Leeb Capital Management Investment Adviser Performance:
Leeb Capital Management Investment Adviser (“LCM”) claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared this report in compliance with the GIPS Standards. LCM has been independently verified from 4/1/99 - 12/31/22Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Large-Cap Growth The verification reports are available upon request. Verification does not ensure the accuracy of any specific GIPS report.
A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification ensures whether the firm’s policies and procedures related to composite and pooled fund maintenance and the calculation, presentation, and distribution of performance have been designed in compliance with the GIPS standards implemented on a firm-wide basis. Verification does not assure the accuracy of any specific performance report.
Past performance is not indicative of future returns.
For more information on performance as well as additional disclosures, contact:
Scott Chan: schan@leeb.com
Leeb Capital Management (“LCM”) is an SEC-Registered Investment Advisory Firm. Before 2001, the firm conducted business as Money Growth Institute. Leeb Capital Management provides equity money management to retail and institutional investors. LCM’s Large Cap Growth Composite Records represent all fee-paying accounts with assets greater than $250,000 that are managed following our Large Cap Growth (“LCG”) investment strategy. This strategy invests in equities managed with a view toward growth, capital appreciation, and preservation of capital. The two central tenets of LCM’s Growth investment strategy include the selection of stocks within sectors whose projected growth is higher relative to that of the market and those stocks that are more cheaply valued than the market on a PEG basis.
The Composite was created on March 31, 1999, coinciding with this strategy's inception. A complete list of composite descriptions is available upon request. From April 1, 1999, through September 30, 2007, LCM was verified by Ashland Partners and Company LLP. For the periods from October 1, 2007, through December 31, 2016, LCM was verified by ACA Performance Services, LLC. From 2017 through 2022, LCM was confirmed by The Spaulding Group. A copy of the verification report and additional information regarding the firm’s policies and procedures for valuing portfolios, calculating and reporting performance results, and preparing GIPS reports are available upon request.
The composite returns are compared to the S&P 500 and the Russell 1000 Growth Indices, the volatility and holdings of which may differ from that of the composite. The S&P 500 Index is widely regarded as the best single gauge of the U.S. equities market; this index includes a representative sample of 500 leading companies in leading industries of the U.S. economy. Institutional investors widely use the Russell 1000 Growth Index to gauge the U.S. large-cap growth equity market.
Valuations are computed and performance is reported in U.S. dollars.
Since September 30, 2007, the composite gross total returns have been presented as gross fees (net of only transaction costs), including reinvestment of dividends and income when applicable. Certain accounts paid a bundled fee between July 1, 2002, and September 30, 2007. For these accounts, the gross return was reduced by the bundled fee (see Note #6). Therefore, for this period, the gross returns presented are hybrid returns consisting of gross-of-fees and pure-gross returns, which are shown as supplemental information. Net return reduces the gross return by investment advisory fees. It was calculated using the highest management fee (1.5%) charged to clients per LCM’s Growth strategy fee schedule stated below. Our firm's advisory fee schedule for Retail Growth Accounts: Up to $500,000, 1.5% flat fee based on AUM; Over $500,000, 1.0% flat fee based on AUM. In addition, between July 1, 2002, and September 30, 2007, the net return for certain accounts was further reduced by a bundled fee (See Note #6).
Between July 1, 2002, and September 30, 2007, some Large Cap Growth composite accounts paid an all-inclusive fee based on a percentage of assets under management. The entire bundled fee has reduced gross and net performance for these accounts. Other than brokerage commissions, this fee includes portfolio monitoring and consulting services (none of which are paid to LCM). The composite has been redefined as of September 30, 2007, to exclude these bundled fee accounts. The percentage of composite assets bundled fee accounts from 2002-2006 were 14%, 17%, 7%, 7%, and 6%.
Annual rates of return for the portfolio are computed by compounding the monthly rates of return over the applicable number of months.
LCM utilizes neither leverage nor derivative investments as a material component of its investment strategies.
From composite inception through December 31, 2017, composite dispersion was calculated using the asset-weighted standard deviation of all portfolios included in the composite for the entire year. From January 1, 2018, through December 31, 2022, composite dispersion is calculated using the equally weighted standard deviation of all portfolios included in the composite for the entire year. Distribution is calculated as gross of fees.
LCM defines a significant cash flow as an external flow of cash or securities (capital additions or withdrawals) that is client-initiated. An external flow of at least 10% of the portfolio market value is considered significant. This policy became effective July 1, 2002.
The 3-year annualized standard deviation measures the variability of the (gross) composite and the benchmark returns over the preceding 36-month period.
Actual performance of client accounts may differ substantially.
Past performance is not indicative of future results.
The Benchmark Returns are not covered by the report of independent verifiers.
GIPS® is a registered trademark of the CFA Institute. CFA Institute does not endorse or promote this organization, nor does it warrant the accuracy or quality of the content contained herein.
The content presented in this document is meant for informational purposes only and should not be used as a recommendation to buy any individual securities. Standard & Poor’s, Russell, and Orion Advisor provided index returns in the performance comparisons. All of this information comes from sources believed by LCM to be reliable. LCM, however, cannot guarantee the accuracy of the comparative returns and, therefore, shall not be held liable for inaccurate information obtained from data providers.
Investment Strategy Communicated With Transparency
Leeb Capital Management Investment Adviser provides quality investment management services to individuals and institutions. Our steadfast track record began in 1999, with macro “thought leadership” and diligent research wisely guiding our investment portfolio management.
Communication is the key to successful client relationships.
Every client is held in the highest regard and investment portfolios are tailored to meet each client’s investment objectives.
Feel free to request a portfolio review to discuss performance.
