We strive to produce results that will:
- Limit your downside risk to 4%-5%* (even in a bad month or quarter)
- Target an average annual total return of 6%-8%*, after fees, on average through a market cycle
|Average Annualized Returns Versus Goals|
|Sierra Conservative Allocation Program||6%-8%||7.05%||12/31/94 – 3/31/18|
|Sierra Customized Accounts||6%-8%||7.39%||12/31/94 – 3/31/18|
|Sierra High Yield Corporate Bond Program||6%-8%||7.08%||12/31/98 – 3/31/18|
|Sierra CA Municipal Bond Program||6%||2.80%||6/30/14 – 3/31/18|
|Sierra Municipal Bond Program||6%||3.18%||6/30/14 – 3/31/18|
|Sierra Strategic Income Program||6%-8%||3.25%||12/31/11 – 3/31/18|
|Sierra Tactical Bond Program||N/A||10.73%†||12/31/88 – 3/31/18|
Effective June 30, 2017 the benchmark for the Sierra Conservative Allocation Program and the Sierra Customized Accounts has changed to the Morningstar Allocation – 15% to 30% Equity category, which is comprised of portfolios which seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 15% and 30%.
Effective September 30, 2017 the benchmark for the Sierra California Municipal Bond Program and the Sierra Municipal Bond Program has changed to the Bloomberg Barclays Municipal Bond Index, which is an unmanaged index that is considered representative of the broad market for investment grade, tax-exempt bonds with a maturity of at least one year.
Effective September 30, 2017 the primary benchmark for the Sierra High Yield Corporate Bond Program has changed to the ICE Bank of America Merrill Lynch U.S. High Yield Master II Index, which tracks the performance of U.S. dollar denominated below investment grade corporate debt publicly issued in the U.S. domestic market. The secondary benchmark is the Bloomberg Barclays U.S. Aggregate Bond Index, which is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated fixed-rate taxable bond market.
The benchmark for the Sierra Strategic Income Program and Sierra Tactical Bond Program is the Bloomberg Barclays U.S. Aggregate Bond Index, which is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market.
†Backtesting, and related cautions:
Please note the following cautions related to the Sierra Tactical Bond Program (based on SEC requirements): (a) backtested data does not represent actual account performance and should not be interpreted as an indication of such performance; (b) there is no assurance that the backtested result could, or would have, been achieved during the years presented; and (c) the backtested portion of the performance data does not represent the impact that material economic and market factors might have on an investment manager’s decision-making if the manager were actually managing client money. In addition, the SEC mandates that we state: The investment strategy that the backtested data were based upon can (theoretically) be changed at any time without the benefit of hindsight in order to show better backtested performance, and (theoretically) the strategy can continue to be tested and adjusted until the desired results are achieved. Please note that at an affiliate of Ocean Park we have actually implemented the same Buy and Sell signals for High Yield Corporate Bond funds in client accounts since 1987, and no such “data fitting” adjustments have in fact been made in the data presented here.
The performance quoted herein represents past performance. Past performance does not guarantee future results.