Cumulative Returns - Since Inception

• Best Ideas – Market Timing: 9.23%

• BIMT Benchmark - 70% SPDR S&P 500 ETF (SPY) and 30% SPDRS Bloomberg Barclays 1-3m Bill ETF (BIL): 12.19%

• Difference: -2.97%

Top and Bottom Five Contributors – Since Inception

Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur.

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Figures are current as at 31st December 2019.

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Performance is AUD unhedged.

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Figures are NET of investment management fees (0.75% +GST) and GROSS of performance fees (10% of the net-of-fee return above the 12-month average Moodys Seasoned US Corporate Baa Yield + 0.75%).

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Returns are based on a composite of all client accounts invested in the Best Ideas Market Timing strategy.

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Inception date for the Best Ideas Market Timing investment strategy is 11/4/2019.

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All figures are calculated by Interactive Brokers LLC. 

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Benchmark returns are converted into AUD using monthly exchange rate data from Interactive Brokers LLC and the Federal Reserve Economic Data website: https://fred.stlouisfed.org/ .

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Target Asset Allocation (31/12/2019)

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• 80% US Stocks

• 20% Cash and Short-term US Treasuries

Asset Allocation Framework – US Equities

The user's guide to our Asset Allocation Framework can be found HERE