SAMPLE COMPLIANT PRESENTATIONS - LARGE-CAP SMA

SAMPLE COMPLIANT PRESENTATIONS - LARGE-CAP SMA

SAMPLE 8

Notes:

1.  
   Sample 8 Investments claims compliance with the Global Investment Performance Standards (GIPS^®) and has prepared and presented this report in compliance with the GIPS standards. Sample 8 Investments has been independently verified for the period from 1 April 1996 through 31 December 2009.
   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. The Large Cap SMA Composite has been examined for the period from 1 January 2006 through 31 December 2009. The verification and performance examination reports are available upon request.
2.  
   Sample 8 Investments is an independent investment adviser registered under the Investment Advisers Act of 1940, was founded in March 1996, and manages global large-cap equity, fixed-income, and balanced strategies.
3.  
   Beginning 1 January 2006, the composite includes only wrap fee (SMA) portfolios benchmarked to the XYZ Index. Performance results prior to 2006 are based on the Large-Cap Institutional Composite returns.
4.  
   The Large-Cap SMA Composite is composed of portfolios invested in US equities which have a market capitalization greater than $5 billion.
5.  
   The composite was created in February 2006. A list of composite descriptions is available upon request.
6.  
   All returns are expressed in US dollars. Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.
7.  
   The XYZ Index returns are provided to represent the investment environment existing during the time periods shown. For comparison purposes, the index is fully invested and includes the reinvestment of income. The returns for the index do not include any trading costs, management fees, or other costs. Index returns have been taken from published sources.
8.  
   “Pure” gross returns, presented below as supplemental information, from 2006 through 2010 do not reflect the deduction of any trading costs, fees, or expenses and are presented for comparison purposes only. “Pure” gross returns prior to 2006 reflect the deduction of trading costs. The SMA fee includes all charges for trading costs, portfolio management, custody, and other administrative fees. Net returns are calculated by subtracting the highest applicable SMA fee (2.50% on an annual basis, or 0.21% monthly) on a monthly basis from the “pure” gross composite monthly return. The standard fee schedule in effect is as follows: 2.50% on total assets.
9.  
   The dispersion is measured by the equal-weighted standard deviation of annual returns of those portfolios that are included in the composite for the full year.
10.  
    At 31 December 2010, the three-year annualized ex-post standard deviation of the composite and the benchmark are 12.3% and 13.2%, respectively.
11.  
    Past performance is not an indicator of future results.

INVESTMENTS LARGE-CAP SMA COMPO

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