The performance shown is for the stated time period only; due to market volatility, current performance may be different. Portfolio performance is calculated utilizing a time weighted return (TWR) methodology. The TWR for the time periods shown measures the compound rate of growth in the account(s). TWR breaks up the return on an account(s) into separate intervals based on whether money was added or withdrawn. The TWR is expressed as a percentage gain or loss in the investment’s value. Net-of-fees returns are based on gross returns minus investment management fees paid. The investment management fee is listed in Attachment A of your Investment Advisory Agreement. Net performance includes the reinvestment of income and dividends.
Certain security types and other assets are excluded from this report. These assets may include, among others, real estate, notes and mortgages, insurance policies, personal property, receivables, and partnerships interests. The performance results have been compiled solely by Legacy Bridge and have not been independently verified. Please keep in mind that past performance may not be indicative of future results and does not guarantee future positive returns. This report includes information as of the date indicated based on trades that have been executed in the account(s). To the extent that your regular account statements report information based on settlement date rather than trade date, there is a possibility that trades executed but not settled before the end of a reporting period may be reflected in this report but not on your regular account statements.
The information provided in this performance review is obtained from sources believed to be reliable. While your monthly account statement is the prevailing document on your account, the ending value on this report plus any outside investments, is the value used for fee calculations. Please review the information contained on this statement to the statement provided by Charles Schwab & Company, our Qualified Custodian. This amount may differ from your account statement due to a variety of factors including the treatment of accrued income and dividends, rounding and other considerations. If there is a discrepancy between the statements, please contact either Cindy Eaton, 515-421-4872 or Tim Kadlec, 515-421-4871, immediately.
If you have any changes in your financial circumstances or objectives, or if you wish to impose or modify any reasonable restrictions on the management of your account(s), please contact either Cindy Eaton or Tim Kadlec. Current Disclosure Document for the advisory services you are currently using are available upon request.
Legacy Bridge compares clients’ performance results to a benchmark or a combination of benchmarks most closely resembling clients’ actual portfolio holdings.
Effective June 1, 2020, the Firm has elected to change its blended benchmarks to better reflect the firm’s investment management philosophy. All benchmarks are reviewed and rebalanced periodically.
Our Balanced- Passive Benchmark is a blended combination of the following indices: 7% Bloomberg Barclays Global Agg xUS/12.5% Bloomberg Barclays Muni 3 yr/12.5% Bloomberg US 1-5 yr Corp/4 %Bloomberg Barclays US HY Inter/2% Bloomberg Barclays Commodity/6% Dow Jones US Select REIT/2% Lipper Alternative Multi-Strat Funds/8% MSCI EAFE IMI Net/2% MSCI EM/5% Russell 2000/5% Russell Midcap/30% S&P 500/4% S&P Preferred Stk. The blended benchmark is subject to change based on the current allocation of the Balanced investment objective.
Our Balanced-Passive Appreciation Benchmark is a blended combination of the following indices: 5% Bloomberg Barclays Global Agg xUS/10% Bloomberg Barclays Muni 3 yr/10% Bloomberg US 1-5 yr Corp/3% Bloomberg Barclays US HY Inter/2% Bloomberg Barclays Commodity/6% Dow Jones US Select REIT/2% Lipper Alternative Multi-Strat Funds/9% MSCI EAFE IMI Net/3% MSCI EM/6% Russell 2000/7% Russell Midcap/35% S&P 500/2% S&P Preferred Stk. The blended benchmark is subject to change based on the current allocation of the Balanced Appreciation investment objective.
Our Appreciation-Passive Benchmark is a blended combination of the following: 2% Bloomberg Barclays Global Agg xUS/4% Bloomberg Barclays Muni 3 yr/4% Bloomberg US 1-5 yr Corp/2% Bloomberg Barclays Commodity/8% Dow Jones US Select REIT/5% Lipper Alternative Multi-Strat Funds/10% MSCI EAFE IMI Net/4% MSCI EM/8% Russell 2000/8% Russell Midcap/45% S&P 500. The blended benchmark is subject to change based on the current allocation of the Passive Appreciation investment objective
Our Balanced-Active Benchmark is a blended combination of the following: 1% Alerian Energy MLP/15% Bloomberg Barclays US 1-5Yr Corp/1% Lipper Commodity Gen Fund/2.5% Lipper Emerging Mkt/10% Lipper Int/29.5% Lipper Lg-Cap Core/4% Lipper Mid-Cap/3% Lipper Real Estate/15% Lipper Sh-In Muni/15% Lipper Sht Inv Grd/4% Lipper Sm-Cap. The blended benchmark is subject to change based on the current allocation of the Balanced investment objective.
Our Balanced-Active Appreciation Benchmark is a blended combination of the following: 5% Lipper Alternative Multi-Strat/2.5% Lipper Commodity Gen Fund/10% Lipper Core Bond/5% Lipper Emerging Mkt/10% Lipper Int/35% Lipper Lg-Cap Core/5% Lipper Mid-Cap/2.5% Lipper Real Estate/10% Lipper Sh-In Muni/10% Lipper Sht Inv Grd/5% Lipper Sm-Cap. The blended benchmark is subject to change based on the current allocation of the Balanced Appreciation investment objective.
Our Appreciation-Active Benchmark is a blended combination of: 5% Alerian Energy MLP/2.5% Lipper Commodity Gen Fund/2.5% Lipper Core Bond/7.5% Lipper Emerging Mkt/15% Lipper Int/45% Lipper Lg-Cap Core/7.5% Lipper Mid-Cap/2.5% Lipper Real Estate/2.5% Lipper Sh-In Muni/2.5% Lipper Sht Inv Grd/7.5% Lipper Sm-Cap. The blended benchmark is subject to change based on the current allocation of the Appreciation investment objective
References in this statement made to various financial indices are for illustrative purposes only. The investments may be more or less diversified and/or volatile than the referenced indices, and the referenced indices may reflect positions that are not within the investment objectives.
An index is a portfolio of specific securities, the performance of which is often used as a benchmark in judging the relative performance of certain investments. Indexes are unmanaged portfolios and investors cannot invest directly in an index. The index returns are “total returns” with dividends reinvested, which means the return is not only the change in price for the securities in the index, but any income generated by those securities.
The S&P 500 Index is an unmanaged index that generally represents performance of U. S. large capitalization companies. The MSCI EAFE Index is a free-float-adjusted market capitalization index that is designed to measure the equity performance of international developed markets, excluding the US & Canada. The MSCI Emerging Markets Index is a free-float-adjusted market capitalization index that is designed to measure equity market performance of international emerging markets. The Russell 2000 Index is a stock market index comprised of 2000 small-capitalization companies. The index is market-cap weighted and used frequently as a benchmark for small-cap investors. The Russell Midcap Index is a market-capitalization-weighted index of the 800 U.S. publicly traded companies in the Russell 1000. This index is the most widely followed midcap index. The S&P Preferred Stock Index is a benchmark representing the U.S. preferred stock market.
The Bloomberg Barclays Global Aggregate Index is a measure of global investment grade debt from twenty-four local currency markets. This multi-currency benchmark includes treasury, government-related, corporate, and securitized fixed-rate bonds from both developed and emerging markets issuers. The Bloomberg Barclays 3 Year Municipal Index is a subset of the Barclays Municipal Bond Index covering those issues with remaining maturities of two to three years. The Bloomberg Barclays US Corporate Bond Index measures the investment grade, fixed-rate, taxable corporate bond market. It includes USD denominated securities publicly issued by US and non-US industrial, utility, and financial issuers. Bloomberg Barclays US High Yield Intermediate represents non-investment grade bonds with intermediate maturities.
Bloomberg Commodity Indices (BCOM) are a family of financial benchmarks designed to provide liquid and diversified exposure to physical commodities via future contracts. The Dow Jones U.S. Select REIT Index tracks the performance of publicly traded REITs and REIT-like securities and is designed to serve as a proxy for direct real estate investment, in part by excluding companies whose performance may be driven by factors other than the value of real estate
Lipper indices are indices constructed and managed by Lipper, which is part of Thomson Reuters. Lipper Indices are indices that track the financial performance of different types of managed fund strategies. Each Index is based on the performance of the largest publicly traded funds in the strategy group. To create each index, Lipper averages the returns of the funds in the investable market that are managed to the index’s strategy. The performance of an unmanaged index is not indicative of the performance of any particular investment. Investments offering the potential for higher rate of return sometimes involve a higher degree of risk. Performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing performance results.
Past performance is not indicative of future results.
The views in the Executive Summary represent the opinion of Legacy Bridge. The views are subject to change and are not intended as a forecast or guarantee of future results. This material is for informational purposes only. It does not constitute investment advice and is not intended as an endorsement of any specific investment. Stated information is derived from proprietary and nonproprietary sources that have not been independently verified for accuracy or completeness. While Legacy Bridge believes the information to be accurate and reliable, we do not claim or have responsibility for its completeness, accuracy, or reliability. Statements of future expectations, estimates, projections, and other forward-looking statements are based on available information and the Legacy Bridge’s view as of the time of these statements.