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Intended Recipient: The information contained in this website is intended for use by insurance companies. It is not intended for use by any other class of institutional investor or for retail investors.
Not Recommendation or Investment Advice: Website content is provided for informational and educational purposes only. It is not designed to be a recommendation of any specific investment product, strategy, or decision, or a recommendation of any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful or unauthorized. The information contained herein is not intended to provide, and should not be relied upon for, accounting, legal, tax, or investment advice. The information contained in this website was not prepared, and is not intended, to address the needs, circumstances, and objectives of any specific institution. The products and strategies described herein are not suitable for all investors.
Investment Risk: All investments involve risk and may lose value. The value of an investment can go down depending upon market conditions. Investing in the bond market is subject to certain unique risks including market, interest-rate, issuer, credit, inflation, liquidity, valuation, volatility, prepayment, and extension that clients should be prepared to bear.
Views Subject to Change: All information and opinions found on this website are presented only as of the date published or indicated, is subject to change, and may be superseded by subsequent market events or for other reasons. In addition, website visitors are responsible for setting the cache settings on their browser to ensure receipt of the most recent data.
Forward-Looking Statements: Predictions and any other forward-looking statements on the website speak only as of the date they are made, and AAM assumes no duty to update them. Forward-looking statements are subject to numerous assumptions, risks, and uncertainties. Actual results could differ materially from those anticipated. Although this material is based upon information that AAM considers reliable and endeavors to keep current, AAM does not assure that this material is accurate, current or complete, and it should not be relied upon as such. Any opinions expressed on this website may change as subsequent conditions vary.
Past Performance: Past performance is not a guarantee of future results.
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AAM RESERVES THE RIGHT TO CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS AT ANY TIME FOR ANY REASON. AAM SUGGESTS THAT VISITORS REVIEW THESE TERMS PERIODICALLY FOR CHANGES. SUCH CHANGES WILL BE EFFECTIVE IMMEDIATELY UPON POSTING. VISITORS ACKNOWLEDGE THAT BY ACCESSING THIS WEBSITE AFTER CHANGES TO THESE TERMS HAVE BEEN POSTED, VISITORS ARE AGREEING TO THESE TERMS AS MODIFIED.
Prepared by Horrigan Resources
NOT LEGAL ADVICE
February 7, 2018
COMPLIANCE DISCLOSURES FOR PSN TOP GUNS AWARD
The criteria on which this award was given.
5-Star Category: Products must have an R-squared of 0.80 or greater relative to the style benchmark for the recent five-year period. Moreover, products must have returns greater than the style benchmark for the three latest three-year rolling periods. After that they select on the products which standard deviation for the five-year period is equal or less than the median standard deviation for the peer group. The top ten returns for the latest three-year period then become the TOP GUNS.
Top Gun Manager definition.
Utilizing a proprietary blend of Informa Investment Solutions’ top priority performance screens, PSN Top Guns ranks products in six proprietary star categories in over 50 universes. This is a highly anticipated quarterly ranking and is widely used by institutional asset managers and investors. Top Guns receive a star rating in the range from one to six. The stars indicate the continued performance over length of time.
Category for which the rating was calculated or determined, the number of advisers surveyed in that category, and the percentage of advisers that received that rating.
AAM claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. AAM has been independently verified for the periods January 1, 2007 through December 31, 2016. The verification report is 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 presentation.
1. AAM was founded in 1982 and specializes in the management of insurance company fixed income and convertible portfolios for companies located in the U.S., Bermuda and Grand Cayman. Core Bond Composite performance returns represent AAM’s primary fixed-income strategy, investing throughout the investment-grade market within a relative value framework.
2. The benchmark shown is the Bloomberg Barclays U.S. Aggregate Bond Index.
3. Valuations and returns are computed and stated in U.S. Dollars.
4. Composite dispersion represents the consistency of a firm’s composite performance results with respect to the individual portfolio returns within a composite. The dispersion of annual returns is measured by the equal-weighted standard deviation of portfolio returns represented within the composite for the full year.
5. Performance results are presented as gross returns, and do not reflect the deduction of advisory fees. Client returns will be reduced by such fees and other expenses it may incur in the management of its account. Advisory fees are described in Part 2 of the adviser’s Form ADV. The Impact of AAM Management Fees on Investment Return schedule provides the effect of advisory fees, compounded over a period of years, on the total value of a client’s portfolio, and is listed on a separate page.
6. This composite was created in May 2003. A complete list of the firm’s composite descriptions and the firm’s policies for valuing portfolios, calculating performance and preparing compliant presentations are available upon request.
7. The minimum account size for inclusion in the Core Bond Composite is $50,000,000.
8. AAM changed accounting systems and pricing sources during 1Q16. The rate of return calculations remain GIPS compliant, converting to a true time-weighted, daily-based, return calculation.
9. Historical performance results are not a guarantee of future performance results.
10. The management fee schedule is as follows and is computed based on assets under management:
$1,000,000,000–and above 0.06%
PSN rating may not be representative of any one client’s experience.
Award is not indicative of future performance.
AAM did not pay a fee for inclusion.
About Informa Investment Solutions A market leader in intelligence and software solutions for investment professionals and financial institutions of all sizes, Informa Investment Solutions offers a robust set of analytics and tools to help you grow and retain your business. With a nearly 40-year history, Informa Investment Solutions is part of Informa PLC, a leading business-to-business knowledge provider serving International markets. Informa Investment Solutions has set the standard for providing turnkey and customizable applications for performing manager searches, building wealth plans, and producing client reports and investment marketing materials for companies worldwide. For more information, please visit http://www.informais.com/ and follow https://twitter.com/InformaInvest.