Outperforming the S&P 500 since our launch.

Performance History

GUALARIO & CO., LLC

The Large Cap Equity Composite was created on January 1, 2003 and consists of fully discretionary portfolios with a minimum net asset value of US$20 thousand.  Each portfolio within the Composite is managed according to the firm's large cap equity strategy, commonly referred to by the firm as its "Large Cap Earnings Model."  These portfolios invest primarily in component companies of the S&P 500 Index and do not utilize leverage or derivatives. 

 

Beginning in 2004, 100% of the Composite's portfolio positions have been in the S&P 500 Index.  Margin accounts, which are no longer offered to investors, but managed in a similar manner to the composite's strategy, are excluded from the composite.  For comparison purposes, The Large Cap Equity Composite is measured against the S&P 500 Index. 

All composite rates of return are presented in US Dollars and are net of all investment management fees and trading expenses.  All portfolios are valued based on principal market values plus accrued income. Portfolio returns are calculated using the Modified Dietz method, where cash flows are day-weighted during the period.  New portfolios are included in the composite rate of return calculations with the first full calendar month under management.  Closed portfolios are included in the composite rate of return calculations through the completion of the last full calendar month under management.   In cases where a single cash flow exceeds 25% of a portfolio's beginning net asset value, the portfolio is temporarily removed from the composite returns for the month in which the cash flow occurs and reenters the composite returns in the following month.  The composite's monthly rates of return are the asset-weighted averages of the portfolio's monthly results, which are then linked to determine the quarterly and annual returns.

 

Net of fee returns are calculated by adjusting each monthly portfolio rate of return by the actual fee incurred by that portfolio for the month.  The firm’s fee schedule is as follows: (a) an Initial Asset Fee equal to one percent (1%); and (b) a Performance Fee equal to twenty-five percent (25%) of the dollar increase in the net asset value of an account above such dollar increase of the account had it been invested in the S&P 500 Index.  Performance Fees are calculated quarterly and paid directly from the accounts.   Portfolio quarterly and annual returns are calculated by linking individual monthly returns. 

 

Composite dispersion measures represent the consistency of a firm's composite performance results with respect to the individual portfolio returns within a composite.  Gualario uses the asset-weighted standard deviation measure of dispersion.  Only portfolios that are included in composite returns for the full reported period are included in the asset-weighted standard deviation calculation for that period.  Factors that significantly affect the dispersion measures are account size, timing of transactions and market conditions at the time of investment.

 

No alteration of composites has occurred because of changes in personnel or other reasons at any time.

 

Please note that other return calculation methods may produce different results for individual portfolios and composite returns and past performance is not necessarily indicative of future results.

 

To receive a complete performance presentation, compliant with the presentation requirements of the Association of Investment Management and Research Performance Presentation Standards (AIMR-PPS®) and the U.S. and Canadian version of the Global Investment Performance Standards (GIPS®), please contact us.

 

 

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