Disclosures
Mercer Advisors' Aggressive Portfolio Performance Chart
These returns represent simulated portfolios, rebalanced monthly to the model allocation. Simulated returns reflect reinvestment of all estimated earnings less estimated management fees based on Mercer Advisors' fee schedule that is determined by the client's estimated assets under management, 0.10% estimated trading costs and the estimated mutual funds' internal administrative expenses and transaction fees. Simulated returns do not necessarily portray how a portfolio would have performed because, among other factors, active management decisions may have been made based upon material economic and market factors which at the time could have impacted actual client results.
1 Simulated/Back-tested Returns From 09/2010 to 12/2010 – 17.5% AMOMX, 5.5% BTIIX, 17.5% DFUVX, 9.0% ASMOX, 9.0% DFFVX, 7.5% AIMOX, 2.5% BTAEX, 7.5% DFVIX, 4.0% DFISX, 4.0% DISVX, 2.0% SSEMX, 2.0% DEMSX, 2.0% DFEVX, and 10% AQMIX. Prior to 09/2010 –19.5% BTIIX 01/1993-09/2010, DFLCX 01/91-12/92, S&P 500 Index net of 0.10% annual estimated management fee, 19.5% DFUVX 03/1995-09/2010, DFLVX 04/1993- 02/1995, Fama/French US Large Value Index (ex. Utilities) net of 0.19% annual estimated management fee 01/1990-03/1993, 13.0% DFSTX 04/1992 – 09/2010, CRSP 6-10 Index net of 0.41% annual estimated management fee 01/1990 – 03/1992, 13.0% DFFVX 01/2008-09/2010, DFSVX 04/1993 – 12/2007, Fama French Small Value Index (ex. Util) net of 0.56% annual estimated management fee 01/1990 – 03/1993, 8.5% BTAEX 02/1996 – 09/2010, MSCI EAFE Index net of 0.40% estimated annual management fee 01/1990 – 01/1996, 8.5% DFVIX 03/1995-09/2010, DFIVX 07/1993 – 02/1995, Fama/French Int'l Value Index net of 0.35% estimated annual management fee 09/2010 – 06/1993, 5.5% DFISX 10/1996 – 09/2010, DFA International Small Company Index net of 0.71% estimated management fee 01/1990 – 09/1996, 5.5% DISVX 01/1995 – 09/2010, DFA International Small Company Index, net of 0.83% estimated annual management fee 01/1990 – 12/1994, 1.0% SSEMX 03/1994 – 09/2010 – MSCI Emerging Markets Free (gross) index net of 1.25% estimated management fee 01/1990 to 02/1994, 2.5% DEMSX 04/1998 – 09/2010, Dimensional Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1994 – 03/1998, Fama/French Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1990 – 12/1993, 3.5% DFEVX 04/1998 to 09/2010,Dimensional Emerging Markets Value Index net of 0.85% estimated annual management fee 01/1990 – 03/1997.
2 The blended benchmark is rebalanced monthly and is weighted 65% to the S&P 500 and weighted 35% to the MSCI EAFE Index (net). As always, past performance is not indicative of future returns.
3 S&P 500 historical data 1990–2011.
Sources: Bloomberg, Fama/French, MSCI, Standard & Poor's, Dimensional Fund Advisors.
Mercer Advisors' Moderate Portfolio Performance Chart
These returns represent simulated portfolios, rebalanced monthly to the model allocation. Simulated returns reflect reinvestment of all estimated earnings less estimated management fees based on Mercer Advisors' fee schedule that is determined by the client's estimated assets under management, 0.10% estimated trading costs and the estimated mutual funds' internal administrative expenses and transaction fees. Simulated returns do not necessarily portray how a portfolio would have performed because, among other factors, active management decisions may have been made based upon material economic and market factors which at the time could have impacted actual client results.
1 Simulated/Back-tested Returns 20.0% DFGFX 03/1996 – Current, DFIHX 01/1996 – 02/1996, BofA Merrill Lynch US Treasury Index 1-3 Years 01/1990 – 12/1995, 14.0% AMOMX 01/2010 – Current, French Big / High Momentum Index 01/1990-12/2009 net of 0.49% estimated annual management fee, 4.5% BTIIX 01/1993 – Current, DFLCX 01/91-12/92, S&P 500 Index net of 0.10% annual estimated management fee, 14.0% DFUVX 03/1995 – Current, DFLVX 04/1993-02/1995, Fama/French US Large Value Index (ex. Utilities) net of 0.19% annual estimated management fee 01/1990-03/1993, 7.0% ASMOX 01-2010 – Current, French Small / High Momentum Index 01/1990-12/2009 net of 0.65% estimated annual management fee, 7.0% DFFVX 01/2008 – Current, DFSVX 04/1993 – 12/2007, Fama French Small Value Index (ex. Util) net of 0.56% annual estimated management fee 01/1990 – 03/1993, 6.0% AIMOX 01/2010 – Current, AQR International Momentum Index net of 0.65% estimated annual management fee 01/1990 – 12/2009, 2.0% BTAEX 02/1996 – Current, MSCI EAFE Index net of 0.40% estimated annual management fee 01/1990 – 01/1996, 6.0% DFVIX 03/1995 – Current, DFIVX 07/1993 – 02/1995, Fama/French Int'l Value Index net of 0.35% estimated annual management fee 12/2009 – 06/1993, 3.0% DFISX 10/1996 – Current, DFA International Small Company Index net of 0.71% estimated management fee 01/1990 – 09/1996, 3.0% DISVX 01/1995 – Current, DFA International Small Company Index, net of 0.83% estimated annual management fee 01/1990 – 12/1994, 2.0% SSEMX 03/1994 – Current – MSCI Emerging Markets Free (gross) index net of 1.25% estimated management fee 01/1990 to 02/1994, 1.5% DEMSX 04/1998 – Current, Dimensional Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1994 – 03/1998, Fama/French Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1990 – 12/1993, 2.0% DFEVX 04/1998 – Current, Dimensional Emerging Markets Value Index net of 0.85% estimated annual management fee 01/1990 – 03/1997, 8% AQMIX 02/2010 – Current, AQR Hypothetical Simple Managed Futures Strategy net of 1.25% estimated annual management fee 01/1990 – 01/2010.
2 The blended benchmark is rebalanced monthly and is weighted 52% to the S&P 500, weighted 28% to the MSCI EAFE Index (net) and weighted 40% to the BofA Merrill Lynch 1–3 Year U.S. Treasury Index. As always, past performance is not indicative of future returns.
3 S&P 500 historical data 1990–2011.
Sources: Bloomberg, Fama/French, MSCI, Standard & Poor's, Dimensional Fund Advisors.
Mercer Advisors' Balanced Portfolio Performance Chart
These returns represent simulated portfolios, rebalanced monthly to the model allocation. Simulated returns reflect reinvestment of all estimated earnings less estimated management fees based on Mercer Advisors' fee schedule that is determined by the client's estimated assets under management, 0.10% estimated trading costs and the estimated mutual funds' internal administrative expenses and transaction fees. Simulated returns do not necessarily portray how a portfolio would have performed because, among other factors, active management decisions may have been made based upon material economic and market factors which at the time could have impacted actual client results.
1 Simulated/Back-tested Returns 40.0% DFGFX 03/1996 – Current, DFIHX 01/1996 – 02/1996, BofA Merrill Lynch US Treasury Index 1-3 Years 01/1990 – 12/1995, 10.0% AMOMX 01/2010 – Current, French Big / High Momentum Index 01/1990-12/2009 net of 0.49% estimated annual management fee, 3.5% BTIIX 01/1993 – Current, DFLCX 01/91-12/92, S&P 500 Index net of 0.10% annual estimated management fee, 10.0% DFUVX 03/1995 – Current, DFLVX 04/1993-02/1995, Fama/French US Large Value Index (ex. Utilities) net of 0.19% annual estimated management fee 01/1990-03/1993, 5.5% ASMOX 01-2010 – Current, French Small / High Momentum Index 01/1990-12/2009 net of 0.65% estimated annual management fee, 5.5% DFFVX 01/2008 – Current, DFSVX 04/1993 – 12/2007, Fama French Small Value Index (ex. Util) net of 0.56% annual estimated management fee 01/1990 – 03/1993, 4.5% AIMOX 01/2010 – Current, AQR International Momentum Index net of 0.65% estimated annual management fee 01/1990 – 12/2009, 1.5% BTAEX 02/1996 – Current, MSCI EAFE Index net of 0.40% estimated annual management fee 01/1990 – 01/1996, 4.5% DFVIX 03/1995 – Current, DFIVX 07/1993 – 02/1995, Fama/French Int'l Value Index net of 0.35% estimated annual management fee 12/2009 – 06/1993, 2.5% DFISX 10/1996 – Current, DFA International Small Company Index net of 0.71% estimated management fee 01/1990 – 09/1996, 2.5% DISVX 01/1995 – Current, DFA International Small Company Index, net of 0.83% estimated annual management fee 01/1990 – 12/1994, 1.5% SSEMX 03/1994 – Current – MSCI Emerging Markets Free (gross) index net of 1.25% estimated management fee 01/1990 to 02/1994, 1.0% DEMSX 04/1998 – Current, Dimensional Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1994 – 03/1998, Fama/French Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1990 – 12/1993, 1.5% DFEVX 04/1998 – Current, Dimensional Emerging Markets Value Index net of 0.85% estimated annual management fee 01/1990 – 03/1997, 6% AQMIX 02/2010 – Current, AQR Hypothetical Simple Managed Futures Strategy net of 1.25% estimated annual management fee 01/1990 – 01/2010.
2 The blended benchmark is rebalanced monthly and is weighted 39% to the S&P 500, weighted 21% to the MSCI EAFE Index (net) and weighted 20% to the BofA Merrill Lynch 1–3 Year U.S. Treasury Index. . As always, past performance is not indicative of future returns.
3 S&P 500 historical data 1990–2011.
Sources: Bloomberg, Fama/French, MSCI, Standard & Poor's, Dimensional Fund Advisors.
Mercer Advisors' Conservative Portfolio Performance Chart
These returns represent simulated portfolios, rebalanced monthly to the model allocation. Simulated returns reflect reinvestment of all estimated earnings less estimated management fees based on Mercer Advisors' fee schedule that is determined by the client's estimated assets under management, 0.10% estimated trading costs and the estimated mutual funds' internal administrative expenses and transaction fees. Simulated returns do not necessarily portray how a portfolio would have performed because, among other factors, active management decisions may have been made based upon material economic and market factors which at the time could have impacted actual client results.
1 Simulated/Back-tested Returns 60.0% DFGFX 03/1996 – Current, DFIHX 01/1996 – 02/1996, BofA Merrill Lynch US Treasury Index 1-3 Years 01/1990 – 12/1995, 7.0% AMOMX 01/2010 – Current, French Big / High Momentum Index 01/1990-12/2009 net of 0.49% estimated annual management fee, 3.0% BTIIX 01/1993 – Current, DFLCX 01/91-12/92, S&P 500 Index net of 0.10% annual estimated management fee, 7.0% DFUVX 03/1995 – Current, DFLVX 04/1993-02/1995, Fama/French US Large Value Index (ex. Utilities) net of 0.19% annual estimated management fee 01/1990-03/1993, 3.5% ASMOX 01-2010 – Current, French Small / High Momentum Index 01/1990-12/2009 net of 0.65% estimated annual management fee, 3.5% DFFVX 01/2008 – Current, DFSVX 04/1993 – 12/2007, Fama French Small Value Index (ex. Util) net of 0.56% annual estimated management fee 01/1990 – 03/1993, 3.0% AIMOX 01/2010 – Current, AQR International Momentum Index net of 0.65% estimated annual management fee 01/1990 – 12/2009, 1.0% BTAEX 02/1996 – Current, MSCI EAFE Index net of 0.40% estimated annual management fee 01/1990 – 01/1996, 3.0% DFVIX 03/1995 – Current, DFIVX 07/1993 – 02/1995, Fama/French Int'l Value Index net of 0.35% estimated annual management fee 12/2009 – 06/1993, 1.5% DFISX 10/1996 – Current, DFA International Small Company Index net of 0.71% estimated management fee 01/1990 – 09/1996, 1.5% DISVX 01/1995 – Current, DFA International Small Company Index, net of 0.83% estimated annual management fee 01/1990 – 12/1994, 1.0% SSEMX 03/1994 – Current – MSCI Emerging Markets Free (gross) index net of 1.25% estimated management fee 01/1990 to 02/1994, 1.0% DEMSX 04/1998 – Current, Dimensional Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1994 – 03/1998, Fama/French Emerging Markets Small Cap Index net of 1.20% estimated annual management fee 01/1990 – 12/1993, 4% AQMIX 02/2010 – Current, AQR Hypothetical Simple Managed Futures Strategy net of 1.25% estimated annual management fee 01/1990 – 01/2010.
2 The blended benchmark is rebalanced monthly and is weighted 25% to the S&P 500, weighted 12.5% to the MSCI EAFE Index (net) and weighted 60% to the BofA Merrill Lynch 1–3 Year U.S. Treasury Index. As always, past performance is not indicative of future returns.
3 S&P 500 historical data 1990–2011.
Sources: Bloomberg, Fama/French, MSCI, Standard & Poor's, Dimensional Fund Advisors.
Mercer Global Advisors Inc. is registered with the Securities and Exchange Commission and delivers all investment-related services. Mercer Advisors Inc. is the parent company of Mercer Global Advisors Inc. and is not involved with investment services. Forbes and Investment News rankings are for Mercer Global Advisors Inc.
