J2 Enrollment - Web Book - 2024 - Flipbook - Page 61
Word about risk continued
FIM?ÊGIL?ÊNB;HÊNB?Ê=;MBÊ;GIOHNÊCHP?MN?>ŸÊÊÊ
#MMO?LMÊI@ÊMIP?L?CAHÊ>?
ÊG;SÊB;P?ÊFCGCN?>ÊL?=IOLM?ÊCHÊNB?Ê
?P?HNÊI@Ê>?@;OFNŸÊ1CNBIONÊ>?
?LÊ;JJLIP;FƙÊ
MIG?ÊAIP?LHG?HN;FÊ>?
?Ê
@FO=NO;NCIHMÊCHÊ@IL?CAHÊ=OLL?H=C?MƙÊJIFCNC=;FÊ;H>Ê
?=IHIGC=ÊCHMN;
Ê@IL?CAHÊN;R;NCIHÊCMMO?MŸÊÊÊ
.B?Ê OH>ÊG;SÊBIF>ÊCFFCKOC>ÊM?=OLCNC?MÊNB;NÊCNÊG;SÊ
Ê
=IOF>ÊFIM?ÊCNMÊ?HNCL?ÊCHP?MNG?HNÊCHÊMO=BÊM?=OLCNC?MŸÊÊ
ILÊQL;JÊ;AL??G?HNMÊJOL=B;M?>Ê
ƙÊNB?L?Ê
CMÊHIÊ;=NCP?ÊG;LE?NÊ;H>ÊNB?ÊM;F?ÊI@ÊMO=BÊ;AL??G?HNMÊ
CMÊHINÊ;HÊ;P;CF;
L;Q;FÊ
L?KO?MNMŸÊ*F;HMÊ;H>ÊJF;HÊJ;LNC=CJ;HNMÊ;L?ÊMO
CNSÊLCMEÊ>O?ÊNIÊP;LCIOMÊQCNB>L;Q;FÊL?MNLC=NCIHMÊ
L?F;NCHAÊNIÊNB?Ê OH>ƙÊM??ÊLNC=F?Ê0#Ê-?=NCIHÊƊÊI@ÊNB?Ê
?=F;L;NCIHÊI@Ê.LOMNŸÊÊ
.B?Ê OH>ÊCMÊMOCN;
Ê
MBIOF>ÊHINÊ
Ê;MÊ;ÊMBILNN?LGÊCHP?MNG?HNÊ
P?BC=F?ŸÊ'IL?IP?LƙÊ;HÊCHP?MNG?HNÊCHÊNB?Ê OH>ÊCMÊHINÊ
CHN?H>?>ÊNIÊJLIPC>?Ê;Ê=IGJF?N?ÊILÊ
Ê
CHP?MNG?HNÊJLIAL;GŸÊ.B?Ê OH>ÊG;SÊ;FMIÊ
O;FÊCHP?MNCHAÊMNSF?MÊG;SÊHINÊ
=IGJF?G?HNÊ?;=BÊINB?LƙÊQBC=BÊ=;HÊL?MOFNÊCHÊBCAB?LÊ
JILN@IFCIÊNOLHIP?LMƙÊ?HB;H=?>L?>O=?>Ê
=IH=?HNL;NCIHMÊILÊCHP?MNCHAÊMNSF?Ê=IGJ;L?>ÊQCNBÊ;HÊ
CHP?MNG?HNÊQCNBÊ;ÊMCHAF?ÊG;H;A?LŸÊÊ
'OHC=CJ;FÊM?=OLCNC?MÊ;L?ÊMO
CNCIHMÊ=IOF>Ê;@@?=NÊ;HÊ
CMMO?L¤MÊ;
Ê
ILÊCHN?L?MNŸÊÊÊ
.B?Ê OH>ÊG;SÊCHP?MNÊCHÊ;HÊCHP?MNG?HNÊP?BC=F?ƙÊMO=BÊ
;MÊ;ÊJLCP;N?ÊCHP?MNG?HNÊILÊ=IGGCHAF?>Ê@OH>ƛÊ;MÊ;Ê
L?MOFNƙÊNB?Ê@OH>ÊCMÊMO
?LFSCHAÊLCMEMÊI@Ê
NB;NÊCHP?MNG?HNŸÊÊ
)
Ê
Ê
CHMNLOG?HN;FCNC?MÊG;SÊL?=?CP?ÊP;LSCHAÊF?P?FMÊI@Ê
MOJJILNÊ@LIGÊNB?ÊAIP?LHG?HNƙÊQBC=BÊ=IOF>Ê;@@?=NÊ
NB?Ê@OH>¤MÊ;
ÊNB?SÊ>?@;OFNŸÊÊÊ
.B?Ê OH>ÊCMÊHINÊ;ÊGONO;FÊ@OH>ÊILÊ;HSÊINB?LÊNSJ?ÊI@Ê
#HP?MNG?HNÊIGJ;HSÊQCNBCHÊNB?ÊG?;HCHAÊI@ÊNB?Ê
#HP?MNG?HNÊIGJ;HSÊ=NÊI@ÊƂƊƅƁƙÊ;MÊ;G?H>?>ƙÊ;H>Ê
CMÊHINÊMO
?LŸÊ
IFF;LÊLIFFÊNL;HM;=NCIHMÊCHPIFP?ÊNB?ÊLCMEÊNB;NÊNB?Ê
G;LE?NÊP;FO?Ê;H>ÊSC?F>ÊG;SÊ>?=FCH?Ê
ÊM?=OLCNC?MÊNB;NÊB;P?Ê
Ê;H>Ê;L?ÊL?KOCL?>ÊNIÊ
.IÊ?ÊHHIOH=?>ÊNL;HM;=NCIHMÊCHPIFP?ÊNB?ÊLCMEÊNB;NÊ
NB?ÊM?=OLCNC?MÊL?=?CP?>ÊG;SÊ
?FCP?LÊNB?ÊM?=OLCNSƙÊ?RJIMCHAÊNB?Ê@OH>ÊNIÊ@OLNB?LÊ
FIMM?MŸÊ1B?NB?LÊILÊHINÊNB?Ê@OH>ÊN;E?MÊ>?FCP?LSÊI@ÊNB?Ê
M?=OLCNC?MÊ;NÊNB?ÊN?LGCH;NCIHÊ>;N?ÊI@Ê;Ê.IÊ?Ê
HHIOH=?>ÊNL;HM;=NCIHƙÊNB?Ê@OH>ÊQCFFÊ
ÊNIÊ
=B;HA?MÊCHÊNB?ÊP;FO?ÊI@ÊNB?ÊOH>?LFSCHAÊCHP?MNG?HNMÊ
>OLCHAÊNB?ÊN?LGÊI@ÊNB?Ê;AL??G?HNÊ
*OLMO;HNÊNIÊ .Ê,OF?ÊƅŸƆƙÊNB?Ê.LOMN??ÊCMÊ?R?GJNÊ
@LIGÊB;PCHAÊNIÊL?ACMN?LÊ;MÊ;Ê=IGGI>CNSÊJIIFÊ
IJ?L;NILÊ
Ê
Ê;HHO;FÊL?JILNÊ@ILÊNB?Ê OH>ŸÊÊ
.B?Ê OH>ÊCMÊMO
CHAÊNB?ÊLCMEMÊ;MMI=C;N?>ÊQCNBÊ;HÊCHP?MNG?HNÊCHÊ
NB?Ê OH>ŸÊÊ
Portfolio composition
Asset Allocation
% TNA
IL?Ê#HP?MNG?HNM
#HN?LG?>C;N?Ê#HP?MNG?HNM
-BILNÊOL;NCIHÊ#HP?MNG?HNM
-BILNÊ.?LGÊ#HP?MNG?HNM
Manager Diversification
ƃƁŸƇƃ
ƄƁŸƊƅ
ƅƇŸƅƈ
ƂŸƊƈ
% TNA
I>A?ÊÊIR
#HP?M=I
$?HHCMIH
&IIGCMÊ-;SF?M
*#')
-BILNÊ.?LGÊ#HP?MNG?HNM
ƆŸƂƆ
ƇƂŸƊƁ
ƂƁŸƄƁ
ƂƁŸƄƅ
ƂƁŸƄƅ
ƂŸƊƈ
Portfolio composition statistics are subject to change
and current holdings may differ. It should not be
assumed that any of the holdings discussed were or
will prove to be profitable, or that the investment
recommendations or decisions we make in the future
will be profitable or will equal the investment
performance of the holdings.
Sector Allocation
-BILNÊ.?LGÊ#HP?MNG?HNM
/Ÿ-ŸÊ.L?;MOLC?MÊ-?=OLCNC?M
/Ÿ-ŸÊ!IP?LHG?HNÊA?H=C?M
(IH/-Ê!IPNA?H=S
ILJIL;N?ÊIH>M
'ILNA;A?Ê;=E?>Ê-?=OLCNC?M
MM?NÊ;=E?>Ê-?=OLCNC?M
IGG?L=C;FÊ'ILNA;A?Ê;=E?>
-?=OLCNC?M
'OHC=CJ;F
?LCP;NCP?M
Total
Quality Allocation***
-BILNÊ.?LGÊ#HP?MNG?HNM
Ƌ
(INÊ,;N?>
Portfolio Characteristics
@@?=NCP?ÊOL;NCIHÊƧ3?;LMƨ
L?>CNCHAÊ,;N?
3C?F>ÊNIÊ';NOLCNS
% TNA
ƃŸƈƈ
ƃƃŸƇƇ
ƂŸƃƉ
ƁŸƁƃ
ƃƆŸƆƇ
ƃƆŸƈƂ
ƃƂŸƄƃ
ƆŸƊƈ
ƁŸƂƉ
ƁŸƁƇ
100.00
% TNA
ƃŸƈƈž
ƈƈŸƅƊž
ƅŸƅƄž
ƂƃŸƃƇž
ƉŸƅƉž
ƁŸƁƆž
ƁŸƁƇž
100.00%
ƄŸƆƃ
ƄŸƁƃž
ƆŸƊƂž
Wrap Provider Exposure
Moody’s
S&P
Fitch
Portfolio %
Rating
Rating
Rating
ƂƅŸƆƈž
;Ƅ
ƂƃŸƈƄž
;Ƅ
ƂƃŸƆƆž
;ƃ
ƀ
ƂƃŸƃƁž
;Ƅ
ƂƃŸƃƁž
ƃ
ƀ
ƀ
ƂƂŸƈƃž
;Ƅ
ƀ
ƀ
ƂƁŸƄƃž
Ƃ
ƀ
1
ƈŸƉƅž
Ƃ
ƅŸƁƊž
ƃ
ƀ
ƊƉŸƃƂž
**Includes cash and cash equivalents held in underlying investments.
***Ratings Source: Moody’s, Standard & Poor’s or Fitch, as applicable. Ratings are measured on a scale that
generally ranges from AAA (highest) to D (lowest); ratings are subject to change without notice. If securities
are rated differently by the rating agencies, the higher rating is applied. Not Rated (NR) indicates the debtor
was not rated, and should not be interpreted as indicating low quality. For more information on the rating
methodology, please visit moodys.com, standardandpoors.com or fitchratings.com.
****The crediting rate is gross of management fee and client services fees, but net of operating expenses,
acquired fund expenses, and wrap expenses.
Contract Issuer
'?NÊ.IQ?LÊ&C@?
*;=C@C=Ê&C@?Ê#HM
-N;N?Ê-NL??NÊ;HE
*LO>?HNC;FÊ#HMÊI
G?LC=;HÊ!?H?L;FÊ&C@?Ê#HM
';MM'ONO;F
.L;HM;G?LC=;
,!
0IS;Ê,?NCL?G?HNÊÊHHOCNS
Important information
.B?Ê#HP?M=IÊIFF?=NCP?Ê.LOMNÊ OH>MÊ;L?Ê
MÊ@ILÊQBC=BÊ#HP?M=IÊ.LOMNÊIGJ;HSÊM?LP?MÊ;M
NLOMN??Ê;H>ÊCHP?MNG?HNÊG;H;A?LŸÊ.B?SÊ;L?Ê;P;CF;
ÊL?NCL?G?HNÊJF;HMŸÊ.B?Ê@OH>MÊ;L?
HINÊ #ÊCHMOL?>ÊILÊL?ACMN?L?>ÊQCNBÊNB?Ê-?=OLCNC?MÊ;H>ÊR=B;HA?ÊIGGCMMCIHŸÊ OH>ÊCHP?MNILMÊ;H>ÊJIN?HNC;F
CHP?MNILMÊ;L?ÊMNLIHAFSÊ?H=IOL;A?>ÊNIÊL?PC?QÊNB?Ê@OH>MſÊ?=F;L;NCIHÊI@Ê.LOMNÊ@ILÊ;>>CNCIH;FÊCH@ILG;NCIHÊL?A;L>
CHAÊNB?ÊIJ?L;NCIHÊ;H>ÊCHP?MNG?HNÊI
MŸÊ#HP?M=IÊCMNLC
CMNLC
MŸÊINBÊ#HP?M=IÊ.LOMNÊIGJ;HSÊ;H>Ê#HP?M=IÊCMNLC
CL?=NƙÊQBIFFS
IQH?>ÊMO
C;LC?MÊI@Ê#HP?M=IÊ&N>Ÿ
';N?LC;FÊJL?M?HN?>ÊCMÊ=IGJCF?>Ê@LIGÊMIOL=?MÊ
ÊNIÊ
;NCIHÊI@Ê;HSÊCHP?MNG?HNÊMNL;N?ASÊILÊJLI>O=NÊ@ILÊ;ÊJ;LNC=OF;L
CHP?MNILŸÊ#HP?MNILMÊMBIOF>Ê=IHMOFNÊ;Ê@CH;H=C;FÊJLI@?MMCIH;FÊ
?=CMCIHMŸÊ1B?HÊ?P;F
O;NCHAÊQB?NB?LÊ;Ê@OH>ÊCMÊ;JJLIJLC;N?Ê@ILÊSIOLÊCHP?MNG?HNÊAI;FMƙÊ@OH>ÊJ?L@ILG;H=?ƙÊ@??MÊ;H>Ê?RJ?HM?MÊ;L?
IHFSÊ;Ê@?QÊI@ÊNB?Ê=LCN?LC;ÊSIOÊMBIOF>Ê=IHMC>?LŸÊ3IOÊG;SÊ;FMIÊ=IHMC>?LÊNB?ÊCHP?MNG?HNÊI
LCMEMŸ
.B?ÊFIIG
Ê
?L;FÊ!IP?LHG?HNÊA?H=SŸ
For Consultant, Broker Dealer, Institutional Investor or Existing Plan Sponsor & their participants' use only.
-N;
