Description
www.logancapital.com
Logan Capital Management, Inc.
Performance Results: Logan International Dividend ADR Composite
January 1, 2007 through March 31, 2016
Year
YTD 2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
Composite
Dispersion Composite MSCI EAFE Composite 3- Assets in
Total Return Total Return
Number
Firm
UMA
Gross of Fees 3-Yr Std 3-Yr Std Dev Yr Sharpe Composite % of Firm
Net of Fees
Gross of
MSCI
of
Assets
Assets
(%)
(%)
(%)
Fees (%) EAFE (%) Accounts
Ratio(%) ($millions) Assets ($millions)
^*
Dev (%)
0.8%
0.9%
-3.0%
17
0.2%
11.8%
13.4%
0.3%
$20.1
1.5%
$1,383
$ 166
-1.4%
-1.0%
-0.8%
17
0.2%
11.3%
12.5%
0.5%
$18.9
1.4%
$1,398
$ 207
-2.7%
-2.5%
-4.9%
14
0.2%
11.7%
13.0%
1.0%
$17.5
1.0%
$1,816
$ 229
20.1%
20.4%
22.8%
11
0.4%
14.0%
16.3%
0.9%
$14.3
0.7%
$2,061
$ 115
19.3%
19.6%
17.3%
9
0.6%
17.8%
19.4%
0.3%
$10.1
0.5%
$1,932
$
82
-2.1%
-1.8%
-12.1%
10
0.2%
20.4%
22.4%
0.4%
$8.3
0.4%
$1,873
$
21
1.1%
1.4%
7.8%
11
0.2%
24.0%
26.2%
-0.3%
$11.7
0.7%
$1,769
$
13
28.9%
29.3%
31.8%
9
0.5%
21.4%
23.6%
-0.3%
$9.7
0.6%
$1,539
$ -40.0%
-39.8%
-43.4%
11
0.5%
N/A
N/A
N/A
$8.1
0.7%
$1,240
$ 13.8%
13.9%
11.2%
2
0.0%
N/A
N/A
N/A
$9.0
0.5%
$1,658
$ -
Firm +
UMA
Assets
^
$ 1,549
$ 1,605
$ 2,045
$ 2,176
$ 2,014
$ 1,894
$ 1,782
$ 1,539
$ 1,240
$ 1,658
N/A- Data is not available for time period. The 3 year annualized ex-post standard deviations are not presented from 2007-2008 because 36 months of returns are not available.
^*UMA assets as of 2/29/16
^The information shown is supplemental and complements the International Dividend ADR Composite complete disclosures which are located below.
Portfolio
Performance
Quarter-to-Date
Year-to-Date
1 Year
3 Years
5 Years
Since Inception †
Total Return
Total Return
Net of Fees
Gross of Fees
Annualized Returns (as of 3/31/16)
0.8%
0.9%
0.8%
0.9%
-3.6%
-3.2%
3.6%
3.9%
5.2%
5.5%
2.0%
2.3%
MSCI EAFE
Net
-3.0%
-3.0%
-8.3%
2.2%
2.3%
0.4%
†Inception of 12/31/06
Please reference the performance disclosure below.
Logan International Dividend ADR Composite contains fully discretionary large cap international equity accounts, measured against the MSCI EAFE Net benchmark. The
MSCI EAFE Index (Europe, Australasia, Far East) is a free float-adjusted market capitalization index that is designed to measure the equity market performance of developed
markets, excluding the US & Canada. The MSCI Index approximates the minimum possible dividend reinvestment.
The dividend is reinvested after deduction of withholding tax, applying the rate to non-resident individuals who do not benefit from double taxation treaties. MSCI uses withholding tax rates applicable to Luxembourg holding companies, as Luxembourg applies the highest rates. We use FT Interactive Data as our exchange rate source, which reflects the Closing FX Rates from the London Exchange as of 4 p.m.
This benchmark is used for comparative purposes only and generally reflects the risk and investment style of the composite. The strategy invests in 35-45 large and established international, dividend-paying companies that are primarily located in developed countries and have American Depository Receipts (“ADR’s”). Portfolios are diversified across seven to ten sectors and at least ten countries. Up to 15% of the portfolio may be invested in non-EAFE countries.
Turnover is typically under 35% annually. Only accounts paying commission fees are included. There is no minimum account size. Logan Capital Management, Inc.
claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Logan Capital Management, Inc. has been independently verified for the periods April 1, 1994 through September 30, 2015 by Ashland Partners & Company LLP.
A copy of the verification report(s) is/are available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite disclosure presentation. Logan Capital Management, Inc. is a privately owned registered investment adviser.
The firm maintains a complete list and description of composites, which is available upon request. Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Past performance is not indicative of future results. The U.S. Dollar is the currency used to express performance.
Returns are presented gross and net of management fees, net of all withholding tax and includes the reinvestment of all income. Gross of fee returns do not reflect the deduction of investment advisory fees. Gross of fee returns have, however, been reduced by all actual trading expenses.
Net of fee returns are calculated net of actual investment management fees & actual trading expenses. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request. The investment management fee schedule for account over $10 million is as follows: 80 basis points on the first $25 million, 70 basis points on the next $25 million, 50 basis points on the next $25 million and 45 basis points on the $25 million thereafter.
The investment advisory fees charged for accounts whose market value exceeds $100 million are negotiable. Accounts under $10 million will be charged a flat 1.00% per annum. Actual investment advisory fees incurred by clients may vary. The Logan International Dividend ADR Composite was created November 30, 2013.
Prior to September 30, 2014 the Logan International Dividend ADR Composite was known only as the Logan International ADR Composite. It will continue to be known as Logan International ADR Composite in addition to Logan International Dividend ADR Composite. Six Coulter Avenue • Suite 2000 • Suburban Square • Ardmore, PA 19003 • 800.215.1100 • 610.642.7100 fax .
The dividend is reinvested after deduction of withholding tax, applying the rate to non-resident individuals who do not benefit from double taxation treaties. MSCI uses withholding tax rates applicable to Luxembourg holding companies, as Luxembourg applies the highest rates. We use FT Interactive Data as our exchange rate source, which reflects the Closing FX Rates from the London Exchange as of 4 p.m.
This benchmark is used for comparative purposes only and generally reflects the risk and investment style of the composite. The strategy invests in 35-45 large and established international, dividend-paying companies that are primarily located in developed countries and have American Depository Receipts (“ADR’s”). Portfolios are diversified across seven to ten sectors and at least ten countries. Up to 15% of the portfolio may be invested in non-EAFE countries.
Turnover is typically under 35% annually. Only accounts paying commission fees are included. There is no minimum account size. Logan Capital Management, Inc.
claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Logan Capital Management, Inc. has been independently verified for the periods April 1, 1994 through September 30, 2015 by Ashland Partners & Company LLP.
A copy of the verification report(s) is/are available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite disclosure presentation. Logan Capital Management, Inc. is a privately owned registered investment adviser.
The firm maintains a complete list and description of composites, which is available upon request. Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Past performance is not indicative of future results. The U.S. Dollar is the currency used to express performance.
Returns are presented gross and net of management fees, net of all withholding tax and includes the reinvestment of all income. Gross of fee returns do not reflect the deduction of investment advisory fees. Gross of fee returns have, however, been reduced by all actual trading expenses.
Net of fee returns are calculated net of actual investment management fees & actual trading expenses. The annual composite dispersion presented is an asset-weighted standard deviation calculated for the accounts in the composite the entire year. Additional information regarding the policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request. The investment management fee schedule for account over $10 million is as follows: 80 basis points on the first $25 million, 70 basis points on the next $25 million, 50 basis points on the next $25 million and 45 basis points on the $25 million thereafter.
The investment advisory fees charged for accounts whose market value exceeds $100 million are negotiable. Accounts under $10 million will be charged a flat 1.00% per annum. Actual investment advisory fees incurred by clients may vary. The Logan International Dividend ADR Composite was created November 30, 2013.
Prior to September 30, 2014 the Logan International Dividend ADR Composite was known only as the Logan International ADR Composite. It will continue to be known as Logan International ADR Composite in addition to Logan International Dividend ADR Composite. Six Coulter Avenue • Suite 2000 • Suburban Square • Ardmore, PA 19003 • 800.215.1100 • 610.642.7100 fax .
