The composite includes all taxable and tax-exempt, fully discretionary accounts with global investment objectives and assets greater than $500,000. Results commenced on 08/31/2009 with returns from La Jolla Economics PSP, a non-management-fee paying account managed by Victor A. Canto, PhD from 08/31/2009 to 06/30/2017. At 12/31/2017, the composite comprised of eleven accounts totaling $9.98 million, representing .8% of total assets under management. After 06/30/2017 the GPS 60/40 composite includes all fully-discretionary, fee-paying accounts in this strategy above $500,000. Net returns are net of Cadinha & Co., LLC advisory fees, brokerage commissions, and wrap fees, where applicable. Returns are inclusive of dividends and other earnings. Returns may differ from other accounts managed by Cadinha & Co., LLC due to different objectives, guidelines, and restrictions. Past performance is no guarantee of future results. Leverage has not been used. 

Cadinha & Co. Institutional Services is GIPS® compliant. Cadinha & Co. Institutional Services has been independently verified through 12/31/2017. The verification is available on request.

All Risk/Return metrics are calculated based on gross returns from 12/31/2017 and may change over time. The benchmark is the 60% MSCI World (ACWI) Index TR / 40% Bloomberg Barclays Aggregate Bond Index, balanced monthly. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. 

The information about a representative account is for illustrative purposes only.