First Republic Investment Management, a subsidiary of First
Republic Bank (NYSE:FRC), today announced the launch of the FRC
Founders Index FundSM (Bloomberg:FNDRX), a fund which seeks to
provide investment results that correspond generally to the total
return performance, before fees and expenses, of the First Republic
Founders IndexSM (Bloomberg:FRCFDR).
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the full release here:
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Post-Launch: Initial Performance First
Republic Founders IndexSM and the S&P 500, Russell 3000 and
Russell 1000 EW Initial cumulative performance, from the Index
launch on October 7, 2019, through close on July 27, 2020 (Source:
IHS Markit)
“We believe the FRC Founders Index FundSM distinctively captures
the drive, resilience, and commitment to culture and a long-term
vision that founder-led and -influenced companies inherently
possess,” said Jim Herbert, Founder, Chairman and CEO of First
Republic. “Initial performance of the First Republic Founders
IndexSM supports our thesis that founder-led and -influenced
companies generate superior results.”
Since its launch on October 7, 2019, and through close on July
27, 2020, the First Republic Founders IndexSM (Bloomberg:FRCFDR) is
up 16.0%, compared to the S&P 500® up 12.0%, the Russell 3000®
up 11.7%, and the Russell 1000® Equal Weight up 4.7%.
“The First Republic Founders IndexSM isolates the founder
influence factor in a unique way,” said Bob Thornton, President of
Private Wealth Management at First Republic. “We believe our
research team has been able to capture and quantify the positive
attributes and strategic advantage of founder-led and -influenced
companies.”
FRCFDR is an equal weighted benchmark of publicly traded
companies in which the founder or founders are actively involved
and a key influence in their company’s strategy. Highlights of the
Index include pure exposure to founder-led and founder-influenced
strategy; broad representation, with companies historically
delivering higher gross margins across most sectors; and an
objectively driven and rules-based approach to capture unique
characteristics and potential outperformance.
The FRC Founders Index FundSM (Bloomberg:FNDRX) is offered
exclusively to First Republic clients, through its Private Wealth
Management subsidiaries.
First Republic Private Wealth Management, which includes First
Republic Investment Management along with brokerage and trust
services, had $155.8 billion in wealth management assets as of June
30, 2020. To learn more about First Republic Private Wealth
Management, visit our website here, and to learn more about the FRC
Founders Index FundSM, click here. FRC Founders Index FundSM is an
investment company registered under the Investment Company Act of
1940, as amended, and the Securities Act of 1933, as amended.
About First Republic
Founded by Jim Herbert, Chairman and CEO, in 1985, First
Republic and its subsidiaries offer private banking, private
business banking and private wealth management, including
investment, trust and brokerage services. First Republic
specializes in delivering exceptional, relationship-based service
and offers a complete line of products, including residential,
commercial and personal loans, deposit services, and wealth
management. Services are offered through preferred banking or
wealth management offices primarily in San Francisco, Palo Alto,
Los Angeles, Santa Barbara, Newport Beach and San Diego,
California; Portland, Oregon; Boston, Massachusetts; Palm Beach,
Florida; Greenwich, Connecticut; New York, New York; and Jackson,
Wyoming. First Republic is a constituent of the S&P 500 Index
and KBW Nasdaq Bank Index. For more information, visit
firstrepublic.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements in this press release that are not historical
facts are hereby identified as “forward-looking statements” for the
purpose of the safe harbor provided by Section 21E of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”).
Any statements about our expectations, beliefs, plans, predictions,
forecasts, objectives, assumptions or future events or performance
are not historical facts and may be forward-looking. These
statements are often, but not always, made through the use of words
or phrases such as “anticipates,” “believes,” “can,” “could,”
“may,” “predicts,” “potential,” “should,” “will,” “estimates,”
“plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends”
and similar words or phrases. Accordingly, these statements are
only predictions and involve estimates, known and unknown risks,
assumptions and uncertainties that could cause actual results to
differ materially from those expressed in them.
All forward-looking statements are necessarily only estimates of
future results, and there can be no assurance that actual results
will not differ materially from expectations, and, therefore, you
are cautioned not to place undue reliance on such statements. Any
forward looking statements are qualified in their entirety by
reference to the factors discussed throughout our public filings
under the Exchange Act. Further, any forward-looking statement
speaks only as of the date on which it is made, and we undertake no
obligation to update any forward-looking statement to reflect
events or circumstances after the date on which the statement is
made or to reflect the occurrence of unanticipated events.
Indices
The S&P 500 Index® is a market
capitalization-weighted index of the 500 largest U.S. publicly
traded companies. The Russell 3000® Index is a market
capitalization-weighted equity index that tracks the performance of
the 3,000 largest U.S.-traded stocks. The Russell 1000®
Index, a subset of the Russell 3000® Index, represents the
1,000 top companies by market capitalization in the U.S. The
First Republic Founders IndexSM is an equity benchmark of
more than 400 publicly traded companies in which the founder or
founders are actively involved and a key influence in its strategy.
Active involvement is defined as the founder or founders serving in
a key executive role and/or on the company’s board of
directors.
Availability of Additional Information
Investors should carefully consider the investment objectives,
risks and charges and expenses of FRC Founders Index FundSM (the
“Fund”) before investing. The Fund’s prospectus contains
information about the investment objectives, risks and charges and
expenses of the Fund and other information. The prospectus is
available by clicking here. The Fund’s prospectus should be read
carefully before investing.
Mutual fund investing involves risk. Principal loss is
possible. Derivatives involve special risks including correlation,
counterparty, liquidity, operational, accounting and tax risks.
These risks, in certain cases, may be greater than the risks
presented by more traditional investments. Due to their inclusion
in the Russell 3000 Index, the Fund may invest in foreign
securities which involve greater volatility and political, economic
and currency risks and differences in accounting methods. These
risks are greater in emerging markets. The Fund is subject to the
risk of concentrating investments in an industry or group of
industries to the extent the Index is so concentrated which makes
it more susceptible to factors adversely affecting issuers within
that industry than would a fund investing in a more diversified
portfolio of securities. Small- and medium-capitalization companies
tend to have limited liquidity and greater price volatility than
large-capitalization companies. Earnings growth is not
representative of the fund’s future performance.
The FRC Founders Index FundSM is distributed by Quasar
Distributors, LLC.
Use of Third-Party Information and Other Information
Certain information contained in this press release has been
obtained from third-party sources. While such information is
believed to be reliable for the purposes used herein, First
Republic Investment Management, Inc. (“First Republic Investment
Management”) has not independently verified such information and
First Republic Investment Management makes no representation or
warranty, express or implied, as to the accuracy or completeness of
the information contained herein. Certain economic and market
conditions contained herein has been obtained from published
sources and/or prepared by third parties and in certain cases has
not been updated through the date hereof. All information contained
herein is subject to revision and the information set forth herein
does not purport to be complete.
Unless otherwise noted, the information contained herein has
been compiled as of July 27, 2020, and there is no obligation to
update the information. The delivery of this press release will
under no circumstances create any implication that the information
herein has been updated or corrected as of any time subsequent to
the date of publication or, as the case may be, the date as of
which such information is stated.
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Investors: Andrew Greenebaum / Lasse Glassen Addo Investor
Relations agreenebaum@addoir.com lglassen@addoir.com (310)
829-5400
Media: Greg Berardi Blue Marlin Partners
greg@bluemarlinpartners.com (415) 239-7826
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