| Protected
Index Program® Disclaimer |
This
track record is derived from the actual returns of the largest accounts
using the Russell 2000 (IWM) and reflects the return of over 25% of
the assets invested in the Protected Index Program (PIP) using the IWM.
Multiple accounts are included in the track record to reflect the fact
that any one account may have a slightly different put or call strike
(or both) on any given month due to market conditions when the accounts
were invested. PIP returns are inclusive of all costs. This return represents
the average return achieved by amounts invested in the Russell 2000
Protected Index Program over the time frame indicated. The return is
based on cash invested and uses no leverage or borrowed funds. All accounts
included in this track record are managed by PTI.
Returns in the composite do not include the reinvestment of dividends, interest and cash generated from covered calls writing, and if all accounts did include reinvestments, this would slightly increase the performance. The investment performance of any individual portfolio may have been better or worse over this period than the results shown herein. By presenting the composite performance, no representation is made that any particular portfolio or group of portfolios had precisely this performance. Past performance is no guarantee of future results. |