Comparison of FIC Capital to the S&P 500


Important Disclosures:

All chart data is as of 12/31/11. FIC performance data is net of fees. “FIC Capital” represents a weighted average of all investments in all portfolios, including equity, fixed income and cash. "PM Tenure" represents the period of time that Jon Ferguson has been responsible for portfolio management (since 6/30/02).

Past performance is not indicative of future results and should not be relied upon in making an investment decision. The performance data provided herein is strictly for information purposes and is presented net of all fees and expenses. For a variety of reasons, FIC Capital’s composite performance will be materially different from the performance of benchmark indices such as the S&P 500, Dow Jones Industrials Average and the Nasdaq Composite. Differences in allocation among major asset classes such as stocks, bonds, and cash, and differences in allocation among industry sectors, market-capitalizations, growth characteristics and risk levels will cause differences to occur from these figures. Other relevant factors may include trading costs, the impact of taxes, management fees and the timing of withdrawals and contributions. Past performance of the major market indices do not include expenses, which are deducted from the returns of FIC Capital, but do include the impact of dividends.

Past performance calculations are not adjusted to include portfolios added by merger or acquisition. Following any merger or acquisition, portfolios are excluded from our performance calculations for a period of at least four quarters. Portfolios added as a result of the recent merger with Redican Asset Management are anticipated to be incorporated into the performance calculations of FIC Capital at the beginning of the quarter following the one year anniversary of the merger transaction (7/1/11). In the interim, these portfolios are deemed to be transitioning to FIC Capital’s expanded research and portfolio management team.

Please contact us directly at (212) 679-2100 if you have any questions concerning this disclosure, or in what context to view this data.