SHAKER INVESTMENTS WEBSITE DISCLOSURE
Small/Mid-Cap Growth Equity Composite contains fully discretionary accounts that focus on long-term growth in equity securities of small and mid-cap companies (typical market capitalization ranges from $150 Million to $14 Billion) with potential for growth. For comparison purposes, the composite is measured against the Russell 2500 Growth. The Russell 2500 Growth Index measures the performance of those Russell 2500 companies respectively, with higher price-to-book ratios and higher forecasted growth values. The minimum account size for the composite is $250,000.
Shaker Investments, L.L.C. has prepared and presented this report in compliance with the Performance Presentation Standards of the Association for Investment Management and Research (AIMR-PPS®), the U.S. and Canadian version of the Global Investment Performance Standards (GIPS®). Compliance with the AIMR-PPS has been verified firm wide by an independent verification firm from October 1, 1991 though December 31, 2004. In addition a performance examination on the Small/Mid-Cap Growth Equity Composite has been performed beginning October 1, 1991 through December 31, 2004. AIMR has not been involved in the examination of this report.
Shaker Investments, L.L.C. is a registered investment adviser, specializing in growth-oriented small and small/mid-cap equity management. The firm maintains a complete list and description of composites, which is available upon request.
Results are based on fully discretionary accounts under management, including those accounts no longer with the firm. Non-fee-paying accounts are not included in this composite. Leverage is not used in this composite. Past performance is not indicative of future results.
The U.S. Dollar is the currency used to express performance. Returns are presented gross of management fees and include the reinvestment of all income. Actual returns will be reduced by investment advisory fees and other expenses that may be incurred in the management of the account. A fee schedule is included in the complete presentation and is described in Part II of the firm’s ADV, which is available upon request. The collection of fees produces a compounding effect on the total rate of return net of management fees. Actual investment advisory fees incurred by clients may vary. The annual composite dispersion presented is asset weighted standard deviation calculated for the accounts in the composite the entire year.
The Small/Mid-Cap Growth Equity Composite was created October 1, 1991. The Independent Verifier’s Report and the Quarterly Performance Presentation are an integral part of this presentation. To receive a complete list and description of Shaker Investments’ Composites and / or a presentation that adheres to GIPS standards, contact Beth Deeds at (888) 314-9048 or email beth@shakerinvest.com.
