Data as of 12/31/2012
|Barclays Capital Gov Int
Methodology: Yearly returns are for all Fixed
Income-only accounts open for the entire year, size-weighted.
Past performance is no indication of future
Your portfolio value will fluctuate such that you
may receive more or less than your original investment should you
choose to close your account.
Actual results may differ from the composite
results, depending on the size of your account, investment
objectives and/or restrictions, when your account is opened and
The performance data quoted above in the chart does
not reflect the deduction of our advisory fees. Your investment
return will be reduced by advisory fees and other account expenses.
Our advisory fees are disclosed in Part 2, Appendix 1 of our Form
The net effect of the deduction of fees on
annualized performance, including the compounded effect over time,
varies with the size of the fee and the account's investment
performance. For example, an account with a [.50]% annualized
management fee deducted quarterly and % annualized performance
before fees will have a net performance after fees of about [9.45]%
per year over a five-year period. The same account with %
annualized performance will have a net performance after fees of
about [15.42]% per year over a five-year period. Compounding will
similarly affect the account's performance on a cumulative
Barclays Capital Government Intermediate Index
is based on all publicly issued obligations of the U.S. Treasury,
and U.S. Government Agencies. This index includes such bonds with
at least $150MM par value outstanding and maturities up to, but not
including, 10 years.
The index referenced above is unmanaged and does not
reflect any transaction costs. It was chosen to give you a basis of
comparison for fixed income performance.