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Services > Wealth Management > Services
Braver Wealth Management Services
High Yield Bonds
A highly conservative, defensive investment program where preservation of capital is the
foremost priority. All accounts are monitored daily and, based on probabilistic computer models,
BWM positions the client's money in either a money market fund or a high yield bond fund.
| Year |
Braver
Gross Return |
Braver Return After Fee |
High Yield Bond Fund Average (Buy and Hold) |
| 1996 (3 Mos) |
2.5% |
2.2% |
3.6% |
| 1997 |
14.9% |
13.7% |
12.9% |
| 1998 |
11.5% |
10.5% |
-0.7% |
| 1999 |
7.2% |
6.1% |
4.0% |
| 2000 |
3.4% |
2.4% |
-9.1% |
| 2001 |
8.8% |
7.8% |
1.7% |
| 2002 |
5.3% |
4.2% |
-1.6% |
| 2003 |
25.4% |
24.2% |
23.7% |
| 2004 |
9.5% |
8.5% |
9.7% |
| 2005 |
4.5% |
3.5% |
2.5% |
| 2006 (9 Mos) |
5.0% |
4.2% |
5.8% |
| Avg Comp Ann Ret |
9.6% |
8.6% |
4.9% |
| Ann Std Dev |
6.3% |
6.2% |
8.5% |
| Sharpe Ratio |
0.9 |
0.8 |
0.1 |
| As of September 30, 2006 |
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| Accounts Under High Yield Bond Program: |
186 |
| Assets Under High Yield Bond Program: |
$55 Million |
| Percentage of Braver's Total Discretionary Assets: |
24.5% |
| Transaction Summary |
| (Capital gain or loss portions only; does not include dividends) |
| Time Period: |
8-1-85 to 9-30-06 |
(21.1 yrs) |
| Fund Utilized: |
Federated High Yield Bond Fund |
| 35 Total Round Trip Transactions as follows: |
| 20 Profitable |
15 Unprofitable |
| Avg Gain |
5.23% |
Avg |
-1.47% |
| Largest Gain |
40.38% |
Largest Gain |
-3.02% |
| 34 Repurchases as follows: |
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27 at a lower price |
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6 at a higher price |
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1 at the same price |
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