The performance mentioned is based on the quarterly recorded values of a tracking account. The numbers reflect actual trades and are presented net of brokerage and asset management fees. ChainStreet Capital was launched on later part of 2010 but we will start tracking the portfolio from 1st January, 2011. We will use this as inception date for tracking and reporting performance. All dividends, distributions and capital gains are reinvested. Because the portfolios contain a limited number of securities, their returns will be more volatile than a portfolio invested in a higher number of securities. The benchmark index for the portfolio is the S&P 500 Index ETF with dividends included. Nothing discussed anywhere on this website should be viewed as individual investment advice.
First, the legal versions of disclaimers about our portfolios’ performance. Then, Rohit Ranjan explains it in plain English.
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS, AND FUTURE RESULTS OF THE PORTFOLIOS DISCUSSED HEREIN ARE LIKELY TO DIFFER FROM THEIR PAST PERFORMANCE. ALL PORTFOLIOS INVOLVE RISK AND MAY LOSE MONEY.
It should not be assumed that investors will experience returns in the future, if any, comparable to those shown or that any or all of ChainStreet Capital’s customers experienced such returns. The information shown is historic and should not be taken as any indication of future performance.The returns shown for the tracking portfolio, unless otherwise noted, are net of all fees, commissions and expenses, and include the reinvestment of dividends and interest.
COMPARISONS TO INDEX ETF ARE PROVIDED FOR ILLUSTRATIVE PURPOSES ONLY. AN INDEX IS A BROADLY DIVERSIFIED, UNMANAGED INDEX OF EQUITY SECURITIES, WHICH MAY INCLUDE ONLY LARGE CAPITALIZATION COMPANIES OR COMPANIES OF A CERTAIN SIZE, WHILE THE CHAINSTREET CAITAL PORTFOLIO ARE NOT AS DIVERSIFIED AND OFTEN INCLUDE COMPANIES OF MANY DIFFERENT SIZES. BROAD INDEX ETF ARE SHOWN ONLY AS AN INDICATION OF THE GENERAL PERFORMANCE OF THE EQUITY MARKETS DURING THE PERIODS INDICATED.
The performance data on this site has prepared by ChainStreet Capital and has not been reviewed, compiled or audited by an independent public accountant.
Rohit Ranjan on Performance:
The returns of the ChainStreet Capital portfolio that you see on this site or anywhere else do not exactly mirror the performance of all investors’ accounts. Here is why,
In the case of tracking portfolio, the advertised returns are also the actual, post-commissions-and-fees, pre-tax returns for an around $25K portfolio of my own money (exclusive of my family’s other investments under ChainStreet Capital) which were set up specifically to report performance. Neither additional money is deposited nor is any amount withdrawn from the tracking portfolio. Client’s portfolios and tracking portfolio, both are assessed the same trading cost by broker and both paid the same asset management fee.
Our performance is presented using a simple holding period return, as I believe it’s the most objective. Here is the formula for a holding period return,
Holding Period % Gain = [(End of period value – Start Value)/ Start Value] x 100
I noted down the tracking account value at the start and end of the period to calculate the holding period gain.Any differences between an investor’s account’s performance and the ChainStreet Capital tracking account are mainly due to (a) when that investor actually invests with us, (b) addition or withdrawal of money in investor’s account during the holding period and (c) the number of shares that investor is initially buying of each individual company.
So investors’ returns will not exactly match those presented in our marketing material, particularly in volatile markets. But they should be close enough.
In summary, take all fund performance ads with a grain of salt especially if holding period is not at least 3-5 years. Even with 3-5 years of holding period, the past performance figures are historical snapshot and not a guarantee of future performance but at least more meaningful. First time, I calculated the performance figures for illustration purpose after the first quarter of 2012. I will try to update the performance figures at least once a year to keep it updated.
If you have any questions, please let me know – Rohit@ChainStreet.com
Disclaimer:Rohit Ranjan is the managing partner of ChainStreet Capital, a registered investment adviser. Neither Rohit Ranjan nor ChainStreet Capital provides personalized asset allocation or financial planning to customers. Nothing on this site should be construed as a solicitation or offer, or recommendation, to buy or sell any security, or as an offer by ChainStreet Capital or Rohit Ranjan to provide advisory services.Investment management services are offered only pursuant to a written Investment Advisory Contract, which investors are urged to read and carefully consider in determining whether such agreement is suitable for their individual facts and circumstances