Performance and risk figures

3 Months 12 Months Since Inception
Return
CAGR
Volatility (ann.)
DrawDown
Sharpe (3%)

Explanatory notes and definitions

Performance table
CAGR = Annualised return (compound annual growth rate)
Volatility (ann.) = Annualised standard deviation
DrawDown = Max. drawdown (peak-to-trough decline)
Sharpe (rf 0%) = Sharpe Ratio

Annual performance
Annual performance figures of EPP strategy vs. the MSCI All Country World Index (ACWI ETF).
2005 represents 9 months from 1 April (begin of backtesting period) to 31 December only.

All calculations are based on daily data.

Backtesting
Data presented from 1 April 2005 through to 30 June 2015 is is backtested. Backtested performance is not actual performance, but is hypothetical. The back-test calculations are based on the same investment process and models used for the live Enhanced Permanent Portfolio Strategy. The backtest period does not necessarily correspond to the entire available history. Another limitation of using backtested information is that the calculations are generally prepared with the benefit of hindsight. No hypothetical record can completely account for the impact of financial risk in actual trading. For example, there are numerous factors related to equities (e.g. dividends and withholding taxes) and fixed income markets in general which cannot be, and have not been accounted for, all of which can affect actual performance. The backtested returns presented have been adjusted by 4% per annum to account for fees and trading costs.