Description
DISCLOSURES
PAGE 6
These insights come from Presidio Capital Advisors LLC, a SEC Registered Investment Advisory firm, is a subsidiary of The Presidio
Group LLC. There are no warranties, expressed or implied as to the accuracy, completeness, or results obtained from any information in this material. This white paper is provided for information purposes only. This document does not constitute an offer to
sell or a solicitation of an offer to purchase securities.
Past performance does not guarantee, and is not necessarily indicative of, future results. Index performance does not reflect the deduction of transaction costs, management fees or other costs, which would reduce returns, thus investing in any money manager is not similar to investing in an index. References to market indexes or other measures of relative market performance over a specified period of time are provided for your information only and do not imply that money managers will achieve similar returns, volatility or other results.
The composition of an index may not reflect the manner in which a money manager’s portfolio is constructed in relation to expected or achieved returns, restrictions, sectors, correlations, concentrations, volatility, or tracking error targets, all of which may change over time. An investor cannot directly invest in an index. All manager returns presented are net of the manager’s management fee.
In addition, performance has been reduced by the amount of the highest fee charged to any Presidio client employing that particular strategy during the period under consideration. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. Actual client allocations may differ from the Recommended Mix and is dependent on the client’s current portfolio holdings, risk level, and investment objective.
Thus actual client returns) may be different. Future relative performance of the Recommended Mix may or may not reflect historical performance. The performance represented herein for international equities is not necessarily representative of the performance of other investments recommended by Presidio.
Presidio provides broad advisory services to our clients but does not exercise discretion in the selection of or relative allocation to managers. Diversification does not assure a profit or guarantee against a loss in declining markets. Presidio’s fees are available upon request and may be found in Part II of Schedule F of the Form ADV.
The MSCI EAFE is the primary benchmark for the composite and is a stock market index of foreign stocks. The index is market-capitalization weighted and includes a selection of stocks from 22 developed markets, but excludes those from the U.S., Canada, and emerging economies. The reported returns reflect a total a total return for each quarter inclusive of dividends. The annual rates of return for Recommended Mix performance for the period 1999 through 2003 and the resulting performance statistics are hypothetical performance.
Hypothetical performance does not represent the profit or loss resulting from actual trades. Rather, this hypothetical performance was generated by applying the weightings of the three managers to the target allocation of 50% for Manager A, 25% for Manager B, 25% for Manager C utilizing the returns as specified in Table 1. Hypothetical performance results have many inherent limitations, some of which are described below.
No representation is made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the results subsequently achieved by any particular trading strategy. One of the limitations of hypothetical performance is that it is generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involved financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading.
For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can adversely affect actual results. There are numerous other factors related to the markets in general or to the implementation of any specific portfolio program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual portfolio results. Timing of investment in-flows, out-flows, fees, and deductions will impact a client’s portfolio. Due to the differences between hypothetical and actual trading results and because management of the strategy described in this white paper, there are significant inherent limitations in the hypothetical performance information presented herein.
Accordingly, customers should be particularly wary of placing any reliance on these results. This material is proprietary and is not allowed to be reproduced, other than for your own personal, noncommercial use, without prior written permission from Presidio. This paper was originally published in 2010 and revised in November 2012. © 2012 All rights reserved. .
Past performance does not guarantee, and is not necessarily indicative of, future results. Index performance does not reflect the deduction of transaction costs, management fees or other costs, which would reduce returns, thus investing in any money manager is not similar to investing in an index. References to market indexes or other measures of relative market performance over a specified period of time are provided for your information only and do not imply that money managers will achieve similar returns, volatility or other results.
The composition of an index may not reflect the manner in which a money manager’s portfolio is constructed in relation to expected or achieved returns, restrictions, sectors, correlations, concentrations, volatility, or tracking error targets, all of which may change over time. An investor cannot directly invest in an index. All manager returns presented are net of the manager’s management fee.
In addition, performance has been reduced by the amount of the highest fee charged to any Presidio client employing that particular strategy during the period under consideration. Actual fees may vary depending on, among other things, the applicable fee schedule and portfolio size. Actual client allocations may differ from the Recommended Mix and is dependent on the client’s current portfolio holdings, risk level, and investment objective.
Thus actual client returns) may be different. Future relative performance of the Recommended Mix may or may not reflect historical performance. The performance represented herein for international equities is not necessarily representative of the performance of other investments recommended by Presidio.
Presidio provides broad advisory services to our clients but does not exercise discretion in the selection of or relative allocation to managers. Diversification does not assure a profit or guarantee against a loss in declining markets. Presidio’s fees are available upon request and may be found in Part II of Schedule F of the Form ADV.
The MSCI EAFE is the primary benchmark for the composite and is a stock market index of foreign stocks. The index is market-capitalization weighted and includes a selection of stocks from 22 developed markets, but excludes those from the U.S., Canada, and emerging economies. The reported returns reflect a total a total return for each quarter inclusive of dividends. The annual rates of return for Recommended Mix performance for the period 1999 through 2003 and the resulting performance statistics are hypothetical performance.
Hypothetical performance does not represent the profit or loss resulting from actual trades. Rather, this hypothetical performance was generated by applying the weightings of the three managers to the target allocation of 50% for Manager A, 25% for Manager B, 25% for Manager C utilizing the returns as specified in Table 1. Hypothetical performance results have many inherent limitations, some of which are described below.
No representation is made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the results subsequently achieved by any particular trading strategy. One of the limitations of hypothetical performance is that it is generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involved financial risk and no hypothetical trading record can completely account for the impact of financial risk in actual trading.
For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points that can adversely affect actual results. There are numerous other factors related to the markets in general or to the implementation of any specific portfolio program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual portfolio results. Timing of investment in-flows, out-flows, fees, and deductions will impact a client’s portfolio. Due to the differences between hypothetical and actual trading results and because management of the strategy described in this white paper, there are significant inherent limitations in the hypothetical performance information presented herein.
Accordingly, customers should be particularly wary of placing any reliance on these results. This material is proprietary and is not allowed to be reproduced, other than for your own personal, noncommercial use, without prior written permission from Presidio. This paper was originally published in 2010 and revised in November 2012. © 2012 All rights reserved. .
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