Disclosure
Maritime Investment Management Inc.'s Large
Cap Durable Growth Equity Performance Description:
Maritime
Investment Management (USA) Inc. (MIM, the firm) is an SEC
registered independent investment advisor. MIM is a
Delaware incorporated, wholly owned division of SEAMARK Asset
Management Ltd., a Canadian investment management company.
MIM applies a bottom up equity selection approach to the
management of large capitalization US equity portfolios.
Performance numbers shown are the time-weighted, total return
results of the US Large Cap Durable Growth Equity Composite
managed by the investment professionals of Maritime Investment
Management. The effective date of compliance is October
1, 1997. The composite creation date is October 1, 1997.
The composite includes all fee-paying fully discretionary
portfolios with an invested value greater than one million
dollars which are following a US large capitalization growth
equity mandate. No leverage is utilized in the
management of portfolios and no non-fee paying portfolios are
included in the composite.
All accounts
included in the composite are within the same investment
guidelines. Performance is based on returns in US dollars.
Performance shown is gross of all management and incentive fees
and net of withholding taxes on dividends, interest and capital
gains. The benchmark is the Russell 1000 Growth Index for
which there is no advisory fee. Performance results earned
on behalf of Maritime Investment Management’s clients are
calculated gross of investment management fees and will be
reduced by MIM’s investment advisory fee.
Generally, fees
are charged based upon the size of the portfolio and are stated
below. There have been no changes in the personnel
responsible for the investment management process of the
composite.
First $20 million............0.75%
Next $30 million............0.65%
Next $25 million............0.50%
Next $25 million............0.40%
Over $100 million...........0.30%
Performance is measured on a
monthly basis and is geometrically linked to obtain the
quarterly and annual results. Only full calendar quarters
are included in the calculation of performance. Eligible
new portfolios are added to the composite after they have been
fully invested for one full calendar month. Terminated
accounts remain in the historical figures.
The following is presented for
informational purposes:
|
Year Ended December 31 |
Gross Rate of Return |
Net Rate of Return |
Number of Port-folios |
Non-Fee Paying Portfolios (%) |
Composite Assets at End of Year ($mm) |
Composite Assets as % of Total Firm Assets |
Composite Assets as % of Total Product Assets |
Total Firm Assets ($ millions) |
Dispersion of annual returns (Std. Dev) |
Benchmark
Return of
Russell
1000 GR
Index |
|
2006
(Thru 2Q) |
-0.40% |
-0.68% |
3 |
0.00% |
$172.4 |
3.6% |
19.0% |
$4,730.5 |
0.16% |
-0.93% |
|
2005 |
4.13% |
3.98% |
3 |
0.00% |
$210.4 |
2.6% |
13.9% |
$8,020.5 |
0.49% |
5.47% |
|
2004 |
4.00% |
3.42% |
3 |
0.00% |
$233.2 |
2.6% |
13.8% |
$9,026.7 |
0.58% |
6.30% |
|
2003 |
39.29% |
38.36% |
4 |
0.00% |
$182.6 |
2.2% |
9.7% |
$8,159.2 |
0.77% |
29.76% |
|
2002 |
-21.90% |
-22.98% |
2 |
0.00% |
$136.1 |
2.3% |
10.5% |
$5,821.7 |
0.00% |
-27.89% |
|
2001 |
-1.70% |
-2.65% |
1 |
0.00% |
$78.5 |
1.6% |
6.7% |
$4,762.0 |
0.00% |
-20.42% |
|
2000 |
9.47% |
8.76% |
1 |
0.00% |
$48.7 |
1.4% |
6.2% |
$3,510.9 |
0.00% |
-22.43% |
|
1999 |
41.83% |
40.57% |
1 |
0.00% |
$36.5 |
1.3% |
5.9% |
$2,773.5 |
0.00% |
33.16% |
|
1998 |
23.41% |
21.88% |
1 |
0.00% |
$21.9 |
1.0% |
5.0% |
$2,109.1 |
0.00% |
38.72% |
|
1997(4Q) |
-6.00% |
-6.00% |
1 |
0.00% |
$9.2 |
0.7% |
5.5% |
$1,319.0 |
0.00% |
9.15% |
Maritime
Investment Management
has prepared and presented this
report in compliance with Performance Presentation Standards
of the Association of Investment Management Research
(AIMR-PPS). AIMR has not been involved with the
preparation or review of this report. Past performance
is not a guarantee of future results.
Disclosure
Statement
(As required by SEC Rules and Regulations)
Greg Reid Associates, Inc., located in Walpole, Massachusetts,
serves as an independent agent and marketing representative for
Maritime Investment Management Inc.
located in Nova Scotia, Canada. Greg
Reid Associates is compensated for its services by
Maritime Investment Management Inc. in
the form of an annual marketing retainer fee. In addition, for
the production and retention of new business generated, Greg
Reid Associates receives a percentage of
Maritime's asset management fees. No
additional amount is added to
Maritime's investment advisory fee as
a result of Greg Reid Associates' role in the solicitation of
new business for them. A copy of Maritime's
Form ADV as filed with the Securities and Exchange
Commission is available upon request.
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