Joan Klinkner joan.klinkner@ivafunds.com
(212) 616-4152
|
| 3 Months | YTD | Average Annual Total Returns | |||
| 1 Year | 3 Year | Since Inception | |||
| Gross of Fee |
4.44%
|
-0.86%
|
-0.86%
|
14.03%
|
6.89%
|
| Net of 0.9% Fee |
4.21%
|
-1.75%
|
-1.75%
|
13.02%
|
5.94%
|
| Net of 1.5% Fee |
4.06%
|
-2.34%
|
-2.34%
|
12.35%
|
5.31%
|
| MSCI All Country World Index (Net) |
7.18%
|
-7.35%
|
7.35%
|
12.01%
|
-5.06%
|
IVA claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this information in compliance with the GIPS standards.
The Diversified Global Composite includes all institutional accounts, mutual funds, and limited partnerships benchmarked to the MSCI All Country World Index (Net). The composite was created in March 2009.
Both gross and net returns reflect the deduction of transaction costs and the reinvestment of dividends and other earnings. Returns are net of non-reclaimable withholding taxes. Gross returns do not reflect the deduction of investment advisory fees or any other expenses that may be incurred in the management of the account. Net returns are net of model investment advisory fees in effect for the respective time period. Model net returns are calculated by subtracting the highest applicable fee on a monthly basis from the gross composite return. Actual advisory fees can vary among clients invested in this strategy. The Composite may include accounts with performance-based fees.
Past performance is not indicative of future results. As with any investment vehicle there is always the potential for gains as well as the possibility of losses.
MSCI All Country World Index (Net) is an unmanaged index comprised of 45 country indices comprising 24 developed and 21 emerging market country indices and is calculated with dividends reinvested after deduction of withholding tax. The Index is a trademark of Morgan Stanley Capital International and is not available for direct investment.
The IVA Diversified Global strategy will seek long-term growth of capital by investing in a range of securities and asset classes from markets around the world, including the U.S. market. Over the short-term (12-18 months) our attempt is to preserve capital, while over the longer-term (5-10 years; i.e., over a full economic cycle), we seek to outperform the MSCI All Country World Index.
| Diversified Portfolio | Typically 100 - 150 Positions | |
| Types of Securities | Primarily equities; secondarily high yield and convertible bonds, options, ETFs, preferred stock, asset-backed securities | |
| Asset Classes | Equities, Fixed Income, Real Estate, Commodities, Gold, Cash | |
| Position Sizes | Typically 0.5% - 2.5%; rarely exceeds 5.0% | |
| Country Allocation | Mostly developed countries; low emerging market exposure (<20% historically) | |
| Sector Allocation | No more than 25% in any one sector | |
| Currency Hedging | Opportunistic with a long-term view; rarely 100% hedged | |
| Capitalization | All capitalizations | |
| Benchmark | MSCI All Country World Index |
There are risks associated with investing in securities of foreign countries, such as erratic market conditions, economic and political instability and fluctuations in currency exchange rates. Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.
© 2012 International Value Advisers, LLC. All rights reserved. 
