Disclosure, Risks & Definitions

Disclosures

This material is provided for informational purposes only and should not be construed as investment advice or an offer to sell or the solicitation of offers to buy any product or service. The information contained in this website is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations. This website makes no implied or express recommendations concerning the manner in which any investment account should or would be handled. This information does not take into account the particular investment objectives, restrictions, tax and financial situation or other needs of any specific investor. Investors are urged to consult with their financial advisors before buying or selling any securities.

This website may include forward-looking statements. These statements may be identified by such words as “may”, “plans”, “expects”, “believes” and similar expressions, or by their context. These statements are made on the basis of current expectations and involve risks. Town Lake Capital Management disclaims any representation or warranty regarding the forward-looking information included in this website and expects that there will be differences between such forward-looking statements and the actual results, and some of those differences may be material.

The Fee Transparency chart is for illustrative purposes only and is purely hypothetical in nature. It is shown to demonstrate the mathematical implications of increased fees. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR STRATEGY.

Diversification and Asset allocation do not guarantee that your investment will increase in value nor will they protect against a decline in value if market prices fall.

Risks

Investing has inherent risks that investors should know and understand. These risks include:

Investing in Private Equity and Absolute Return strategies involve significant risks such as:

Definitions

The Standard & Poor’s 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. Indices cannot be invested into directly.

Large Cap: A term used by the investment community to refer to companies with a market capitalization value of more than $10 billion. Large cap is an abbreviation of the term “large market capitalization”. Market capitalization is calculated by multiplying the number of a company’s shares outstanding by its stock price per share.

Mid Cap: A company with a market capitalization between $2 and $10 billion, which is calculated by multiplying the number of a company’s shares outstanding by its stock price.

Small Cap: Refers to stocks with a relatively small market capitalization, generally between $300 million and $2 billion.

Fixed Income: An investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity. Unlike a variable-income security, where payments change based on some underlying measure such as short-term interest rates, the payments of a fixed-income security are known in advance. Read more

Absolute Return: The return that an asset achieves over a certain period of time. This measure looks at the appreciation or depreciation (expressed as a percentage) that an asset – usually a stock or a mutual fund – achieves over a given period of time. Read more

Unbundled: An unbundled plan offers the flexibility to select the best providers for each service component in an open architecture environment with fee transparency. A disadvantage has been managing the plan information and services across multiple relationships.

Growth of $1 Graph Source Information