Market insight and a highlight of Cabana’s year-to-date performance:
Cabana’s seven portfolios range from “Conservative” to “Aggressive” and include an income strategy and an “Accumulator” portfolio. Performance is as of market close on March 12, 2018 and is presented net of maximum advisory fees and commissions.
All of the Cabana Portfolios were up over the past week. Gains ranged from +0.68% to +2.49%. The Aggressive Portfolio led the way and the Alpha Income trailed.
We provided a note last week to all of our clients advising that our proprietary algorithm signaled a return to a more aggressive allocation. All portfolios were reallocated by market close on the March 8, 2018 (not including Alpha Income). We are currently “moderately bullish”. All portfolios remain hedged to varying degrees and consistent with the target draw-down of the individual portfolio.
Equity and bond markets around the world have continued to stabilize following the rapid rise in interest rates that began in early February. This was precipitated by strong demand-side earnings growth, coupled with hints that inflation may finally pick up after years of prodding by Central Banks. We have recently provided several comments about these issues, as well as the likely effect on asset prices. I again encourage those of you who are interested to visit our blog at www.cabanaportfolio.com/blog. While we certainly do not suggest to have all the answers, we try to provide information and statistics that will allow for enlightened discussion. Please let us know if there is ever any topic that you would like us to cover and we will take a shot. In the meantime, we will enjoy what the market gives us and take things one day at a time.
Year-to-date net-of-fees performance:
ALPHA INCOME: -0.33%
Performance is presented net of the maximum advisory fees and commissions (2%). Numbers indicated with (+) for positive return and (-) for negative return.
-G. Chadd Mason, CEO
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All performance returns are presented net-of-fees and include the reinvestment of dividends and capital gains. Benchmark comparisons are presented gross-of-fees.
Past performance may not be indicative of future returns. No current or prospective client should assume that the future performance of any specific investment or strategy will be profitable or equal to past performance levels.
All investment strategies have the potential for profit or loss. All strategies have different degrees of risk. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client.
Historical performance results for investment indexes and/or categories typically do not show the impact of transaction and/or custodial charges or the deduction of an advisory fee, which may decrease historical performance results. There can be no assurances that a strategy will match or exceed its benchmark.
Some performance returns do not represent actual trading using client assets but were achieved through retroactive application of a model designed with the benefit of hindsight. Model returns have inherent limitations. Specifically, these returns do not represent actual trading and may not reflect the impact of material economic and market factors on the adviser’s decision-making if the adviser had actually managed the client’s money during this time frame.
Different types of investments involve higher and lower levels of risk. There is no guarantee that a specific investment or strategy will be suitable or profitable for an investor’s portfolio. There are no assurances that a portfolio will match or exceed any particular benchmark.
Cabana LLC manages assets on multiple custodial platforms. Performance results may vary based upon differences in associated costs and asset availability within the Cabana Model.