7
July
2010
GoldCore Portfolio performance to the end of June 2010
Our review of the performance of our portfolios to the end of June 2010 net of the fund management charges.
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Comparison Funds
AIB Investment Managers – AIPUT Managed
Bank of Ireland Asset Management – Pensions Managed Fund (PMF)
Canada Life/Setanta Asset Management – Series D Managed Fund
Eagle Star/Zurich Life – Balanced Fund
Friends First/F&C – Mixed Fund
Hibernian Aviva - Pension Balanced Managed Fund
Irish Life Investment Managers - Pension Managed Fund (MR1)
KBC Asset Management – Managed Fund
Merrion Investment Managers – Managed Fund (Note no data for 20 years)
Standard Life Investments – Global Assets Fund
Portfolio back-testing disclosure
Warning: Past performance is not a reliable guide to future performance. These figures are estimates only. They are not a reliable guide to the future performance of this investment.
Source: Dimensional Fund Advisers (www.dfauk.com) and Rubicon Investment Consulting.
The minimum investment in these portfolios is €100,000. GoldCore Portfolios are illustrated net of representative fund management fees.
For further information on back-testing methodology please see here
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 January 1971 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. GoldCore Ltd is regulated by the Financial Regulator as a product producer.
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