Category Archives: Newsletters

VL Capital 2Q 2018 Newsletter

For the three months ending June 30, 2018, the VL Capital Systematic U.S. Equity Strategy returned 4.50%, net of management fees, while the benchmark S&P 500 Index returned 2.93%. Year-to-date, the Systematic U.S. Equity Strategy returned 3.77%, while the S&P 500 returned 1.67%. The single largest contributor to performance during the second quarter was Applied […]

VL Capital 1Q 2018 Newsletter

For the three months ending March 31, 2018, the VL Capital Systematic U.S. Equity Strategy returned -0.69%, net of management fees, while the benchmark S&P 500 Index returned -1.22%. The single largest contributor to performance during the first quarter was Energizer Holding, Inc. (NYSE:ENR), which returned 23.10%. Energizer, the well-known battery maker, saw significant share […]

VL Capital 4Q 2017 Newsletter

For the three months ending December 31, 2017, the VL Capital Systematic U.S. Equity Strategy returned 3.41%, net of management fees, while the benchmark S&P 500 Index returned 6.12%. For the full year, the Systematic U.S. Equity Strategy returned 7.63%, while the S&P 500 returned 19.42%. The single largest contributor to performance during the fourth […]

VL Capital 3Q 2017 Newsletter

For the three months ending September 30, 2017, the VL Capital Systematic U.S. Equity Strategy returned -4.05%, net of management fees, while the benchmark S&P 500 Index returned 3.96%. Year-to-date, the VL Capital Systematic Value Strategy has returned 4.07%, while the S&P 500 has returned 12.53%. The overall underperformance by the VL Capital Systematic U.S. […]

VL Capital 2Q 2017 Newsletter

For the three months ending June 30, 2017, the VL Capital Systematic U.S. Equity Strategy returned 4.86%, net of management fees, while the benchmark S&P 500 Index returned 2.57%. Year-to-date, the VL Capital Systematic U.S. Equity Strategy has returned 8.46%, while the S&P 500 has returned 8.24%. The single largest contributor to performance during the […]

VL Capital 1Q 2017 Newsletter

For the three months ending March 31, 2017, the VL Capital Systematic U.S. Equity Strategy returned 3.44%, net of fees, while the benchmark S&P 500 Index returned 5.53%. Since inception, the VL Capital Systematic U.S. Equity Strategy has returned 117.00%, net of fees, while the S&P 500 has returned 54.91%. The single largest contributor to […]

VL Capital 4Q 2016 Newsletter

For the three months ending December 31, 2016, the VL Capital Systematic U.S. Equity Strategy returned 11.72%, net of fees, while the benchmark S&P 500 Index returned 3.25%. For the full year, the VL Capital Systematic U.S. Equity Strategy returned 17.16%, while the S&P 500 Index returned 9.54%. The single largest contributor to performance during […]

VL Capital 3Q 2016 Newsletter

For the three months ending September 30, 2016, the VL Capital Systematic U.S. Equity Strategy returned 7.0%, gross of fees, while the benchmark S&P 500 Index returned 3.3%. Year-to-date, the VL Capital Systematic U.S. Equity Strategy returned 5.6%, while the S&P 500 Index returned 6.1%. The single largest contributor to performance during the third quarter […]

VL Capital 2Q 2016 Newsletter

For the three months ending June 30, 2016, the VL Capital Systematic U.S. Equity Strategy returned -5.4%, gross of fees, while the benchmark S&P 500 Index returned 1.9%. Year-to-date, the VL Capital Systematic U.S. Equity Strategy returned -1.3%, while the S&P 500 Index returned 2.7%. Stock market volatility during the second quarter was rather subdued, […]

VL Capital 1Q 2016 Newsletter

During the first quarter, the VL Capital Systematic U.S. Equity Strategy returned 4.1%, net of fees, while the benchmark S&P 500 Index returned 0.8%. Equity markets remained volatile during the quarter, with the S&P 500 reaching a bottom on February 11th and rallying over 11% through the end of March. As we stated last quarter, […]

VL Capital 4Q 2015 Newsletter

During the fourth quarter, the VL Capital Systematic U.S. Equity Strategy returned 2.6%, net of fees, whereas the benchmark S&P 500 Index returned 6.5%. For the full year of 2015, the Systematic U.S. Equity Strategy returned 7.5%, net of fees, while the S&P 500 Index returned -0.7% . Taking a closer look at our performance […]

VL Capital 3Q 2015 Newsletter

During the third quarter, the VL Capital Systematic U.S. Equity Strategy returned -9.1%, gross of fees, whereas the benchmark S&P 500 Index returned -6.9%. Year-to-date, the Systematic U.S. Equity Strategy has returned 7.0%, while the S&P 500 Index has returned -6.8%. While the Systematic U.S. Equity Strategy did decline during the third quarter, the year-to-date […]

VL Capital 2Q 2015 Newsletter

During the second quarter, the VL Capital Systematic U.S. Equity Strategy returned 6.9%, gross of fees, whereas the benchmark S&P 500 Index returned -0.2%. Year-to-date, the Systematic U.S. Equity Strategy has returned 17.5%, while the S&P 500 Index has returned 0.2%. The outperformance of the Systematic U.S. Equity Strategy relative to the S&P 500 clearly […]

VL Capital 1Q 2015 Newsletter

During the quarter, the VL Capital Systematic U.S. Equity Strategy returned 9.88% gross of fees whereas the benchmark S&P 500 Index returned 0.44%. The Systematic U.S. Equity Strategy outperformed the S&P 500 Index over the last three months as winners outpaced losers in the portfolio. As a result, we would like to provide a closer […]

VL Capital 4Q 2014 Newsletter

During the quarter, the VL Capital Systematic U.S. Equity Strategy returned 3.5% gross of fees whereas the benchmark S&P 500 Index returned 4.4%. For the full year, VL Capital’s Systematic U.S. Equity Strategy has returned 11.9% while the S&P 500 Index returned 11.4%. This year has been in line with expectations in terms of performance […]

VL Capital 3Q 2014 Newsletter

During the quarter, the VL Capital Systematic U.S. Equity Strategy returned -1.5% gross of fees whereas the benchmark S&P 500 Index returned 0.6%. Year-to-date, VL Capital’s Systematic U.S. Equity Strategy has returned 8.0% while the S&P 500 Index returned 6.7%. For this past quarter we wanted to take a closer look at the 20 companies […]

VL Capital 2Q 2014 Newsletter

During the quarter, the VL Capital Systematic U.S. Equity Strategy returned -1.3% gross of fees whereas the S&P 500 Index returned 4.7%. Since inception, VL Capital’s Systematic U.S. Equity Strategy has returned 61.1% while the S&P 500 Index returned 25.7%. While performance did lag the benchmark for the quarter, we tend to have a long-term […]

VL Capital 1Q 2014 Newsletter

During the quarter, the VL Capital Systematic U.S. Equity Strategy returned 11.1% whereas the S&P 500 Index returned 1.3%. Since inception, the VL Capital Systematic U.S. Equity Strategy has returned 69.3% while the S&P 500 Index returned 22.8%. In an attempt to examine the portfolio’s performance this quarter, we wanted to provide an analysis of […]

VL Capital 4Q 2013 Newsletter

During the quarter, the VL Capital Systematic U.S. Equity Strategy returned 10.2% whereas the S&P 500 Index returned 9.9%. For the year, the VL Capital Systematic U.S. Equity Strategy returned 52.3% while the S&P 500 Index returned 21.2%. The proprietary stock-selection algorithm we use functions by combining several tested stock evaluation methods derived from both […]