American Funds (Model Portfolio Provider) - Morgan Stanley

Amer Fds Ret Income Cons MAPS (AFV-1)

Style: Global Multi Asset GIMA Status: Approved Program Inception: 01/25/2018 Strategy Minimum: $5,000

EXECUTIVE SUMMARY

To help you better understand the performance results of third-party investment manager strategies within our Select UMA Program, we are including additional information within

manager profiles that may inform your decision to invest in this strategy:

?

?

?

The performance results displayed in this profile may include a composite of Morgan Stanley accounts enrolled in the strategy . These are unshaded in the

Investment Results and Portfolio Quarterly Returns sections of the profile with the Select UMA label.

The results also display the performance of the manager¡¯s own composite of accounts invested in its version of the investment strategy , prior to the strategy¡¯s

inception in the Select UMA program. These are shaded in grey and labeled Manager. While this performance is relevant, it does not reflect the role that Morgan

Stanley plays in delivering this strategy, which is reflected in the unshaded portion of the Investment Results and Portfolio Quarterly Returns sections of the profile.

Morgan Stanley works in tandem, with the manager, to deliver this strategy to its clients. For this reason, Morgan Stanley does not display the manager¡¯s own

composite of accounts invested in its version of the investment strategy beyond the transition month . As a result, the manager¡¯s results and the strategy¡¯s results

may differ, as discussed in further detail below.

If the transition month between the manager¡¯s results and the strategy¡¯s results occurs in the middle of a quarter , that quarter or year will be shaded blue in the

Investment Results and Portfolio Quarterly Returns sections of the profile and labeled Transition.

The manager exercises discretion in selecting securities for your account, but differences between the manager¡¯s prior gross results and the strategy¡¯s ongoing gross results may

arise from variations in who executes the strategy or how it is implemented:

?

?

?

?

Some managers may deliver a model portfolio to Morgan Stanley, which may ultimately be responsible for executing those investment decisions.

In some cases, the manager may act as an "executing manager," which means it implements its investment decisions and transactions directly instead of delivering

instructions to Morgan Stanley.

The manager¡¯s prior performance results are based on accounts that do not participate in the Select UMA program, with investment and operational differences such

as account size and/or level of customization.

There may be other reasons why the performance results differ from those of individual Select UMA accounts managed in the same or a substantially similar

investment strategy. For example, Morgan Stanley may deviate from strategy models when applying client-requested restrictions.

If you have any questions about any of the information included in this profile, please contact your Morgan Stanley team.

Past performance is not a guarantee of future results. Actual individual account results may differ from the performance shown in this profile. There is no guarantee that any

investment strategy will achieve its intended results under all market conditions. Do not rely upon this profile as the sole basis for your investment decisions.

For MAPS Third Party Model Portfolios, ¡®Manager¡¯ illustrated performance is that of the Model Portfolio Provider.

The subsequent pages contain important disclosures and a glossary of terms. Information as of June 30, 2024, unless otherwise noted and is subject to change.

Amer Fds Ret Income Cons MAPS? (AFV-1)

Style: Global Multi Asset GIMA Status: Approved Program Inception: 01/25/2018 Strategy Minimum: $5,000

Strategy Overview

Target Portfolio Characteristics

Morgan Stanley Smith Barney LLC ("Morgan

Stanley") is the Manager of this strategy. For

more information on Morgan Stanley's

implementation of models provided by the

Model Portfolio Provider, please see the

disclosures section. Since 1931, Capital Group has

been singularly focused on delivering superior,

consistent results for long-term investors using

high-conviction portfolios, rigorous research and

individual accountability. The "American Funds

Retirement Income Model Portfolio Conservative"

is designed for retirees who seek lower volatility.

The conservative model focuses on capital

appreciation. This model portfolio was created by

our Portfolio Oversight Committee, a group of

senior portfolio managers with decades of

investment experience. In creating the models,

the committee followed an objective-based,

bottom-up process, which included rigorous

analysis of the underlying funds.

Description

1

2

Portfolio Manager Details

Value

Number of security holdings:

488 to 516

Manager Name

1

Term

Andrew B. Suzman

December 2015 - Present

P/E ratio:

¡ª

Alan N. Berro

December 2015 - Present

Cash level over market cycle:

¡ª

Wesley K. Phoa

December 2015 - Present

Risk (standard deviation):

¡ª

John R. Queen

December 2019 - Present

William L. Robbins

December 2019 - Present

Samir Mathur

December 2019 - Present

Michelle J. Black

December 2019 - Present

Average turnover rate:

1 to 3%

Average maturity:

Use ADRs:

Capitalization:

7.0 to 7.6 years

Yes. We specifically seek international equity

exposure.

¡ª

Eligible Investments:

Mutual Funds, ETFs

Manager's Investment Process

? Our investment process, The Capital System, is designed to enable individual investment professionals to act on their highest convictions, while

limiting the risk associated with isolated decision-making. A diverse group of portfolio managers and analysts brings complementary investment

approaches, experience levels, backgrounds and areas of focus to each investment offering.

? Our investment approach is a fundamental one guided by thorough, detailed internal research and analysis based on extensive fieldwork and

direct company contact. Our investment professionals travel the world to seek the best investment opportunities and gain a comprehensive

understanding of companies and markets.

? Model Portfolio Provider and analysts also work closely with our fixed-income and macroeconomic analysts when examining potential

investments. The process includes a thorough review of a company's financial strength, as well as an assessment of appropriate valuation for its

securities. By coordinating our research effort among equity, fixed-income, and macroeconomic analysts, we maximize the impact of our research

for the benefit of all our investors.

? Our model portfolios are 100% actively-managed. All underlying funds-both equities and fixed income-are actively managed. We believe, and our

experience has proven, that long-term, active investing done well can provide certain advantages for investors. These advantages can include

strong results in up markets and capital preservation in declining markets.

For more information on Portfolio Managers, please refer to this manager¡¯s Form ADV wealth-investmentsolutions/advbrochures.

Please see the 'Additional Disclosures' section for information on the 'Model Portfolio Provider'

The subsequent pages contain important disclosures and a glossary of terms. Information as of June 30, 2024, unless otherwise noted and is subject to change.

Page 2 of 10

Amer Fds Ret Income Cons MAPS (AFV-1)

Style: Global Multi Asset GIMA Status: Approved Program Inception: 01/25/2018 Strategy Minimum: $5,000

Portfolio's Equity Sector Weightings

Portfolio Statistics

06/24

Cap Grp Index***

¡ª

3.0%

¡ª

¡ª

¡ª

¡ª

¡ª

17.97x

¡ª

¡ª

¡ª

¡ª

¡ª

Mega capitalization ?

0.0%

0.0%

0.0%

Large capitalization ?

0.0%

0.0%

0.0%

Medium capitalization ?

0.0%

0.0%

0.0%

Small capitalization ?

0.0%

0.0%

0.0%

Micro capitalization ?

0.0%

0.0%

0.0%

¡ª

6.41 yrs.

Dividend Yield

Distribution Rate

Wtd avg P/E ratio ?

Wtd avg portfolio beta

Avg maturity

558

7.04 yrs.

06/24

Product Name

%

Weight (%)

Sector Breakdown

Energy

Cap Grp Index***

7.44

0.00

12/23

Cap Grp

7.81

Materials

3.64

0.00

3.95

11.51

0.00

11.32

5.74

0.00

5.70

Broadcom Inc

1.8

Industrials

Microsoft Corp

1.6

Consumer Discretionary

Fncl 6.5 Umbs Tba 07-01-54

1.5

Consumer Staples

10.24

0.00

11.00

Philip Morris International Inc

1.0

Health Care

12.84

0.00

13.96

Jpmorgan Chase & Co

0.8

Financials

16.38

0.00

16.41

Information Technology

16.63

0.00

14.01

Communication Services

5.17

0.00

5.04

Utilities

6.53

0.00

6.27

Real Estate/REITs

3.88

0.00

4.53

Cash/Cash Equivalents

3.70

0.00

4.89

?High Grade Corporates

?The P/E used here is calculated by the harmonic mean.

?Total may not equal 100% due to rounding.

***Index : 60% BC Agg / 30% SP500 / 10% MSCI ACWI exUS Net

+

03/24

12/23

09/23

Sector breakdown by style (%)

06/24

Portfolio's Top Five Security Holding's

Portfolio's Allocation History (%)

12/23

Cap Grp

¡ª

Number of security holdings

+

Fixed Income Sector Distribution (%)

Mortgage-Backed Securities

U.S. Treasury

Industrials

Financials

Asset-Backed Securities

Emerging Debt

Utilities

Foreign Bonds

Convertibles

Municipals

U.S. Agencies

Other

Collateralized Mortgage

Obligations

The subsequent pages contain important disclosures and a glossary of terms. Information as of June 30, 2024, unless otherwise noted and is subject to change.

+

06/24

03/24

12/23

09/23

32.95

23.99

18.60

9.50

5.22

3.59

2.70

1.26

1.04

0.65

0.26

0.23

0.01

34.45

25.65

16.82

9.10

4.81

3.05

2.70

1.36

1.02

0.59

0.24

0.20

0.01

34.52

26.29

16.82

8.99

4.73

2.66

2.62

1.32

0.98

0.61

0.26

0.19

0.01

33.19

27.75

16.67

8.61

4.96

2.77

2.58

1.52

0.95

0.60

0.27

0.12

0.01

Page 3 of 10

Amer Fds Ret Income Cons MAPS (AFV-1)

Style: Global Multi Asset GIMA Status: Approved Program Inception: 01/25/2018 Strategy Minimum: $5,000

Strategy Inception Date: 09/2015 ? Morgan Stanley Composite Date: 07/2018 ?

Average Annual Total Return (%) - Periods Ending 06/30/24

16.00

Rate of Return (%)

12.00

8.00

4.00

0.00

-4.00

1Yr

3Yr

5Yr

Cap Grp (Gross)

1yr

7.24

3yr

0.87

5yr

4.24

Cap Grp (Net)

5.09

-1.12

Primary Benchmark

9.86

1.29

Calendar-Year Performance (%)

2023

2022

1

2021

Since Inception

10yr

NA

Inception

4.96

2.18

NA

2.89

5.17

5.25

5.89

Portfolio Quarterly Returns (%)

2020

2019

2018

2017

2024

2022

2021

2020

2019

2018

2017

2016

2.35

-3.17

1.65

-6.29

5.69

-1.65

2.89

3.24

1.85

-3.67

1.14

-6.75

5.18

-2.13

2.39

2.72

0.11

-6.94

3.45

7.31

2.59

0.44

1.94

2.71

-0.39

-7.43

2.95

6.79

2.08

-0.06

1.43

2.20

-2.94

-5.80

-0.26

2.54

1.22

1.35

2.36

1.13

-3.42

-6.26

-0.75

2.04

0.72

0.84

1.85

0.63

Quarter 4

Gross

7.49

6.32

3.80

5.62

3.42

-2.77

1.82

-0.78

1.92

Net

6.94

5.80

3.29

5.08

2.91

-3.27

1.31

-1.28

1.43

2016 2015*

Cap Grp (Gross)

6.89

-9.76

8.87

8.91

13.51

-2.66

9.32

6.39

1.92

Cap Grp (Net)

4.79 -11.55

6.73

6.78

11.28

-4.59

7.16

4.28

1.43

12.53 -14.65

7.95

12.47

16.62

-2.47

11.10

5.63

2.10

Primary Benchmark

10Yr

*09/01/2015-12/31/2015

Manager

Transition

Select UMA

1. 60% BC Agg / 30% S&P 500 / 10% MSCI ACWI ex US Net Index was used as the Primary

Benchmark, the 90-Day T-Bills Index as the Risk-free Benchmark

2. For more information on these dates please see the Glossary of Terms section

Quarter 1

Gross

2.17

Net

1.66

Quarter 2

Gross

0.60

Net

0.09

Quarter 3

Gross

Net

2023

2015

See important notes and disclosures pages for a discussion of the sources of the performance data used to calculate the performance results and related analyses shown above.

The subsequent pages contain important disclosures and a glossary of terms. Information as of June 30, 2024, unless otherwise noted and is subject to change.

Page 4 of 10

Amer Fds Ret Income Cons MAPS (AFV-1)

Style: Global Multi Asset GIMA Status: Approved Program Inception: 01/25/2018 Strategy Minimum: $5,000

Portfolio's Risk Statistics - Periods Ending 06/30/24 1 2

Risk Considerations

Investing in securities entails risks, including: Equity portfolios are subject to the basic stock market risk that a

particular security, or securities in general, may decrease in value. Equity securities' prices may fluctuate in

response to specific situations for each company, industry, market conditions and general economic

environment. Investing in foreign markets entails greater risks than those normally associated with domestic

markets such as foreign political, currency, economic and market risks. These risks are magnified in countries

with emerging markets, since these countries may have relatively unstable governments and less established

markets and economics. Companies paying dividends can reduce or cut payouts at any time. Growth investing

does not guarantee a profit or eliminate risk. The stocks of these companies can have relatively high valuations.

Because of these high valuations, an investment in a growth stock can be more risky than an investment in a

company with more modest growth expectations. Value investing does not guarantee a profit or eliminate risk.

Not all companies whose stocks are considered to be value stocks are able to turn their business around or

successfully employ corrective strategies which would result in stock prices that do not rise as initially

expected. Fixed Income securities may be sensitive to changes in prevailing interest rates. When rates rise the

value generally declines. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the

debt at its option, fully or partially, before the scheduled maturity date. Bonds rated below investment grade

may have speculative characteristics and present significant risks beyond those of other securities, including

greater credit risk and price volatility in the secondary market. If a strategy expects to hold a concentrated

portfolio of a limited number of securities, it should be noted that a decline in the value of these investments

would cause the portfolio¡¯s overall value to decline to a greater degree than that of a less concentrated portfolio.

To the extent that this manager employs ESG practices, ESG investments in a portfolio may experience

performance that is lower or higher than a portfolio not employing such practices. Please refer to the Disclosure

section for additional ESG considerations.

Rate of Return (%)

2

Standard Deviation

3 Year

5 Year

8.95%

8.64%

10.39%

9.97%

Sharpe Ratio

-0.26

0.23

Sharpe Ratio of Primary Benchmark

-0.18

0.30

-0.77%

-0.51%

Standard Deviation of Primary Benchmark

Alpha

Beta

Downside Risk

R-Squared

Tracking Error

Information Ratio

Risk/Return Analysis

2

0.83

0.85

2.24%

2.09%

0.91

0.93

3.06%

2.67%

-0.14

-0.35

- 5 Years Ending 06/30/24

10

10

Rate of Return (%)

Rate of Return (%)

8

5

0

6

4

2

-5

0

0

2

4

6

8

10

Standard Deviation (%)

-10

2019*

*07/01/19-12/31/19

2020

2021

2022

2023

2024**

**01/01/24-06/30/24

1. Statistics are calculated using gross of fee performance only.

2. 60% BC Agg / 30% S&P 500 / 10% MSCI ACWI ex US Net Index was used as the Primary Benchmark, the 90-Day

T-Bills Index as the Risk-free Benchmark

STD

ROR

Cap Grp (Gross)

8.64

4.24

Cap Grp (Net)

8.61

2.18

Primary Benchmark

9.97

5.17

Risk-free Benchmark

1.13

2.22

The subsequent pages contain important disclosures and a glossary of terms. Information as of June 30, 2024, unless otherwise noted and is subject to change.

Page 5 of 10

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download