SEI Strategic Portfolios Expected Range of Returns. May 2015
|
|
- Andrew Rogers
- 7 years ago
- Views:
Transcription
1 SEI Strategic Portfolios Expected Range of Returns May 2015
2 Capital Market Assumptions for Asset Allocation Modeling Estimating and monitoring capital market assumptions (CMAs) is an integral part of SEI s strategic asset allocation process. These assumptions are designed to be long-term in nature and are intended to be a reasonable approximation for a wide range of return behaviour that asset classes can potentially exhibit through various market cycles. Estimating these assumptions requires a solid analysis of the key drivers of risk and return in each asset category. Our capital market assumptions include estimates of expected returns, return volatility, correlations, yields, active management return (alpha), and active management risk (tracking error). We also develop views on performance characteristics such as autocorrelation, skew and kurtosis particularly for those investments that deviate most clearly from the common statistical framework of normally distributed returns. Asset class assumptions are set using a combination of empirical and qualitative analysis. Empirical analysis ensures that our assumptions reflect historical performance. Our qualitative analysis is targeted towards capturing long-term trends and structural changes that are not yet reflected in the historical data. It provides an additional means for adjusting for the effect of unrealistic or unsustainable short-term valuations or trends, opting instead for return levels and behaviour that are more likely to prevail over long periods. The result of our analyses is a series of forward looking indicators that produce a realistic picture of how portfolios are likely to behave through time. Ultimately, the value of these assumptions is not in their accuracy as point estimates, but in their ability to capture relevant relationships and changes in those relationships as a function of economic and market influences. Changes in market structure and composition can cause our best thinking to deviate from historical estimates. Changes in assumptions may have a material impact on the projections presented. All projected returns are presented gross of all fees and charges and are not necessarily indicative of the future or likely performance of the portfolios, especially over a short-term time period. The CMAs are revisited on a regular basis to reflect the changes in the market environment. The forecasts shown in the pages following are not necessarily indicative of the future or likely performance of the portfolios, especially over a short-term time period.
3 SEI Strategic Portfolio Allocations Projections using SEI Capital Market Assumptions. SEI SEI SEI SEI SEI SEI SEI Defensive Conservative Moderate Core Balanced Growth Aggressive Fund Fund Fund Fund Fund Fund Fund Liquidity 25% 12% 1% 1% 1% Fixed Income 57% 50% 47.6% 38% 26.4% 16% Equity 7% 20% 32.1% 45.2% 62% 80% 100% Income 5% 7% 4.3% 1.8% 1.6% Inflation-Sensitive Assets 4% 5% 5% 6% 5% 4% Absolute Return 2% 6% 10% 8% 4% Cash & Cash Equivalents 25% 12% 1% 1% 1% Global Short Duration Fixed Income 40% 30% 20.14% 5% 2% UK Fixed Income 6% 8% 10% 12.4% 6% Global Government Fixed Income 3% 3% 4% 5% 4% 2% Global Credit Fixed Income 3% 3% 4% 5% 3% 2% High Yield 5% 6% 7.42% 7.8% 6.2% 6% High Yield Emerging Market Debt 2% 3% 5% 6% Global Managed Volatility 7% 16% 22.14% Global Developed Markets Equity 7% 8% 10% 13% UK Equity 4% 10% 17% 24% 31% 39% US Large Companies Equity 11% 12% 15% 18% US Small Companies Equity 1% 3% 4% 5% European Equity 3% 3% 4% 5% Pan European Small Companies 1% 2% 3% 3% Japan Equity 2% 3% 3% 4% Pacific Basin Ex-Japan Equity 1% 2% 2% 3% Emerging Market Equity 2% 5% 8% 10% Multi-Asset Income 5% 7% 4.3% 1.8% 1.6% Commodities 2% 3% 3% 4% 3% 2% Inflation-linked bonds 2% 2% 2% 2% 2% 2% Absolute Returns 2% 6% 10% 8% 4% TOTAL 100% 100% 100% 100% 100% 100% 100% Expected Returns 3.6% 4.8% 5.8% 6.9% 7.8% 8.5% 9.0% Expected Standard Deviation 3.3% 5.6% 8.0% 11.6% 14.5% 17.6% 20.2% Poor Market Drawdown -10% -19% -29% -43% -52% -61% -68% The SEI Strategic Portfolios may invest in a combination of SEI and Third-Party Funds as well as in additional manager pools based on asset classes. These manager pools are pools of assets from the respective Strategic Portfolio separately managed by Portfolio Managers which are monitored by SEI. One cannot directly invest in these manager pools. Asset allocations represent strategic long-term baseline allocations as of 31st May Allocations subject to change. For information on the current target active allocations, please see appendix.
4 Returns Expected range of returns Standard Deviation 1 SEI Strategic Portfolios 9.0% 8.0% Growth Aggressive 7.0% 6.0% 5.0% 4.0% 3.0% Defensive Conservative Moderate Core Balanced Growth-Focused 2.0% Stability-Focused 1.0% 5.0% % % Standard Deviation Source: SEI. Allocations subject to change; as per 31st May Projections using SEI Capital Market Assumptions
5 Returns Expected range of returns Drawdown 1 SEI Strategic Portfolios 9.0% 8.0% 7.0% Balanced Growth Aggressive 6.0% 5.0% 4.0% 3.0% Moderate Conservative Defensive Core Growth-Focused 2.0% Stability-Focused 1.0% Poor Market Drawdown Source: SEI. Allocations subject to change; as per 31st May Projections using SEI Capital Market Assumptions
6 Expected Range of Returns Over a Twenty-Year Time Period 6
7 Expected Returns Expected Range of Returns Defensive Fund 8.0% 7.0% 6.0% Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations. 5.0% 95% 4.0% 3.6% 50% Percentiles 3.0% 2.0% 5% 1.0% -1.0% -2.0% Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
8 Expected Returns Expected Range of Returns Conservative Fund 12.0% 1 Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations. 8.0% 95% 6.0% 4.0% 4.8% 50% Percentiles 2.0% 5% -2.0% Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
9 Expected Returns Expected Range of Returns Moderate Fund 16.0% 14.0% 12.0% Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations % 95% 6.0% 5.8% 50% Percentiles 4.0% 2.0% 5% -2.0% -4.0% Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
10 Expected Returns Expected Range of Returns Core Fund % Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations. 1 95% 6.9% 50% Percentiles 5.0% 5% -5.0% Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
11 Expected Returns Expected Range of Returns Balanced Fund 25.0% 2 Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations. 15.0% 95% 1 7.8% 50% Percentiles 5.0% 5% -5.0% Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
12 Expected Returns Expected Range of Returns Growth Fund % 2 Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations. 15.0% 95% 1 8.5% 50% Percentiles 5.0% 5% -5.0% Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
13 Expected Returns Expected Range of Returns Aggressive Fund 35.0% % Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations % 95% 1 9.0% 50% Percentiles 5.0% 5% -5.0% % Time Horizon (Years) The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
14 Expected Range of Returns Over a Three-Year Time Period 14
15 Expected Returns SEI Strategic Portfolios Projections Using SEI Capital Market Assumptions 35.0% % Expected Range of Returns 3-Year Time Horizon Figures are gross and based in GBP Source: SEI s Capital Markets Assumptions for asset class returns, risks and correlations % 1 5.0% 3.6% 4.8% 5.8% 6.9% 7.8% 8.5% 9.0% Percentiles -5.0% % Defensive Conservative Moderate Core Balanced Growth Aggressive The 95th percentile represents the value below which 95% of outcomes fall. The 50th percentile is the median value where half the outcomes are higher and half the outcomes are lower than that value. The 5th percentile represents the value below which 5% of outcomes fall. Source: SEI. Allocations subject to change; as per 31st May Current Standardised performance is available on request.
16 Important Information This material is not directed to any persons where (by reason of that person s nationality, residence or otherwise) the publication or availability of this material is prohibited. Persons in respect of whom such prohibitions apply must not rely on this information in any respect whatsoever. Investment in the funds or products described herein are available only to intended recipients and this communication must not be relied or acted upon by anyone who is not an intended recipient. While considerable care has been taken to ensure the information contained within this document is accurate and up-to-date, no warranty is given as to the accuracy or completeness of any information and no liability is accepted for any errors or omissions in such information or any action taken on the basis of this information. SEI Investments (Europe) Limited acts as distributor of collective investment schemes which are authorised in Ireland pursuant to the UCITS regulations and which are collectively referred to as the SEI Funds in these materials. These umbrella funds are incorporated in Ireland as limited liability investment companies and are managed by SEI Investments Global, Limited, an affiliate of the distributor. SEI Investments (Europe) Limited utilises the SEI Funds in its asset management programme to create asset allocation strategies for its clients. Reference in this document to any SEI Funds should not be construed as a recommendation to buy or sell these securities or to engage in any related investment management services. Recipients of this information who intend to apply for shares in any SEI Fund are reminded that any such application must be made solely on the basis of the information contained in the Prospectus (which includes a schedule of fees and charges and maximum commission available). Commissions and incentives may be paid and if so, would be included in the overall costs. A copy of the Prospectus can be obtained by contacting your Financial Advisor, SEI Relationship Manager or using the contact details below. Past performance is not a guarantee of future performance. Investments in SEI Funds are generally medium to long term investments. The value of an investment and any income from it can go down as well as up. Fluctuations or movements in exchange rates may cause the value of underlying internal investments to go up or down. Investors may not get back the original amount invested. SEI Funds may use derivative instruments which maybe used for hedging purposes and/or investment purposes. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events. The risks described below may apply to the underlying assets of the products into which the Strategic Portfolios invest: Investment in equity securities in general are subject to market risks that may cause their prices to fluctuate over time. Fixed income securities are subject to credit risk and may also be subject to price volatility and may be sensitive to interest rate fluctuations. Absolute return investments utilise aggressive investment techniques which may increase the volatility of returns. If the correlation between absolute return investments and other asset classes within the fund increases, absolute return investments expected diversification benefits may be decreased. International investments may involve risk of capital loss from unfavourable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Narrowly focused investments and smaller companies typically exhibit higher volatility. The performance of the Fund may therefore rise and fall as a result of exchange rate fluctuations. This information is issued by SEI Investments (Europe) Limited ( SIEL ), Time & Life Building, 1 Bruton Street, 4th Floor, London W1J 6TL, United Kingdom +44 (0) This document and its contents are directed only at persons who have been classified by SIEL as a Professional Client, or an Eligible Counterparty, for the purposes of the FCA New Conduct of Business Sourcebook. SIEL is authorised and regulated by the Financial Conduct Authority.
17 Appendix
18 SEI Strategic Portfolio Target Allocations Current column represents each Funds target active allocation. A blue-shaded cell (white font) represents an overweight position; a grey-shaded cell (black font) represents an underweight position versus the strategic weight. All targets are as at 31 st March Allocations subject to change.
19 SEI Strategic Portfolio Target Allocations Current column represents each Funds target active allocation. A blue-shaded cell (white font) represents an overweight position; a grey-shaded cell (black font) represents an underweight position versus the strategic weight. All targets are as at 31 st March Allocations subject to change.
SEI Japan Equity Fund As at 30th June, 2009
Benchmark TOPIX Base Currency JPY Currencies Available EUR, GBP Fund Complex SEI Global Assets Fund PLC SEI Japan Equity Fund As at 30th June, 2009 SEI MANAGER OF MANAGERS PHILOSOPHY SEI employs a sophisticated
More informationFiduciary Management. What is Fiduciary Management?
Fiduciary Management What is Fiduciary Management? Fiduciary Management can be defined as a pension management solution which focuses on achieving the long term goals of a pension fund within a defined
More informationProposition Overview
Proposition Overview SEI company profile Founded in 1968, publicly listed company (NASDAQ: SEIC), around 40% of its shares are held by employees, senior management and board members Over US$1.24bn annual
More informationDistribution-Focused Strategies A cash flow strategy for retirement
Distribution-Focused Strategies A cash flow strategy for retirement Designed by advisors to meet the need for steady cash flows in retirement with extensive flexibility and control all with low costs.
More informationDYNAMIC DIVERSIFIED FUND
DYNAMIC DIVERSIFIED FUND The Right Assets at the Right Time The SSgA Dynamic Diversifed Fund uses proven market-aware intelligence to dynamically adjust asset allocation ensuring you are in the right assets
More informationRegistered country information Vanguard Investment Series plc and Vanguard Funds plc
Registered country information Vanguard Investment Series plc and Vanguard Funds plc The value of investments, and the income from them, may fall or rise and investors may get back less than they invested.
More informationTHE NT EUROPE (EX-UK) EQUITY INDEX FUND SUPPLEMENT TO THE PROSPECTUS DATED 17 NOVEMBER 2014 FOR NORTHERN TRUST INVESTMENT FUNDS PLC
THE NT EUROPE (EX-UK) EQUITY INDEX FUND SUPPLEMENT TO THE PROSPECTUS DATED 17 NOVEMBER 2014 FOR NORTHERN TRUST INVESTMENT FUNDS PLC 1 2 Supplement dated 17 November 2014 to the Prospectus dated 17 November
More informationThe UBS Core-Satellite investment approach Build wealth for the long term and make the most of your own investment ideas
The UBS Core-Satellite investment approach Build wealth for the long term and make the most of your own investment ideas StabiIity, opportunity and flexibility build the foundation for optimal results
More informationEquity and Fixed Income Funds The London & Capital Managed Series of UCITS IV Funds
Equity and Fixed Income Funds The London & Capital Managed Series of UCITS IV Funds 1 Equity and Fixed Income Funds London & Capital Equity and Fixed Income Funds London & Capital 2 We are an independently-owned
More informationInvestment Strategy for Pensions Actuaries A Multi Asset Class Approach
Investment Strategy for Pensions Actuaries A Multi Asset Class Approach 16 January 2007 Representing Schroders: Neil Walton Head of Strategic Solutions Tel: 020 7658 2486 Email: Neil.Walton@Schroders.com
More informationWhy Strategic Bond funds are failing investors
Why Strategic Bond funds are failing investors March 2016 For Professional Investors only The rise of Strategic Bonds The IA Sterling Strategic Bond sector was launched to much fanfare in 2008. The birth
More informationMerrill Lynch Factor Index Fund
www.invest.baml.com/funds Merrill Lynch Factor Index Fund INVEST FUNDS September 2011 INVEST UCITS FUNDS INVEST UCITS FUNDS Important Note This brochure is supplied for information purposes only to the
More informationINVESTMENTS FOR LIVING. Introducing Lifestyle Portfolios
INVESTMENTS FOR LIVING Introducing Lifestyle Portfolios I WANT INVESTMENTS THAT GIVE ME FLEXIBILITY AND CHOICE Lifestyle Portfolios from Lloyds Bank International help you keep pace with the ever-changing
More informationHSBC World Selection Portfolios The smart way to diversify your customers investments
HSBC World Selection Portfolios The smart way to diversify your customers investments 2 A smart way to invest 3 The benefit of diversification 6 How is HSBC World Selection managed? 8 What are the advantages
More informationStrength Across the Board Investment Excellence in Fixed Income 30 June 2015
Strength Across the Board Investment Excellence in Fixed Income 30 June 205 Recognising the strength and depth of our Fixed Income range across Europe, the US and Emerging Markets CLASS I EUR Performance
More informationYour Complete Investment Solution taking care of you...
investment funds Your Complete Investment Solution taking care of you... Introduction New Ireland is one of the leading providers of investment solutions within the Irish market today. We offer a range
More informationMETLIFE FUND LIST FOR NEW INVESTMENT
METLIFE FUND LIST FOR NEW INVESTMENT RETIREMENT PORTFOLIO - INVESTMENT BOND PORTFOLIO - TRUSTEE RETIREMENT PORTFOLIO - ISA PORTFOLIO MAY 2016 Contents 1 Introduction 3 2 Managing risk in investment management
More informationCGWM Total Return Bond Fund
To us there are no foreign markets. TM CGWM Total Return Bond Fund Supplement dated 6 October 2015 to the Prospectus dated 6 October 2015 This Supplement contains specific information in relation to the
More informationSterling Investment Bond. Investment funds guide
Sterling Investment Bond Investment funds guide Contents Introduction 3 List of current investment funds by sector 4 Investment choice and flexibility 10 Fund risks 11 Managed funds 12 Multi-Managed funds
More informationAre we living in a Bond Bubble? Oliver Sinnott Fixed Income Strategist April 2014
Are we living in a Bond Bubble? Oliver Sinnott Fixed Income Strategist April 2014 Global Financial Crisis saw debt levels soar to highest since WWII Governments were too highly indebted to significantly
More informationCANACCORD GENUITY INVESTMENT FUNDS PLC. Supplement dated 11 November 2014 to the Prospectus dated 11 November 2014 CGWM SELECT INCOME FUND
CANACCORD GENUITY INVESTMENT FUNDS PLC Supplement dated 11 November 2014 to the Prospectus dated 11 November 2014 CGWM SELECT INCOME FUND This Supplement contains specific information in relation to CGWM
More informationORBIS SICAV ORBIS SICAV. Introductory ORBIS BOOKLET GLOBAL BALANCED FUND
ORBIS SICAV ORBIS SICAV Introductory BOOKLET ORBIS GLOBAL BALANCED FUND ORBIS SICAV Société d Investissement à Capital Variable, R.C.S. Luxembourg B 90 049 Registered Office Orbis SICAV 31, Z.A. Bourmicht
More informationCOMMUNITY FOUNDATION OF GREATER MEMPHIS, INC. INVESTMENT GUIDELINES FOR MONEY MARKET POOL
INVESTMENT GUIDELINES FOR MONEY MARKET POOL discretionary Money Market Pool is expected to pursue their stated investment strategy and follow the investment guidelines and objectives set forth herein.
More informationSEI Income Portfolio. Investment Policy Statement
SEI Income Portfolio Investment Policy Statement INTRODUCTION An Investment Management Program will determine the right mix of investments for your personal situation in order to meet your long-term investment
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on 18 January 2016 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1 ( Prospectus
More informationVarius Global Equity Fund
Varius Global Equity Fund Supplement to the Prospectus dated 12 May 2016 for Platform Capital UCITS ICAV An umbrella fund with segregated liability between sub-funds This Supplement contains specific information
More informationDavy Defensive High Yield Fund from New Ireland
Davy Asset Management For Financial Advisors Only Davy Defensive High Yield Fund from New Ireland Davy Asset Management is regulated by the Central Bank of Ireland. Exposure to: equity-market type returns
More informationdb x-trackers S&P 500 UCITS ETF (DR) Supplement to the Prospectus
db x-trackers S&P 500 UCITS ETF (DR) Supplement to the Prospectus This Supplement contains information in relation to db x-trackers S&P 500 UCITS ETF (DR) (the Fund ), a sub-fund of Concept Fund Solutions
More informationSterling Investment Bond. Investment funds guide
Sterling Investment Bond Investment funds guide Contents Introduction 3 List of current investment funds by sector 4 Investment choice and flexibility 10 Fund risks 11 Managed funds 12 Multi-Managed funds
More informationSEI s Approach to Asset Allocation
SEI s Approach to Asset Allocation Presented by: Jim Smigiel Managing Director and Portfolio Manager Portfolio Strategies Group What is diversification? Sharpe ratio? Peak Sharpe Ratio Loss of efficiency:
More informationSection N: Cambridge University Endowment Fund: Reports and financial statements to 30 June 2013. Cambridge University Endowment Fund
Section N: Cambridge University Endowment Fund: Reports and financial statements to 30 June 2013 Cambridge University Endowment Fund Reports and financial statements 30 June 2013 IMPORTANT NOTICE The Cambridge
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on: 17 October 2013 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1. It is important
More informationThis document introduces the principles behind LDI, how LDI strategies work and how to decide on an appropriate approach for your pension scheme.
for professional clients only. NOT TO BE DISTRIBUTED TO RETAIL CLIENTS. An introduction TO Liability driven INVESTMENT HELPING PENSION SCHEMES ACHIEVE THEIR ULTIMATE GOAL Every defined benefit pension
More informationCommodities. Precious metals as an asset class. April 2011. What qualifies as an asset class? What makes commodities an asset class?
Commodities Precious metals as an asset class April 2011 What qualifies as an asset class? Broadly speaking, an asset class is simply a grouping of assets that possess similar characteristics. Defining
More informationAbsolute return: The search for positive returns in changing markets
Absolute return: The search for positive returns in changing markets Tuesday, 7 June 2011 Portfolio Manager for Global Fixed Income and Absolute Return Funds www.dbadvisors.com Topics for discussion What
More informationPRODUCT HIGHLIGHTS SHEET
Prepared on: 19 October 2012 This Product Highlights Sheet is an important document. It highlights the key terms and risks of this investment product and complements the Singapore Prospectus 1. It is important
More informationUsing Derivatives in the Fixed Income Markets
Using Derivatives in the Fixed Income Markets A White Paper by Manning & Napier www.manning-napier.com Unless otherwise noted, all figures are based in USD. 1 Introduction While derivatives may have a
More informationSIMPLIFIED PROSPECTUS. PIMCO Funds: Global Investors Series plc CommoditiesPLUS Strategy Fund 9 February, 2010
SIMPLIFIED PROSPECTUS PIMCO Funds: Global Investors Series plc CommoditiesPLUS Strategy Fund 9 February, 2010 This Simplified Prospectus sets out information relating to the CommoditiesPLUS Strategy Fund
More informationIndex Solutions A Matter of Weight
Index Solutions A Matter of Weight Newsletter No. 11 Our current newsletter is about weight, or more precisely the weighting of equities in an index. Non-market capitalization weighted indices are at present
More informationInterest Rates and Inflation: How They Might Affect Managed Futures
Faced with the prospect of potential declines in both bonds and equities, an allocation to managed futures may serve as an appealing diversifier to traditional strategies. HIGHLIGHTS Managed Futures have
More informationInvestment Portfolio Management and Effective Asset Allocation for Institutional and Private Banking Clients
Investment Portfolio Management and Effective Asset Allocation for Institutional and Private Banking Clients www.mce-ama.com/2396 Senior Managers Days 4 www.mce-ama.com 1 WHY attend this programme? This
More informationAlternative Investing
Alternative Investing An important piece of the puzzle Improve diversification Manage portfolio risk Target absolute returns Innovation is our capital. Make it yours. Manage Risk and Enhance Performance
More informationRisk management: Building an effective process
Deutsche Bank Group DB Advisors Risk Management: Building an effective process Risk management: Building an effective process When crisis hit global markets, many managers were caught unprepared. In the
More informationEuropean Commission Releases Proposal for Regulation of Money Market Funds 4 September 2013
European Commission Releases Proposal for Regulation of Money Market Funds 4 September 2013 Today the European Commission (EC) released a proposal for a regulation on money market funds (MMFs) established,
More informationDistribution components for non-residents and intermediaries for 30 June 2015 For the income year ended 30 June 2015
This notice is issued for the purposes of Subdivision 12-H of the Taxation Administration Act 1953 in relation to payments made by Managed Investment Trusts to unit holders and intermediaries. Under section
More informationModel Portfolio Fact Sheets
RUSSELL REPORTING Model Portfolio Fact Sheets s Secure Portfolio Comprised mainly of investment strategies designed to weather turbulent market conditions, the Secure Portfolio is best suited to investors
More informationETFs and Index Funds. Similarities and Differences. For professional clients only
ETFs and Index Funds Similarities and Differences For professional clients only Most Exchange Traded Funds (ETFs) and index tracker funds share a common aim. That is, to match the performance of the index
More informationImpact of QE on Fixed Income
Impact of QE on Fixed Income David Greene, Client Portfolio Manager Pioneer Investments Unconstrained Approaches Potential returns mean investors have to be more opportunistic 5 0 Expected return based
More informationAsset Management Portfolio Solutions Disciplined Process. Customized Approach. Risk-Based Strategies.
INSTITUTIONAL TRUST & CUSTODY Asset Management Portfolio Solutions Disciplined Process. Customized Approach. Risk-Based Strategies. As one of the fastest growing investment managers in the nation, U.S.
More informationPRINCIPAL GLOBAL INVESTORS FUNDS. Supplement dated 31 July 2013. for the Long/Short Global Opportunities Equity Fund
PRINCIPAL GLOBAL INVESTORS FUNDS Supplement dated 31 July 2013 for the Long/Short Global Opportunities Equity Fund This Supplement contains specific information in relation to the Long/Short Global Opportunities
More informationSUMMARY PROSPECTUS SIPT VP Conservative Strategy Fund (SVPTX) Class II
April 30, 2016 SUMMARY PROSPECTUS SIPT VP Conservative Strategy Fund (SVPTX) Class II Before you invest, you may want to review the Fund s Prospectus, which contains information about the Fund and its
More informationPROTECTING YOUR PORTFOLIO WITH BONDS
Your Global Investment Authority PROTECTING YOUR PORTFOLIO WITH BONDS Bond strategies for an evolving market Market uncertainty has left many investors wondering how to protect their portfolios during
More informationseic.com/institutions
Nonprofit Management Research Panel Liquidity Pool Management for U.S. Colleges and Universities Gain a better understanding of your school s financial risks and the benefits of integrating the investment
More informationFOR PROFESSIONAL CLIENTS ONLY BETTER DESIGN BETTER OUTCOMES LIFEPATH TARGET DATE FUNDS. Retirement
FOR PROFESSIONAL CLIENTS ONLY BETTER DESIGN BETTER OUTCOMES LIFEPATH DATE FUNDS Retirement Retirement is changing: markets are volatile and people are living longer. More than ever, pension scheme members
More informationCyber security. ETFS ISE Cyber Security GO UCITS ETF. Investing in a safer digital future
Cyber security Investing in a safer digital future About the index The ISE Cyber Security UCITS Index Net Total Return utilises a rules-based investment methodology to select a diverse group of companies
More informationNorthCoast Investment Advisory Team 203.532.7000 info@northcoastam.com
NorthCoast Investment Advisory Team 203.532.7000 info@northcoastam.com NORTHCOAST ASSET MANAGEMENT An established leader in the field of tactical investment management, specializing in quantitative research
More informationMorningstar Highlights
Morningstar Highlights Third quarter Data as of September 30, 2015 Invesco offers funds that have competitive performance relative to their peers across most style boxes. Below are Invesco funds with four-
More informationEquity Sell-off Continues, Bonds Affected
Equity Sell-off Continues, Bonds Affected Executive Summary Portfolio Performance So Far The 1-month performance of all model portfolios have been affected by the recent sell-off in equities, with returns
More informationMarket Risk Capital Disclosures Report. For the Quarter Ended March 31, 2013
MARKET RISK CAPITAL DISCLOSURES REPORT For the quarter ended March 31, 2013 Table of Contents Section Page 1 Morgan Stanley... 1 2 Risk-based Capital Guidelines: Market Risk... 1 3 Market Risk... 1 3.1
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 informationSSgA Qualified Trust. SSgA LDI Leveraged UK Real Rate Swap 2030 Fund SUPPLEMENT NO. 22 DATED: 30 APRIL 2015 MANAGER
The Directors of the Manager of the Trust whose names appear under the section Trust and Management Information - The Manager in the Prospectus are the persons responsible for the information contained
More informationInvestment Risk Profile Questionnaire
Investment Risk Profile Questionnaire Professional Portfolio International Ltd. 209/1 K Tower, Tower B, 19th Fl., Unit 4 Tel +662 664 0968 Sukhumvit 21 Rd.(Asoke), Klongtoey Nua +662 664 0145 Wattana,
More informationJB Certificates and Warrants on Interest Rates in EUR, USD and CHF
JB Certificates and Warrants on Interest Rates in EUR, USD and CHF Efficient instruments to hedge bonds, mortgages and lombard loans against rising interest rates Zurich, 2013 Content Table Embedded risks
More informationROYAL LONDON ABSOLUTE RETURN GOVERNMENT BOND FUND
ROYAL LONDON ABSOLUTE RETURN GOVERNMENT BOND FUND For professional investors only A NEW OPPORTUNITY Absolute return funds offer an attractive, alternative source of alpha outright or as part of a balanced
More informationSUPPLEMENT Davy Cautious Growth Fund
Davy Funds p.l.c. An open-ended umbrella investment company with variable capital and segregated liability between sub-funds incorporated with limited liability in Ireland under the Companies Acts 1963
More informationCrafting a Forward Looking Investment Portfolio
BOURSE SECURITIES LIMITED February 15th, 2016 Crafting a Forward Looking Investment Portfolio This week, we at Bourse evaluate the investment considerations and opportunities having looked previously at
More informationEffective downside risk management
Effective downside risk management Aymeric Forest, Fund Manager, Multi-Asset Investments November 2012 Since 2008, the desire to avoid significant portfolio losses has, more than ever, been at the front
More informationMorningstar Highlights
Morningstar Highlights Second quarter Data as of June 30, 2015 Invesco offers funds that have competitive performance relative to their peers across most style boxes. Below are Invesco funds with four-
More informationETFs and Index Funds. Similarities and Differences. For professional clients only
ETFs and Index Funds Similarities and Differences For professional clients only Most Exchange Traded Funds (ETFs) and index tracker funds share a common aim. That is, to match the performance of the index
More informationIndividual Savings Account and Investment Account. Sterling panel funds guide
Individual Savings Account and Investment Account Sterling panel funds guide Contents Introduction 3 List of current investment funds by sector 4 Investment choice and flexibility 7 Fund risks 8 Managed
More informationGlobal bond investing
Global bond investing Todd Schlanger, CFA Investment Strategy Group Vanguard Asset Management, Limited This document is directed at professional investors and should not be distributed to, or relied upon
More information2015 MUTUAL FUND DISTRIBUTIONS CALENDAR
2015 MUTUAL FUND DISTRIBUTIONS CALENDAR Columbia Absolute Return Currency and Income Fund 19763P689 Monthly 01/23/15 02/25/15 03/25/15 04/24/15 05/26/15 06/25/15 07/24/15 08/25/15 09/25/15 10/23/15 11/23/15
More informationETFX FUND COMPANY PUBLIC LIMITED COMPANY
The Company and the Directors, whose names appear on page 131 of the Prospectus, are the persons responsible for the information contained in this Fund Supplement and accept responsibility accordingly.
More informationExplore the Field of Mutual Funds
Wealth Management Education Series How can we help you further? Do you have a question on what you have just read? Would you like to have a further discussion on this subject? Contact your Relationship
More informationQ&A for changes to Vanguard s Ireland-domiciled fund range
Q&A for changes to Vanguard s Ireland-domiciled fund range As we broaden our presence in Europe, we are able to enhance our product suite by reducing costs and introducing a new share class structure designed
More informationWEEKLY ASSET ALLOCATION REPORT
WEEKLY ASSET ALLOCATION REPORT January 11, 2016 Stanley Yeung Quantitative Research Analyst Stanley.yeung@TrimTabs.com +1 (415) 324-5873 CONTENTS TACTICAL ASSET ALLOCATION 3 TRIMTABS ASSET ALLOCATION PORTFOLIOS
More informationFamily offices. Aligning investment risk and return objectives
Family offices Aligning investment risk and return objectives Family offices Aligning investment risk and return objectives Background Between July and August of 2012, the Financial Times conducted biannual
More informationSUMMARY PROSPECTUS SDIT Short-Duration Government Fund (TCSGX) Class A
May 31, 2016 SUMMARY PROSPECTUS SDIT Short-Duration Government Fund (TCSGX) Class A Before you invest, you may want to review the Fund s Prospectus, which contains information about the Fund and its risks.
More informationCASE STUDY. Northern Ireland Electricity Pension Scheme. Providing and Implementing a new Investment Strategy WORLDWIDE SECURITIES SERVICES
CASE STUDY Northern Ireland Electricity Pension Scheme Providing and Implementing a new Investment Strategy WORLDWIDE SECURITIES SERVICES NORTHERN IRELAND ELECTRICITY PENSION SCHEME CASE STUDY Company
More informationCustomer Investment Profile
Customer Name: Account Number: Contact Number: The purpose of this investment profile form is for us to better understand your financial means, investment experience, investment objectives and general
More informationSHORT DURATION BONDS
SHORT DURATION BONDS Our Short Duration Bond Fund range RL Short Duration Gilt Fund RL Short Duration Global Index Linked Bond Fund RL Short Duration Credit Fund RL Duration Hedged Credit Fund RL Short
More informationBank Capital Adequacy under Basel III
Bank Capital Adequacy under Basel III Objectives The overall goal of this two-day workshop is to provide participants with an understanding of how capital is regulated under Basel II and III and appreciate
More informationEASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA. October 2015. eastspring.co.id
EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA October 2015 eastspring.co.id 2 Asia Investor Behaviour Study 2015 - Indonesia Asia Investor Behaviour Study 2015 - Indonesia CONTENTS
More informationWhy own bonds when yields are low?
Why own bonds when yields are low? Vanguard research November 213 Executive summary. Given the backdrop of low yields in government bond markets across much of the developed world, many investors may be
More informationSPDR S&P 500 Low Volatility UCITS ETF
SSGA SPDR ETFs Europe I Plc 2 November 2015 SPDR S&P 500 Low Volatility UCITS ETF Supplement No. 32 (A sub-fund of SSGA SPDR ETFs Europe I plc (the Company ) an open-ended investment company constituted
More informationBlueBay Asset Management LLP Environmental, Social and Governance (ESG) Investment Risk Policy
BlueBay Asset Management LLP Environmental, Social and Governance (ESG) Investment Risk Policy INTRODUCTION This policy document outlines BlueBay Asset Management LLP s ( BlueBay ) approach to integrating
More informationDynamic Diversified Growth Fund
Dynamic Diversified Growth Fund with BlackRock Investment Management (UK) Limited Customer Brochure BlackRock is a truly global firm that manages assets for clients in Europe, North and South America,
More informationINVEST. Estimate your risk tolerance. saving : investing : planning
INVEST Estimate your risk tolerance saving : investing : planning Investing made easy Sometimes your financial picture can seem like the jumbled pieces of a jigsaw puzzle. Fortunately, your financial advisor
More informationVANGUARD LOWERS CHARGES ON 25 UK AND IRISH-DOMICILED FUNDS
VANGUARD LOWERS CHARGES ON 25 UK AND IRISH-DOMICILED FUNDS Reduced charges on 16 index mutual funds, 4 exchange traded funds (ETFs) and 5 LifeStrategy Funds 28 August, 2014 Vanguard Asset Management, Limited
More informationAsset Matters: How Goals-Based Allocation Drives Portfolio Positioning
Asset Matters: How Goals-Based Allocation Drives Portfolio Positioning November 16, 2015 by Matthew Rubin of Neuberger Berman When we work with clients to design a customized portfolio, we need to understand
More informationFunds. All-in-one portfolios built using Vanguard s low-cost index funds
Investing The case made for index simple: fund Vanguard investing for LifeStrategy UK investors Funds All-in-one portfolios built using Vanguard s low-cost index funds The value of investments, and the
More informationDe-Risking Solutions: Low and Managed Volatility
De-Risking Solutions: Low and Managed Volatility NCPERS May 17, 2016 Richard Yasenchak, CFA Senior Vice President, Client Portfolio Manager, INTECH FOR INSTITUTIONAL INVESTOR USE C-0416-1610 12-30-16 AGENDA
More informationCGWM Bond Fund. Supplement dated 11 November 2014 to the Prospectus dated 11 November 2014. Investment Objective. Investment Policy.
CGWM Bond Fund To us there are no foreign markets. TM Supplement dated 11 November 2014 to the Prospectus dated 11 November 2014 This Supplement contains specific information in relation to the CGWM Bond
More informationDIVERSIFIED GROWTH FUNDS: DO THEY MEET EXPECTATIONS?
March 2015 DIVERSIFIED GROWTH FUNDS: DO THEY MEET EXPECTATIONS? In this paper, we ask two questions: Do DGFs meet their objectives? Is their performance good enough? What is a Diversified Growth Fund?
More informationMULTI-ASSET STRATEGIES REDEFINING THE UNIVERSE APRIL 2014
MULTI-ASSET STRATEGIES REDEFINING THE UNIVERSE APRIL 2014 INTRODUCTION Loved by many, reviled by others, multi-asset strategies are undeniably a key feature of the investment landscape. In the US they
More informationCapital preservation strategy update
Client Education Summit 2012 Capital preservation strategy update Head of Institutional Fixed Income Investments, Americas October 9, 2012 Topics for discussion 1 Capital preservation strategies 2 3 4
More informationUnconstrained Fixed Income
Unconstrained Fixed Income A Dynamic and Flexible Approach to Fixed Income Investing 26th ANNUAL TEXPERS CONFERENCE Global Fixed Income & Liquidity Management March 2015 This material is provided for educational
More informationCash Management Group Solvency II and Money Market Funds
Cash Management Group Solvency II and Money Market Funds The opinions expressed are as of June 2012 and may change as subsequent conditions vary. Managing cash and short term investments is an essential
More informationBLACKROCK SECURITIES LENDING
FOR PROFESSIONAL clients and qualifed investors ONLY BLACKROCK SECURITIES LENDING UNLOCKING THE POTENTIAL OF PORTFOLIOS JUNE 2015 Introduction Securities lending is a well-established practice where funds
More information