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Denver
Investment Advisors LLC is a registered investment adviser with the SEC.
When evaluating Denver Investment Advisors' investment performance data,
it is important to consider the following:
Denver
Investment Advisors claims compliance with the Global Investment
Performance Standards (GIPS®).
Two sets of performance results are presented: gross and
net of investment advisory fees. Figures have been reported
gross of fees because management fees vary by size of account
and because industry databases typically compare performance
prior to management fees. Gross results are also useful
for comparison with other managers or with published benchmarks
and indices. Results are reported net of fees to show the
impact of fees on performance. Gross of fees returns are
calculated gross of management and custodial fees and net
of transaction costs. Net of fees returns are calculated
net of management fees and transaction costs and gross of
custodian fees. Individuals communicating Denver Investment
Advisors' performance data to a third party must disclose
all of the above information, including performance net
of investment advisory fees.
Total returns for accounts are presented using the accrual
basis of accounting. Valuations and returns are computed
and stated in US$. Performance is calculated net of withholding
taxes on foreign dividends and interest.
When performance results are from a composite, there is
no guarantee that the performance of any one specific account
will be identical. There is no assurance that past performance
is predictive of future performance. While the investment
objective of an individual style is to provide profits,
there is a possibility for losses.
Additional information regarding policies for calculating
and reporting returns is available on request.
Examination of Composites
Performance data receives a semi-annual examination
by an independent firm (report available upon request).
The Selection of Indices
Each investment style is presented with an index for performance
comparison. Detailed similarities and differences between
a style and a particular index are available upon request.
No single index will precisely reflect a particular investment
style; thus, the performance results of the indices chosen
should be used for informational purposes only. In addition,
the periods shown are for comparative purposes, and it should
not be assumed that performance was identical in other periods
not shown. These indices are unmanaged and do not include
potential commissions, fees, or other transaction costs.
The EAFE indices are net of foreign withholding taxes.
To receive a complete list and description of all firm
composites and/or a presentation that adhere to GIPS®
contact:
Denver Investment Advisors LLC, Institutional Marketing
1225 17th Street, 26th Floor Denver, CO 80202
e-Mail: marketing@denveria.com
Website: www.denveria.com
Phone: 303.312.5000 Fax: 303.312.4900
See
our complete GIPS® Compliance Verification Statement
in PDF format below.
GIPS®
Compliance Verification Statement
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