Social Media Important Information & Disclaimers
The Parametric social media accounts are for U.S. residents only and do not constitute offers to sell, or solicitations of offers to purchase, securities or the provision of any services in any jurisdiction to any person to whom it is not lawful to make such an offer.
Parametric, which is not affiliated with X or LinkedIn, is not responsible for and does not endorse or assume liability for content displayed on X, LinkedIn or Facebook other than the posts and information on the Parametric X and LinkedIn profile pages created by Parametric. Parametric does not endorse any third-party sites nor is it associated with the terms of service and privacy policies of X or LinkedIn, or any other third-party sites. Use third-party links and sites at your own risk. The existence of hyperlinks should not be construed as an endorsement, approval or verification by Parametric of any content available on third party websites. By providing access to other websites, we are not recommending the purchase or sale of products or services provided by the website's sponsoring organization. We do not review any of these third party websites.
Users should not submit any confidential or proprietary information or complaints through the Parametric X or LinkedIn accounts. For customer or account issues or complaints please contact us directly at https://www.eatonvance.com/email.php or
Parametric requests that users:
do not post content to any Parametric social media account that may be deemed inappropriate offensive or constitutes a testimonial, advice, recommendation or advertisement for securities, funds, products or services or is promotional in nature.
do not send or post personal, confidential or account information via social media.
Parametric reserves the right to restrict users who don’t follow these guidelines or for any other reason.
Comments and opinions posted by users are the responsibility of the person who posted them and such content does not represent the views of Parametric. Parametric does not endorse, adopt or guarantee the accuracy of content posted by third parties and is not responsible for inaccuracies or errors. Comments may be moderated and will be published at the discretion of Parametric.
Parametric Portfolio Associates® LLC (“Parametric”), headquartered in Seattle, is registered as an investment advisor with the U.S. Securities and Exchange Commission. Registration does not imply a level of skill or training. Parametric is a leading global asset management firm, providing investment strategies and customized exposure management directly to institutional investors and indirectly to individual investors through financial intermediaries. Parametric offers a variety of rules-based investment strategies, including alpha-seeking equity, fixed-income, alternative and options strategies. Parametric also offers implementation services, including customized equity, traditional overlay and centralized portfolio management. Parametric is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley, and offers these capabilities through offices located in Seattle, Boston, Minneapolis, New York City, and Westport, Connecticut.
This information is intended for informational purposes and details investment strategies and opportunities identified by Parametric. Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current
market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. Past performance is not indicative of future results. Investing entails risks and there can be no assurance that Parametric will achieve profits or avoid incurring losses. Parametric and Morgan Stanley do not provide legal, tax or accounting advice or services. Clients should consult with their own tax or legal advisor prior to entering into any transaction or strategy described herein. Additional information is available on request.
The following is a brief summary of some of the risks associated with asset classes that may be mentioned on the Parametric X or LinkedIn pages. It is not an all-encompassing list of the risks that may apply or all asset classes that may be mentioned.
Investments are subject to market risk, which is the possibility that the market values of the securities in an account will decline and that the value of the securities may therefore be less than what you paid for them. Market values can change daily due to economic and other events (e.g. natural disasters, health crises, terrorism, conflicts and social unrest) that affect markets, countries, companies or governments. It is difficult to predict the timing, duration, and potential adverse effects (e.g. portfolio liquidity) of events.
Global market investing, (including developed, emerging and frontier markets) carries additional risks or costs including but not limited to: political, economic, financial market, currency exchange, liquidity, accounting, and trading capability risks. Future investments may be made under different economic conditions, in different securities and using different investment strategies. The currency used in all calculations is the US dollar. Currency exchange may negatively impact performance.
As interest rates rise, the value of a client portfolio invested primarily in fixed-income securities or similar instruments is likely to decline. Conversely, when interest rates decline, the value of such a client portfolio is likely to rise. Securities with longer maturities are more sensitive to changes in interest rates than securities with shorter maturities, making them more volatile. A rising interest rate environment may extend the average life of mortgages or other asset-backed receivables underlying mortgage-backed or asset-backed securities. This extension increases the risk of depreciation due to future increases in market interest rates. In a declining interest rate environment, prepayment of certain types of securities may increase. In such circumstances, the portfolio manager may have to reinvest the prepayment proceeds at lower yields. A strategy that is managed toward an income objective may hold securities with longer maturities and therefore be more exposed to interest rate risk than a strategy focused on total return.
Alternatives and Options:
The effectiveness of the option strategy depends on a general imbalance of natural buyers over natural sellers of index options. This imbalance could decrease or be eliminated, which could have an adverse effect. A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well-conceived and well-executed options programs may be adversely affected by market behavior or unexpected events. Successful options strategies may require the anticipation of future movements in securities prices, interest rates and other economic factors. No assurances can be given that the judgment of Parametric in this respect will be correct.
Options are not suitable for all investors and carry additional risks. Investors must ensure that they have read and understood the current options risk disclosure document before entering into any options transactions. In addition, investors should consult with a tax, legal or financial advisor prior to contemplating any derivative transactions. The options risk disclosure document can be accessed at the following web address: http://www.optionsclearing.com/about/publications/character-risks.jsp.
Environmental, Social, and Governance (ESG) and Responsible Investing:
An environmental, social and governance (“ESG”) or “responsible” investment strategy limits the types and number of investment opportunities available to the investor and, as a result, the investor’s portfolio may underperform other investment strategies that do not have an ESG focus. The ESG investment strategy may result in investments in securities or industry sectors that underperform the market as a whole or underperform other strategies which apply ESG standards. An issuer’s ESG performance or the investment adviser’s assessment of such performance may change over time, which could cause the investor to temporarily hold securities that do not comply with the investor’s responsible investment criteria. In evaluating an investment, the investment adviser is dependent upon information and data that may be incomplete, inaccurate or unavailable, which could adversely affect the analysis of the ESG factors relevant to a particular investment. Successful application of the investor’s responsible investment strategy will depend on the investment adviser’s skill in properly identifying and analyzing material ESG issues. There is no assurance strategies that incorporate ESG factors will result in more favorable investment performance.
Investment strategies that seek to enhance after-tax performance may be unable to fully realize strategic gains or harvest losses due to various factors. Market conditions may limit the ability to generate tax losses. Tax-loss harvesting involves the risks that the new investment could perform worse than the original investment and that transaction costs could offset the tax benefit. Also, a tax-managed strategy may cause a client portfolio to hold a security in order to achieve more favorable tax treatment or to sell a security in order to create tax losses. Prospective investors should consult with a tax or legal advisor before making any investment decision.