First Republic Investment Management, a subsidiary of First
Republic Bank (NYSE:FRC), today launched the First Republic
Founders IndexSM (Bloomberg:FRCFDR), a new equity benchmark of
publicly traded companies in which the founder or founders are
actively involved and a key influence in its strategy.(1)
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the full release here:
https://www.businesswire.com/news/home/20191007005812/en/
15-Year Cumulative Performance. First
Republic Founders Index℠ and the Russell 3000 Index (3). Based on
back-testing performed on the 15-year period from 2004 through
2019. Source: First Republic.
As a founder-led firm, First Republic has first-hand experience
in understanding the strength of the entrepreneur’s focus on client
satisfaction, culture, and longer-term results.
“We believe founders’ leadership, drive, clarity of vision, and
strong focus on clients and culture are key strategic advantages in
generating superior performance,” said Jim Herbert, Chairman, CEO
& Founder of First Republic. “Our new First Republic Founders
IndexSM supports this thesis.”
Encompassing more than 300 U.S. equities, the First Republic
Founders IndexSM is intended to track founder-influenced companies
that display certain consistent characteristics including the
ability to move quickly and innovate, commitment to client
satisfaction, focus on culture, and long-term view of the
business.(2) By applying a rules-based, equal-weighted approach,
the First Republic Founders IndexSM is designed to capture these
characteristics of founder-influenced success.
Back-testing, conducted in conjunction with independent
third-party support, found that the First Republic Founders IndexSM
over a 15-year time period (2004 through 2019) would have
outperformed the Russell 3000 Index by almost two times (1.74X) had
it been in existence during that period.(3) First Republic
Investment Management is currently exploring investment
opportunities for clients that would seek to track the performance
of the First Republic Founders IndexSM.
First Republic Private Wealth Management, which includes First
Republic Investment Management along with brokerage and trust
services, had $137.6 billion in assets under management as of June
30, 2019. To learn more about First Republic Private Wealth
Management, click here.
(1)
The First Republic Founders IndexSM
defines a founder-influenced company, for inclusion in the Index,
as one in which the founder or founders serve in a key executive
role and/or on its board of directors.
(2)
As of October 7, 2019, the First Republic
Founders Index included 329 companies.
(3)
Back-testing is presented for illustrative
purposes only. Back-testing found that over the 15-year period from
June 30, 2004 through June 28, 2019, the cumulative performance of
the First Republic Founders IndexSM was approximately 448%, or
1.74X the Russell 3000 Index, which
had a cumulative performance of approximately 258%, and
1.68X the S&P 500 Equal Weight
Index, which had a cumulative performance of approximately 267%.
Performance figures assume reinvestment of dividends in the Index,
and assume data regarding founders’ status is available without a
lag. Back-tested index performance does not reflect actual
performance of any managed account and, as an index, does not take
into consideration any expenses, or trading or latency costs, which
reduce performance results.
The Index commenced on October 7, 2019 and has no performance
history. It is uncertain how it will perform. Any retrospective
closing levels are simulated based on rules-based approach only.
All back-tested data must be considered hypothetical and used for
illustrative purposes only. The actual performance of the Index may
be materially different from the results presented in any simulated
history relating to the Index. Past performance should not be
considered indicative of future performance.
This announcement is not an offering, solicitation or
recommendation for any security nor does it constitute an offer to
provide investment advisory or other services. Investing in
securities involves the risk of loss. It is not possible to invest
directly in an unmanaged index without fees or expenses.
Investment, insurance and advisory products and services, and
foreign exchange transactions, are not FDIC insured or insured by
any federal government agency, not a deposit, not bank guaranteed
and may lose value.
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.
About First Republic Bank
Founded by Jim Herbert, Chairman & 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20191007005812/en/
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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