DOLAN MCENIRY CORE PLUS COMPOSITE

DATA THROUGH FEBRUARY 28, 2017

Year
Total
Firm 
Assets
(USD Millions)
Composite 
Assets
(USD Millions)
Composite 
Percent of Firm Assets
Composite 
Accounts at Year-End
Composite
Gross Annual Return
Composite
Net Annual Return
Bloomberg Barclays U.S. Aggregate Annual Return
Bloomberg Barlcays Intermediate Credit Annual Return
Composite Dispersion
3-Yr Annualized St Deviation
Dolan McEniry 
Core Plus
Bloomberg Barlcays US Aggregate
Bloomberg Barlcays ntermediate Credit
1997*
125
19.2
15.4%
2
3.45%
3.36%
2.94%
1.92%
0.09%
 
 
 
1998
228
60.6
26.6%
10
8.18%
7.83%
8.69%
8.29%
0.52%
 
 
 
1999
373
54.3
14.6%
12
2.13%
1.78%
-0.82%
0.16%
0.66%
 
 
 
2000
389
155.1
39.9%
22
9.35%
9.00%
11.63%
9.46%
1.18%
 
 
 
2001
338
207.1
61.3%
22
9.29%
8.94%
8.44%
9.77%
0.70%
 
 
 
2002
397
283.2
71.3%
24
12.35%
11.95%
10.26%
10.14%
0.57%
 
 
 
2003
674
441.7
65.5%
34
7.92%
7.56%
4.10%
6.91%
0.74%
 
 
 
2004
776
532.4
68.6%
40
5.39%
5.06%
4.34%
4.08%
0.44%
 
 
 
2005
1,051
844.4
80.3%
61
1.80%
1.47%
2.43%
1.42%
0.19%
 
 
 
2006
1,116
909.3
81.5%
58
5.41%
5.09%
4.33%
4.49%
0.39%
 
 
 
2007
1,181
957.7
81.1%
71
7.18%
6.86%
6.97%
5.60%
0.27%
 
 
 
2008
1,182
1,047.9
88.7%
57
-2.91%
-3.21%
5.24%
-2.76%
2.28%
 
 
 
2009
1,969
1,499.5
76.2%
111
22.81%
22.46%
5.93%
15.93%
2.61%
 
 
 
2010
2,365
1,774.3
75.0%
180
10.02%
9.71%
6.54%
7.76%
0.52%
 
 
 
2011
2,873
2,158.0
75.1%
231
7.90%
7.60%
7.84%
5.37%
0.67%
3.60%
2.78%
3.85%
2012
3,939
2,688.1
68.2%
413
8.37%
8.08%
4.21%
8.10%
0.59%
2.56%
2.38%
2.85%
2013
4,063
2,792.1
68.7%
569
3.98%
3.69%
-2.02%
-0.17%
0.46%
2.63%
2.71%
3.00%
2014
4,939
3,393.1
68.7%
569
5.01%
4.72%
5.97%
4.16%
0.28%
2.30%
2.63%
2.66%
2015
4,903
3,235.3
66.0%
619
1.62%
1.34%
0.55%
0.90%
0.29%
2.59%
2.88%
2.58%
2016
5,886
3,201.3
54.4%
793
6.48%
6.20%
2.65%
3.68%
0.43%
2.59%
2.98%
2.47%
YTD 2017
6,091
3,243.9
53.3%
821
1.65%
1.60%
0.87%
1.10%
 
 
 
 
MONTH    
0.90%
0.88%
0.67%
0.72%
 
 
 
 
LAST 12 MONTHS   
7.39%
7.11%
1.42%
3.67%
 
 
 
 
LAST 2 YEARS    
4.10%
3.82%
1.46%
2.16%
 
 
 
 
LAST 3 YEARS    
4.19%
3.91%
2.64%
2.67%
 
 
 
 
LAST 5 YEARS    
4.95%
4.66%
2.24%
2.98%
 
 
 
 
LAST 7 YEARS    
6.04%
5.74%
3.47%
4.08%
 
 
 
 
LAST 10 YEARS    
6.85%
6.55%
4.28%
4.68%
 
 
 
 
LAST 15 YEARS    
6.74%
6.42%
4.52%
4.93%
 
 
 
 
SINCE INCEPTION (09/30/1997)
6.97%
6.64%
5.15%
5.39%
 
 
 
 

 

Disclosures
Returns for periods exceeding 12 months are annualized.
 
Compliance Statement
Dolan McEniry Capital Management, claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. Dolan McEniry Capital Management has been independently verified for the periods September 30, 1997 through December 31, 2015. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm’s policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Dolan McEniry Core Plus Composite has been examined for the periods September 30, 1997 through December 31, 2015. The verification and performance examination reports are available upon request.
 
Past performance is no guarantee of future results (please see composite disclosures).
*Dolan McEniry Core-Plus Inception date is 09/30/1997, so 1997 is a three month period.
 
Definition of the Firm
Dolan McEniry Capital Management, LLC is an independent investment management firm established in 1997 and is an SEC registered investment adviser.  Registration of an adviser does not imply a certain level of skill or training.  Dolan McEniry Capital Management, LLC  manages fixed income accounts utilizing Dolan McEniry’s specific strategies for institutional and individual clients.  Additional information regarding the firm’s policies and procedures for calculating and reporting performance returns is available upon request.
 
Definition of the Composite
Dolan McEniry Core Plus is a fixed income investment product benchmarked against the Bloomberg Barclays U.S. Aggregate Index or the Bloomberg Barclays U.S. Intermediate Credit Index. In this strategy, the firm utilizes U.S. corporate investment grade, high yield and U.S. Treasury securities. Dolan McEniry Core Plus is approximately 80% investment grade corporate bonds and 20% high yield corporate bonds. The Dolan McEniry Core Plus Composite was established and created on September 30, 1997.
 
All returns are based in U.S. dollars and computed using a time-weighted total return. The composite includes all fee paying, discretionary accounts that are managed according to Dolan McEniry’s Core Plus strategy. We began including accounts that are valued under $1,000,000 USD in the composite as of 12/31/2009.  Prior to 12/31/2009 an account had to have a value over $1,000,000 USD to be included in the composite.
 
Bundled fee assets as percentage of composite assets are as follows:
 
Year 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002-1997
% of bundled fee
portfolios
in the composite
35.5 32.5 28.0 31.0 27.0 15.1 15.4 11.0 4.0 11.0 9.4 8.4 6.4 2.1 0.0

 

 

 

 

The bundled fee may consist of custodian fees, administrative fees, etc. 

 
Prior to the inception of the Dolan McEniry Credit composite (12/31/08) the Dolan McEniry Core plus composite was referred to as the “Taxable Fixed Income Composite.” Accounts are included in the composite after they have been under-management for three months. There are no non fee paying accounts in the composite. Composite returns are asset weighted individual portfolios computed monthly. The Dolan McEniry Core Plus composite includes both price performance and coupon/dividend income as does the Bloomberg Barclays U.S. Aggregate Index.
 
Benchmarks
Bloomberg Barclays U.S. Aggregate Index
The index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The index includes Treasuries, government-related and corporate securities, MBS (agency fixed-rate and hybrid ARM pass-throughs), ABS, and CMBS (agency and non-agency).
 
List of Composites
A complete listing and description of all composites is available upon request.
 
Dispersion
The dispersion of annual returns is measured by the asset weighted standard deviation across portfolio returns represented within the composite for the full year.
 
Performance
Gross returns are presented gross of management fees, custodial fees, and withholding taxes, but net of direct trading expenses. Net-of-fee returns are net of actual investment management fees and direct trading expenses. The Dolan McEniry performance reflected above is not necessarily indicative of future results and, as a composite of different accounts, does not necessarily reflect the exact performance of any specific account.
 
Management
Prior to March 31, 2001, Daniel D. Dolan, Jr. was responsible for the investment management process of this composite.  As of April 1, 2001, Roger S. McEniry, joined the investment management process of this composite.
 
Fee Schedule
Dolan McEniry Capital Management, LLC’s standard fee is 0.40% (40bp) of assets under management for accounts over $5,000,000 USD.
 
Disclaimer
Investing is speculative and involves risk, including the possible loss of principal. Historical returns should not be used as the primary basis for investment decisions.  This product should be considered based on the suitability of its strategy in relation to return objectives, risk tolerances, and other investments.  Although the statements of fact and data in this document have been obtained from or based upon sources believed to be reliable, Dolan McEniry Capital Management, LLC makes no warranties or representation as to their accuracy, correctness, or reliability, and assumes no liability or responsibility for any omissions or errors.