Important Disclosures

MSCI Disclaimer:

None of the MSCI information is intended to constitute investment advice or a recommendation to make (or refrain from making) any kind of investment decision and may not be relied on as such. Historical data and analysis should not be taken as an indication or guarantee of any future performance analysis, forecast or prediction. The MSCI information is provided on an “as is” basis and the user of this information assumes the entire risk of any use made of this information. MSCI, each of its affiliates and each other person involved in or related to compiling, computing or creating any MSCI information (collectively, the “MSCI Parties”) expressly disclaims all warranties (including, without limitation, any warranties of originality, accuracy, completeness, timeliness, non-infringement, merchantability and fitness for a particular purpose) with respect to this information (or the results to be obtained by the use thereof). Without limiting any of the foregoing, in no event shall any MSCI Party have any liability for any direct, indirect, special, incidental, punitive, consequential (including, without limitation, lost profits) or any other damages. The MSCI data may not be further redistributed, disseminated or used to create indices or financial products. (www.msci.com)

Disclosures and Additional Risk Information:

Please see our risk disclosures included in the form ADV here.

Definitions:

Below is a list of terminology often used by Paradice in our advertising materials. Definitions reflect how Paradice generally intends to utilize such terminology and are provided for informational purposes.

Active Share is a statistic used to measure the percentage of the portfolio that differs from the benchmark index, with 100% implying no overlap with the benchmark and 0% implying total overlap.

The compound annual growth rate (CAGR) is the rate of return (RoR) that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested at the end of each period of the investment’s life span.

Consumer Price Index (CPI) is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.

The dividend yield, expressed as a percentage, is a financial ratio (dividend/price) that shows how much a company pays out in dividends each year relative to its stock price. 

Earnings before interest, taxes, and amortization (EBITA) is a measure of company profitability.

Earnings Per Share (EPS) is a company’s net profit divided by the number of common shares it has outstanding.

Fiscal Year (FY) and Calendar Year (CY) generally when Paradice LLC refers to FY it is the 12 months ending June 30 or is specific to a separate entities FY or is otherwise specified. When referring to CY this is the 12 month period ending December 31.

The goods and services tax (GST) is a value-added tax (VAT) levied on most goods and services sold for domestic consumption.

Gross Domestic Product (GDP) is a monetary measure of the market value of the final goods and services produced and sold in a specific time period by a country or countries.

The internal rate of return (IRR) is a metric used to estimate the profitability of potential investments.

The term mergers and acquisitions (M&A) refers to the consolidation of companies or their major business assets through financial transactions between companies.

A non-fungible token (NFT) is a unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership.

OPEC+ is a group of 23 oil-exporting countries which meets regularly to decide how much crude oil to sell on the world market. At the core of this group are the 13 members of OPEC (the Organization of the Oil Exporting Countries).

A P/E ratio (P/E) takes the stock price divided by the company’s earnings per share for a designated period and conveys how much investors will pay per share for $1 of earnings.

The price-to-book (P/B) ratio measures the market’s valuation of a company relative to its book value.

Profit and loss (P&L) statement is one of the three types of financial statements prepared by companies.

Real Estate Investment Trusts (REIT).

Return on assets (ROA) is a profitability ratio that provides how much profit a company is able to generate from its assets. ROA is shown as a percentage, and the higher the number, the more efficient the company is at managing its balance sheet to generate profits. 

Return on capital employed (ROCE) is a financial ratio companies use to gauge their performance. ROCE is an indicator of a company’s efficiency because it measures the company’s profitability after factoring in the capital used to achieve that profitability.

Return on equity (ROE) is expressed as a percentage and is a measure of financial performance calculated by dividing net income by shareholders’ equity (which is equal to a company’s assets minus its debt). ROE is considered a gauge of a corporation’s profitability and how efficient it is in generating profits. 

Return on invested capital (ROIC) is a calculation used to assess a company’s efficiency in allocating capital to profitable investments.

The rate of return (ROR) is the net gain or loss of an investment over a specified time period, expressed as a percentage of the investment’s initial cost.

Special Purpose Acquisition Company (SPAC) is a company without commercial operations and is formed to raise capital through an initial public offering for the purpose of acquiring or merging with an existing company.

Intended Audience:

Paradice’s advertising materials (including this website) are intended for institutional and other qualified investors only. This includes such audiences as companies or organizations that invest or manage money on behalf of others, pension or superannuation plans, profit-sharing plans, foundations, endowments or charities, family offices, government or municipal funds, qualified purchasers, accredited investors, consultants or databases where the underlying recipients are listed here, or any other entity that would reasonably share characteristics with these audiences.