All investments contain risk and may lose value. This podcast is for general information only and should not be relied on for investment advice or recommendation of any particular security, strategy, or investment product.
The portfolio manager’s views and opinions expressed in this podcast are as of April 13, 2021. Such views are subject to change and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments include some estimated and/or forecasted views, which are believed to be based on reasonable assumptions within the bounds of current and historical information. However, there is no guarantee that any estimates, forecasts or views will be realized. Any discussion or view on a particular company, asset class/segment, industry/sector and/or investment type are not investment recommendations, should not be assumed to be profitable, and are subject to change. General examples provided are for illustration purposes and should not be viewed as expected results. In the event of new information or changed circumstances, H&W reserves the right to change its investment perspective and outlook and has no obligation to provide revised assessments and opinions. The podcast may also contain views that are forward-looking statements. Due to various risks and uncertainties, actual events/results or the performance of the Large Cap Fundamental Value strategy may differ materially from those reflected or contemplated in such forward-looking statements.
Investment returns include reinvestment of dividends, interest and capital gains. Valuation is based on trade-date information. Net performance results are presented after actual management fees and all trading expenses but before custodial fees. The Large Cap Fundamental Value strategy’s returns for different time periods and market cycles can result in significantly different performance results. An account’s investment guidelines, timing of transactions, market conditions at the time of investment and other factors may lead to different performance results. The Composite includes all Large Cap Fundamental Value discretionary accounts. The Large Cap Fundamental Value strategy seeks current income and long-term growth of income, as well as capital appreciation, primarily through investments in equity securities of large capitalization companies and may invest in foreign (non-U.S.) securities. Additional performance disclosures are included in the strategy’s GIPS Report. The Russell 1000 Value Index measures the performance of those Russell 1000 companies with lower price-to-book ratios and lower forecasted growth values.
Investing in equity securities have greater risks and price volatility than U.S. Treasuries and bonds, where the price of these securities may decline due to various company, industry, and market factors. Investing in foreign as well as emerging markets involves additional risk such as greater volatility, political, economic, and currency risks and differences in accounting methods.
A value-oriented investment approach involves the risk that value stocks may remain undervalued or may not appreciate in value as anticipated. Value stocks can perform differently from the market as a whole or from other types of stocks and may be out of favor with investors and underperform growth stocks for varying periods of time. Value and growth investing styles will go in and out of favor during different economic environments. Growth investing tends to work well during speculative, momentum-driven markets, while value investing tends to work well following recessionary periods.
Market Disruption: The global coronavirus pandemic has caused and continues to cause disruption in the global economy, unprecedented business and travel disruption and extreme fluctuations in global capital and financial markets. H&W is unable to predict the consequences of the upheaval caused by coronavirus pandemic, which, depending on the severity and the length of the outbreak, has the potential to negatively impact the firm’s investment strategies and reduce available investment opportunities.
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Past performance is not indicative of future performance.