Open-End Mutual Fund AnalysisQuarterly Reference Guide – Designed for Use by Investment Representatives
Formatted to provide succinct, useful information to investment representatives Customized to financial institution’s preferred vendors Proprietary, quantitative based ranking system based on return and risk adjustedreturn performance
Vendor offerings ranked in 12 - 15 investment objective and/or style categories Information provided for each fund:• Historical returns – 3 month – 15 year
• Historical return & risk adjusted returns – standard deviation, alpha, beta, Sharpe Ratio, Morningstar rating
• Expenses – sales charges, expense ratios, 12b-1 fees
• Equity Portfolio Allocations – cash, stocks, foreign stocks, bonds
• Fixed Income Allocations – SEC yield, distributed yield, average maturity, average coupon, average price
Municipal Bond category customized to client’s geographic footprint nSales charge summary for each vendor, front-load, back-load, and level-load pricing formats.
Open-End Mutual Fund Provider Analysis
Annual Analysis – Designed for Use by Investment Program Management
Formatted to provide succinct, useful information to investment program management in evaluating currentand potential vendors
Evaluates vendors and potential vendors based on return, risk-adjusted return, and expense efficiency acrosstheir product line
Vendor offerings ranked in 12 - 15 investment objective and/or style categories Rankings are compiled to provide average ranking for each vendor Vendors are compared to each other, and to the universe of similar vendors Ranking criteria:• Historical returns & risk adjusted returns – 3 year return, 3 year Sharpe Ratio, average Morningstar ratings
• Expense efficiency – Front-load, back-load, and level-load pricing formats
Product line analysis – comparison of number of product offerings in each investment objective / style category for each vendor.
Closed-End Fund AnalysisQuarterly Reference Guide – Designed for Use by Investment Representatives
Formatted to provide succinct, useful information to investment representatives Covers the entire universe of closed-end funds Proprietary, quantitative based ranking system based on return and risk adjustedreturn performance
Closed-end funds ranked in 13 investment objective categories Information provided for each fund:• Historical Market & NAV returns – 3 month – 10 year
• Historical NAV return & risk adjusted returns – standard deviation 3, 5, 10 year, alpha, beta,
Morningstar rating
• Historical premium / discount averages – current and each of past five years
• Equity Portfolio Allocations – cash, stocks, foreign stocks, bonds, convertible; information economy,
service economy, manufacturing economy
• Fixed Income Allocations – cash, stocks, bonds; average portfolio credit quality, maturity, duration,
coupon, price
• Leverage
Municipal Bond category customized to client’s geographic footprint.
Closed-End Fund New Issue Analysis
Qualitative Analysis
Proposed investment methodology nProspectus portfolio constraints Potential for investment objective, style drift Diversification Initial portfolio characteristics Specific risk factors Derivative policy Effects of potential leverage Advantages / disadvantages of closed-end structure Manager background and experience Investor suitability recommendationsQuantitative Analysis
Historical return and risk characteristics of investment class / style Manager return and risk adjusted return history compared to peer group Expense analysis compared to similar offerings
