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Ending amounts as of December 31, 2014, based on five different actions taken on October 31, 1987.
Source: PFS Investments Inc. and Morningstar. The chart above illustrates a hypothetical investment of $10,000 invested in an investment that performed similar to the S&P 500 TR Index on August 31, 1987, near the market high, and then the subsequent financial impact of various investment strategies on a portfolio implemented on October 31, 1987, after the market crash on October 19, 1987 through December 31, 2014. Investors 4 & 5’s monthly contributions began November 30, 1987. The Standard & Poor’s 500 ®, which is an unmanaged group of securities, is considered to be representative of the stock market in general. An investor cannot invest directly in an index. The average annualized return of the S&P 500
from the period 12/31/86 - 12/31/14 was 10.42%.
The performance data quoted represents past performance. Past Performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted in the chart above.
The performance data quoted does not reflect the deduction of the sales load or fee, which if reflected, would reduce the performance quoted. The investor 2&4 examples use Western Asset Liquid Reserves N (CIRXX) as the basis for their dollar values (USD). The performance data current to the most recent month end can be found on www.leggmason.com/individual investors by entering ‘CIRXX’ into the ‘Jump to a Product’ search tool. The month end current 7 day yield was 0.1% as of October 31, 2014.
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the
value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Systematic investing cannot assure a profit or protect against loss in declining markets. Since systematic investing involves continuous investments over time regardless of fluctuating price levels, the investor should consider his or her ability to continue to invest in periods of low price levels. The value of stocks will fluctuate based on market conditions. Stocks are not insured.