Understanding performance information

The performance information presented in certain charts or tables may represent backtested performance based on one or more Makara prepopulated, professionally created baskets, individual assets or a combination thereof.  Such performance assumes a buy and hold strategy and periodic rebalancing. Backtested performance is hypothetical (it does not reflect trading in actual accounts) and is provided for informational purposes only to indicate historical performance had you invested in the portfolios over the relevant period and is NOT an indicator of future actual results.

Actual performance for your account may be materially lower than that of the performance should you have actually invested in such securities and held them for an identical period.  Backtested performance results have certain inherent limitations. Backtested performance does not include the imposition of Makara advisory fees or trading costs and assumes that there are no additional deposits or withdrawals during the period indicated.

Backtested performance results assumes the periodic rebalancing of any of the prepopulated Makara baskets in the portfolio.  It is important to understand that the assumption of rebalancing has an impact on the returns reported.  For example, with quarterly rebalancing on a Makara prepopulated basket, the quarterly return is calculated with the assumption that the portfolio is perfectly in balance at the beginning of each quarter.

In addition, backtested performance assumes that all the securities used were available during the period presented and also assumes that the markets were sufficiently liquid to permit the types of trading used to calculate the performance.

As with any investment strategy, there is potential for profit as well as the possibility of loss. Makara does not guarantee any minimum level of investment performance or the success of any portfolio or investment strategy. All investments involve risk and investment decisions will not always be profitable.

Past performance does not guarantee future results