Tactical Equity

  • Objective is to produce total returns that exceed the S&P 500 Index with less volatility over the long term through the use of active portfolio management.
  • Invests primarily in large, low-cost, liquid exchange traded funds (ETFs).
  • Looks across geographies, industry sectors, market capitalization, and income generation to provide diversification and a superior risk/reward profile.
  • May invest in individual equities that are carefully researched and present compelling total return opportunities.
  • Equity exposure may range from 75% to 100%.

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The Tactical Equity Strategy composite includes all institutional and retail portfolios that are primarily invested in publicly traded equity-based Exchange Traded Funds, equities, and equity mutual funds with the goal of providing long-term capital growth. The strategy aims to generate competitive returns relative to its benchmark by using macroeconomic research and quantitative analysis to identify securities and sectors with greater potential for superior risk-adjusted returns. The strategy seeks to overweight those investments identified as attractive while avoiding or underweighting the sectors and securities with less potential for positive returns. The strategy also maintains a discipline designed to limit losses, but such a discipline does not eliminate the risk of loss. The benchmark is the S&P 500 Index. Closed account data is included in the Composite as mandated by the standards in order to eliminate a survivorship bias.

The Tactical Equity Strategy composite was created on November 3rd 2010, and has an inception date of December 31st 2006. Prior to August 31st 2013 the Tactical Equity Strategy composite was called the Equity Market Tactical Allocation Strategy composite. The U.S. Dollar is the currency used to express valuations and performance. The firm maintains a complete list and description of composites, which is available upon request. Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.

Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Returns are presented net of management fees and include the reinvestment of all income. Net-of-fee performance is calculated using actual management fees. The Number of Accounts and Composite Assets columns include only the accounts that were in the composite at the end of the year. The annual composite dispersion presented is a net-of-fees, asset-weighted standard deviation calculated only for the accounts in the composite for the entire year. Additional information regarding the policies for calculating and reporting returns is available upon request. Past performance is not indicative of future results.

The specific manner in which investment advisory fees are charged by Granite Springs is established in each client’s respective Investment Advisory Contract (IAC). The basic fee is 1.00% of assets under management, paid quarterly in advance. Actual investment advisory fees incurred by clients may vary. Investment advisory fees are negotiable. Additional information on Granite Springs’s investment advisory fees can be found on its Form ADV, Part 2 A.