McGowanGroup Asset Management, Inc.
PERFORMANCE REPORT Discounted Cash Flow Method Net of Fees MGAM MASTER ACCOUNT PERFORMANCE From 12-31-07 to 12-31-16 Portfolio Value on 12-31-07 Accrued Interest
183,121,655.45 86,061.32
Contributions
1,119,250,414.38
Withdrawals
-1,014,531,516.80
Transfers In
336,650,229.18
Transfers Out
-245,421,149.48
Realized Gains
16,148,746.09
Unrealized Gains
24,409,611.75
Interest
43,517,270.30
Dividends Change in Accrued Interest Management Fees Portfolio Fees
162,836,919.26 1,469,347.07 -17,294,835.17 -198.55
Portfolio Value on 12-31-16 Accrued Interest
606,694,032.90 1,555,408.39
Total Fees
-17,295,033.72
Total Gain after Fees
231,086,860.75
IRR for 9.00 Years
Annualized IRR
82.15%
6.89%
McGowan Group Asset Management, Inc. is a Federally Registered Investment Advisory Firm utilizing Pershing LLC, a BNY Mellon Company, for asset custody. These results are unaudited and a GIPS compliance audit has not yet been conducted. The summary of values and results is derived from pricing services including the asset custodian and Interactive Data, a third party verification source used continuously since inception. The prices and values shown have been obtained from sources McGowan Group Asset Management, Inc. (MGAM) believes to be reliable, but cannot be completely guaranteed. No representation or warranty is made that any returns indicated will be achieved. Actual results vary for individual client accounts due customization, advisory fee schedules, timing of additions and withdrawals, diversification, length of relationship, and size of positions among other reasons. Past performance is not an assurance of future results. The figures above are net of all management fees and also include reinvestment of dividends and interest. For any questions regarding the above information please contact MGAM Compliance at 214-720.4400.