3
December
2009
November was another positive month for our model portfolios with all 10 delivering positive returns.
Even the 25% risk portfolio is now showing double digit returns on a year to date basis with a net of fees return of 10.29% YTD and with an expected volatility of roughly a quarter of that of the stockmarket.
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Source: GoldCore Wealth Management Dec 2009
GoldCore Portfolios are illustrated Jan 1999 to November 2009 in Euro and net of all fund management and GoldCore advisory fees.
GoldCore investment portfolios were first developed in January 2008. The performance information presented represents back-tested performance based on combined index data and live mutual fund results from 1994 to 10/2009 using the strategy of buying holding and annually rebalancing globally diversified portfolios of largely passive index tracking funds.
Back-tested performance is hypothetical (it does not reflect trading in actual accounts) and is provided for informational purposes to indicate historical performance had the model portfolios been available over the relevant period. Prior to 2008, we did not manage client assets. However, we work with a major Institutional Fund Manager established in 1981 and who manage approx $150 Billion on behalf of 175 of the world’s top Institutional clients.
Our investment philosophy is based on the principles of Modern Portfolio Theory. Our model portfolios are designed to provide substantial global diversification in order to reduce investment concentration and the resulting increased risk caused by the volatility of individual companies, indexes, or asset classes. Client portfolios are monitored and rebalanced, taking into account risk exposure, transaction costs, and tax issues to maintain target asset allocations. Back-tested performance does not represent actual performance and should not be interpreted as an indication of such performance. Actual performance for client accounts may be materially lower than that of the model portfolios.
Back-tested performance results have certain inherent limitations. Such results do not represent the impact that material economic and market factors might have on an investment adviser's decision-making process if the adviser were actually managing client money. Back-tested performance also differs from actual performance because it is achieved through the retroactive application of model portfolios designed with the benefit of hindsight. As a result, the models theoretically may be changed from time to time to obtain more favourable performance results. Not all clients follow our recommendations and depending on unique and changing client and market situations we may customize the construction and implementation of an actual portfolio for particular clients, including the use of mutual funds, tax-mitigation techniques and rebalancing frequency and precision.
As with any investment strategy, there is potential for profit as well as the possibility of loss. Gold Core does not guarantee any minimum level of investment performance or the success of any model portfolio or investment strategy. All investments involve risk and investment recommendations will not always be profitable. Past performance is no guarantee of future investment returns. GoldCore Ltd is regulated by the Financial Regulator
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