Monthly Income Portfolio Balanced Growth/5% Disclosure

Monthly Income Portfolio 5% – Target Allocations: Equities 68%, Multi-Asset Income 17%, Distribution Reserve 15%, but may vary at manager’s discretion. The Monthly Income Portfolio 5% strategy typically aims to generate growth sufficient enough to replenish inflation-adjusted withdrawals. 

The Monthly Income Portfolio strategies utilize the HCM-BuyLine® proprietary indicator to monitor market conditions and assist in determining whether or not assets should be invested in equity products or moved to cash, cash equivalents, or bond funds. Multiple indicators are monitored in an effort to identify such trends in the equity markets. The strategy is rebalanced periodically, and it is possible for the allocation to be adjusted, including when the HCM-BuyLine® indicates a strengthening or weakening of the equity markets. (HCM) strategy is actively managed, it may experience above-average turnover, which could have a negative impact on account performance. To discourage short-term investing and excessive trading, mutual funds, including those utilized in the Monthly Income Portfolio strategies, may impose short-term redemption fees that range from 0.50% to 2.00%. HCM seeks to avoid these fees, but they may occasionally be incurred. 

Comparative Benchmark for: 

5% HFRX Equity Hedge Index (68%), Barclays Capital US Aggregate Bond TR Index (17%), United States Treasury Bills (15%). 

HFRX Equity Hedge Index is constructed using a UCITSIII compliant methodology, which is based on defined and predetermined rules and objective criteria to select and rebalance components to maximize representation of the Hedge Fund Universe. HFRX Indices utilize quantitative techniques and analysis, multi-level screening, cluster analysis, Monte-Carlo simulations and optimization techniques to ensure that each Index is a pure representation of its corresponding investment focus. Full strategy and regional descriptions (multi-language), as well as the full “HFRX Hedge Fund Indices Defined Formulaic Methodology” may be downloaded at The Barclays Capital US Aggregate Bond TR Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. This includes Treasuries, government related and corporate securities, mortgage-backed securities, asset-backed securities and collateralized mortgage-backed securities. The U.S. Treasury Bills index is an index based on the auctions of U.S. Treasury bills, or on the U.S. Treasury’s daily yield curve. 

Monthly Income Portfolio data in this report has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of Howard Capital Management, Inc. Howard Capital Management, Inc. is registered as an investment adviser with the SEC and only transacts business where it is properly registered or is otherwise exempt from registration. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.LASS.MIP.5B.0921