Nothing in this document represents a recommendation of any particular strategy, security, or investment product. Performance returns are shown net of management fees. Past performance is not indicative of future returns. Inception date is 12/31/1998. Composites may contain accounts of Bernardi Securities, Inc. and/or Bernardi Asset Management LLC and may include securities subject to the federal alternative minimum tax. Composite may include callable bonds and if so yield is calculated on a yield to worst basis. Please contact us if you would like a listing of historical recommendations. returns shown after fees.

Composite performance is based upon the aggregate of the fixed income performance of a group of managed portfolios, which represent a particular style of management. It does not represent the performance of any one portfolio. Please visit our composite composition page for more information on the composition of our composites. Index performance is based upon the performance of an independently published grouping of securities. The indices cannot be invested in directly, but provide a representative comparison to the performance of our composites. Please visit our index definition page for more information on the composition of our indices and the differences between composite and index performance.

May lose principal • Not FDIC insured • Not appropriate for all investors