PORTFOLIO RISK AND RETURN STATISTICS...PORTFOLIO RISK AND RETURN STATISTICS At June 30, 2020 For Financial Professional Use Only From January 1, 2014 to June 30, 2020 Return Analysis

Global SERIES Page

Global Income

2

Global Balanced

3

Global Growth

4

CORE SERIES

Core Income

5

Core balanced

6

Core Growth

7

FOCUS SERIES8

Special Opportunities Focus

APPENDIX 9

A diversified mix of Canadian and global securities for investors with an average risk profile who are

seeking to grow their capital while receiving income over the long-term

A diversified mix of Canadian and global securities for investors with a higher than average risk profile

who are seeking to grow their capital while receiving modest income over the long-term

Thematic investment strategies designed to complement traditionally balanced portfolios (i.e.

domestically-biased or benchmark-centric)

A flexible “go anywhere” tactical asset allocation strategy designed to provide long-term growth and

downside protection by investing in a diversified portfolio of non-correlated and opportunistic global

exposures

A diversified mix of Canadian and global securities for investors with a modest risk profile who are

seeking to grow their capital with an emphasis on receiving income over the long-term

Globally macro investment strategies designed to complement traditionally balanced

portfolios (i.e. domestically-biased or benchmark-centric)

A globally diversified mix of securities for investors with a modest risk profile who are seeking to grow

their capital with an emphasis on receiving income over the long-term

A globally diversified mix of securities for investors with an average risk profile who are seeking to grow

their capital while receiving income over the long-term

A globally diversified mix of securities for investors with a higher than average risk profile who are

seeking to aggressively grow their capital while receiving modest income over the long-term

Balanced portfolios designed as a complete solution for the core assets of Canadian investors

PORTFOLIO RISK AND RETURN STATISTICSAt September 30, 2020

For Financial Professional Use Only

From July 1, 2008 to September 30, 2020

Return Analysis

Global

Income² Benchmark¹

Since Inception3 8.17% 6.18%

Last 1 Year 4.02% 8.13%

Last 3 Years3 4.51% 7.13%

Last 5 Years3 5.11% 5.46%

Last 10 Years3 7.24% 6.58%

Average Monthly Return 0.67% 0.52%Max Annual Return 21.73% 15.27%Alpha 2.96% --Beta 0.84 --

Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTDGlobal Income² 7.30% 8.46% 9.86% 4.63% 14.37% 15.43% 2.65% 7.67% 2.35% 7.06% 1.75%Benchmark¹ 2.21% 4.29% 5.01% 10.12% 10.62% 15.13% 0.52% 4.08% 4.91% 6.31% 7.40%Inception Date: June 30, 2008

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

Global Income² 6.64% 3.53% 1.09 1.28 93.82% 52.07% -2.73% 68% 32% 0.79

Benchmark¹ 6.21% 3.74% 0.86 0.70 -- -- -1.56% 66% 34% 1.00

Standard Deviation3

Risk Analysis

¹ Benchmark performances do not include the impact of any fees. The composite benchmark for this portfolio is comprised of the following indices and weights: CAD 90-day Treasury Bill Index (5%), MSCI ACWI Index in $Cdn (25%), and Bloomberg Barclays Global Aggregate Bond Index in $Cdn (70%).² Forstrong performance statistics are calculated from documented actual investment strategies as set by Forstrong’s Investment Committee and applied to its portfolio mandates, and are intended to provide an approximation of composite results for client separately-managed accounts. Actual performance of individual separate accounts may vary with average gross “composite” performance statistics presented here due to client-specific portfolio differences with respect to size, inflow/outflow history and inception dates, as well as intra-day market volatilities versus daily closing prices. Performance figures are presented in Canadian dollar terms and net of total ETF expense ratios and custody fees, but before transaction costs, withholding taxes, and other investment management and advisor fees. Past investment results provide no indication of future performance. ³ Annualized figure presented.4 Risk and return metric definitions are available in the Appendix.

Downside Deviation3

Sharpe Ratio3 Sortino Ratio3

Drawdown (Months)

0%25%50%75%

100%125%150%175%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD

Cumulative Performance

Global Income² Benchmark¹

-12%

-9%

-6%

-3%

0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Benchmark¹ Global Income²

0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5% 6% 7%

Ret

urn

3

Standard Deviation3


0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5%

Ret

urn

3

Downside Deviation3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3


0%

2%

4%

6%

8%

10%

0.0 0.5 1.0 1.5

Ret

urn

3

Sortino Ratio3


GLOBAL INCOME

2


Return Analysis

Global

Balanced² Benchmark¹


Last 1 Year 7.93% 9.31%

Last 3 Years3 6.02% 7.99%

Last 5 Years3 6.53% 7.12%

Last 10 Years3 7.83% 8.29%

Average Monthly Return 0.61% 0.52%Max Annual Return 24.69% 18.40%

Alpha 1.47% --Beta 0.94 --

Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTDGlobal Balanced² 7.77% 1.82% 9.70% 9.80% 14.04% 14.96% 1.57% 11.82% -0.28% 11.04% 3.70%Benchmark¹ 3.58% 1.05% 7.90% 17.36% 11.57% 15.45% 1.99% 7.89% 2.72% 10.97% 6.39%Inception Date: June 30, 2003

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

Global Balanced² 7.12% 4.56% 0.81 0.78 101.70% 86.64% -11.21% 65% 35% 0.88Benchmark¹ 6.68% 4.31% 0.70 0.57 -- -- -9.52% 63% 37% 1.00

Standard Deviation3

Risk Analysis


Downside Deviation3


Drawdown (Months)

0%

50%

100%

150%

200%

250%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD


Global Balanced² Benchmark¹

-18%

-14%

-10%

-6%

-2%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Benchmark¹ Global Balanced²

0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5% 6% 7% 8%

Ret

urn

3

Standard Deviation3


0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5%

Ret

urn

3

Downside Deviation3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sortino Ratio3


GLOBAL BALANCED

3


Return Analysis

Global

Growth² Benchmark¹


Last 1 Year 7.47% 10.38%

Last 3 Years3 6.27% 8.80%

Last 5 Years3 7.68% 8.96%

Last 10 Years3 8.94% 10.18%


Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTDGlobal Growth² 10.27% -1.04% 11.56% 15.43% 13.64% 14.77% 2.73% 15.71% -2.39% 15.48% 1.63%Benchmark¹ 5.35% -2.86% 11.35% 26.00% 12.72% 15.65% 3.66% 12.61% 0.00% 16.66% 4.87%Inception Date: June 30, 2003

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

Global Growth² 8.95% 6.07% 0.75 0.74 95.93% 86.75% -22.16% 65% 35% 0.93

Benchmark¹ 9.09% 6.39% 0.66 0.59 -- -- -24.76% 64% 36% 1.00

GLOBAL GROWTH

Standard Deviation3

Risk Analysis


Downside Deviation3


Drawdown (Months)

0%

50%

100%

150%

200%

250%

300%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD


Global Growth² Benchmark¹

-35%

-25%

-15%

-5%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Benchmark¹ Global Growth²

0%

2%

4%

6%

8%

10%

0% 2% 4% 6% 8% 10% 12%

Ret

urn

3

Standard Deviation3


0%

2%

4%

6%

8%

10%

0% 2% 4% 6%

Ret

urn

3

Downside Deviation3


4%

5%

6%

7%

8%

9%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3


4%

5%

6%

7%

8%

9%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sortino Ratio3


4


Return Analysis

Core

Income² Benchmark¹


Last 1 Year 3.24% 6.81%

Last 3 Years3 4.12% 6.41%

Last 5 Years3 4.63% 5.25%

Last 10 Years3 6.24% 5.74%


Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD

Core Income² 8.21% 8.56% 9.34% 3.12% 12.47% 8.33% 3.72% 6.66% 0.18% 8.62% 1.44%Benchmark¹ 4.94% 4.67% 4.85% 7.11% 9.62% 7.59% 3.37% 4.11% 1.85% 8.41% 6.34%Inception Date: June 30, 2008

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

Core Income² 5.66% 3.61% 1.03 0.87 106.87% 83.53% -3.50% 71% 29% 0.84

Benchmark¹ 4.58% 2.86% 1.01 0.67 -- -- -0.53% 69% 31% 1.00

Standard Deviation3

Risk Analysis

¹ Benchmark performance does not include the impact of any fees. The composite benchmark for this portfolio is comprised of the following indices and weights: CAD 90-day Treasury Bill Index (5%), MSCI ACWI Index in $Cdn (12.5%), S&P/TSX Composite Index (12.5%), Bloomberg Barclays Global Aggregate Bond Index in $Cdn (35%), and FTSE Canada Universe Bond Index (35%).² Forstrong performance statistics are calculated from documented actual investment strategies as set by Forstrong’s Investment Committee and applied to its portfolio mandates, and are intended to provide an approximation of composite results for client separately-managed accounts. Actual performance of individual separate accounts may vary with average gross “composite” performance statistics presented here due to client-specific portfolio differences with respect to size, inflow/outflow history and inception dates, as well as intra-day market volatilities versus daily closing prices. Performance figures are presented in Canadian dollar terms and net of total ETF expense ratios and custody fees, but before transaction costs, withholding taxes, and other investment management and advisor fees. Past investment results provide no indication of future performance. ³ Annualized figure presented.

Downside Deviation3


Drawdown (Months)

0%

25%

50%

75%

100%

125%

150%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD


Core Income² Benchmark¹

-10%

-8%

-6%

-4%

-2%

0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

Benchmark¹ Core Income²

0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5% 6% 7% 8%

Ret

urn

3

Standard Deviation3


0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4%

Ret

urn

3

Downside Deviation3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0

Ret

urn

3

Sortino Ratio3


CORE INCOME

5


Return Analysis

Core

Balanced² Benchmark¹


Last 1 Year 5.81% 6.57%

Last 3 Years3 5.23% 6.64%

Last 5 Years3 6.01% 6.48%

Last 10 Years3 6.54% 6.75%


Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTDCore Balanced² 9.80% 0.59% 8.38% 6.42% 13.66% 7.41% 5.00% 9.63% -2.15% 12.42% 2.39%Benchmark¹ 6.42% 0.30% 7.01% 12.41% 10.14% 6.16% 6.45% 6.83% 0.53% 12.74% 4.51%Inception Date: June 30, 2003

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

Core Balanced² 6.70% 4.43% 0.84 0.77 106.97% 88.79% -14.26% 68% 32% 0.89

Benchmark¹ 5.88% 4.15% 0.72 0.50 -- -- -13.31% 67% 33% 1.00

Standard Deviation3

Risk Analysis

¹ Benchmark performances do not include the impact of any fees. The composite benchmark for this portfolio is comprised of the following indices and weights: CAD 90-day Treasury Bill Index (5%), MSCI ACWI Index in $Cdn (25%), S&P/TSX Composite Index (25%), Bloomberg Barclays Global Aggregate Bond Index in $Cdn (22.5%), and FTSE Canada Universe Bond Index (22.5%). 2 Forstrong performance statistics are calculated from documented actual investment strategies as set by Forstrong’s Investment Committee and applied to its portfolio mandates, and are intended to provide an approximation of composite results for client separately-managed accounts. Actual performance of individual separate accounts may vary with average gross “composite” performance statistics presented here due to client-specific portfolio differences with respect to size, inflow/outflow history and inception dates, as well as intra-day market volatilities versus daily closing prices. Performance figures are presented in Canadian dollar terms and net of total ETF expense ratios and custody fees, but before transaction costs, withholding taxes, and other investment management and advisor fees. Past investment results provide no indication of future performance. 3 Annualized figure presented.4 Risk and return metric definitions are available in the Appendix.

Downside Deviation3

Sharpe Ratio3Sortino Ratio3

Drawdown (Months)

0%

50%

100%

150%

200%

250%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 1905 YTD


Core Balanced² Benchmark¹

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

-18%

-14%

-10%

-6%

-2%

Benchmark¹ Core Balanced²

0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5% 6% 7% 8%

Ret

urn

3

Standard Deviation3


0%

2%

4%

6%

8%

10%

0% 1% 2% 3% 4% 5% 6%

Ret

urn

3

Downside Deviation3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3


0%

2%

4%

6%

8%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sortino Ratio3


CORE BALANCED

6


Return Analysis

Core

Growth² Benchmark¹


Last 1 Year 4.23% 5.93%

Last 3 Years3 4.95% 6.73%

Last 5 Years3 6.71% 7.82%

Last 10 Years3 7.21% 7.90%


Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTDCore Growth² 11.43% -2.66% 10.09% 11.55% 13.30% 5.88% 7.09% 12.66% -4.31% 16.05% -0.27%Benchmark¹ 8.09% -4.46% 9.47% 19.44% 10.77% 4.36% 10.19% 10.18% -3.44% 18.02% 2.02%Inception Date: June 30, 2003

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

Core Growth² 8.77% 6.09% 0.73 0.69 94.57% 81.97% -23.83% 68% 32% 0.94

Benchmark¹ 8.87% 6.58% 0.61 0.49 -- -- -26.41% 66% 34% 1.00

Standard Deviation3

Risk Analysis

¹ Benchmark performances do not include the impact of any fees. The composite benchmark for this portfolio is comprised of the following indices and weights: CAD 90-day Treasury Bill Index (5%), MSCI ACWI Index in $Cdn (40%), S&P/TSX Composite Index (40%), Bloomberg Barclays Global Aggregate Bond Index in $Cdn (7.5%), and FTSE TMX Canada Universe Bond Index (7.5%).2 Forstrong performance statistics are calculated from documented actual investment strategies as set by Forstrong’s Investment Committee and applied to its portfolio mandates, and are intended to provide an approximation of composite results for client separately-managed accounts. Actual performance of individual separate accounts may vary with average gross “composite” performance statistics presented here due to client-specific portfolio differences with respect to size, inflow/outflow history and inception dates, as well as intra-day market volatilities versus daily closing prices. Performance figures are presented in Canadian dollar terms and net of total ETF expense ratios and custody fees, but before transaction costs, withholding taxes, and other investment management and advisor fees. Past investment results provide no indication of future performance. 3 Annualized figure presented.

Downside Deviation3


Drawdown (Months)

0%

50%

100%

150%

200%

250%

300%

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTD


Core Growth² Benchmark¹

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

-35%

-25%

-15%

-5%

Benchmark¹ Core Growth²

0%

2%

4%

6%

8%

10%

9% 9% 9% 9% 9% 10% 10% 10%

Ret

urn

3

Standard Deviation3


0%

2%

4%

6%

8%

10%

0% 2% 4% 6% 8%

Ret

urn

3

Downside Deviation3


5%

6%

7%

8%

9%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3


5%

6%

7%

8%

9%

10%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sortino Ratio3


CORE GROWTH

7

From January 1, 2014 to September 30, 2020

Return Analysis SOF² Benchmark¹


Last 1 Year 3.68% 9.06%

Last 3 Years3 2.83% 7.87%

Last 5 Years3 4.45% 6.93%

Last 10 Years3 N/A N/A

Average Monthly Return 0.57% 0.68%Max Annual Return 24.70% 17.26%Alpha -3.39% --Beta 1.21 --

Calendar Year Returns 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 YTDSOF² N/A N/A N/A N/A 15.21% 10.92% -0.99% 15.92% -3.56% 10.36% -1.78%Benchmark¹ N/A N/A N/A N/A 11.28% 15.42% 1.84% 7.50% 2.95% 10.50% 6.37%Inception Date: December 31, 2013

Standard

Deviation3

Downside

Deviation3

Sharpe

Ratio3

Sortino

Ratio3

Upside

Capture

Downside

Capture

Max Annual

Drawdown

Winning

Months

Losing

MonthsCorrelation

SOF² 9.78% 6.84% 0.61 0.47 108.67% 144.92% -13.29% 65% 35% 0.83

Benchmark¹ 6.68% 3.71% 1.08 1.22 -- -- 0.65% 72% 28% 1.00

Standard Deviation3

Risk Analysis

¹ Benchmark performances do not include the impact of any fees. The composite benchmark for this portfolio is comprised of the following indices and weights: CAD 90-day Treasury Bill Index (5%), MSCI ACWI Index in $Cdn (47.5%), and Bloomberg Barclays Global Aggregate Bond Index in $Cdn (47.5%).² Forstrong performance statistics are calculated from documented actual investment strategies as set by Forstrong’s Investment Committee and applied to its portfolio mandates, and are intended to provide an approximation of composite results for client separately-managed accounts. Actual performance of individual separate accounts may vary with average gross “composite” performance statistics presented here due to client-specific portfolio differences with respect to size, inflow/outflow history and inception dates, as well as intra-day market volatilities versus daily closing prices. Performance figures are presented in Canadian dollar terms and net of total ETF expense ratios and custody fees, but before transaction costs, withholding taxes, and other investment management and advisor fees. Past investment results provide no indication of future performance. ³ Annualized figure presented.4 Risk and return metric definitions are available in the Appendix.

Downside Deviation3


Drawdown (Months)

0%

25%

50%

75%

2014 2015 2016 2017 2018 2019 YTD


SOF² Benchmark¹

-18%-16%-14%-12%-10%

-8%-6%-4%-2%0%

2014 2015 2016 2017 2018 2019 2020

Benchmark¹ SOF²

0%

2%

4%

6%

8%

10%

12%

4% 5% 6% 7% 8% 9% 10% 11% 12%

Ret

urn

3

Standard Deviation3

SOF² Benchmark¹

0%

2%

4%

6%

8%

10%

12%

0% 1% 2% 3% 4% 5% 6% 7% 8% 9%

Ret

urn

3

Downside Deviation3

SOF² Benchmark¹

0%

2%

4%

6%

8%

10%

12%

0.0 0.2 0.4 0.6 0.8 1.0 1.2

Ret

urn

3

Sharpe Ratio3

SOF² Benchmark¹

0%

2%

4%

6%

8%

10%

12%

0.0 0.2 0.4 0.6 0.8 1.0 1.2 1.4

Ret

urn

3

Sortino Ratio3

SOF² Benchmark¹

SPECIAL OPPORTUNITIES FOCUS

8

Definitions of Metrics in Report

Alpha - A measure of risk-adjusted return which evaluates the active manager's performance in excess of the benchmark,

scaled for Beta (defined below).

Beta - A measure of risk which evaluates the sensitivity of portfolio returns to movements in the benchmark.

Correlation - A measure of the degree to which portfolio returns and benchmark returns move in relation to one another.

Downside Deviation - A measure of risk which evaluates the average deviations of a return series exclusively for months

in which returns fall below the Minimum Acceptable Return (defined below).

Drawdown (Months) - A chronological display of all cumulative peak-to-trough portfolio and benchmark losses within

the presented period.

Max Annual Return/Drawdown - A measure of the highest (lowest) cumulative returns over a period of 12 consecutive

months.

Minimum Acceptable Return (MAR) - The lowest return a figurative "average investor" would tolerate in his/her portfolio.

We define as the Canadian Consumer Price Index (CPI) + 2% per annum.

Sharpe Ratio - A measure of risk-adjusted return which evaluates the active manager's performance in excess of the RiskFree Rate (defined below) per unit of volatility as measured by Standard Deviation (defined below).

Sortino Ratio - A measure of risk-adjusted return which evaluates the active manager's performance in excess of the

Minimum Acceptable Return (defined above) per unit of volatility as measured by Downside Deviation (defined above).

Standard Deviation - A measure of risk which evaluates the average deviations of a return series from its mean.

Risk Free Rate - The theoretical rate of return of an investment with no risk of financial loss. We define as the 90 day

Canadian treasury bill rate.

Upside/Downside Capture Ratio - A measure of how well (poorly) an active manager performed relative to the benchmark,

when the benchmark is up (down).

Winning/Losing Months - The percentage of months with returns above (below) zero within the presented period.

Appendix

9

Documents

PORTFOLIO RISK AND RETURN STATISTICS...PORTFOLIO RISK AND RETURN STATISTICS At June 30, 2020 For Financial Professional Use Only From January 1, 2014 to June 30, 2020 Return Analysis