Imperial Fund Asset Management

Retirement plans: one, or several?

Many business owners and self-employed professionals assume they have to choose a single retirement plan. In practice, plans are often designed to work together, and combining them may expand total contribution capacity.

For instance, an IRA can add another layer of savings on top of a workplace 401(k). Business owners with no full-time employees often use a Solo 401(k), and once that's maxed out, a Cash Balance Plan can be layered on top to unlock higher deductible contributions, particularly valuable for owners closer to retirement age, subject to applicable tax rules, plan requirements, and actuarial considerations.

It is important to understand that the right mix depends on your income, business structure, and goals. 𝗢𝘂𝗿 𝗮𝗱𝘃𝗶𝘀𝗼𝗿𝘀 𝗰𝗮𝗻 𝗵𝗲𝗹𝗽 𝘆𝗼𝘂 𝗲𝘃𝗮𝗹𝘂𝗮𝘁𝗲 𝘆𝗼𝘂𝗿 𝗼𝗽𝘁𝗶𝗼𝗻𝘀. 𝗦𝗰𝗵𝗲𝗱𝘂𝗹𝗲 𝗮 𝗳𝗿𝗲𝗲 𝘁𝗮𝘅 𝗿𝗲𝘃𝗶𝗲𝘄: https://scheduler.zoom.us/yuri-nosenko/intro-call



𝑇ℎ𝑖𝑠 𝑝𝑜𝑠𝑡 𝑖𝑠 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑐𝑜𝑛𝑠𝑡𝑖𝑡𝑢𝑡𝑒 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙, 𝑡𝑎𝑥, 𝑜𝑟 𝑙𝑒𝑔𝑎𝑙 𝑎𝑑𝑣𝑖𝑐𝑒. 𝑃𝑙𝑒𝑎𝑠𝑒 𝑐𝑜𝑛𝑠𝑢𝑙𝑡 𝑦𝑜𝑢𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙, 𝑡𝑎𝑥, 𝑜𝑟 𝑙𝑒𝑔𝑎𝑙 𝑝𝑟𝑜𝑓𝑒𝑠𝑠𝑖𝑜𝑛𝑎𝑙 𝑓𝑜𝑟 𝑔𝑢𝑖𝑑𝑎𝑛𝑐𝑒 𝑜𝑛 𝑠𝑝𝑒𝑐𝑖𝑓𝑖𝑐 𝑜𝑝𝑡𝑖𝑜𝑛𝑠 𝑚𝑜𝑠𝑡 𝑎𝑝𝑝𝑟𝑜𝑝𝑟𝑖𝑎𝑡𝑒 𝑓𝑜𝑟 𝑦𝑜𝑢𝑟 𝑠𝑖𝑡𝑢𝑎𝑡𝑖𝑜𝑛. 𝑉𝑖𝑠𝑖𝑡 𝑜𝑢𝑟 𝑤𝑒𝑏𝑠𝑖𝑡𝑒 𝑎𝑛𝑑 𝑑𝑖𝑠𝑐𝑙𝑎𝑖𝑚𝑒𝑟 𝑝𝑎𝑔𝑒 𝑡𝑜 𝑙𝑒𝑎𝑟𝑛 𝑚𝑜𝑟𝑒: https://imperialfund.com/policy/?page=transparency_and_disclosure

The Power of Compound Interest

Small contributions can become more meaningful over time when returns begin earning returns of their own.

Swipe through the carousel to learn how compound interest works, why time matters, and how growth can differ from simple interest over the long term.

While growth is never guaranteed and investments can fluctuate, time and consistency can play an important role in long-term financial planning. For professionals, business owners, and families building wealth, compounding is a reminder that effective investing is often about discipline, patience, and staying aligned with long-term goals.

To discuss how long-term planning may fit your situation, contact us at [email protected] to schedule a consultation.
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𝘛𝘩𝘪𝘴 𝘱𝘰𝘴𝘵 𝘪𝘴 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘱𝘶𝘳𝘱𝘰𝘴𝘦𝘴 𝘰𝘯𝘭𝘺 𝘢𝘯𝘥 𝘥𝘰𝘦𝘴 𝘯𝘰𝘵 𝘤𝘰𝘯𝘴𝘵𝘪𝘵𝘶𝘵𝘦 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭, 𝘵𝘢𝘹, 𝘰𝘳 𝘭𝘦𝘨𝘢𝘭 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘗𝘭𝘦𝘢𝘴𝘦 𝘤𝘰𝘯𝘴𝘶𝘭𝘵 𝘺𝘰𝘶𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭, 𝘵𝘢𝘹, 𝘰𝘳 𝘭𝘦𝘨𝘢𝘭 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘪𝘰𝘯𝘢𝘭 𝘧𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘴𝘱𝘦𝘤𝘪𝘧𝘪𝘤 𝘰𝘱𝘵𝘪𝘰𝘯𝘴 𝘮𝘰𝘴𝘵 𝘢𝘱𝘱𝘳𝘰𝘱𝘳𝘪𝘢𝘵𝘦 𝘧𝘰𝘳 𝘺𝘰𝘶𝘳 𝘴𝘪𝘵𝘶𝘢𝘵𝘪𝘰𝘯. 𝘝𝘪𝘴𝘪𝘵 𝘰𝘶𝘳 𝘸𝘦𝘣𝘴𝘪𝘵𝘦 𝘢𝘯𝘥 𝘥𝘪𝘴𝘤𝘭𝘢𝘪𝘮𝘦𝘳 𝘱𝘢𝘨𝘦 𝘵𝘰 𝘭𝘦𝘢𝘳𝘯 𝘮𝘰𝘳𝘦: 𝘩𝘵𝘵𝘱𝘴://𝘪𝘮𝘱𝘦𝘳𝘪𝘢𝘭𝘧𝘶𝘯𝘥.𝘤𝘰𝘮/𝘱𝘰𝘭𝘪𝘤𝘺/?𝘱𝘢𝘨𝘦=𝘵𝘳𝘢𝘯𝘴𝘱𝘢𝘳𝘦𝘯𝘤𝘺_𝘢𝘯𝘥_𝘥𝘪𝘴𝘤𝘭𝘰𝘴𝘶𝘳𝘦

Are you making full use of the tax-saving opportunities available to business owners and 1099 professionals?

The tax code provides legal deduction opportunities for self-employed professionals and business owners. Yet many of these opportunities go unused, year after year.

To explore this topic further, join Imperial Fund Asset Management for our upcoming webinar: “𝐓𝐚𝐱-𝐭𝐨-𝐖𝐞𝐚𝐥𝐭𝐡 𝐂𝐨𝐧𝐯𝐞𝐫𝐬𝐢𝐨𝐧 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲: 𝐀 𝐏𝐫𝐚𝐜𝐭𝐢𝐜𝐚𝐥 𝐓𝐚𝐱-𝐒𝐚𝐯𝐢𝐧𝐠 𝐆𝐮𝐢𝐝𝐞 𝐟𝐨𝐫 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬 & 𝟏𝟎𝟗𝟗 𝐏𝐫𝐨𝐟𝐞𝐬𝐬𝐢𝐨𝐧𝐚𝐥𝐬.”

In this 30-minute educational session, we will discuss how strategic tax and retirement planning may help reduce taxable income today and redirect more of your earnings toward long-term wealth-building goals.

Every registrant will receive the 𝟐𝟎𝟐𝟔 𝐓𝐚𝐱-𝐀𝐝𝐯𝐚𝐧𝐭𝐚𝐠𝐞𝐝 𝐑𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐆𝐮𝐢𝐝𝐞 and the full session recording, even if they can’t attend live.

📅 Tuesday, July 28, 2026
⏰ 2:00 PM EDT

During the webinar, we will cover:
• Which qualified retirement plan may fit your business
• How much you may be able to deduct in 2026
• How tax-rate planning may improve after-tax results
• What should be established and funded before year-end

We will also walk through a practical case study using real numbers.

Participation is free, and all interested participants are welcome.

🔗 Register here: https://zoom.us/webinar/register/7717846370016/WN_PR41opOFR0iKH2onlXMqlA
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𝐼𝑚𝑝𝑒𝑟𝑖𝑎𝑙 𝐹𝑢𝑛𝑑 𝐴𝑠𝑠𝑒𝑡 𝑀𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡 𝑖𝑠 𝑎𝑛 𝑆𝐸𝐶-𝑟𝑒𝑔𝑖𝑠𝑡𝑒𝑟𝑒𝑑 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑎𝑑𝑣𝑖𝑠𝑒𝑟. 𝑇ℎ𝑖𝑠 𝑤𝑒𝑏𝑖𝑛𝑎𝑟 𝑖𝑠 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑎𝑛𝑑 𝑒𝑑𝑢𝑐𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦; 𝑎𝑛𝑦 𝑡𝑎𝑥 𝑝𝑙𝑎𝑛𝑛𝑖𝑛𝑔 𝑠𝑡𝑟𝑎𝑡𝑒𝑔𝑖𝑒𝑠 𝑑𝑖𝑠𝑐𝑢𝑠𝑠𝑒𝑑 𝑚𝑎𝑦 𝑖𝑚𝑝𝑟𝑜𝑣𝑒 𝑎𝑓𝑡𝑒𝑟-𝑡𝑎𝑥 𝑜𝑢𝑡𝑐𝑜𝑚𝑒𝑠, 𝑏𝑢𝑡 𝑟𝑒𝑠𝑢𝑙𝑡𝑠 𝑣𝑎𝑟𝑦 𝑏𝑎𝑠𝑒𝑑 𝑜𝑛 𝑖𝑛𝑑𝑖𝑣𝑖𝑑𝑢𝑎𝑙 𝑐𝑖𝑟𝑐𝑢𝑚𝑠𝑡𝑎𝑛𝑐𝑒𝑠 𝑎𝑛𝑑 𝑎𝑝𝑝𝑙𝑖𝑐𝑎𝑏𝑙𝑒 𝑡𝑎𝑥 𝑙𝑎𝑤𝑠, 𝑎𝑛𝑑 𝑎𝑡𝑡𝑒𝑛𝑑𝑒𝑒𝑠 𝑠ℎ𝑜𝑢𝑙𝑑 𝑐𝑜𝑛𝑠𝑢𝑙𝑡 𝑡ℎ𝑒𝑖𝑟 𝑜𝑤𝑛 𝑡𝑎𝑥 𝑎𝑛𝑑 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑎𝑑𝑣𝑖𝑠𝑜𝑟𝑠. 𝑃𝑙𝑒𝑎𝑠𝑒 𝑣𝑖𝑠𝑖𝑡 𝑜𝑢𝑟 𝑑𝑖𝑠𝑐𝑙𝑎𝑖𝑚𝑒𝑟 𝑝𝑎𝑔𝑒 𝑡𝑜 𝑙𝑒𝑎𝑟𝑛 𝑚𝑜𝑟𝑒: https://imperialfund.com/policy/?page=transparency_and_disclosure

📰 Weekly Brief | 21–26 June 2026

1️⃣ PCE Jumps Above 4% in May

The May PCE inflation report came in hotter than expected, with the headline PCE Price Index rising 4.1% year-over-year and core PCE, which excludes food and energy, advancing 3.4%. Both measures reached their highest levels since 2023 and remain well above the Federal Reserve’s 2% target, reinforcing concerns that inflation pressures are proving more persistent than hoped.

The hotter inflation print has complicated the policy outlook and pushed markets to reassess the risk of further tightening. As of today, FedWatch tool prices in a 42% probability of one additional rate hike and a 28% probability of two hikes by the end of the year, suggesting that higher-for-longer policy, and even renewed rate increases, remain firmly on the table.

2️⃣ Q1 GDP Revised Upwards

Real GDP grew at a 2.1% annualized rate in the first quarter, revised higher from the previous 1.6% estimate and a clear acceleration from the 0.5% pace recorded in Q4 2025. The revised figure also topped expectations, as economists surveyed by LSEG had projected growth of 1.6%.

The upward revision was driven primarily by stronger investment and an improved net export contribution, with additional support from exports, government spending, and consumer spending, while higher imports acted as a drag. At the industry level, growth was led by information technology, the federal government, professional services, and durable goods manufacturing, partly offset by weakness in retail, wholesale trade, and finance. Investment rise was especially pronounced in the information sector, reflecting continued AI-related spending on equipment, software, and R&D.

3️⃣ JPMorgan Narrows Dimon Succession

JPMorgan Chase has sharpened its succession picture with a major leadership reshuffle that elevates Doug Petno and Troy Rohrbaugh to co-presidents and puts each in charge of one of the bank’s two largest businesses. Petno will become sole CEO of the Commercial & Investment Bank, while Rohrbaugh will take over Consumer & Community Banking, replacing Marianne Lake, who is retiring after more than 25 years at the firm. The promotions, backed by $30 million retention stock awards for each executive, effectively narrow the field of likely successors to Jamie Dimon, even as Dimon is expected to remain CEO for at least three more years.

4️⃣ Oil Prices Head Back

Oil prices are completing a stunning round-trip decline toward pre-Iran conflict following the mid-June deal to reopen the Strait of Hormuz. WTI has settled in the low-to-mid $70s amid resuming tanker traffic. The normalization removes a major near-term inflation threat and eases pressure on global energy markets.

5️⃣ SK Hynix Files for DR Listing

South Korea’s SK Hynix, a leading supplier of high-bandwidth memory for AI servers, filed to raise up to $29.5 billion via American depositary receipts on Nasdaq with trading expected to begin July 10.

𝐼𝑚𝑝𝑒𝑟𝑖𝑎𝑙 𝐹𝑢𝑛𝑑 𝐴𝑠𝑠𝑒𝑡 𝑀𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡 𝑖𝑠 𝑎 𝑅𝑒𝑔𝑖𝑠𝑡𝑒𝑟𝑒𝑑 𝐼𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝐴𝑑𝑣𝑖𝑠𝑒𝑟. 𝑇ℎ𝑖𝑠 𝑐𝑜𝑛𝑡𝑒𝑛𝑡 𝑖𝑠 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑐𝑜𝑛𝑠𝑡𝑖𝑡𝑢𝑡𝑒 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑎𝑑𝑣𝑖𝑐𝑒 𝑜𝑟 𝑎 𝑟𝑒𝑐𝑜𝑚𝑚𝑒𝑛𝑑𝑎𝑡𝑖𝑜𝑛. 𝑇ℎ𝑒 𝑚𝑎𝑡𝑒𝑟𝑖𝑎𝑙 𝑖𝑠 𝑏𝑎𝑠𝑒𝑑 𝑜𝑛 𝑠𝑜𝑢𝑟𝑐𝑒𝑠 𝑏𝑒𝑙𝑖𝑒𝑣𝑒𝑑 𝑡𝑜 𝑏𝑒 𝑟𝑒𝑙𝑖𝑎𝑏𝑙𝑒; ℎ𝑜𝑤𝑒𝑣𝑒𝑟, 𝐼𝐹𝐴𝑀 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑔𝑢𝑎𝑟𝑎𝑛𝑡𝑒𝑒 𝑖𝑡𝑠 𝑎𝑐𝑐𝑢𝑟𝑎𝑐𝑦 𝑜𝑟 𝑐𝑜𝑚𝑝𝑙𝑒𝑡𝑒𝑛𝑒𝑠𝑠. 𝑇ℎ𝑒 𝑐𝑜𝑚𝑝𝑎𝑛𝑖𝑒𝑠 𝑟𝑒𝑓𝑒𝑟𝑒𝑛𝑐𝑒𝑑 𝑎𝑟𝑒 𝑚𝑒𝑛𝑡𝑖𝑜𝑛𝑒𝑑 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑠ℎ𝑜𝑢𝑙𝑑 𝑛𝑜𝑡 𝑏𝑒 𝑐𝑜𝑛𝑠𝑡𝑟𝑢𝑒𝑑 𝑎𝑠 𝑎 𝑟𝑒𝑐𝑜𝑚𝑚𝑒𝑛𝑑𝑎𝑡𝑖𝑜𝑛 𝑡𝑜 𝑏𝑢𝑦 𝑜𝑟 𝑠𝑒𝑙𝑙 𝑎𝑛𝑦 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦. 𝑇ℎ𝑒 𝐴𝑑𝑣𝑖𝑠𝑒𝑟 𝑎𝑛𝑑 𝑖𝑡𝑠 𝑐𝑙𝑖𝑒𝑛𝑡𝑠 𝑚𝑎𝑦 ℎ𝑜𝑙𝑑 𝑝𝑜𝑠𝑖𝑡𝑖𝑜𝑛𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑖𝑒𝑠 𝑑𝑖𝑠𝑐𝑢𝑠𝑠𝑒𝑑. 𝑇ℎ𝑒𝑠𝑒 𝑒𝑥𝑎𝑚𝑝𝑙𝑒𝑠 𝑎𝑟𝑒 𝑛𝑜𝑡 𝑖𝑛𝑡𝑒𝑛𝑑𝑒𝑑 𝑡𝑜 𝑟𝑒𝑝𝑟𝑒𝑠𝑒𝑛𝑡 𝑎𝑙𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠 𝑚𝑎𝑑𝑒 𝑏𝑦 𝑡ℎ𝑒 𝐴𝑑𝑣𝑖𝑠𝑒𝑟. 𝐴𝑙𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠 𝑖𝑛𝑣𝑜𝑙𝑣𝑒 𝑟𝑖𝑠𝑘, 𝑖𝑛𝑐𝑙𝑢𝑑𝑖𝑛𝑔 𝑝𝑜𝑠𝑠𝑖𝑏𝑙𝑒 𝑙𝑜𝑠𝑠 𝑜𝑓 𝑝𝑟𝑖𝑛𝑐𝑖𝑝𝑎𝑙. 𝑃𝑙𝑒𝑎𝑠𝑒 𝑟𝑒𝑣𝑖𝑒𝑤 𝑜𝑢𝑟 𝑓𝑢𝑙𝑙 𝑑𝑖𝑠𝑐𝑙𝑜𝑠𝑢𝑟𝑒𝑠 https://imperialfund.com/policy/?page=privacy_policy
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Source: The Wall Street Journal, Bureau of Economic Analysis, Reuters, CNBC, CME Group, Fox Business

📰 Weekly Brief | 14–19 June 2026

1️⃣ Hormuz Reopens, Oil Prices Fall

Oil prices dropped sharply in anticipation of a US-Iran peace deal, with President Trump announcing the Strait of Hormuz would reopen upon the deal's signing. Before the conflict, the strait carried roughly a fifth of the world's crude oil, but analysts caution that even with a deal in place, it could take weeks or months for supply to fully normalize – hundreds of ships are trapped in the Persian Gulf and Gulf producers will need time to ramp output back up.

2️⃣ The Fed Holds, Signals a Hike Ahead

The Federal Reserve held its benchmark rate unchanged in the 3.5%–3.75% range at Kevin Warsh's first meeting as chairman – a unanimous decision that masked a far more consequential shift beneath the surface. According to the meeting’s quarterly projections, 9 of 18 officials now anticipate at least one rate increase before year's end, up from none in March, while those still expecting a cut collapsed from twelve to just one.

A striking reversal, given that the central bank was widely expected to be cutting rates this year, only six months ago.

3️⃣ SpaceX Buys Cursor

SpaceX, fresh off its blockbuster IPO last week, announced it is acquiring AI coding assistant Cursor for $60 billion in an all-stock deal, with Cursor set to become a wholly owned subsidiary upon closing in Q3 2026. The acquisition is the clearest sign yet that Elon Musk is betting heavily on AI coding tools as SpaceX tries to narrow the gap with competitors like Microsoft, Anthropic, and Google.

Cursor serves more than 50,000 enterprise teams, including Nvidia, Adobe, Uber, Shopify, and PayPal, and recently crossed $4 billion in annualized revenue, making it one of the fastest-growing software companies ever recorded.
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Source: CNBC, Sacra, Federal Reserve Board, PBS



𝐼𝑚𝑝𝑒𝑟𝑖𝑎𝑙 𝐹𝑢𝑛𝑑 𝐴𝑠𝑠𝑒𝑡 𝑀𝑎𝑛𝑎𝑔𝑒𝑚𝑒𝑛𝑡 𝑖𝑠 𝑎 𝑅𝑒𝑔𝑖𝑠𝑡𝑒𝑟𝑒𝑑 𝐼𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝐴𝑑𝑣𝑖𝑠𝑒𝑟. 𝑇ℎ𝑖𝑠 𝑐𝑜𝑛𝑡𝑒𝑛𝑡 𝑖𝑠 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑐𝑜𝑛𝑠𝑡𝑖𝑡𝑢𝑡𝑒 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑎𝑑𝑣𝑖𝑐𝑒 𝑜𝑟 𝑎 𝑟𝑒𝑐𝑜𝑚𝑚𝑒𝑛𝑑𝑎𝑡𝑖𝑜𝑛. 𝑇ℎ𝑒 𝑚𝑎𝑡𝑒𝑟𝑖𝑎𝑙 𝑖𝑠 𝑏𝑎𝑠𝑒𝑑 𝑜𝑛 𝑠𝑜𝑢𝑟𝑐𝑒𝑠 𝑏𝑒𝑙𝑖𝑒𝑣𝑒𝑑 𝑡𝑜 𝑏𝑒 𝑟𝑒𝑙𝑖𝑎𝑏𝑙𝑒; ℎ𝑜𝑤𝑒𝑣𝑒𝑟, 𝐼𝐹𝐴𝑀 𝑑𝑜𝑒𝑠 𝑛𝑜𝑡 𝑔𝑢𝑎𝑟𝑎𝑛𝑡𝑒𝑒 𝑖𝑡𝑠 𝑎𝑐𝑐𝑢𝑟𝑎𝑐𝑦 𝑜𝑟 𝑐𝑜𝑚𝑝𝑙𝑒𝑡𝑒𝑛𝑒𝑠𝑠. 𝑇ℎ𝑒 𝑐𝑜𝑚𝑝𝑎𝑛𝑖𝑒𝑠 𝑟𝑒𝑓𝑒𝑟𝑒𝑛𝑐𝑒𝑑 𝑎𝑟𝑒 𝑚𝑒𝑛𝑡𝑖𝑜𝑛𝑒𝑑 𝑓𝑜𝑟 𝑖𝑛𝑓𝑜𝑟𝑚𝑎𝑡𝑖𝑜𝑛𝑎𝑙 𝑝𝑢𝑟𝑝𝑜𝑠𝑒𝑠 𝑜𝑛𝑙𝑦 𝑎𝑛𝑑 𝑠ℎ𝑜𝑢𝑙𝑑 𝑛𝑜𝑡 𝑏𝑒 𝑐𝑜𝑛𝑠𝑡𝑟𝑢𝑒𝑑 𝑎𝑠 𝑎 𝑟𝑒𝑐𝑜𝑚𝑚𝑒𝑛𝑑𝑎𝑡𝑖𝑜𝑛 𝑡𝑜 𝑏𝑢𝑦 𝑜𝑟 𝑠𝑒𝑙𝑙 𝑎𝑛𝑦 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑦. 𝑇ℎ𝑒 𝐴𝑑𝑣𝑖𝑠𝑒𝑟 𝑎𝑛𝑑 𝑖𝑡𝑠 𝑐𝑙𝑖𝑒𝑛𝑡𝑠 𝑚𝑎𝑦 ℎ𝑜𝑙𝑑 𝑝𝑜𝑠𝑖𝑡𝑖𝑜𝑛𝑠 𝑖𝑛 𝑡ℎ𝑒 𝑠𝑒𝑐𝑢𝑟𝑖𝑡𝑖𝑒𝑠 𝑑𝑖𝑠𝑐𝑢𝑠𝑠𝑒𝑑. 𝑇ℎ𝑒𝑠𝑒 𝑒𝑥𝑎𝑚𝑝𝑙𝑒𝑠 𝑎𝑟𝑒 𝑛𝑜𝑡 𝑖𝑛𝑡𝑒𝑛𝑑𝑒𝑑 𝑡𝑜 𝑟𝑒𝑝𝑟𝑒𝑠𝑒𝑛𝑡 𝑎𝑙𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠 𝑚𝑎𝑑𝑒 𝑏𝑦 𝑡ℎ𝑒 𝐴𝑑𝑣𝑖𝑠𝑒𝑟. 𝐴𝑙𝑙 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡𝑠 𝑖𝑛𝑣𝑜𝑙𝑣𝑒 𝑟𝑖𝑠𝑘, 𝑖𝑛𝑐𝑙𝑢𝑑𝑖𝑛𝑔 𝑝𝑜𝑠𝑠𝑖𝑏𝑙𝑒 𝑙𝑜𝑠𝑠 𝑜𝑓 𝑝𝑟𝑖𝑛𝑐𝑖𝑝𝑎𝑙. 𝑃𝑙𝑒𝑎𝑠𝑒 𝑟𝑒𝑣𝑖𝑒𝑤 𝑜𝑢𝑟 𝑓𝑢𝑙𝑙 𝑑𝑖𝑠𝑐𝑙𝑜𝑠𝑢𝑟𝑒𝑠 https://imperialfund.com/policy/?page=privacy_policy