There are risks with every investment endeavor. In our experience, there are two risks that have a lasting and compounding impact on a client’s portfolio:

• consistent underperformance
• excessive fees

Many investment vehicles are simply not created to outperform. In fact, research indicates that the majority of actively managed mutual funds lag behind the index they are tracking.* This consistent underperformance combined with confusing — and sometimes downright excessive fees — can contribute to repeated poor performance for an investor.

The following graphic shows the impact of these threats. At Mission Capital Management, it’s our goal to outperform the market over time, while eliminating unnecessary layers of fees. If achieved, the compounded year over year impact, translates to significant and meaningful results for our clients.

*Source: Standard & Poors, CRSP for periods ending June 30, 2009

Impact of Fees and Performance

(based on assumptions below)**