The Fund’s objective is long-term capital appreciation.
Return Advantage
Seeks to outperform long-only equity investments over market cycles.
Data shown reflective of 8/31/2020 to 12/31/2024
Downside Advantage
Seeks to outperform with less downside during periods of broad equity market declines.
Data shown reflective of 8/31/2020 to 12/31/2024
Risk Advantage
Seeks to deliver higher risk-adjusted investment returns than long-only equity investments.
Data shown reflective of 8/31/2020 to 12/31/2024
The above cash exposure chart is provided for illustration purposes only. Exposures between the three asset classes above (green, blue, and gray) are estimated. Active U.S. equity exposures (green wedges) and Active Global Futures exposures (blue wedges) are depicted as equal allocations for illustrative purposes only. All of the above are subject to change, and actual portfolio exposures at any given time may vary substantially from the depiction above.
* The annual report presents the audited actual expenses of the fund for the fiscal year. It excludes the impact of certain items that are listed as prospectus expenses, such as acquired fund fees and expenses.
The advisor has contractually agreed to waive fees and/or reimburse expenses of the Fund to the extent necessary to limit total annual fund operating expenses (excluding brokerage costs; acquired fund fees and expenses; borrowing costs such as (a) interest and (b) dividends on securities sold short; taxes and, extraordinary expenses, such as regulatory inquiry and litigation expenses) at 2.24%, 2.99% and 1.99% for Class A shares, Class C shares and Class I shares, respectively, through October 31, 2025.
Sharpe Ratio: A measure of an investment’s excess performance over the risk free rate relative to its standard deviation.
The Fund’s performance provided below (for periods prior to the commencement of the Fund’s operations) is that of the Predecessor Fund, which includes all of the Predecessor Fund’s fees and expenses over various periods ended December 31, 2023, as adjusted to include the applicable sales loads of each class of Shares of the Fund. The performance of the Predecessor Fund has not been restated to reflect the fees, estimated expenses and fee waivers and/or expense limitations applicable to each class of shares of the Fund. If the performance of the Predecessor Fund had been restated to reflect the applicable fees and expenses of each class of shares of the Fund, the performance would have been lower. The Predecessor Fund did not have a distribution policy. It was a limited liability company, did not qualify as a regulated investment company for federal income tax purposes, and it did not pay dividends and distributions. As a result of the different tax treatment, we are unable to show the after-tax returns for the Predecessor Fund. The Predecessor Fund was not registered under the 1940 Act and, therefore, was not subject to certain investment restrictions, limitations and diversification requirements that are imposed by the 1940 Act. If the Predecessor Fund had been registered under the 1940 Act, the Predecessor Fund’s performance may have been adversely affected.
20240723-3677275
