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All investments contain risk and may lose value. Past performance is not indicative of future performance. This article 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 article are as of May 31, 2024. Such views are subject to change without notice and may differ from others in the firm, or the firm as a whole. The portfolio manager’s comments may include 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. The article 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 Diversified 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 and stated in U.S. dollars. Net performance results are presented after actual management fees and all trading expenses but before custodial fees. The Large Cap Diversified 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 Diversified Value discretionary accounts. The Large Cap Diversified Value strategy seeks 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 securities highlighted in this article are intended to be for illustrative purposes only. Any discussion or view of a security, an 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 without notice. There is no assurance that the securities discussed will remain in the portfolio or that securities sold have not been repurchased. The securities discussed do not represent the entire portfolio and may only represent a small portion of the portfolio. 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/or opinions.
Holdings and/or characteristics are based on a representative portfolio of the Large Cap Diversified Value Strategy. This information may vary by portfolio due to different restrictions, cash flows, and other relevant considerations. The portfolio is selected based on factors determined by Advisor to be “representative” of the strategy, considering such factors as (but not limited to) investment guidelines/restrictions, time period under Advisor’s discretion, and/or cash flow activities.
The Russell 1000® Value Index measures the performance of those Russell 1000® companies with lower price-to-book ratios and lower forecasted growth values. The Russell 1000® Growth Index measures the performance of those Russell 1000® Index companies with higher price-to-book ratios and higher forecasted growth values. The S&P 500® Index is a broad-based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Russell Investment Group is the source and owner of the Russell Index data contained herein (and all trademarks related thereto), which may not be redistributed. The information herein is not approved by Russell. H&W and Russell sectors are based on the Global Industry Classification Standard by MSCI and S&P. It is not possible to invest directly in an index.
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.
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