We engineer investment strategies across asset classes.

Important Information

The information presented does not involve the rendering of personalized investment, financial, legal, or tax advice.  This presentation is not an offer to buy or sell, or a solicitation of any offer to buy or sell any of the securities mentioned herein.

Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual re-sults and are based primarily upon a hypothetical set of assumptions applied to certain historical financial information. Readers are cautioned that such forward-looking statements are not a guarantee of future results, involve risks and uncertainties, and actual results may differ materially from those statement. Certain information has been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. Any opinions, projections, forecasts, and forward-looking statements presented herein are valid as on the date of this document and are subject to change.

Certain information has been provided by third-party sources and, although believed to be reliable, it has not been independently verified and its accuracy or completeness cannot be guaranteed. Any opinions, projections, forecasts, and forward-looking statements presented herein are valid as on the date of this document and are subject to change.

Investing in international markets carries risks such as currency fluctuation, regulatory risks, economic and political instability. Emerging markets involve heightened risks related to the same factors as well as increased volatility, lower trading volume, and less liquidity.  Emerging markets can have greater custodial and operational risks, and less developed legal and accounting systems than developed markets.

There are inherent risks with fixed income investing.  These risks may include interest rate, call, credit , market, inflation, government policy, liquid-ity, or junk bond.  When interest rates rise, bond prices fall.  This risk is heightened with investments in longer duration fixed-income securities and during periods when prevailing interest rates are low or negative.

Investments in below-investment-grade debt securities which are usually called “high-yield” or “junk bonds,” are typically in weaker financial health and such securities can be harder to value and sell and their prices can be more volatile than more highly rated securities. While these securities generally have higher rates of interest, they also involve greater risk of default than do securities of a higher-quality rating.

Investments in emerging markets bonds may be substantially more volatile, and substantially less liquid, than the bonds of governments, govern-ment agencies, and government-owned corporations located in more developed foreign markets.  Emerging markets bonds can have greater custo-dial and operational risks, and less developed legal and accounting systems than developed markets.

The yields and market values of municipal securities may be more affected by changes in tax rates and policies than similar income-bearing taxable securities.  Certain investors’ incomes may be subject to the Federal Alternative Minimum Tax (AMT) and taxable gains are also possible.

Because the liquidity management strategy will subject investors to principal risk, the strategy shouldn’t be viewed as a substitute for a money market fund.  The strategy’s income will decline because of falling interest rates. Income risk is generally high for this strategy, so investors should expect monthly income to fluctuate.

Concentrating assets in a particular industry, sector of the economy, or markets can increase volatility because the investment will be more suscep-tible to the impact of market, economic, regulatory, and other factors affecting that industry or sector compared with a more broadly diversified asset allocation.

Investments in Master Limited Partnerships (MLP) are susceptible to concentration risk, illiquidity, exposure to potential volatility, tax reporting complexity, fiscal policy and market risk.  Investors of MLPs are subject to increased tax reporting requirements.  MLP investors typically receive a complicated Schedule K-1 form rather than Form 1099.  MLPs may not be appropriate investments for tax-advantaged accounts because of poten-tial negative tax consequences (Unrelated Business Income Tax).

Investments in commodities can be very volatile and direct investment in these markets can be very risky, especially for inexperienced investors.

Alternative investments are speculative, entail substantial risks, offer limited or no liquidity and are not suitable for all investors.  These invest-ments have limited transparency to the funds’ investments and may involve leverage which magnifies both losses and gains, including the risk of loss of the entire investment.  Alternative investments have varying, and potentially lengthy lockup provisions.

All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in  a declining market. Past performance is no guarantee of future performance. 

City National Rochdale, LLC is an SEC-registered investment adviser and wholly-owned subsidiary of City National Bank. Registration as an investment adviser does not imply any level of skill or expertise. City National Bank is a subsidiary of the Royal Bank of Canada.

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