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The information contained herein is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security. Any such offering will be made only by means of a formal offering memorandum. This information does not purport to be complete and is for discussion purposes only.
The performance information has been prepared internally and has not been independently audited or verified.
There are significant differences between the S&P 500 index and the GWA portfolios presented herein. The S&P 500 index is an unmanaged, market value weighted index wherein the GWA portfolios are wealth weighted portfolios, other significant differences exist. The index is used for comparison purposes only.
The backtested performance used to extend the duration of some of the charts was derived from a retroactive application of a model with the benefit of hindsight. The portfolio was not available through GWA during a portion of the periods presented.
The backtested performance of GWA portfolios do not reflect the deduction of advisory fees, brokerage or other commissions or expenses. The limitations in the hypothetical results presented do not reflect actual trading and may not reflect the effect that material economic and market factors may have on the managers decision making had actual funds been invested. Actual client results may differ.
GWA strategies have the risk of total loss, and we make no guarantees that the simulated performance will continue in the future. Market index information and statistics were compiled from sources we believe to be reliable, no representation or guarantee is made with respect to the accuracy or completeness of the data.
This presented information is meant for institutional investors, individuals and other investors may not be suitable for this product.
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