401(k) Performance Report
The following is our model portfolio’s performance on a Year-to-Date basis as of 12/31/2009. If you are a participant in one of our plans and did not elect to participate in our model portfolio, please consult your statements or your TPA’s website for individual fund performance.
| Year | MAC Port | VINIX* | FDIVX* |
| 2007 | 14.5% | 5.5% | 16.0% |
| 2008 | (1.1%) | (37.0%) | (45.2%) |
| 2009 | 13.9% | 26.6% | 31.8% |
* VINIX is the Vanguard Institutional Index Fund and FDIVX is the Fidelity Diversified International Fund. These two funds are the two largest holdings in 401(k) plans by assets under management.
**As of 9/30/09
401(k) Performance Reporting Disclosure Statements
Portfolio returns are gross returns and do not reflect any non-fund expenses including but not limited to TPA fees, brokerage commissions and Adviser fees. These fees will be in the range of 1-2% annually. A participant’s realized return will be the reported return less these fees. Please check your company’s Adviser Agreement for fee schedule. Furthermore, actual realized returns will vary depending on money flows in and out of the master account. For additional disclosures regarding our performance reporting, please visit our Disclaimer, Performance Reporting Disclosure and Copyright Statements .
Total Portfolio Returns are calculated by multiplying the price returns (see next) of a particular fund or security by percentage of the portfolio allocated to the fund/security. For example, if a fund originally made up 25% of the portfolio and its YTD return is 10%, then it would contribute 2.5% to the total return of the portfolio.
Price Returns for individual positions are calculated by taking the difference in current price (P2) less the purchase price/previous year-end price, which ever is applicable, (P1) plus dividends paid (D) divided by the purchase/previous year-end price – (P2 + D – P1)/P1.
Compounding: From time to time, the adviser will change the allocation of the funds in the portfolio. In order to account for the compounding of YTD gains in the account, the following calculation will be made. The YTD gains for the portfolio plus a factor of one will be multiplied to the new current allocation. For example, assume that the portfolio is up 10% when an allocation change is made and 25% of the new allocation consists of Fund ABCDX. Any gains or losses for fund ABCDX will be multiplied by 27.5% to calculate the fund’s contribution to YTD gains.
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