investment assets will be divided among the available investment alternatives. Your plan will usually depend on your financial objectives, time horizon, risk tolerance, and present financial situation. Over 90% of the variation in returns is due to the asset allocation of investments in your portfolio. How you allocate your investment dollars far outweighs the potential effects of security selection and market timing. This is based on the Nobel-prize winning concept of Modern Portfolio Theory - that through intelligent diversification you can help protect against many investment risks. Gains in one investment may help offset losses in another. This proposal will outline an investment plan designed to provide you with consistent, longterm performance while maintaining a risk level that is comfortable for you. I will design and implement a formal investment plan outlining your total investment picture and the approach we plan to take. Together, we will set specific investment goals and I will recommend an appropriate portfolio structure. Adopting an investment plan is a critical element in reaching your financial objectives. It should be carefully determined. And, because your individual circumstances may change from time-to-time, your plan should be reviewed and adjusted accordingly. INVESTMENT ADVISORY SERVICES How Our Services Benefit You: Highly Personalized Service Objective Review of Products and Services in the Market Exclusive Access to Institutional Programs Development of a Formal Investment Plan Including Setting Goals and Recommending a Portfolio Structure Ongoing Evaluation of Results Responsibility for Managing All Aspects of Your Investments

3 Development of an Investment Management Program Successful investing is best accomplished by helping investors first determine and then meet their investment objectives. Our investment philosophy is founded on four key principles: Asset Allocation Portfolio Structure Use of Specialist Investment Managers Continuous Portfolio Management We believe the application of this philosophy will add value by enhancing returns and reducing risk, thereby increasing the likelihood of achieving your goals. Asset Allocation Asset allocation is the central theme of our investment philosophy and the primary factor in determining investment results. Studies have shown that the asset allocation decision can explain more than 90% of the variation in total portfolio return. Therefore, how you allocate your investment dollars among the three major asset classes: stocks, bonds, and cash -- far outweighs the potential effects of which security to buy and when. Through effective asset allocation, you have the potential to earn more consistent results than with a narrowly focused, one dimensional investment program, thus smoothing the long-term ride in terms of market cycle volatility. Asset Allocation Is The Primary Factor In Performance Variability Over Time Spreading Your Risk Through Diversification Source: Brinson, Singer, and Beebower (1991) - Financial Analysts Journal, May/June 1991.

4 Portfolio Structure The stock and bond markets are composed of numerous styles and sectors (e.g. large cap value stocks, small cap growth stocks, government bonds, etc.). We will diversify your portfolio within and across these asset classes which will help you access the return potential of the financial markets, while at the same time managing your investment risk. By spreading your investments among various styles within each asset class, we further manage risk. Use of Specialist Investment Managers Once we have a fully diversified portfolio structure in place, we select specialist money managers to manage individual pieces of the portfolio. Using multiple managers is a key aspect of our approach. The more investment styles represented, the greater the diversification in your portfolio. The more diversification, the less risk for your money. For this selection process, I've chosen SEI, an industry expert in investment manager research and selection. Their rigid selection process has resulted in a team of approximately 30 of the most talented money managers in the world.

5 These specialist money managers are selected from a database of over 5,000 money managers responsible for 15,000 investment products. Managers are analyzed by performing a variety of quantitative measurements such as style analysis, risk/return analysis, and performance attribution analysis. We select specialists who adhere to a distinct investment discipline, which gives them the opportunity for greater consistency and predictability of results. This use of specialist managers is consistent with our view on diversification across and within asset classes. It is the same strategy followed by large institutional investors. These specialist money managers manage the assets of many of North America s largest corporations and wealthiest individuals. Because of the large minimums these managers require to open an account, their services are typically available only to investors who have millions of dollars to invest. By leveraging our relationship with SEI we offer you greater buying power. SEI s Manager Selection Process The manager selection process begins with extensive database searches and concludes with qualitative research and face-to-face interviews. Only the specialist managers whose investment philosophy and past performance meet the highest of standards are selected. Once chosen, these managers are continually monitored to ensure that their investment style and performance remain consistent with their objectives. Team of 30 Specialist Managers

6 Continuous Portfolio Management Your portfolio will be rebalanced regularly to assure that the target mix of assets is maintained. Rebalancing helps reduce risk while keeping your investment plan on the right course. Each manager is also constantly monitored and is subject to replacement should they fail to achieve stated goals or if they stray from their stated philosophy or process. This very controlled process should lead to more predictable results over time. You also benefit from the potential for enhanced returns due to a commitment by each specialist manager to superior security selection within their area of the market. Through SEI's direct link, online system and their team of experienced analysts, all trades all rigorously monitored. Our Alliance with SEI To implement your portfolio, we have partnered with SEI, an independent global asset management company that takes a disciplined, objective approach to investing. This approach is the same approach that pension funds use to select managers. It has been developed from their unique position in the industry and years of research on financial markets and investment managers. Previously available only to very large institutional clients, the SEI approach to asset management is now open to high-net-worth individuals and smaller institutional investors through a select network of advisory firms.

7 Investment Policy Statement The purpose of this Investment Policy Statement (the Statement ) is to establish a clear understanding between the Investor and the Investment Advisor (the Advisor ), as to the investment objectives and policies applicable to the Investor s investment portfolio (the Portfolio ). This Statement will: Establish reasonable expectations, objectives, and guidelines in the investment of the Portfolio s assets. Set forth an investment structure detailing permitted asset classes, normal allocations and permissible ranges of exposure for the Portfolio. Encourage effective communication between the Investor and the Advisor. Create a framework for a well-diversified asset mix that can be expected to generate acceptable long-term returns at a level of risk suitable to the Investor. This Statement has been developed from an evaluation of many key factors that impact the Investor s specific situation and investment objectives. This Statement is not a contract. The Statement is intended to be a summary of an investment philosophy that provides guidance to the Investor and the Advisor. INVESTMENT STRATEGY Our firm s approach to managing assets is based on the creation of an optimal asset allocation to fit your needs. We will then implement style-structured portfolios to support your required asset allocation in order to enhance investment performance while controlling risk. After our initial analysis, we have determined that the following strategy would be appropriate to allow you to take advantage of diversification across asset classes and styles offering you the potential for increased performance and reduced risk. The portfolio invests in institutional mutual funds that focus on specific segments of each asset class.

8 RECOMMENDED PORTFOLIO STRATEGY AND STRUCTURE The Income Portfolio seeks to provide a high level of current income. As a secondary objective, the Portfolio seeks to provide some growth and inflation protection through a small exposure to equities. The Portfolio is suitable for conservative investors with a short term investment time horizon of three to five years. While the Portfolio invests predominantly (80%) in Canadian fixed income securities, a small exposure (20%) to Canadian and U.S. equities is provided to provide diversification and an opportunity for some growth and inflation protection. The fixed income portion of the Portfolio invests primarily in high quality Canadian Government and Corporate bonds as well as Global fixed income securities with varying terms to maturity. Allocations to Canadian and U.S. equity securities are invested with fund managers who focus primarily on large-sized companies and some small-sized companies. Numerous specialist money managers, who employ distinct styles of fixed income and equity portfolio management, including value and growth styles, are utilized. Since styles go in and out of favour over market cycles, diversification across these styles provides broad market exposure and may reduce the volatility of returns. Income Portfolio Canadian Equity 10.0% Canadian Equity Fund 10.0% Foreign Equity 10.0% U.S. Large Company Equity Fund 5.0% U.S. MidCap Synthetic Fund 1.0% EAFE Equity Fund 4.0% Fixed Income 80.0% Canadian Fixed Income Fund 42.0% Long Duration Bond Fund 4.0% Real Return Bond Fund 11.0% Enhanced Global Bond Fund 8.0% Short Term Bond Fund 15.0%

9 Investment Performance Review of Recommended Approach Although past performance is no indication of future returns, the chart below will provide you with the historical returns of the investments being recommended to you (based on O Class units of the underlying SEI Funds net of 2.5% program fee). Historical Returns as of September 30, 2008 Annualized Returns Quarter Year to Date 1-Yr 2-Yr 3-Yr 4-Yr 5-Yr Since Inception Income Portfolio -4.9% -3.4% -2.4% -0.3% 0.2% 2.2% 2.7% 3.2% Notes: The performance shown is calculated by applying target asset allocation of the SEI Portfolio to the Underlying Funds. Actual experience of investors in the SEI Portfolio may vary from the performance shown above due to factors such as cash flow and rebalancing activities. Inception date for this SEI Portfolio is December 31, 1998 and since inception performance is calculated from this date. The indicated rates of return are the historical annual compounded total returns assuming the investment strategy recommended by the SEI Portfolio and after deduction of the fees and charges in respect of the service. The rates of return for periods of less than one year are simple rates of return. The returns are based on the historical annual compounded total returns of the underlying Funds including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder in respect of an Underlying Fund that would have reduced returns. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

10 THE PORTFOLIO The Portfolio will maintain an active asset allocation strategy. The Portfolio will be invested exclusively in SEI mutual funds. As a result, assets held in the Portfolio will be highly liquid. Investment managers are selected and monitored on the basis of the following criteria: The manager s specification of, and adherence to, a clearly articulated and appropriate investment philosophy and process. Material changes in the manager s organization and personnel. Comparison of investment performance to appropriate indices that take into account asset class and investment style. INVESTMENT INFORMATION, GUIDELINES & POLICIES The Income Portfolio seeks to provide a high level of current income. As a secondary objective, the Portfolio seeks to provide some growth and inflation protection through a small exposure to equities. Guidelines and Policies: Time Horizon The Portfolio is suitable for conservative investors with a short term investment time horizon of 3 to 5 years. Capital values do fluctuate over shorter periods and the Investor should recognize that the possibility of capital loss does exist no matter what the Investor s investment time horizon may be. However, historical asset class return data suggest that the risk of principal loss over a holding period of three years or longer can be minimized with the long-term investment mix employed by the Portfolio. Guidelines and Policies: Risk Tolerances and Performance Expectations The Investor recognizes that the objectives of the Portfolio cannot be achieved without incurring a certain amount of principal volatility. The Portfolio will be managed in a style-controlled manner that seeks to minimize principal fluctuations over the established time horizon and that is consistent with the Portfolio s stated objectives. The Investor should realize that the mutual funds comprising the Portfolio invest primarily in high quality Canadian Government and Corporate bond securities with varying terms to maturity. A modest allocation to Canadian and U.S. equity securities is invested with fund managers who focus primarily on large-sized companies and some small-sized companies. The allocation to equity securities provides both diversification and an opportunity for capital appreciation.

11 Investment managers appointed by the Investment Committee to each mutual fund employ a range of distinct portfolio management styles. Diversification across these styles provides broad market exposure and reduces the volatility of returns. Financial research has demonstrated that price volatility can be further reduced by lengthening the investment time horizon. No guarantees can be given about future performance and this Statement shall not be construed as offering such guarantee. Guidelines and Policies: Rebalancing Procedures From time-to-time, market conditions may cause the Portfolio s investments in various mutual funds to vary from the established allocation. To remain consistent with the asset allocation guidelines established by this Statement, the Portfolio will be reviewed on a regular basis and rebalanced back to the normal weighting if the actual weighting varies by 5% or more from the recommended weighting. Guidelines and Policies: Reporting Services The Investor will be provided with a comprehensive investor-reporting package. Reporting services will include Quarterly Statements of Value and Activity with Investor Performance Reports and Year End Tax Reports.

12 DUTIES AND RESPONSIBILITIES Investment Advisor: The Advisor is responsible for assisting the Investor in making an appropriate asset allocation recommendation based on the particular needs, objectives, and risk profile of the Investor. The Advisor will be available on a regular basis (but no less frequently than annually) to meet with the Investor and periodically review the Portfolio for suitability based on information provided by the Investor. The Advisor shall provide the Investor with the current prospectus for each mutual fund in the Portfolio selected. Investor: The Investor must provide the Advisor with all relevant information on financial condition, net worth, and risk tolerances. The Investor is responsible for ensuring that the information provided is complete and accurate and shall notify the Advisor promptly of any changes to this information. The Investor must understand that successful investing requires time and is in agreement to give this investment program time to work. The Investor must understand that there will be periodic adjustments made to the asset allocation and investment management recommendations and that it is important to follow the advice and recommendations in order to achieve your financial objectives. The Investor shall read and understand the information contained in the prospectus of each mutual fund in the Portfolio selected.

13 SUMMARY Strengths of Our Program The major strength of our approach is the combination of competency and monitoring that we will deliver to you in an integrated and totally bundled investment program. We will meet on a regular basis to see if any changes have impacted your investments. We will also provide you with one of the most comprehensive and easy-to-understand account reporting packages available today. You will receive a Quarterly Statement of Value and Activity with Investor Performance Report. We will help you to analyze and understand your investment results and answer any questions you may have. Fees and Expenses All expenses are fully disclosed. Our advisory fee is a fixed annual percentage of your total account size. By basing our fee arrangement on the size of your account it means that our success is based on growing your total account and making you a success. Performance information shown in this report is net of all mutual fund fees and expenses, and after the deduction of fees in respect of the portfolio. Our Commitment To You The success of any relationship depends on establishing clear commitments and expectations from the very beginning. As your Investment Advisor, here is what you can expect from me and my firm: Personalized Service Portfolio Structure Designed for Your Personalized Needs An Exclusive, Research-Based, Highly Diversified, Quality Approach Asset Allocation Providing Diversification Access to a Superior Team of Specialist Money Managers Disciplined, Continuous Money Manager Monitoring Formal Investment Policy Statement Customized Reporting Package On-going Unbiased Financial Advice For more information about SEI and the SEI Family of Mutual Funds, visit The Underlying Funds and their weightings in the SEI Portfolio are subject to change from time to time at the Manager s discretion. The portfolio managers or the allocations of assets to a particular portfolio manager are subject to change from time to time at the Manager s discretion. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments and the use of asset allocation service, such as the SEI Portfolios. Please read the prospectus of the mutual funds in which investment may be made under the SEI Portfolio before investing. The information contained herein is for general information purposes only and is not intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment. You should not act or rely on the information contained herein without obtaining specific legal, tax, accounting and investment advice from an investment professional. This communication does not constitute any offer or solicitation to residents of the U.S. or the U.K., or to anyone in a jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such a solicitation.

SEI Aggressive Global Equity Portfolio

SEI Aggressive Global Equity Portfolio SEI Aggressive Global Equity Portfolio Investment Policy Statement INTRODUCTION An Investment Management Program will determine the right mix of investments for your personal situation in order to meet

More information

GOALS-BASED SHORT TERM PORTFOLIO Investment Policy Statement

GOALS-BASED SHORT TERM PORTFOLIO Investment Policy Statement GOALS-BASED SHORT TERM PORTFOLIO Investment Policy Statement The purpose of this document The purpose of this investment policy statement is to provide a framework for your investment plan. Through it

More information

SAMPLE INVESTMENT POLICY STATEMENT

SAMPLE INVESTMENT POLICY STATEMENT SAMPLE INVESTMENT POLICY STATEMENT 2003 Prepared by: Jay D. Ahlbeck, CLU, ChFC JDA & Associates Securities and Advisory Services offered through Mutual Service Corporation, a Registered Investment Advisor,

More information

Total 100% Performance - S Class. Top 25 Quarterly Holdings CONSERVATIVE MONTHLY INCOME FUND. Fund Volatility. Canadian Equity 13% Foreign Equity 17%

Total 100% Performance - S Class. Top 25 Quarterly Holdings CONSERVATIVE MONTHLY INCOME FUND. Fund Volatility. Canadian Equity 13% Foreign Equity 17% CONSERVATIVE MONTHLY INCOME FUND Performance as at July 31, 2016 Facts Inception Date: Feb 2009 Management Expense Ratio (MER): 1.72% Trading Expense Ratio (TER): 0.03% Expenses (Total Cost): 1.75% Net

More information

INVESTMENT POLICY STATEMENT Valued Client

INVESTMENT POLICY STATEMENT Valued Client INVESTMENT POLICY STATEMENT Valued Client August 17, 2010 PREPARED BY: John Ohl Bay Colony Advisors 91 Main St STE 308 Concord, Massachusetts 01742 (978) 369-7200 John@baycolonyadvisors.com www.baycolonyadvisors.com

More information

STATEMENT OF POLICY AND INVESTMENT OBJECTIVES. The University of North Carolina at Pembroke Endowment Board. and

STATEMENT OF POLICY AND INVESTMENT OBJECTIVES. The University of North Carolina at Pembroke Endowment Board. and STATEMENT OF POLICY AND INVESTMENT OBJECTIVES The University of North Carolina at Pembroke Endowment Board and The University of North Carolina at Pembroke Foundation, Inc. December 1, 2010 TABLE OF CONTENTS

More information

Investment Policy Statement. Sample XYZ Foundation NOT FOR CLIENT USE. Approved on <<date>>

Investment Policy Statement. Sample XYZ Foundation NOT FOR CLIENT USE. Approved on <<date>> Sample XYZ Foundation Approved on By Board of Directors This investment policy statement should be reviewed and updated at least annually. Any change to this policy should be communicated in writing

More information

Your investment options

Your investment options Your investment options Contents Introducing RBC Global Asset Management i Serving Clients with a Winning Strategy i Investing Starts with Understanding Your Goals ii Guaranteed Investment Certificates

More information

The potential benefits of diversification

The potential benefits of diversification The potential benefits of diversification The case for diversification Over the past few years, pension schemes have faced challenging market conditions and investment performance has been mixed, leading

More information

A portfolio that matches your plans.

A 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 information

5Strategic. decisions for a sound investment policy

5Strategic. decisions for a sound investment policy 5Strategic decisions for a sound investment policy 1 An investment policy sets your course for the long term. Managers of billion-dollar pension and endowment funds know it s nearly impossible to beat

More information

Statement of Investment Policy, Objectives, & Guidelines

Statement of Investment Policy, Objectives, & Guidelines Statement of Investment Policy, Objectives, & Guidelines A. GENERAL INFORMATION The name of Church Endowment Fund, full address, (hereafter Endowment Fund or Fund ) hereby adopts this Statement of Investment

More information

A Guide To DEFINED FOCUSED DISCIPLINED

A Guide To DEFINED FOCUSED DISCIPLINED A Guide To F I R S T T R U S T U N I T I N V E S T M E N T T R U S T S DEFINED FOCUSED DISCIPLINED W H A T I S A U N I T I N V E S T M E N T T R U S T? U I T F E A T U R E S A unit investment trust or

More information

Your investment options

Your investment options Your options Contents Introducing RBC Global Asset Management i Serving Clients with a Winning Strategy i Investing Starts with Understanding Your Goals ii Guaranteed Investment Certificates 1 Group Savings

More information

Calaveras Community Foundation Investment Policy Statement

Calaveras Community Foundation Investment Policy Statement Investment Policy Statement Adopted July 12 th 2011 Investment Policy Statement Table of Contents A. Purpose.1 B. Background..1 C. Objectives.1 D. Risk Tolerance.2 E. Investment Guidelines / Asset Allocation.

More information

Investors Cornerstone I Portfolio

Investors Cornerstone I Portfolio Annual Management Report of Fund Performance FOR THE PERIOD ENDED MARCH 31, 2016 CAUTION REGARDING FORWARD-LOOKING STATEMENTS This report may contain forward-looking statements about the Portfolio Fund,

More information

INSTITUTIONAL TRUST & CUSTODY. Big Bank Capabilities, Mid-Market Focus SM. Investment Management

INSTITUTIONAL TRUST & CUSTODY. Big Bank Capabilities, Mid-Market Focus SM. Investment Management INSTITUTIONAL TRUST & CUSTODY Big Bank Capabilities, Mid-Market Focus SM Investment Management At U.S. Bank Institutional Trust & Custody, we are trusted investment advisors to corporations, municipalities,

More information

Private Investment Management. A disciplined investment approach

Private Investment Management. A disciplined investment approach Private Investment Management A disciplined investment approach 03 A disciplined investment approach You have been able to accumulate a substantial amount of capital. However, the challenge is to preserve

More information

AMERICAN REGISTRY OF INTERNET NUMBERS INVESTMENT POLICY STATEMENT January 2014

AMERICAN REGISTRY OF INTERNET NUMBERS INVESTMENT POLICY STATEMENT January 2014 AMERICAN REGISTRY OF INTERNET NUMBERS INVESTMENT POLICY STATEMENT January 2014 Introduction This statement of investment policy has been adopted by the Board of Trustees of the American Registry of Internet

More information

FIDUCIAN AUSTRALIAN SHARES FUND

FIDUCIAN AUSTRALIAN SHARES FUND PRODUCT DISCLOSURE STATEMENT FIDUCIAN AUSTRALIAN SHARES FUND ARSN 093 542 271 2 MARCH 2015 This Product Disclosure Statement (PDS) provides a summary of significant information about the Fiducian Australian

More information

PORTFOLIO OBJECTIVES

PORTFOLIO OBJECTIVES Save The Investor. Save The World. www.matsonmoney.com 5955 DEERFIELD BOULEVARD MASON, OHIO 45040 P: (513) 204-8000 F: (513) 204-8005 PORTFOLIO OBJECTIVES Aggressive Growth Strategy - Page 2 Long - Term

More information

Investing 101. Small Steps Can Make a Difference. Investing 101. Investing 101

Investing 101. Small Steps Can Make a Difference. Investing 101. Investing 101 Small Steps Can Make a Difference Today s Agenda Saving vs. Investing Investment Basics: Cash Bonds Stocks Mutual Funds Asset Allocation 2 Today s Agenda What would you like to get out of today s session?

More information

Principles for investment success. We believe you will give yourself the best chance of investment success if you focus on what you can control

Principles for investment success. We believe you will give yourself the best chance of investment success if you focus on what you can control Principles for investment success We believe you will give yourself the best chance of investment success if you focus on what you can control Important information This guide has been produced for educational

More information

Private Wealth Management Mutual Fund Solution

Private Wealth Management Mutual Fund Solution Private Wealth Management Mutual Fund Solution A Step-by-Step Guide to Investment Success In Collaboration with Portfolio Resources Group, Inc. The Strategic Approach to Building Mutual Fund Portfolios

More information

Financial advisers How they can help

Financial advisers How they can help Financial advisers How they can help This guide has been produced for educational purposes only and should not be regarded as a substitute for investment advice. Vanguard Asset Management, Limited only

More information

PH&N LifeTime Funds. Investment Guide

PH&N LifeTime Funds. Investment Guide Investment Guide PH&N LIFETIME FUNDS Your One-Fund Retirement Solution A Leading Global Asset Manager for Canadian Investors Established in 1964, Phillips, Hager & North Investment Management (PH&N IM)

More information

Building an Investment Strategy

Building 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 information

Portfolio Management Consultants Perfecting the Portfolio

Portfolio Management Consultants Perfecting the Portfolio Portfolio Management Consultants Perfecting the Portfolio Envestnet PMC is the ultimate advisor to the advisor. Our goal is to help advisors strengthen relationships with their clients and improve outcomes

More information

University of Miami Growth Pool Statement of Investment Policy

University of Miami Growth Pool Statement of Investment Policy University of Miami Growth Pool Statement of Investment Policy Introduction December 2014 This document presents the investment process of the University of Miami s Growth Pool ( Growth Pool ), including

More information

FIDUCIAN TECHNOLOGY FUND

FIDUCIAN TECHNOLOGY FUND PRODUCT DISCLOSURE STATEMENT FIDUCIAN TECHNOLOGY FUND ARSN 093 544 337 2 MARCH 2015 This Product Disclosure Statement (PDS) provides a summary of significant information about the Fiducian Technology Fund

More information

Funds in Court Information Guide INVESTMENT RISKS

Funds in Court Information Guide INVESTMENT RISKS Funds in Court Information Guide INVESTMENT RISKS NOTE: The information in this document is for information purposes only. The information is not intended to be and does not constitute financial advice

More information

The Board of Trustees is responsible for the oversight of the investment operations of the Foundation. The Boards specific responsibilities are:

The Board of Trustees is responsible for the oversight of the investment operations of the Foundation. The Boards specific responsibilities are: STATEMENT OF INVESTMENT OBJECTIVES AND POLICIES FOR INVESTMENTS June 2016 This policy applies to funds invested by the Community Foundation of Utah (the Foundation ), including the Foundation s Endowments

More information

128 Union Street, Suite 507 New Bedford, MA (888)

128 Union Street, Suite 507 New Bedford, MA (888) Wrap Fee Brochure September 8, 2014 128 Union Street, Suite 507 New Bedford, MA 02740 (888) 992-8601 www.barryinvestmentadvisors.com This wrap fee brochure provides information about the qualifications

More information

Mutual Fund Advisory Program

Mutual Fund Advisory Program Mutual Fund Advisory Program GIVING YOU ACCESS TO A WIDE RANGE OF PROFESSIONALLY MANAGED MUTUAL FUND PORTFOLIOS THE MUTUAL FUND ADVISORY PROGRAM OFFERS YOU: > Access to actively managed investment solutions

More information

PRINCIPAL ASSET ALLOCATION QUESTIONNAIRES

PRINCIPAL ASSET ALLOCATION QUESTIONNAIRES PRINCIPAL ASSET ALLOCATION QUESTIONNAIRES FOR GROWTH OR INCOME INVESTORS ASSET ALLOCATION PRINCIPAL ASSET ALLOCATION FOR GROWTH OR INCOME INVESTORS Many ingredients go into the making of an effective investment

More information

PRIVATE CLIENT MANAGED PORTFOLIOS

PRIVATE CLIENT MANAGED PORTFOLIOS PRIVATE CLIENT MANAGED PORTFOLIOS To sim lif, reserve an enhance. United Financial Private Client Managed Portfolios Your wealth is the cumulative result of your hard work, discipline, and astute management.

More information

DSIP List (Diversified Stock Income Plan)

DSIP List (Diversified Stock Income Plan) Kent A. Newcomb, CFA, Equity Sector Analyst Joseph E. Buffa, Equity Sector Analyst DSIP List (Diversified Stock Income Plan) Commentary from ASG's Equity Sector Analysts January 2014 Concept Review The

More information

Fund Fact Sheet. ExxonMobil Savings Plan

Fund Fact Sheet. ExxonMobil Savings Plan Fund Fact Sheet ExxonMobil Savings Plan ExxonMobil Stock When you buy Exxon Mobil Corporation Common Stock (ExxonMobil stock), you become an ExxonMobil shareholder and an owner of the company. As an owner

More information

Benefits of Separately Managed Accounts

Benefits of Separately Managed Accounts 703 Market Street, 18th Floor San Francisco, CA 94103 800.541.7774 Benefits of Separately Managed Accounts Separately Managed Accounts are known under a number of other names including individually managed

More information

BRINKER CAPITAL OVERVIEW. Helping You Invest with Confidence

BRINKER CAPITAL OVERVIEW. Helping You Invest with Confidence BRINKER CAPITAL OVERVIEW Helping You Invest with Confidence PARTIALLY INVESTED PERIODIC INVESTMENT FULLY INVESTED Unwavering Focus on Investment Excellence For more than 25 years, Brinker Capital has been

More information

Asset allocation A balancing act.

Asset allocation A balancing act. Asset allocation A balancing act. 273224 V (3/16) RiverSource Life Insurance Company and RiverSource Life Insurance Co. of New York Smart Strategies for Investing If you are like most investors, you probably

More information

A DIFFERENT APPROACH TO EQUITY INVESTING Sprott Enhanced Equity Strategy

A DIFFERENT APPROACH TO EQUITY INVESTING Sprott Enhanced Equity Strategy A DIFFERENT APPROACH TO EQUITY INVESTING Sprott Enhanced Equity Strategy John Wilson takes a different approach to equity investing John Wilson joined Sprott in January 2012 as Senior Portfolio Manager

More information

The Pinnacle Funds. Simplified Prospectus. December 11, 2009 Class A and Class F units and Class I units where noted. Money Market Fund.

The Pinnacle Funds. Simplified Prospectus. December 11, 2009 Class A and Class F units and Class I units where noted. Money Market Fund. The Pinnacle Funds Simplified Prospectus December 11, 2009 Class A and Class F units and Class I units where noted Money Market Fund Pinnacle Short Term Income Fund Bond Funds Pinnacle Income Fund Pinnacle

More information

INVESTMENT POLICY STATEMENT

INVESTMENT POLICY STATEMENT INVESTMENT POLICY STATEMENT Revised June 2015 1 P a g e 1. Statement of Purpose The Board of Directors of the Campanile Foundation has adopted this Investment Policy Statement in recognition of their responsibility

More information

STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES. WASHINGTON AND LEE UNIVERSITY The General Endowment Fund. Approved May 2007

STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES. WASHINGTON AND LEE UNIVERSITY The General Endowment Fund. Approved May 2007 STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES WASHINGTON AND LEE UNIVERSITY The General Endowment Fund Approved May 2007 This statement is issued by the investment committee of the board of trustees

More information

MANAGER SELECT. live your. dream. By Implementing Sophisticated Investment Strategies

MANAGER SELECT. live your. dream. By Implementing Sophisticated Investment Strategies MANAGER SELECT live your dream By Implementing Sophisticated Investment Strategies Maximize the Value of Your Assets Your Total Wealth Management Strategy Full-time professional supervision Disciplined

More information

Welcome! Thanks for investing your time today.

Welcome! Thanks for investing your time today. Welcome! Thanks for investing your time today. Please sign in Fill out your name tag Address your mail card It s not about how much money you earn. It s about how much you save and invest. October 2015

More information

It s your retirement.

It s your retirement. MNDCP It s your retirement. Keep it on target. And keep it simple. 1 Click to learn more! Looking for an easier way to invest for retirement? With these three simple steps, you can save more, invest wisely

More information

Renaissance Charitable Foundation Inc.

Renaissance Charitable Foundation Inc. Charitable Foundation Inc. Revised July 2008 I. Statement of Purpose The intent of this is to establish guidelines that will govern the investment activities of ( RCF ) and any Registered Investment Advisor

More information

Your Investment Policy Statement. Your Investor Profile

Your Investment Policy Statement. Your Investor Profile Your Investment Policy Statement Date: 03/21/10 Prepared for : John Sample Address: Province: Postal Code: 123 Any Street Ontario A1B 2C3 Phone: (123) 456-7890 Prepared by: Dealer Address: Province: Postal

More information

The Role of Alternative Investments in a Diversified Investment Portfolio

The Role of Alternative Investments in a Diversified Investment Portfolio The Role of Alternative Investments in a Diversified Investment Portfolio By Baird Private Wealth Management Introduction Traditional Investments Domestic Equity International Equity Taxable Fixed Income

More information

Commonwealth of Pennsylvania State Employees Retirement Board. Private Equity Statement of Investment Policy. Adopted April 21, 2004

Commonwealth of Pennsylvania State Employees Retirement Board. Private Equity Statement of Investment Policy. Adopted April 21, 2004 Commonwealth of Pennsylvania State Employees Retirement Board Private Equity Statement of Investment Policy Adopted April 21, 2004 Amended January 27, 2016 Private Equity Statement of Investment Policy

More information

FUND FACTS. Meritage Canadian Equity Portfolio Advisor Series. Quick facts. What does the fund invest in? How risky is it?

FUND FACTS. Meritage Canadian Equity Portfolio Advisor Series. Quick facts. What does the fund invest in? How risky is it? FUND FACTS August 18, 2016 Meritage Canadian Equity Portfolio Advisor Series This document contains key information you should know about the Meritage Canadian Equity Portfolio. You can find more detailed

More information

Retirement 2015 Fund

Retirement 2015 Fund SUMMARY PROSPECTUS TRRGX PARHX RRTMX Investor Class Advisor Class R Class October 1, 2016 T. Rowe Price Retirement 2015 Fund A fund managed based on a specific retirement year that seeks capital growth

More information

Voya Life Companies Asset Allocation Solutions

Voya 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 information

Financial Wellness & Education. Understanding mutual funds

Financial Wellness & Education. Understanding mutual funds Financial Wellness & Education Understanding mutual funds Benefits of mutual funds Foresters Financial Services provides everyday families and individuals with financial solutions, guidance and tools,

More information

Exchange Traded Funds A Brief Introduction

Exchange Traded Funds A Brief Introduction Exchange Traded Funds A Brief Introduction spdrs.com What You Need to Know about ETFs ETF Basics Potential Benefits of ETFs ETFs versus Mutual Funds The Role of ETFs in Your Portfolio Our Next Steps Frequently

More information

Managed Advisory Platform

Managed Advisory Platform Managed Advisory Platform Focus Financial is proud to present the Managed Advisory Platform (MAP) Service. This program enables you to diversify by several different investment styles and asset management

More information

INVESTMENT POLICY STATEMENT KESLOV FAMILY TRUST

INVESTMENT POLICY STATEMENT KESLOV FAMILY TRUST INVESTMENT POLICY STATEMENT KESLOV FAMILY TRUST February 27, 2009 PREPARED BY: Big Time Advisors 14 Washington Street Suite 900 Boise, Idaho 86868 (999) 444-6677 mail@bigtimeadvisors.com www.bta Table

More information

The Power of Low-Correlation Investing. Wealth Strategies How to think about the core building blocks of your portfolio

The Power of Low-Correlation Investing. Wealth Strategies How to think about the core building blocks of your portfolio The Power of Low-Correlation Investing Wealth Strategies How to think about the core building blocks of your portfolio Smart Investing Begins with Planning Effective investment planning is concrete problem-solving.

More information

UNIVERSITY OF VERMONT STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES

UNIVERSITY OF VERMONT STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES UNIVERSITY OF VERMONT STATEMENT OF INVESTMENT POLICIES AND OBJECTIVES I. INTRODUCTION This statement is issued by the Investment Subcommittee (the ISC ) of the Board of Trustees of the University of Vermont

More information

private client managed portfolios

private client managed portfolios private client managed portfolios Simplify, preserve and enhance. Your wealth is the cumulative result of your hard work, discipline, and astute management. Yet the opportunities it affords may also come

More information

Wells Fargo Dow Jones Target 2045 Fund

Wells Fargo Dow Jones Target 2045 Fund Summary Prospectus July 1, 2016 Wells Fargo Dow Jones Target 2045 Fund Class/Ticker: Class A - WFQVX Link to Prospectus Link to SAI Before you invest, you may want to review the Fund's prospectus, which

More information

Enjoy the Benefits of Professional Wealth Management Quantitative InnovationsSM Investment Advisory Program

Enjoy the Benefits of Professional Wealth Management Quantitative InnovationsSM Investment Advisory Program Enjoy the Benefits of Professional Wealth Management Quantitative InnovationsSM Investment Advisory Program As an individual investor, you have access to more investment options than ever. With these choices,

More information

A L L I A N Z V A R I A B L E I N S U R A N C E P R O D U C T S F U N D O F F U N D S T R U S T ( T H E T R U S T )

A L L I A N Z V A R I A B L E I N S U R A N C E P R O D U C T S F U N D O F F U N D S T R U S T ( T H E T R U S T ) A L L I A N Z V A R I A B L E I N S U R A N C E P R O D U C T S F U N D O F F U N D S T R U S T ( T H E T R U S T ) Prospectus dated April 25, 2016 The AZL Fusion Funds AZL MVP Fusion SM Balanced Fund

More information

R.B. RESOLUTION NO BASIC INVESTMENT POLICIES AND OBJECTIVES OF THE EAST BAY MUNICIPAL UTILITY DISTRICT EMPLOYEES' RETIREMENT SYSTEM

R.B. RESOLUTION NO BASIC INVESTMENT POLICIES AND OBJECTIVES OF THE EAST BAY MUNICIPAL UTILITY DISTRICT EMPLOYEES' RETIREMENT SYSTEM R.B. RESOLUTION NO. 6713 Introduced by: BASIC INVESTMENT POLICIES AND OBJECTIVES OF THE EAST BAY MUNICIPAL UTILITY DISTRICT EMPLOYEES' RETIREMENT SYSTEM Joe ~~'3 Seconded by: fra...n ~ \...la.,\~ WHEREAS,

More information

Good Practice Checklist

Good Practice Checklist Investment Governance Good Practice Checklist Governance Structure 1. Existence of critical decision-making bodies e.g. Board of Directors, Investment Committee, In-House Investment Team, External Investment

More information

Understanding Investment Concepts

Understanding Investment Concepts Version 4.0 Preparation Date: 2 November 2009 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to investment concepts.

More information

A: SGEAX C: SGECX I: SGEIX

A: SGEAX C: SGECX I: SGEIX A: SGEAX C: SGECX I: SGEIX NOT FDIC INSURED MAY LOSE VALUE NO BANK GUARANTEE Salient Global Equity Fund The investment objective of the Salient Global Equity Fund (the Fund ) is to seek long term capital

More information

A guide to investing in unit investment trusts

A guide to investing in unit investment trusts A guide to investing in unit investment trusts What you should know before you buy Wells Fargo Advisors wants to ensure that you are investing in the products that best suit your financial situation, investment

More information

Monitored Target Date Fund Program 2 Overview

Monitored Target Date Fund Program 2 Overview Monitored Target Date Fund Program 2 Overview The Monitored Target Date Fund Program 2 ( MTDFP 2 ) is an investment solution consisting of a series of Standard Life Target Date Funds ( TDFs ) and a pre-set

More information

Pension Fund Association Statement of Investment Policy

Pension Fund Association Statement of Investment Policy Formulated on August 1, 2006 Revised on November 26, 2014 Pension Fund Association Statement of Investment Policy The Pension Fund Association (hereinafter referred to PFA ) sets out the policy for investment

More information

National Bank Strategic Portfolios. A Sound Investment

National Bank Strategic Portfolios. A Sound Investment National Bank Strategic Portfolios A Sound Investment 03 What are the Strategic Portfolios? Six portfolios designed to meet the needs of six different investor profiles. Optimal diversification by asset

More information

SUMMARY PROSPECTUS CALVERT AGGRESSIVE ALLOCATION FUND INVESTMENT OBJECTIVE FEES AND EXPENSES OF THE FUND. Example. Portfolio Turnover

SUMMARY PROSPECTUS CALVERT AGGRESSIVE ALLOCATION FUND INVESTMENT OBJECTIVE FEES AND EXPENSES OF THE FUND. Example. Portfolio Turnover SUMMARY PROSPECTUS February 1, 2016, as revised April 11, 2016 CALVERT AGGRESSIVE ALLOCATION FUND Class (Ticker): A (CAAAX) C (CAACX) Link to Prospectus (Table of Contents) Link to Statement of Additional

More information

Vanguard Target Retirement Funds

Vanguard Target Retirement Funds Vanguard Target Retirement Funds Help your clients reach their retirement goals This document is directed at professional investors and should not be distributed to, or relied upon by, retail investors.

More information

ENDOWMENT FUND POLICIES AND GUIDELINES

ENDOWMENT FUND POLICIES AND GUIDELINES ENDOWMENT FUND POLICIES AND GUIDELINES FOR ST. GEORGE EPISCOPAL CHURCH THE VILLAGES, FLORIDA SECTION A Investment Policy Statement 1 2 3 4 5 6 7 8 9 10 11 12 13 Purpose This Investment Policy Statement

More information

Where Smart Money Is Invested

Where Smart Money Is Invested Where Smart Money Is Invested An Executive Summary of Winning With Integrity: A Powerful Guide to Successful Investing with Individually Managed Accounts / Separately Managed Accounts Effectively managing

More information

MML SERIES INVESTMENT FUND

MML SERIES INVESTMENT FUND This Prospectus describes the following Funds. MML SERIES INVESTMENT FUND MML Money Market Fund seeks to maximize current income, preserve capital and maintain liquidity by investing in money market instruments.

More information

ALTERNATIVE INVESTMENTS: MYTHS & MISCONCEPTIONS

ALTERNATIVE INVESTMENTS: MYTHS & MISCONCEPTIONS ALTERNATIVE INVESTMENTS: MYTHS & MISCONCEPTIONS Many investors mistakenly think of alternative investments as being only for ultra-high-net-worth individuals and institutions. However, due to a number

More information

Separately Managed Accounts:

Separately Managed Accounts: 2016 Separately Managed Accounts: A detailed look at a professionally managed investment program for higher-net-worth clients. Executive Summary Investors can get access to professional money managers

More information

INVESTMENT POLICY STATEMENT

INVESTMENT POLICY STATEMENT INVESTMENT POLICY STATEMENT I. EXECUTIVE SUMMARY The Investment Policy Statement ( IPS ) has been adopted by the Board of Directors ( Board ) of Gompers Habilitation Center to direct the prudent oversight

More information

TARGET ALLOCATION FUNDS

TARGET ALLOCATION FUNDS madisonfunds.com Madison, Wisconsin Capitol Dome TARGET ALLOCATION FUNDS madisonfunds.com SIMPLIFY INVESTING Asset allocation, critical to investment success, is easy with Madison Funds: You receive: An

More information

What you will learn today. Different categories of investments Choosing your investment mix Common investor pitfalls Determining your next steps

What you will learn today. Different categories of investments Choosing your investment mix Common investor pitfalls Determining your next steps Investing 101 What you will learn today Different categories of investments Choosing your investment mix Common investor pitfalls Determining your next steps 2 Asset Allocation One of Your Most Important

More information

Advisor Guide. For Advisor Use Only Not for distribution to clients

Advisor Guide. For Advisor Use Only Not for distribution to clients Advisor Guide For Advisor Use Only Not for distribution to clients Managed solutions can provide many benefits to your practice. Their convenience allows you to shift your time from portfolio construction

More information

FTIF Templeton Global Bond Fund

FTIF Templeton Global Bond Fund FTIF Templeton Global Bond Fund The STRATEGY Investment Goal FTIF Templeton Global Bond Fund seeks to maximize total return, with a combination of interest income, capital appreciation and currency gains

More information

Did you know you can use a professional money

Did you know you can use a professional money 401(k) or 403 (b) Did you know you can use a professional money manager to help manage your 401(k) or 403(b) assets? Hanlon Investment Management, Inc. has been successfully providing investment management

More information

Crawford Managed Income Strategy

Crawford Managed Income Strategy Crawford Managed Income Strategy A separately managed portfolio offering current income from individual securities Crawford Investment Counsel, Inc. Crawford Managed Income Strategy A separately managed

More information

The Statue of Liberty Ellis Island Foundation Endowment. Investment Policy Policy 6-1

The Statue of Liberty Ellis Island Foundation Endowment. Investment Policy Policy 6-1 The Statue of Liberty Ellis Island Foundation Endowment New York, New York Investment Policy Policy 6-1 Revised: January 2012 Investment Policy Statement for the Management of the Assets of The Statue

More information

September 2010 Report No. 11-003

September 2010 Report No. 11-003 John Keel, CPA State Auditor Selected Investment Practices at the Texas Treasury Safekeeping Trust Company, the Employees Retirement System, and the Texas A&M University System Report No. 11-003 Selected

More information

Multi-Asset. Not FDIC Insured May Lose Value No Bank Guarantee

Multi-Asset. Not FDIC Insured May Lose Value No Bank Guarantee Multi-Asset Not FDIC Insured May Lose Value No Bank Guarantee 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

More information

Dow Australia Superannuation Fund

Dow Australia Superannuation Fund Dow Australia Superannuation Fund Investment Guide ISSUED: 1 JULY 2016 The information in this document forms part of: the Product Disclosure Statement for Employee members (including Insurance Only members),

More information

Children s Organ Transplant Association, Inc. Investment Policy Statement

Children s Organ Transplant Association, Inc. Investment Policy Statement Children s Organ Transplant Association, Inc. Investment Policy Statement For Patient Accounts Smith Memorial Account Administrative Account Endowment Funds Updated August 13, 2011 Document Prepared by:

More information

AN INTEGRATED INVESTMENT PROCESS FOCUSED ON FUNDAMENTALS

AN INTEGRATED INVESTMENT PROCESS FOCUSED ON FUNDAMENTALS SEPTEMBER 30, 2016 PFDAX PACIFIC FUNDS SM SMALL/MID-CAP SUBADVISED BY: ROTHSCHILD ASSET MANAGEMENT INC. Class A Class C Advisor Class Investor Class 133 PFPCX 333 PFMDX 033 PFIRX 633 A TIME-TESTED PROCESS

More information

INVESTOR GUIDE. Understand your investment options with Savings Plus

INVESTOR GUIDE. Understand your investment options with Savings Plus INVESTOR GUIDE Understand your investment options with Savings Plus Invest in your future As a participant in Savings Plus, you are both a saver and an investor. Every investor is different. Therefore,

More information

MACKENZIE PRIVATE WEALTH COUNSEL

MACKENZIE PRIVATE WEALTH COUNSEL MACKENZIE PRIVATE WEALTH COUNSEL PORTFOLIO ARCHITECTURE SERVICE INVESTMENT PHILOSOPHY Mackenzie Private Wealth Counsel Portfolio Architecture Service Investment Philosophy THE IMPORTANCE OF ASSET ALLOCATION

More information

ANNUITIES VARIABLE. MetLife Retirement Perspectives. asset allocation questionnaire

ANNUITIES VARIABLE. MetLife Retirement Perspectives. asset allocation questionnaire LINE BAN ANNUITIES VARIABLE MetLife Retirement Perspectives asset allocation questionnaire Asset Allocation Questionnaire The following questions will enable you to determine your time horizon and risk

More information

PRIVATE WEALTH MANAGEMENT PRIVATE WEALTH MANAGEMENT TEAM GLOBAL

PRIVATE WEALTH MANAGEMENT PRIVATE WEALTH MANAGEMENT TEAM GLOBAL PRIVATE WEALTH MANAGEMENT TEAM GLOBAL 2013 AGENDA OVERVIEW DISCRETIONARY PORTFOLIOS CONSULTING AND ADVISORY BROKERAGE CLIENT SERVICES 1 OVERVIEW 2 OUR TEAM S OFFERING PHILOSOPHY Conservation of principal

More information

THE DURSO WEALTH MANAGEMENT GROUP S DISCRETIONARY PORTFOLIO MANAGEMENT INVESTMENT STRATEGIES

THE 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 information

Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor. October, 2008

Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor. October, 2008 Making Sense of Market Volatility: Retirement Planning Strategies for the Everyday Investor October, 2008 1 Market Ups and Downs Recent news is full of anxiety-causing developments: Credit crunch Bank

More information