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And
The Beat Goes On - FCM Continues With Outstanding Performance*!
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FCM
Composite*
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3
month
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1
year
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3
years^
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5
years^
|
7
years^
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10
years^
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Since
1/1/89^
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December
31, 2007
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1.21%
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4.81%
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4.80%
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4.91%
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5.31%
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5.75%
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6.79%
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March
31, 2008
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1.19%
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4.84%
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4.81%
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4.88%
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5.24%
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5.70%
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6.76%
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|
|
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Fiduciary
Capital Preservation Plus Fund *
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|
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3
month
|
1
year
|
3
years^
|
5
years^
|
7
years^ |
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Since
6/30/00 |
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December
31, 2007
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1.20%
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4.75%
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4.66%
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4.84%
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5.33%
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5.48%
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March
31, 2008
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1.19%
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4.82%
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4.70%
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4.81%
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5.25%
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5.46%
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FCM continues to achieve significantly higher returns
than comparable fixed income indices with even less volatility than
even cash equivalents, as you can see in the growth of the $10,000 chart
and the risk/return chart below.
^Annualized
gross returns.
(Sources: FCM)
19.25
Years Performance*
(1/1/89
-03/31/08 Annualized)
-
ML 1-3 = Merrill Lynch 1-3
Treasurey Index (approximate duration 1.7 years)
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91 Day T-Bills
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ML/LBGC Int = weighted
composite of the two indices (approximate duration 2.6 years)
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FCM Composite = Composite of
FCM managed accounts (historic duration 2.5 years)
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It is significant that the FCM Composite of managed stable
value portfolios exceeded the return of its most generally recognizable
benchmark, the Merrill Lynch 1-3, and has also bested its durationally
comparable tailored bencmark with even less standard deviation than
cash equivalents. *See FCM's performance Disclosure Statement below.
* FCM Performance Disclosure Statement
FCM's separate account performance record is represented
by a composite of managed accounts constructed to be in compliance with
GIPS (formerly AIMR). The value of the book value put implicit in a
benefit responsive GIC and bond wrap contract is imputed at all times
to be equal to but the reverse of the capital gain or loss on the underlying
principal value of the contract. The effect is that the sum of the principal
gain or loss and the imputed value of the put at all times equals zero,
reflecting the actual book value experience of the plan participant.
Returns are net of transaction costs such as bond wrap fees and any
sub-advisors' fees, and individual monthly portfolio returns are normally
calculated with all cash flows time weighted, using GIPS approved methodology,
and the composite itself is dollar weighted by the assets of the portfolios
included. As called for by GIPS, returns are gross of FCM's management
fees, since FCM's fee varies depending upon the size of the account.
For example, a $50 million account could expect to be charged a 0.26%
annual management fee, whereas a $250 million account would be charged
only about 0.13% under FCM's standard fee schedule. The trustee, custody,
and investment management fees for the FCM pooled fund are 0.35% annually.
No investment is risk free and past results may not be indicative of
future results.
Updated
5/14/08
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