COMPARATIVE PORTFOLIO PERFORMANCE

In the bear market of 2000 through 2002, Henry Armstrong protected the gains it earned during the bull market of the late 1990s. Many institutions, on the other hand, failed to protect their clients’ capital.

NOTES

$1 million invested on December 31, 1994 would have grown to:1

  • $9.2 million if invested in the Equity Composite – Henry H. Armstrong Equity Composite.
  • $8.5 million if invested in the NASDAQ – A broadly diversified index heavily weighted to technology and “news making” stocks.
  • $7.9 million if invested in the 5 Largest U.S. Equity Mutual Funds2 – The five largest mutual funds are managed
    and distributed by American Funds, Vanguard, and Fidelity.
  • $7.4 million if invested in the S&P 500 – Widely followed index of 500 of the largest well-established U.S. companies.
  • $7.2 million if invested in the Russell 2000 – Widely followed index of 2000 smaller U.S. companies.

Henry H. Armstrong Equity Composite is NET of 1% management fee.
The S&P 500, NASDAQ, and Russell 2000 indices are PRIOR to fee.

1. Returns are pre-tax.
2. The Five Largest Equity Funds at 12/31/16 were: American Funds Growth Fund, American Funds Washington Mutual, Vanguard 500 Index Fund and Vanguard Total Stock, Fidelity Contra Fund. Source: Morningstar, Bloomberg

This information is supplemental information and complements a full disclosure presentation which is in our attached brochure.
Past performance does not guarantee future results.