Sentences with phrase «market over a full market cycle»

The fund's goal is to beat the market over a full market cycle, as the benefits of losing less in bad times outweigh the underperformance in a bull market.

Not exact matches

These risks and uncertainties include: Gilead's ability to achieve its anticipated full year 2018 financial results; Gilead's ability to sustain growth in revenues for its antiviral and other programs; the risk that private and public payers may be reluctant to provide, or continue to provide, coverage or reimbursement for new products, including Vosevi, Yescarta, Epclusa, Harvoni, Genvoya, Odefsey, Descovy, Biktarvy and Vemlidy ®; austerity measures in European countries that may increase the amount of discount required on Gilead's products; an increase in discounts, chargebacks and rebates due to ongoing contracts and future negotiations with commercial and government payers; a larger than anticipated shift in payer mix to more highly discounted payer segments and geographic regions and decreases in treatment duration; availability of funding for state AIDS Drug Assistance Programs (ADAPs); continued fluctuations in ADAP purchases driven by federal and state grant cycles which may not mirror patient demand and may cause fluctuations in Gilead's earnings; market share and price erosion caused by the introduction of generic versions of Viread and Truvada, an uncertain global macroeconomic environment; and potential amendments to the Affordable Care Act or other government action that could have the effect of lowering prices or reducing the number of insured patients; the possibility of unfavorable results from clinical trials involving investigational compounds; Gilead's ability to initiate clinical trials in its currently anticipated timeframes; the levels of inventory held by wholesalers and retailers which may cause fluctuations in Gilead's earnings; Kite's ability to develop and commercialize cell therapies utilizing the zinc finger nuclease technology platform and realize the benefits of the Sangamo partnership; Gilead's ability to submit new drug applications for new product candidates in the timelines currently anticipated; Gilead's ability to receive regulatory approvals in a timely manner or at all, for new and current products, including Biktarvy; Gilead's ability to successfully commercialize its products, including Biktarvy; the risk that physicians and patients may not see advantages of these products over other therapies and may therefore be reluctant to prescribe the products; Gilead's ability to successfully develop its hematology / oncology and inflammation / respiratory programs; safety and efficacy data from clinical studies may not warrant further development of Gilead's product candidates, including GS - 9620 and Yescarta in combination with Pfizer's utomilumab; Gilead's ability to pay dividends or complete its share repurchase program due to changes in its stock price, corporate or other market conditions; fluctuations in the foreign exchange rate of the U.S. dollar that may cause an unfavorable foreign currency exchange impact on Gilead's future revenues and pre-tax earnings; and other risks identified from time to time in Gilead's reports filed with the U.S. Securities and Exchange Commission (the SEC).

We'll confidently pursue our investment discipline in any event, in the full expectation that far better conditions will emerge to embrace market exposure over the completion of this cycle, as they always have in market cycles across history.

Strategic Growth is a risk - managed growth fund that is intended to accept exposure to U.S. stocks over the full market cycle, but with smaller periodic losses than a passive buy - and - hold approach.

If current levels were to turn out, in hindsight, to be the final lows of this decline, I suspect that the overall return over the next cycle (by the time we do observe a full 20 % loss) will be as tame as we've seen since the bull market started in 2003.

Historically - reliable valuation measures are remarkably useful in projecting long - term and full - cycle market outcomes, but the behavior of the market over shorter segments of the market cycle is driven by the psychological inclination of investors toward speculation or risk - aversion.

But understand that even when valuations don't «work» over shorter segments of the market cycle, the longer - term and full - cycle outcomes of hypervaluation are predictably brutal.

The only true test of a money manager's ability is if he can obtain above - average results over a full cycle that includes both bull and bear markets.

Over the long - term, we expect our relative performance to be an increment over-and-above the absolute performance of the markets we invest in (though this is certainly not true over periods shorter than a full market cycOver the long - term, we expect our relative performance to be an increment over-and-above the absolute performance of the markets we invest in (though this is certainly not true over periods shorter than a full market cycover-and-above the absolute performance of the markets we invest in (though this is certainly not true over periods shorter than a full market cycover periods shorter than a full market cycle).

If you combine the two, it happens that the average full market cycle is 5 years in duration, and generates an average total return of about 10.9 % over the entire cycle.

While that's not generally true over the short - term for investment management, it still tends to be true over the full market cycle.

Over the full cycle, the market recognizes reasonably - valued stocks that throw off a reliable stream of cash to shareholders (especially those that exhibit enough investor sponsorship so that future cash flows aren't called into question on the basis of others» information).

At MFS ®, we believe a flexible, adaptable approach that includes exposure to a wide range of bond sectors is one key to generating attractive risk - adjusted returns and managing risk over full market cycles.

While past returns do not ensure future results, our objective is to substantially outperform a buy - and - hold approach over the full market cycle, with smaller periodic losses, on average.

SYG is an active fund that uses fundamental and quantitative models to screen for growth - oriented stocks, with the aim of beating the Russell 1000 Growth Index over a full market cycle.

While long - term and full - cycle market outcomes are tightly determined by market valuations, the effect of valuations on outcomes over shorter segments of the market cycle depends on the psychological preference of investors toward speculation or risk aversion.

We don't know whether the current instance will have consequences similar to the 1929, 1972, 1987, 2000 and 2007 ones, but suffice it to say that these conditions were more notable for their outcomes over the completion of the full market cycle than they were for their immediate outcomes.

However, over a full market cycle, each of the factors mentioned above has proven to be additive to portfolio returns.

While most active managers will state that their objective is to outperform over a full market cycle, they need to be more emphatic with asset owners up front about how much time that really entails and why they need it, especially if they state they have a long - term philosophy.

If a portfolio loads market risk when the likely return / risk profile is favorable, and hedges market risk when the likely return / risk profile is unfavorable, it's possible to achieve a very satisfactory return / risk profile over the full market cycle without ever making a specific short - term forecast.

Getting out of this trap starts with the clarity I've outlined — clarity around full market cycles, around investor time tolerance and around the need to evaluate performance over longer time periods.

The Fund will attempt to produce a total return in excess of the return of the S&P 500 Index, and secondarily, the Russell 1000 Value Index over a full market cycle.

The central message of our discipline is that valuations are enormously informative about prospects for long - term and full - cycle returns, but that outcomes over shorter segments of the market cycle are driven by changes in the psychological preferences of investors toward speculation or risk - aversion.

For those casting about for tummy - calming options, we screened for funds that had been around for a full market cycle, then looked at funds which have the shortest recovery times and, separately, the lowest Ulcer Indexes over the current market cycle.

Over the full market cycle, ARTQX modestly leads its peer group in performance (40 bps / year) with subdued volatility.

Their goal is «positive total returns over a full market cycle.»

Over the course of a full market cycle however, valuations are ultimately what matter.

These strategies are intended as long - term strategies as their full potential benefits have tended to be realized over a full market cycle.

The Firm seeks to invest in high - quality businesses at low valuations, with the goal of generating outperformance over a full market cycle while managing the level of risk.

The Fund seeks to generate equity - like rates of return over a full market cycle while managing the level of risk.

Seeks to generate strong relative returns over a full market cycle by investing in companies with strong and / or improving financial productivity at attractive valuations.

Seeks to outperform the S&P 500 Index with less volatility (standard deviation) over a full market cycle by investing in companies that compound earnings and capital and by taking advantage of valuation anomalies.

They usually exist because financing is too cheap relative to what financing costs on average over a full market cycle.

«People chase performance, so even if the product performs well over a full market cycle, investors may not have the conviction to stay with them,» says Kaplan.

Seeks to deliver long - term growth of capital over a full market cycle and dividend income greater than the S&P 500 ® Index, with the potential for less volatility than the U.S. stock market

John Ackerly, one of Davenport's directors, claims they have «a long history of developing funds that manage downside risk and produce positive returns... over full market cycles.»

Strategy Objective: Launched in July 1997, the DRS is an actively managed, hedged - equity, rules - based process that is designed to hedge against large stock market declines and provide stable returns over a full market cycle.

It has consistently outperformed the S&P 500 over full market cycles since its inception.

Using Charles's fund data screener at MFO Premium, I searched among the funds that predominately invest in U.S. equities for those with the highest risk - adjusted returns over the full market cycle.

Over the course of the full market cycle, including the 2007 - 09 crash, Crescent is up 64 % to the 500's gain of 58 %.

I searched for the small cap funds with the best risk - adjusted performance over the latest full market cycle.

We think it's more useful to assess how a manager has performed over a full market cycle; that is, in good time and bad.

Since inception, Defined Risk Strategy Select Composite SMA has consistently outperformed the S&P 500 over full market cycles.

In addition, the Fund aims to provide an overall return of 2 - 3 per cent above the London Interbank Offered Rate (LIBOR) 90 Day (GBP) over a full market cycle (being 3 - 5 years) after management fees are deducted.

Since then, our innovative approach has provided the opportunity for growth, while reducing our clients» downside exposure — helping our strategy consistently outperform both the S&P 500 Index and the traditional 60/40 portfolio over full market cycles since its inception.

«Long - term» means over a full market cycle spanning 5 - 10 years that includes a recession, a recovery and a peak in both general economic and market conditions.

The Strategy is designed to provide stable returns over a full market cycle while always seeking to limit the impact of large stock market declines, and we've been doing just that since 1997.

The Quantitative Rating is an extension of the Morningstar Analyst Rating for funds, which provides an analyst's forward - looking assessment of a fund's ability to outperform its peer group or a relevant benchmark on a risk - adjusted basis over a full market cycle.

The firms will be evaluated on their performance, after fees, against the portfolio benchmark (Barclays Capital US Aggregate Bond Index) over a full market cycle of highs and lows at an acceptable level of risk.

But the reward for patience and discipline can be substantial because, as we've seen time and time again, value stocks tend to outperform over long - term, full market cycles.