Notes & Disclosures
Past performance is no guarantee of future results. Investing involves risk, including the loss of principle.
Nothing contained herein is to be considered a solicitation, research material, an investment recommendation or advice of any kind. The information contained herein may contain information that is subject to change without notice. Any investments or strategies referenced herein do not take into account the investment objectives, financial situation or particular needs of any specific person.
1Environmental, Social and Governance ("ESG") investing involves certain risks because the methodology of an underlying strategy selects and assigns weights to securities of issuers for nonfinancial reasons. As such, an ESG strategy may underperform the broader equiity market or other strategies that do not utilize ESG criteria when selecting investments. The compaines selected as demonstrating ESG characteristics may not be the same companies selected by other providers that use similar ESG screens. In addition, companies selected may not exhibit positive or favorable ESG characteristics. Regulatory changes or interpretations regarding the definitions and/or use of ESG criteria could have a material adverse effect on a strategy's ability to invest in accordance with its investment policies and/or achieve its investment objective.
2Mutual funds and exchange-traded funds are sold by prospectus. Please consider the investment objectives, risks, charges, and expenses carefully before investing. The prospectus, which contains this and other information about the investment company, can be obtained directly from the Fund Company or your financial professional. Be sure to read the prospectus carefully before deciding whether to invest.
3The fund management fee is the weighted average annual expense ratio of the funds held by the strategies. It does not reflect advisory fees paid to AlphaGlider which are dependent on total assets invested.
4Data provided by Morningstar. Forward dividend yield is the weighted average ratio of dividends a strategy's funds are expected to pay over the coming 12 months to the strategy's funds' share prices. Forward price-to-earnings ratio (P/E) is the weighted average ratio of the strategy's equity fund company share prices to the strategy's equity funds' expected company earnings over the coming 12 months. Average effective duration measures the sensitivity of the price of the strategy's fixed income funds with or without embedded options to changes in interest rates, taking into account the likelihood of the underlying bonds being called, put and/or sunk prior to their final maturity dates while incorporating after-tax impacts on the bonds. Average effective duration provides a measure of the strategy's fixed income funds' interest-rate sensitivity.
5The strategy composition is subject to change without notice. Holdings of individual client portfolio may differ, sometimes significantly, from those shown. Percentages may not total 100 due to rounding. AlphaGlider strategies may differ significantly from the securities held in their benchmarks which are composites of indexes.
6Small capitalization securities involve greater issuer risk than larger capitalization securities, and the markets for such securities may be more volatile and less liquid. Specifically, small capitalization companies may be subject to more volatile market movements than securities of larger, more established companies, both because the securities typically are graded in lower volume and because the issuers typically are more subject to changes in earnings and prospects.
Investing internationally carries additional risks such as differences in financial reporting, currency exchange risk, as well as economic and political risk unique to the specific country. This may result in greater share price volatility. Investments in emerging markets may be more volatile and less liquid than investing in developed markets and may involve exposure to economic structures that are generally less diverse and mature and to political systems which have less stability than those of more developed countries. Shares, when sold, may be worth more or less than their original cost.
Alternative investments, including hedge funds, commodities and managed futures involve a high degree of risk, often engage in leveraging and other speculative investments practices that may increase risk of investment loss, can be highly illiquid, are not required to provide periodic pricing or valuation information to investors, may involve complex tax structures and delays in distributing important tax information, are subject to the same regulatory requirements as mutual funds, often charge higher fees which may offset any trading profits, and in many cases the underlying investments are not transparent and are known only to the investment manager. The performance of alternative investments including hedge funds and managed futures can be volatile. Often, hedge funds or managed futures account managers have total trading authority over their funds or accounts; the use of a single advisor applying generally similar trading programs could mean lack of diversification and, consequently, higher risk. There is often no secondary market for an investor’s interest in alternative investments, including hedge funds and managed futures and none is expected to develop. There may be restrictions on transferring interests in any alternative investment. Alternative investment products including hedge funds and managed futures often execute a substantial portion of their trades on non-US exchanges. Investing in foreign markets may entail risks that differ from those associated with investments in the US markets. Additionally, alternative investments including hedge funds and managed futures often entail commodity trading which can involve substantial risk of loss.
7Benchmarks and their underlying indexes are unmanaged and do not incur any fees, commissions, or other expenses that are incurred by typical investors. One cannot invest directly in the benchmarks or the indexes. Benchmarks are rebalanced monthly, assuming reinvestment of dividends and interest.
8The MSCI All Country World Index (ACWI) Investable Market Index (IMI) Total Return Net is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets of all market capitalizations.
9The Bloomberg Barclays US Aggregate Bond Index is a market capitalization weighted index that is designed to track most investment grade bonds traded in the United States. The index includes Treasury securities, government agency bonds, mortgage-backed bonds, corporate bonds and a small amount of foreign bonds traded in the United States. Municipal bonds and Treasury Inflation-Protected Securities (TIPS) are excluded due to tax treatment issues.
