Hines Investments
Hines Investments
Performance results set out in this document are based on composite of CIBC Wood Gundy Advisor Managed Accounts (“AMA”) with more than $75,000 invested in a specified investment strategy managed by the AMA Portfolio Manager.
Composite inception date is based after the second month the first AMA account opened in the strategy. The subsequent AMA accounts in the strategy are included after second month following their inception. Also included in the composite are closed AMA accounts that held in the strategy, up to the last full month the strategy was held.
Composite performance returns are geometrically linked and calculated by weighting each AMA account’s monthly performance, including changes in securities values, and accrued income (i.e. dividend and interest), against its market value at the beginning of each month, as represented by the market value at the opening of the first business day of each month. Performance results are expressed in stated strategy’s base currency and are calculated based on gross of fees. Individual account performance results for clients of AMA invested in the Strategy may also materially differ from the performance results set out in this document, which are based on the Composite, due to the factors described above, and other factors such as an account’s size, the length of time the Strategy has been held, cash flows in and out of the individual AMA client account, trade execution timing, market conditions and movements, trading prices, foreign exchange rates, specific client constraints against purchasing securities of related and connected issuers to CIBC Wood Gundy.
Performance returns are gross of AMA investment management fees, and other expenses, if any. Each individual account’s performance returns will be reduced by these fees and expenses.
Past performance may not be repeated and is not indicative of future results. This document is prepared for informational purposes only and is subject to change without notice.
This document is not to be construed as an offer to sell, or solicitation for, or an offer to buy any AMA strategy or other securities. Consideration of individual circumstances and current events is critical to sound investment planning. All investments carry a certain degree of risk. It is important to review objectives, risk tolerance, liquidity needs, tax consequences and any other considerations before choosing an AMA strategy.
Performance results set out in this document are based on composite of CIBC Wood Gundy Advisor Managed Accounts (“AMA”) with more than $75,000 invested in a specified investment strategy managed by the AMA Portfolio Manager.
Composite inception date is based after the second month the first AMA account opened in the strategy. The subsequent AMA accounts in the strategy are included after second month following their inception. Also included in the composite are closed AMA accounts that held in the strategy, up to the last full month the strategy was held.
Composite performance returns are geometrically linked and calculated by weighting each AMA account’s monthly performance, including changes in securities values, and accrued income (i.e. dividend and interest), against its market value at the beginning of each month, as represented by the market value at the opening of the first business day of each month. Performance results are expressed in stated strategy’s base currency and are calculated based on gross of fees. Individual account performance results for clients of AMA invested in the Strategy may also materially differ from the performance results set out in this document, which are based on the Composite, due to the factors described above, and other factors such as an account’s size, the length of time the Strategy has been held, cash flows in and out of the individual AMA client account, trade execution timing, market conditions and movements, trading prices, foreign exchange rates, specific client constraints against purchasing securities of related and connected issuers to CIBC Wood Gundy.
Performance returns are gross of AMA investment management fees, and other expenses, if any. Each individual account’s performance returns will be reduced by these fees and expenses.
Past performance may not be repeated and is not indicative of future results. This document is prepared for informational purposes only and is subject to change without notice.
