This document is informational in nature only. Nothing herein is intended to imply that an investment in this portfolio may be considered "safe" or "risk free." This investment portfolio may not be suitable for all types of investors. This information is not intended to constitute legal, tax, accounting or investment advice. Prospective clients should consult their own advisors about such matters. No regulatory authority has passed upon or endorsed this summary or the merits of an investment using our strategy.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE PERFORMANCE.
PORTFOLIO PERFORMANCE Monthly performance results include all discretionary accounts within the Athena Managed Equity portfolio including accounts that are no longer active as of the time of the publication of this document. Accounts are included in the composite performance after the day the initial portfolio position trades settle to the present or to the closing of the account. Performance results are asset-weighted composite returns calculated using a daily wealth relative method. Composites are valued daily and cash flows are accounted for on a daily basis. Monthly returns are calculated based on the daily wealth relative series and monthly geometric linking of performance results is used to calculate longer time period returns. Return figures are calculated using posting date accounting. All realized and unrealized capital gains and losses as well as all dividends and interest from investments and cash balances are included. The performance figures presented are net of brokerage commissions and all other expenses, including Athena’s management fee. The investment results shown are not representative of an individually managed account’s rate of return, and differences can occur due to factors such as timing of initial investment, client restrictions, cash movement, etc. Securities and portfolio weights used to implement the portfolio can differ based on account size, custodian, and client guidelines.
PORTFOLIO ALLOCATION GUIDELINES Information concerning portfolio allocations is representative of the target portfolio guidelines as of the publication date and does not necessarily reflect an actual client account. Actual client account composition may differ as a result of client-imposed investment restrictions, the timing of client investments, current market and economic conditions, and security availability. The investment manager may chose to substantially change asset class and individual security allocations at any time and without notice.
PRINCIPAL INVESTMENT RISKS An investment utilizing our investment methodology involves risks, including the risk of loss of a substantial portion (or all) of the amount invested. There is no assurance that the investment process outlined in this document will consistently lead to successful results. PAST PERFORMANCE DOES NOT GUARANTEE OR INDICATE FUTURE RESULTS. Risks of investing in the Athena Managed Equity portfolio include, but are not limited to: EQUITY RISK There are risks associated with equity investing, including the risk of loss of principal. ETF, MF AND CEF RISK The cost of investing in the portfolio will be higher than the cost of investing directly in Electronically Traded Funds (ETFs), Mutual Funds (MFs) and Closed-End Funds (CEFs) and may be higher than other portfolios that invest directly in stocks and bonds. Each ETF, CEF and MF is subject to specific risks, depending on the nature of the fund. CONCENTRATED PORTFOLIO RISK An investment concentrated in sectors and industries may involve greater risk and volatility than a more diversified investment. SMALL COMPANY RISK There are risks associated with small and mid-cap investing such as increased volatility, less liquidity, limited product lines, and small market share. LEVERAGE RISK The portfolio may invest in ETFs which employ leverage, options, futures and other derivative instruments in order to amplify stock market movements or invert such movements. When the portfolio is invested in these ETFs, the portfolio will experience much greater volatility than does the underlying equity market. DERIVATIVES RISK Futures, options and swaps involve risks different from, or possibly greater than the risks associated with investing directly in securities including leverage risk, tracking risk and counterparty default risk in the case of over the counter derivatives. Option positions may expire worthless exposing the Fund to potentially significant losses. FOREIGN INVESTMENT RISK Foreign investing involves risks not typically associated with U.S. investments, including adverse fluctuations in foreign currency values, adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards. Investing in emerging markets imposes risks different from, or greater than, risks of investing in foreign developed countries.
BENCHMARK DISCLOSURE The benchmark for the Athena Global Tactical ETFs portfolio is comprised of 100% Morningstar Global Markets Index. This benchmark was selected to generally represent a similar opportunity set of investments compared with the portfolio. The portfolio does not seek to replicate the composition, performance, or volatility of the benchmark or its constituent indices and can be expected to have investments that differ substantially from the securities included in any index. Accordingly, no representation is made that the performance, volatility, or other characteristics of the portfolio will track the benchmark. It is not possible to invest directly in an index.
INDEX DEFINITIONS: MORNINGSTAR GLOBAL MARKETS INDEX The index measures the performance of the stocks located in the developed and emerging countries across the world. Stocks in the index are weighted by their float capital, which removes corporate cross ownership, government holdings and other locked-in shares.
Athena portfolios are not sponsored, endorsed, sold or promoted by Morningstar, Inc. or any of its affiliates (all such entities, collectively, “Morningstar Entities”). The Morningstar Entities make no representation or warranty, express or implied, to the owners of Athena portfolios or any member of the public regarding the advisability of investing in Athena portfolios or the ability of the portfolio to track general market performance.
THE MORNINGSTAR ENTITIES DO NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF THE ATHENA PORTFOLIOS OR ANY DATA INCLUDED THEREIN AND MORNINGSTAR ENTITIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN.
DATA DISCLOSURE All of the information included in this document is current as of the date indicated and is subject to change. Certain information has been obtained from various third-party sources believed to be reliable, but we cannot guarantee its accuracy or completeness. This information is not intended to be complete, and material aspects of the descriptions contained herein may change at any time. While the information prepared in this document is believed to be accurate, we make no express warranty as to the completeness nor can we accept responsibility for errors made in good faith.
INVESTMENT MANAGER Portfolio management is provided by AthenaInvest Advisors LLC, an SEC-registered investment advisor. Such registration does not imply that the Securities and Exchange Commission approves or endorses AthenaInvest, its investment strategies, or any of its marketing materials. The portfolio manager may invest all or a portion of this portfolio in pooled investment vehicles such as mutual funds or ETFs which are advised or sub-advised by the manager. In such circumstances, the portfolio manager will be paid a management fee for this portfolio and on the underlying pooled investment vehicle.
Morningstar Ratings™ are based on risk-adjusted performance as of 12/31/2019. The Morningstar Rating™ for a strategy is derived from a weighted-average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics. For each strategy with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a strategy’s monthly performance (including the effects of applicable fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of strategies in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star.
© 2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Athena Managed Equity is a multi-strategy "Best of Athena" behavioral equity portfolio designed for growth and income. The portfolio employs a specific combination of value, dividend and tactical investment strategies, with a unique blend of stocks and ETFs, to deliver a strategy diverse behavioral investment portfolio. The Athena Pure Valuation | Profitability strategy is a valuation strategy designed to take advantage of behavioral mistakes in a specific segment of the US equity market. The Athena Dividend Income Equity is a US dividend equity strategy that uses patented behavioral research to identify the best ideas of the best managers for stock selection. The Athena Global Tactical ETFs strategy uses patented behavioral research to determine the most attractive equity markets and capitalization ranges in which to invest on a global basis to provide tactical exposure.
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GIPS® Presentation