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Assets under management are represented by the value of cash securities and other economic exposures, and are calculated on a gross notional basis. Regulatory assets under management without exposures shown can be provided upon request. Unless otherwise specified, the performance shown herein is that of Insight Investment (for Global Investment Performance Standards (GIPS®), the ‘firm’) and not specifically of INA. See the GIPS® composite disclosure page for important information and related disclosures about firm performance.
Past performance is not a guide to future performance, which will vary. The value of investments and any income from them will fluctuate and is not guaranteed (this may partly be due to exchange rate changes). Future returns are not guaranteed and a loss of principal may occur. Ownership interests in a fund are not insured by the FDIC, are not deposits, obligations of, or endorsed or guaranteed in any way, by BNY Mellon (as further defined below). Neither BNY Mellon nor any of its controlled affiliates (which includes any fund’s general manager/ managing partner/ investment adviser), may directly or indirectly, guarantee, assume, or otherwise insure the obligations or performance of the fund or of any other covered fund in which such fund invests.
Targeted returns intend to demonstrate that the strategy is managed in such a manner as to seek to achieve the target return over a normal market cycle based on what Insight has observed in the market, generally, over the course of an investment cycle. In no circumstances should the targeted returns be regarded as a representation, warranty or prediction that a specific strategy will reflect any particular performance or that it will achieve or is likely to achieve any particular result or that investors will be able to avoid losses, including total losses of their investment.
Certain information shown herein is derived from a representative account deemed to appropriately represent the management styles herein. Each investor’s portfolio is individually managed and will vary from the information shown. The mention of a specific security is not a recommendation to buy or sell such security. The specific securities identified are not representative of all the securities purchased, sold or recommended for advisory clients. It should not be assumed that an investment in the securities identified will be profitable. Actual holdings will vary for each client and there is no guarantee that a particular client’s account will hold any or all of the securities listed.
The quoted benchmarks do not reflect deductions for fees, expenses or taxes, nor reinvestment of interest payments and other forms of income. These benchmarks are unmanaged and cannot be purchased directly by investors. Benchmark performance is shown for illustrative purposes only and does not predict or depict the performance of any investment strategy. There may be material factors relevant to any such comparison such as differences in volatility, security selection, risk profiles and regulatory and legal restrictions between a particular strategy and its associated benchmark.
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Where provided, portfolio holdings are for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.
Ratings reflects the credit ratings by nationally recognized statistical rating organization (NRSRO), including Moody’s, S&P and Fitch. If there are multiple ratings for a security, the lowest rating is used unless ratings are provided by all three agencies, in which case the median rating is used. Credit ratings are subject to change. Total may not add up to 100% due to rounding.
Derivatives are specialized instruments that require investment techniques and risk analysis different from those associated with equities and debt securities. Strategies may use both exchange-traded and over-the-counter derivatives, including, but not limited to, futures, forwards, swaps, options and contracts for differences. These instruments can be highly volatile and expose investors to a high risk of loss. There can be no guarantee or assurance that the use of derivatives will meet or assist in meeting the investment objectives of the strategy.
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Transactions in foreign securities may be executed and settled in local markets. Performance comparisons will be affected by changes in interest rates. Investment returns fluctuate due to changes in market conditions. Investment involves risk, including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved.
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Ciaran Carr, Head of Client Solutions Group, North America discusses if a liability benchmark can offer a better measure of an LDI strategy success than a traditional bond benchmark.
