Explore This Opportunity for Yield and Tax-Free Income. Learn about the Near-Term Tax Free Fund (NEARX), a short-term municipal bond fund from U.S. Global Investors.
Sage Capital Core Convertible Arbitrage FundAlan Chu
The Sage Capital Core Convertible Arbitrage Fund is a $96.2 million convertible arbitrage fund managed by Peter deLisser, Karen Heston, and Michael Ippolito. The fund employs a bottom-up strategy investing in small and mid-cap convertible securities and hedging with short positions in underlying stocks. Since inception in 1999, the fund has generated total returns of 111.16% and annualized returns of 4.56%, outperforming the Barclay Hedge Fund Index. Key risks include market volatility and illiquidity of smaller convertible securities.
This document provides an overview and performance summary of the Sage Capital Core Convertible Arbitrage Fund as of June 2015. Some key details include:
- The fund focuses on convertible arbitrage strategies and primarily invests in small to mid-capitalization convertible securities.
- For the period ending June 2015, the fund has returned 1.00% year-to-date, compared to 3.61% for the Barclay Hedge Fund index.
- The fund has $97.2 million in assets under management and is managed by Peter deLisser, Karen Heston, and Michael Ippolito.
Sage Capital Core Convertible Arbitrage FundAlan Chu
The Sage Capital Core Convertible Arbitrage Fund invests in convertible securities using an arbitrage strategy. For the period ending August 2015, the fund achieved annual returns of 0.65% compared to 0.57% for the Barclay Hedge Fund index. The fund has $91.6 million in assets under management and is managed by Peter deLisser, Karen Heston, and Michael Ippolito using a bottom-up approach focusing on small to mid-capitalization convertible securities.
The document discusses establishing investment goals and developing a personal investment plan. It emphasizes that financial goals should be specific, measurable, and consider possible changes in economic or personal circumstances. It also stresses the importance of performing a financial checkup, paying yourself first, taking advantage of employer programs, and understanding that even small regular investments can grow significantly over the long term.
Unit investment trusts (UITs) are pooled investment vehicles that hold professionally selected stocks, bonds or other securities. UITs offer investors a diversified, buy and hold strategy. Unlike mutual funds, UIT portfolios are static once established, however UITs provide rollover options that allow investors to periodically rebalance and reinvest proceeds from terminated trusts. UITs have grown substantially since the 1970s and now manage over $550 billion in assets, with the majority allocated to equity strategies.
Financial Synergies Q2 2015 Newsletter discusses many aspects of the current market conditions and our Financial Times recognition as one of the top 300 RIAs in the nation.
This document discusses strategies for diversification and controlling risk in investments. It summarizes a typical pension fund asset allocation from JPMorgan that divides investments among equities, fixed income, real estate and alternatives. It then discusses the significant monetary and fiscal stimulus by governments and central banks. Finally, it advocates constructing portfolios with statistically independent risk factors to reduce volatility and enhance returns over market cycles.
Sage Capital Core Convertible Arbitrage FundAlan Chu
The Sage Capital Core Convertible Arbitrage Fund is a $96.2 million convertible arbitrage fund managed by Peter deLisser, Karen Heston, and Michael Ippolito. The fund employs a bottom-up strategy investing in small and mid-cap convertible securities and hedging with short positions in underlying stocks. Since inception in 1999, the fund has generated total returns of 111.16% and annualized returns of 4.56%, outperforming the Barclay Hedge Fund Index. Key risks include market volatility and illiquidity of smaller convertible securities.
This document provides an overview and performance summary of the Sage Capital Core Convertible Arbitrage Fund as of June 2015. Some key details include:
- The fund focuses on convertible arbitrage strategies and primarily invests in small to mid-capitalization convertible securities.
- For the period ending June 2015, the fund has returned 1.00% year-to-date, compared to 3.61% for the Barclay Hedge Fund index.
- The fund has $97.2 million in assets under management and is managed by Peter deLisser, Karen Heston, and Michael Ippolito.
Sage Capital Core Convertible Arbitrage FundAlan Chu
The Sage Capital Core Convertible Arbitrage Fund invests in convertible securities using an arbitrage strategy. For the period ending August 2015, the fund achieved annual returns of 0.65% compared to 0.57% for the Barclay Hedge Fund index. The fund has $91.6 million in assets under management and is managed by Peter deLisser, Karen Heston, and Michael Ippolito using a bottom-up approach focusing on small to mid-capitalization convertible securities.
The document discusses establishing investment goals and developing a personal investment plan. It emphasizes that financial goals should be specific, measurable, and consider possible changes in economic or personal circumstances. It also stresses the importance of performing a financial checkup, paying yourself first, taking advantage of employer programs, and understanding that even small regular investments can grow significantly over the long term.
Unit investment trusts (UITs) are pooled investment vehicles that hold professionally selected stocks, bonds or other securities. UITs offer investors a diversified, buy and hold strategy. Unlike mutual funds, UIT portfolios are static once established, however UITs provide rollover options that allow investors to periodically rebalance and reinvest proceeds from terminated trusts. UITs have grown substantially since the 1970s and now manage over $550 billion in assets, with the majority allocated to equity strategies.
Financial Synergies Q2 2015 Newsletter discusses many aspects of the current market conditions and our Financial Times recognition as one of the top 300 RIAs in the nation.
This document discusses strategies for diversification and controlling risk in investments. It summarizes a typical pension fund asset allocation from JPMorgan that divides investments among equities, fixed income, real estate and alternatives. It then discusses the significant monetary and fiscal stimulus by governments and central banks. Finally, it advocates constructing portfolios with statistically independent risk factors to reduce volatility and enhance returns over market cycles.
How To Avoid Losing Money In The Stock MarketInvestingTips
How To Avoid Losing Money In The Stock Market
http://www.profitableinvestingtips.com/stock-investing/how-to-avoid-losing-money-in-the-stock-market
A common expression years ago, was playing the stock market. The expression came from the fact that many thought of stock investing as gambling on whether stocks would go up or down. Traders listened for stock tips with fond hopes of getting into a stock before it ran up in price and out of a stock before it went bust. After the stock market crash that ushered in the Great Depression, Benjamin Graham taught how to avoid losing money in the stock market by learning to calculate the intrinsic value of a given stock. What is intrinsic stock value? The intrinsic value of a stock is generally referred to as the forward looking value of the stock discounted to present circumstances. Mr. Graham devised a formula so that investors could make a rational decision about whether or not to buy or sell a stock. How to avoid losing money in the stock market is to use tools like the Graham intrinsic value formula and your own good common sense when investing in stocks.
Intrinsic Stock Value
Here is a thumbnail view of the Graham formula for calculating intrinsic stock value in 1962 and modified in 1974. The 1974 version considers the following:
• Earnings per share, EPS, for the preceding twelve months
• A constant of 8.5 representing an expected price to earnings ratio, P/E ratio, for a company that is not growing
• An estimate of long term growth, five years = g
• A constant of 4.4 which was the average yield of high grade corporate bonds in the early 1960 decade
• The current yield of AAA corporate bonds = Y
• Where V = intrinsic value
The formula is as follows:
V = (EPS x (8.5 + 2g) x 4.4)/Y
The point of this formula is to calculate the RGV or Relative Graham Value. Do the calculation to find V. Then divide V by the current stock price. This gives you the RGV.
This document summarizes the performance of various markets and asset classes in 2006 and provides lessons and recommendations for investors based on that performance. Specifically:
1) Global stock markets performed strongly in 2006, with Latin American, Asian and European markets significantly outperforming domestic Canadian markets.
2) Investors should be wary of becoming overly concentrated in high performing sectors, as these can be volatile. Precious metals funds performed very well but also experienced large declines.
3) Canadian investors are overly concentrated in domestic markets and would benefit from increasing foreign exposure over time to improve diversification.
4) Income trusts were popular for their high yields but involved more risk than some investors realized. The announcement of future taxation removed
The document provides information about CollegeAmerica, a 529 college savings plan sponsored by the Virginia College Savings Plan. It discusses the flexibility, tax advantages and oversight of 529 plans. It also summarizes the investment options available through CollegeAmerica, including different portfolio foundations and individual American Funds, and how to build a customized portfolio.
This document provides an overview and summary of the Investec Global Franchise Fund. It discusses the fund's objective of investing in quality, global companies with strong business models and management. It notes some of the fund's key attributes like its current fund size, launch date, geographic and sector allocations, and track record of outperforming benchmarks with lower volatility.
The document discusses American Funds and its New Perspective Fund, a global equity fund. It highlights the fund's long history of global research and investing in companies around the world since 1973. It also notes the fund's strong long-term performance compared to other global markets and indexes over the past several decades through various economic cycles.
This document provides an overview of a large investment team and their views on key investment themes and the South African economic landscape. It summarizes their outlook on topics such as global and local economic growth, inflation, monetary and fiscal policy, the current account balance, and bond and currency markets. It also reviews the interest rate outlook and strategies for the income fund. In addition, it discusses the structure of the investment team and retail funds, as well as trends in the sovereign credit rating and bond ownership.
Stifel is a premier financial services firm providing diverse services to individuals, public and private businesses, and institutions. It has a strong balance sheet with $2.5 billion in shareholders' equity and a low leverage ratio. Stifel offers global wealth management with $193 billion in client assets under management. It is also a leading investment bank for middle-market companies, having advised on over $369 billion in deals.
Stifel is a premier financial services firm providing diverse services to individuals, public and private businesses, and institutions. It has a strong balance sheet with $2.5 billion in shareholders' equity and a low leverage ratio. Stifel offers global wealth management with $193 billion in client assets under management. It is also a leading investment bank for middle-market companies, having advised on over $369 billion in deals.
Asset Allocation in Taxable PortfoliosWindham Labs
On Tuesday, September 26th, we hosted Lucas Turton for a discussion on Asset Allocation in Taxable Portfolios. Lucas explored how to estimate the future value of a portfolio by considering assets on an after-tax basis, asset allocation and location for optimal tax efficiency, and best practices for tax loss harvesting and navigating the wash sale rule.
This article highlights 15 top-performing mutual funds over the past 5 years. It begins by discussing the difficult market environment for funds since 2005, with the average annual return just 2% compared to inflation. However, some funds delivered much better returns. The top-performing fund highlighted is the Yacktman fund, which returned 40% over 5 years compared to just 4,000% for a market index fund. The article then examines the BlackRock Global Allocation fund in more detail as the top global fund. It achieved an average annual return of 7.7% over 15 years by taking advantage of market downturns to buy stocks and bonds at lower prices. The fund aims to limit risk by diversifying across
On 1/26/2017, we hosted a webinar featuring Richard Lindsey, Managing Partner and Head of Liquid Alternative Strategies at Windham Capital Management. Rich discussed how to model portfolio returns, risk premia, and how to decompose portfolio risk.
Asset Allocation for Specific Client GoalsWindham Labs
On Wednesday, January 24th, we heard from Senior Client Consultant Jon Kazarian on how to tailor a portfolio to meet the specific investment goals of a client.
On Thursday, April 27th, 2017, we heard from Windham's own client consultant, Jon Kazarian about best methods and practices for the portfolio construction and evaluation process.
The document discusses how investors should allocate to different credit asset classes in the current market environment. It notes that different credit sub-asset classes perform better in different market cycles, with some benefiting from growth periods while others protect capital during downturns. Recently, high yield bonds have seen strong returns but spreads are now close to fair value, so a more dynamic approach across credit quality and regions may be better. Carefully selected absolute return, credit relative value, and multi-class credit strategies could add value going forward.
Amwal Capital Partners for Sohn Invesment ConferenceRanim Diab
This document discusses a potential merger arbitrage opportunity in the Middle East and North Africa (MENA) region involving the merger of two banks - Kuwait Finance House (KFH) and Ahli United Bank (AUB). Some key points:
- KFH and AUB, one of the largest Islamic banks in MENA and a regional bank based in Bahrain, respectively, have agreed to a merger. KFH shareholders will own around 65% of the combined entity.
- The merger aims to increase AUB's presence in Kuwait, where a third of its assets are, and achieve geographical complementarity. It also allows the shareholders, which include sovereign wealth funds, to improve their return on equity targets
This document provides a selection of top mutual funds for 2018 based on certain criteria. It discusses 15 mutual fund picks across various categories like large cap US stocks, international stocks, specialty/sector funds, and fixed income. For each pick, it provides details on investment objective, expense ratio, minimum investment, and performance metrics for various time periods. The funds highlighted are among the most popular choices for investors based on assets under management and have demonstrated above-average returns in their respective segments.
Is Your Property Allocation RIght for You?Redington
The document discusses the impact of Brexit on the UK property market and different property investment options. It notes that commercial rental markets are expected to weaken due to uncertainty after Brexit. It then discusses suspensions of redemptions in some UK property funds and notes that institutional money funds have experienced less redemption pressure. Finally, it outlines different property investment strategies and their risk-return profiles that may be suitable depending on whether a pension fund is in the opening, middle, or end stage of its funding journey.
Lebanon Opportunities - May 2016 - BLC Income Fund IMazen Nasser
A number of domestic and international mutual funds are discussed. Domestically, BOB LBP Growth Fund Class A achieved the highest return in 2015 at 8.61%. Internationally, FFA International Growth Equity Fund achieved the highest 2015 return of 2.34%. Over the lifetime of the funds, FFA International Bond Fund achieved the highest average annual return of 7.38% internationally, while BLC Bank Income Fund I achieved the highest domestic lifetime average return of 5.36%. The article provides details on the investment strategies and performance of these and other mutual funds.
This document provides information about World Financial Group (WFG), including who they are, their mission and vision, strategic alliances, products offered, how to build income through WFG, and options to become a client or business owner. Key details include:
- WFG is a financial services company made up of an insurance agency and mutual fund dealer that offers products like mutual funds, insurance, and retirement plans.
- Their mission is to help families achieve financial independence and their vision is to build the world's best financial services organization.
- Associates can build income by helping families and receiving commissions, with examples showing potential monthly earnings ranging from $2,520 to $15,480.
- Options
2017-02-23 Are Bonds Safe? What Your Board Needs to Know about Interest Rate ...Raffa Learning Community
• How do interest rates effect bond prices?
• What is the likely future direction of interest rates and the resulting impact on bond prices?
• How do you know if your bonds are safe?
• Is owning bonds through bond mutual funds less safe?
• How to use investment policy to manage bond safety?
• Performance reporting and policy compliance – particularly related to bonds
How To Avoid Losing Money In The Stock MarketInvestingTips
How To Avoid Losing Money In The Stock Market
http://www.profitableinvestingtips.com/stock-investing/how-to-avoid-losing-money-in-the-stock-market
A common expression years ago, was playing the stock market. The expression came from the fact that many thought of stock investing as gambling on whether stocks would go up or down. Traders listened for stock tips with fond hopes of getting into a stock before it ran up in price and out of a stock before it went bust. After the stock market crash that ushered in the Great Depression, Benjamin Graham taught how to avoid losing money in the stock market by learning to calculate the intrinsic value of a given stock. What is intrinsic stock value? The intrinsic value of a stock is generally referred to as the forward looking value of the stock discounted to present circumstances. Mr. Graham devised a formula so that investors could make a rational decision about whether or not to buy or sell a stock. How to avoid losing money in the stock market is to use tools like the Graham intrinsic value formula and your own good common sense when investing in stocks.
Intrinsic Stock Value
Here is a thumbnail view of the Graham formula for calculating intrinsic stock value in 1962 and modified in 1974. The 1974 version considers the following:
• Earnings per share, EPS, for the preceding twelve months
• A constant of 8.5 representing an expected price to earnings ratio, P/E ratio, for a company that is not growing
• An estimate of long term growth, five years = g
• A constant of 4.4 which was the average yield of high grade corporate bonds in the early 1960 decade
• The current yield of AAA corporate bonds = Y
• Where V = intrinsic value
The formula is as follows:
V = (EPS x (8.5 + 2g) x 4.4)/Y
The point of this formula is to calculate the RGV or Relative Graham Value. Do the calculation to find V. Then divide V by the current stock price. This gives you the RGV.
This document summarizes the performance of various markets and asset classes in 2006 and provides lessons and recommendations for investors based on that performance. Specifically:
1) Global stock markets performed strongly in 2006, with Latin American, Asian and European markets significantly outperforming domestic Canadian markets.
2) Investors should be wary of becoming overly concentrated in high performing sectors, as these can be volatile. Precious metals funds performed very well but also experienced large declines.
3) Canadian investors are overly concentrated in domestic markets and would benefit from increasing foreign exposure over time to improve diversification.
4) Income trusts were popular for their high yields but involved more risk than some investors realized. The announcement of future taxation removed
The document provides information about CollegeAmerica, a 529 college savings plan sponsored by the Virginia College Savings Plan. It discusses the flexibility, tax advantages and oversight of 529 plans. It also summarizes the investment options available through CollegeAmerica, including different portfolio foundations and individual American Funds, and how to build a customized portfolio.
This document provides an overview and summary of the Investec Global Franchise Fund. It discusses the fund's objective of investing in quality, global companies with strong business models and management. It notes some of the fund's key attributes like its current fund size, launch date, geographic and sector allocations, and track record of outperforming benchmarks with lower volatility.
The document discusses American Funds and its New Perspective Fund, a global equity fund. It highlights the fund's long history of global research and investing in companies around the world since 1973. It also notes the fund's strong long-term performance compared to other global markets and indexes over the past several decades through various economic cycles.
This document provides an overview of a large investment team and their views on key investment themes and the South African economic landscape. It summarizes their outlook on topics such as global and local economic growth, inflation, monetary and fiscal policy, the current account balance, and bond and currency markets. It also reviews the interest rate outlook and strategies for the income fund. In addition, it discusses the structure of the investment team and retail funds, as well as trends in the sovereign credit rating and bond ownership.
Stifel is a premier financial services firm providing diverse services to individuals, public and private businesses, and institutions. It has a strong balance sheet with $2.5 billion in shareholders' equity and a low leverage ratio. Stifel offers global wealth management with $193 billion in client assets under management. It is also a leading investment bank for middle-market companies, having advised on over $369 billion in deals.
Stifel is a premier financial services firm providing diverse services to individuals, public and private businesses, and institutions. It has a strong balance sheet with $2.5 billion in shareholders' equity and a low leverage ratio. Stifel offers global wealth management with $193 billion in client assets under management. It is also a leading investment bank for middle-market companies, having advised on over $369 billion in deals.
Asset Allocation in Taxable PortfoliosWindham Labs
On Tuesday, September 26th, we hosted Lucas Turton for a discussion on Asset Allocation in Taxable Portfolios. Lucas explored how to estimate the future value of a portfolio by considering assets on an after-tax basis, asset allocation and location for optimal tax efficiency, and best practices for tax loss harvesting and navigating the wash sale rule.
This article highlights 15 top-performing mutual funds over the past 5 years. It begins by discussing the difficult market environment for funds since 2005, with the average annual return just 2% compared to inflation. However, some funds delivered much better returns. The top-performing fund highlighted is the Yacktman fund, which returned 40% over 5 years compared to just 4,000% for a market index fund. The article then examines the BlackRock Global Allocation fund in more detail as the top global fund. It achieved an average annual return of 7.7% over 15 years by taking advantage of market downturns to buy stocks and bonds at lower prices. The fund aims to limit risk by diversifying across
On 1/26/2017, we hosted a webinar featuring Richard Lindsey, Managing Partner and Head of Liquid Alternative Strategies at Windham Capital Management. Rich discussed how to model portfolio returns, risk premia, and how to decompose portfolio risk.
Asset Allocation for Specific Client GoalsWindham Labs
On Wednesday, January 24th, we heard from Senior Client Consultant Jon Kazarian on how to tailor a portfolio to meet the specific investment goals of a client.
On Thursday, April 27th, 2017, we heard from Windham's own client consultant, Jon Kazarian about best methods and practices for the portfolio construction and evaluation process.
The document discusses how investors should allocate to different credit asset classes in the current market environment. It notes that different credit sub-asset classes perform better in different market cycles, with some benefiting from growth periods while others protect capital during downturns. Recently, high yield bonds have seen strong returns but spreads are now close to fair value, so a more dynamic approach across credit quality and regions may be better. Carefully selected absolute return, credit relative value, and multi-class credit strategies could add value going forward.
Amwal Capital Partners for Sohn Invesment ConferenceRanim Diab
This document discusses a potential merger arbitrage opportunity in the Middle East and North Africa (MENA) region involving the merger of two banks - Kuwait Finance House (KFH) and Ahli United Bank (AUB). Some key points:
- KFH and AUB, one of the largest Islamic banks in MENA and a regional bank based in Bahrain, respectively, have agreed to a merger. KFH shareholders will own around 65% of the combined entity.
- The merger aims to increase AUB's presence in Kuwait, where a third of its assets are, and achieve geographical complementarity. It also allows the shareholders, which include sovereign wealth funds, to improve their return on equity targets
This document provides a selection of top mutual funds for 2018 based on certain criteria. It discusses 15 mutual fund picks across various categories like large cap US stocks, international stocks, specialty/sector funds, and fixed income. For each pick, it provides details on investment objective, expense ratio, minimum investment, and performance metrics for various time periods. The funds highlighted are among the most popular choices for investors based on assets under management and have demonstrated above-average returns in their respective segments.
Is Your Property Allocation RIght for You?Redington
The document discusses the impact of Brexit on the UK property market and different property investment options. It notes that commercial rental markets are expected to weaken due to uncertainty after Brexit. It then discusses suspensions of redemptions in some UK property funds and notes that institutional money funds have experienced less redemption pressure. Finally, it outlines different property investment strategies and their risk-return profiles that may be suitable depending on whether a pension fund is in the opening, middle, or end stage of its funding journey.
Lebanon Opportunities - May 2016 - BLC Income Fund IMazen Nasser
A number of domestic and international mutual funds are discussed. Domestically, BOB LBP Growth Fund Class A achieved the highest return in 2015 at 8.61%. Internationally, FFA International Growth Equity Fund achieved the highest 2015 return of 2.34%. Over the lifetime of the funds, FFA International Bond Fund achieved the highest average annual return of 7.38% internationally, while BLC Bank Income Fund I achieved the highest domestic lifetime average return of 5.36%. The article provides details on the investment strategies and performance of these and other mutual funds.
This document provides information about World Financial Group (WFG), including who they are, their mission and vision, strategic alliances, products offered, how to build income through WFG, and options to become a client or business owner. Key details include:
- WFG is a financial services company made up of an insurance agency and mutual fund dealer that offers products like mutual funds, insurance, and retirement plans.
- Their mission is to help families achieve financial independence and their vision is to build the world's best financial services organization.
- Associates can build income by helping families and receiving commissions, with examples showing potential monthly earnings ranging from $2,520 to $15,480.
- Options
2017-02-23 Are Bonds Safe? What Your Board Needs to Know about Interest Rate ...Raffa Learning Community
• How do interest rates effect bond prices?
• What is the likely future direction of interest rates and the resulting impact on bond prices?
• How do you know if your bonds are safe?
• Is owning bonds through bond mutual funds less safe?
• How to use investment policy to manage bond safety?
• Performance reporting and policy compliance – particularly related to bonds
This document provides an overview of stocks and bonds for beginner investors. It defines what stocks and bonds are, describes different types of each, and highlights key factors to consider like risks, returns, and how to research companies. For stocks, it covers common and preferred shares, dividends, and growth vs. value investing. For bonds, it defines various types and bond yields. It aims to educate readers on the basics of picking stocks and bonds as well as the risks involved.
2016-10-27 A Framework for Strengthening Your Nonprofits Investment Reserve P...Raffa Learning Community
This document summarizes the results of a survey of 722 nonprofit finance executives about their organization's investment policies and results. It finds that nonprofit investment policies often do not fully align with strategic plans or asset allocation strategies. Additionally, many nonprofits do not have clear expectations around investment performance benchmarks and risk tolerances. The document recommends that nonprofits review their policies to ensure goals, governance, reporting, policy components, and key considerations are addressed when evaluating investment strategies.
Nonprofit Executives and their boards often wonder if their investment policies are lacking. Through his work on the Study on Nonprofit Investing (SONI), Dennis Gogarty of Raffa Wealth Management has developed an easy-to-follow investment policy framework which will assist nonprofits in developing or strengthening their organization’s policy and procedures.
The document summarizes best practices for retirement oversight committees. It discusses committee makeup, importance of investment policies, asset/liability management, manager selection, cost monitoring, and future trends like the growth of defined contribution plans and challenges providing guaranteed income. Sample investment policy guidelines and peer group investment returns are also presented.
2017-01-25 A Framework for Strengthening Your Nonprofit’s Investment Reserve ...Raffa Learning Community
Nonprofit Executives and their Boards know they must periodically review reserve or investment policies. They don’t always know, however, what’s involved. Through his work on the Study on Nonprofit Investing (SONI), Dennis Gogarty of Raffa Wealth Management has developed an easy-to-follow investment policy framework which will assist nonprofits in developing or strengthening their organization’s policy and procedures.
Wealth advisors LLC pursues a better investment experience for its clients by embracing principles of prudent diversification and avoiding behaviors that often undermine returns, such as market timing, chasing past performance, and overreacting to short-term market movements. The firm recommends low-cost, globally diversified portfolios and advises clients to focus on what they can control - their investment plan, taxes, and expenses - rather than trying to outguess unpredictable markets. By following these disciplined strategies, the firm aims to help clients achieve superior long-term returns.
What are the key elements of a diversified portfolio? How can you assess your risk profile and build an investment mix around it? How will you account for taxable versus non-taxable investments, and how can you minimize the taxes you'll have to pay on your investing? All of that, and more, in Wealthfront's "Invest Well" slide deck.
What Went Wrong at Woodford - A Forensic AnalysisStockopedia
The document provides an analysis of Neil Woodford's Equity Income Fund from its inception in 2014 until its closure in 2019. It outlines an agenda to discuss the fund's history, performance analysis based on holdings from 2014-2019, charts of key metrics over time, lessons for investors, and how to analyze one's own portfolio to avoid similar mistakes. The analysis of the initial 2014 portfolio shows that Woodford initially invested conservatively in generally higher quality, value stocks, with a focus on large cap healthcare names. However, he noted plans to also invest a small portion in early-stage, undervalued quoted and unquoted businesses.
What is EQUITYMULTIPLE? This presentation touches on what we are, why we are, and how we are different from other real estate "crowdfunding" platforms. For more info, please visit www.equitymultiple.com and/or contact info@equitymultiple.com
This document provides an overview of World Financial Group (WFG), including their goals, business model, and solutions. Some key points:
- WFG aims to help individuals and families achieve financial security and create a legacy through education and solutions like insurance, annuities, and retirement planning.
- Their business model involves associates conducting a financial needs analysis and presenting customized recommendations to help clients meet their goals.
- They believe many middle-income families lack proper protection or savings strategies and would benefit from guidance on concepts like managing risk and taxes effectively.
- WFG offers solutions like term life insurance, universal life insurance, fixed annuities, and IRAs to help clients save, protect assets,
WFG provides an overview of their company beliefs and business model. They believe there is a need for financial education and guidance for middle-income individuals. WFG's business platform rewards both personal production and leadership development. Associates can earn income through personal sales, overrides on sales by those they recruit, and promotions. The presentation provides examples of earning potential at different levels. WFG emphasizes core values like integrity, family, and positivity. It encourages attendees to consider if the business could benefit them financially and if they are intrigued by the opportunity.
This document provides an overview of the investment products and services available through Morgan Stanley Wealth Management's Capital Markets division. It describes the team of over 200 professionals that work with individual investors to navigate complex financial markets. The summary includes access to fixed income securities, equities, structured investments, physical precious metals, foreign exchange, and portfolio reviews to help meet investment objectives.
The document provides an overview of factors to consider when selecting investments for a 401(k) retirement plan. It discusses the primary asset classes of cash and cash equivalents, fixed income securities, and equities. It also describes mutual funds and the various types, including money market funds, bond funds, and equity funds. When selecting investments, the document advises considering one's risk tolerance, investment objectives, time horizon, and asset allocation. Overall asset allocation and diversification across asset classes are emphasized as important strategies for balancing risk and return.
20170421 Gator Financial Industry PresentationDerek Pilecki
The document provides an overview and analysis of opportunities in the financial sector following changes in Washington. It summarizes recent performance of financial stocks, ways the sector could benefit from tax cuts, deregulation, higher interest rates, and economic growth. It then discusses attractive sub-sectors and provides details on potential long investments in financial guaranty firms, consumer finance, bank warrants, and alternative asset managers.
The document provides an overview of World Financial Group (WFG), a financial services company that helps people create success through a business opportunity providing financial products and services. WFG believes in helping middle-income individuals and families achieve financial security and independence through education, proper protection, debt management, and wealth building strategies. The presentation outlines WFG's business platform, compensation structure, and values to introduce potential associates to the opportunity of joining WFG either part-time or full-time.
This document provides an overview of World Financial Group (WFG), including their goals, business model, and solutions. Some key points:
- WFG aims to help people better manage their money through financial education and creating generations of financially secure families.
- Their business model focuses on the underserved middle market through a proven platform and coaching associates to build strong businesses.
- They conduct a needs analysis to help clients establish goals and strategies using solutions like term life insurance, annuities, and retirement/college savings plans.
This document summarizes investment solutions provided by Raymond James (USA) Ltd. for Americans living in Canada and Canadians living in the U.S. Specifically:
- Raymond James has created Raymond James (USA) Ltd. to provide specialized cross-border financial advice and services for Americans in Canada regarding their investment needs.
- Services include customized investment portfolios, asset allocation, risk management, access to research teams in both countries, and assistance dealing with cross-border tax and legal issues.
- Clients have the ability to hold both Canadian and U.S. investments in either U.S. or Canadian dollars to avoid currency conversion costs through their accounts at Raymond James (USA) Ltd.
Similar to Explore This Opportunity for Yield and Tax-Free Income (20)
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
Solution Manual For Financial Accounting, 8th Canadian Edition 2024, by Libby...Donc Test
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Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Explore This Opportunity for Yield and Tax-Free Income
1. Explore This Opportunity for Yield and Tax-Free Income
Near-Term Tax Free Fund (NEARX)
1.800.US.FUNDS
USFUNDS.COM
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Corporate Overview
• Boutique investment management firm specializing in actively managed equity
and bond strategies.
• Longstanding history as experts in gold and precious metals, natural resources and
emerging markets.
• Originally founded as an investment club in the 1960s. The company became a
registered investment adviser in 1968, went on to launch the nation’s first
no-load gold mutual fund in 1974 and has continued to launch innovative products.
• Publicly traded company, listed on Nasdaq under the symbol GROW, based in
San Antonio.
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Seeking Opportunities to Earn More
in a Low Interest Rate World
3
• Interest rates remain at historic lows.
• Rates are expected to remain low
this year.
• Your money could benefit from higher
yields with low volatility.
• When rates do begin to rise, shorter-
term bond funds offer more protection
than longer-term bond funds.
Note: Compilation of three-month rates from more than 20 countries
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The NEARX Solution
4
• The Near-Term Tax Free Fund (NEARX) seeks
to provide tax-free monthly income and
preservation of capital by investing in debt
securities issued by state and local
governments from across the country.
• The fund invests in a diversified portfolio of
high quality municipal bonds with relatively
short maturities.
• The fund will maintain a weighted-average
maturity of five years or less.
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Highly Rated
5
Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class, as of 9/30/2015.
Preservation ratings are relative, rather than absolute, measures, and funds named Lipper Leaders for Preservation may still experience losses
periodically; those losses may be larger for equity and mixed equity funds than for fixed income funds. Past performance does not guarantee
future results.
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Strategy and Tactics
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• Seek pricing anomalies in the market in an attempt to identify state- or sector-
specific opportunities
• Participate in deal flow through our network of boutique brokerage firms
• Look for relative value among municipalities and locate bonds that are anticipated
to provide good risk-adjusted returns over the life of the bond
• Maintain low turnover and take advantage of incremental yield benefits
uncovered during the due diligence process
• Manage the fund’s cash position to allow it to capture value when market volatility
presents opportunities
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Strategy and Tactics: Credit Quality
is Important
12
The Near-Term Tax Free Fund invests
at least 80 percent of its net assets in
investment grade municipal securities.
At the time of purchase for the fund’s
portfolio, the ratings on the bonds must
be one of the four highest ratings by
Moody’s Investors Service or Standard
& Poor’s Corporation (or, if not rated,
determined to be of comparable quality).
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20 Years of Positive Annual Total Returns
14
The Near-Term Tax Free Fund
has generated consistent
positive annual total returns
(yield + appreciation) for
investors for 20 years in a row.
Past performance does not guarantee future
results. See complete fund performance
information on performance page.
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NEARX Seeks to Minimize
Daily Share Price Penny Volatility
17
• Our Near-Term Tax Free Fund
seeks preservation of capital and
has demonstrated minimal fluctuation
in its share price
• Net asset value (NAV) has floated
in the $2 range
• For their cash or short-term
investments, many investors
appreciate minimal movement
in the daily share price
Past performance does not guarantee future results.
See complete fund performance information on performance page.
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An Attractive Alternative to CDs
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With interest rates at 50-year lows,
many investors need alternatives to
bank CDs.
NEARX yields as of 09/30/15. CD rates from FDIC.gov
national average as of 10/19/15. NEARX SEC yield without
waiver and reimbursement 0.13%. See additional important
information on performance pages.
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Portfolio Management Team
Frank Holmes
CEO and Chief Investment Officer
• Purchased a controlling interest
in U.S. Global Investors in 1989
• 30+ years of industry experience
• Bachelor of Science in Economics,
University of Western Ontario
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Ralph Aldis
Portfolio Manager
• Rejoined U.S. Global Investors in 2001
• 26 years industry experience
• MS Energy and Mineral Resources,
University of Texas at Austin, and BS
Geology, Stephen F. Austin University;
CFA Charterholder
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Contact Us
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It’s easy to begin investing directly with U.S. Global Investors.
You can apply online, print an application and mail to us, or request
that an investment kit be sent to you.
First, please be sure to review our prospectus.
For more information, please contact us:
Financial Advisors
1-800-873-3639
advisor@usfunds.com
Individual Investors
1-800-386-3847
info@usfunds.com
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Performance and Results Oriented
Investment leadership results in performance
Winner of 29 Lipper performance awards,
certificates and top rankings since 2000
(4 of the U.S. Global Investors Funds received Lipper performance awards from 2005 to 2008. 6 of the U.S. Global Investors Funds
received certificates from 2000 to 2007, and 2 of the U.S. Global Investors Funds received top rankings from 2009 to 2010. During
the years mentioned, there were 13 U.S. Global Investors Funds, while currently the fund family consists of 9 funds.
See disclosure page for additional information.)
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Disclosures
Please consider carefully the fund’s investment objectives, risks, charges and expenses. For this and other
important information, obtain a fund prospectus by visiting www.usfunds.com or by calling 1-800-US-FUNDS
(1-800-873-8637). Read it carefully before investing. Foreside Fund Services, LLC, Distributor. U.S. Global
Investors is the investment adviser.
Unlike bank savings accounts, an investment in a municipal bond fund is neither insured nor guaranteed
by the Federal Deposit Insurance Corporation or any other government agency.
Though the Near-Term Tax Free Fund seeks minimal fluctuations in share price, it is subject to the risk that the credit quality of a
portfolio holding could decline, as well as risk related to changes in the economic conditions of a state, region or issuer. These risks
could cause the fund’s share price to decline. Tax-exempt income is federal income tax free. A portion of this income may be subject to
state and local taxes and at times the alternative minimum tax. The Near-Term Tax Free Fund may invest up to 20% of its assets in
securities that pay taxable interest. Income or fund distributions attributable to capital gains are usually subject to both state and federal
income taxes. Bond funds are subject to interest-rate risk; their value declines as interest rates rise.
The Near-Term Tax Free Fund invests at least 80 percent of its net assets in investment-grade municipal securities. At the time of
purchase for the fund’s portfolio, the ratings on the bonds must be one of the four highest ratings by Moody’s Investors Service or
Standard & Poor’s Corporation (or, if not rated, determined to be of comparable quality). A bond’s credit quality is determined by private
independent rating agencies such as Standard & Poor’s, Moody’s and Fitch. Credit quality designations range from high (AAA to AA) to
medium (A to BBB) to low (BB, B, CCC, CC to C). A bond’s credit quality is determined by private independent rating agencies such as
Standard & Poor’s, Moody’s and Fitch. Credit quality designations range from high (AAA to AA) to medium (A to BBB) to low (BB, B,
CCC, CC to C).
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Disclosures
Morningstar Ratings are based on risk-adjusted return. The Morningstar Rating for a fund is derived from a weighted-average of the
performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance does not
guarantee future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a
Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales
charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top
10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2
stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately,
which may cause slight variations in the distribution percentages.)
Lipper Fund Awards are earned for a fund’s consistent performance over one or more time periods, based on Lipper’s Consistent
Return score. Consistent Return is a quantitative metric that incorporates two characteristics: risk-adjusted return, and the strength of
the fund's performance trend. The top-scoring Consistent Return fund within each classification receives the awards. Lipper's
Performance Achievement Certificates are awarded to funds with returns that topped their Lipper category over one or more time
periods. Lipper top rankings are achieved based on funds with returns that topped their Lipper category over one or more time periods.
Past performance does not guarantee future results.
Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not
guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee, or representation made by
Lipper. Any use of the data for analyzing, managing, or trading financial instruments is at the user's own risk. This is not an offer to buy
or sell securities.
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Disclosures
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The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Preservation
metric over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a
score of 5, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1.
The Near-Term Tax Free Fund, in Lipper’s Short-Intermediate Municipal Debt Funds classification, received the following ratings for the 3-,
5-, and 10-year periods, respectively. Preservation (in Fixed Income asset class): 5 (5,313 funds), 5 (4,445 funds), and 5 (2,952 funds).
Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is
available at www.lipperweb.com. Lipper Leader Copyright 2015, Reuters, All Rights Reserved.
It’s important to consider the differences between the two investment products before investing.
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Disclosures
The CD interest rate is typically a fixed rate of interest, and payable on a set maturity date. The 30-day yield is used for bond funds,
balanced funds, and stock funds. It consists of the interest income the fund pays over a 30-day period, net of expenses, expressed as
an annualized percentage of the fund’s share price. Tax Equivalent Yield is the before-tax yield you would have to get from a higher-
paying but taxable investment to equal the yield from a tax-exempt investment and was computed assuming a 43.4% tax rate.
The S&P 500 Stock Index is a widely recognized capitalization-weighted index of 500 common stock prices in U.S. companies. The
Nasdaq Composite Index is a capitalization-weighted index of all Nasdaq National Market and SmallCap stocks. The Russell 2000
Index is a U.S. equity index measuring the performance of the 2,000 smallest companies in the Russell 3000. The Russell 3000 Index
consists of the 3,000 largest U.S. companies as determined by total market capitalization. The Dow Jones Industrial Average is a
price-weighted average of 30 blue chip stocks that are generally leaders in their industry.
Standard deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the
deviation. Standard deviation is also known as historical volatility.
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