ALTEGRIS EQUITY LONG SHORT FUND. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING.
|
|
- Junior Reynard Robertson
- 5 years ago
- Views:
Transcription
1 It s time for a hedged approach to equities. ALTEGRIS EQUITY LONG SHORT FUND. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING.
2 Altegris Equity Long Short Fund A Hedged Approach to Your Equity Allocation. Taking a diversified approach to equity investing, the Fund accesses five experienced long/short equity managers with the goal of participating in market upside, while preserving against the downside all with moderate correlation to the equity indices. REASONS TO INVEST Exposure to the potential key benefits of the Fund includes: Participate and Preserve Exposure Management Risk Management Alternatives Experts Multi-Manager Approach Access to premier managers with the potential to capture equity market upside, while seeking to limit downside risk Low net exposure to equity markets, with a focus on sub-advisers specializing in fundamental stock picking Seeks a smoother path with lower historical volatility than equity markets Experienced portfolio management team, with the ability to hire and fire managers Methodical manager selection, coupled with rigorous ongoing due diligence The Fund is subject to various risks including, but not limited to, commodity risk, credit risk, derivatives risk, fixed income risk, foreign currency risk, foreign investment risk, leverage risk, liquidity risk, management risk, market risk, non-diversification risk, short position risk, taxation risk, and underlying pools risk. There is no guarantee that any investment product will achieve its objectives, generate profits or avoid losses. Diversification does not ensure profit or protect against loss in a positive or declining market. Correlation is a statistical measure of how two securities move in relation to each other. Long is buying an asset/security that gives partial ownership to the buyer of the position. Long positions profit from an increase in price. Short is selling an asset/security that may have been borrowed from a third party with the intention of buying back at a later date. Short positions profit from a decline in price. If a short position increases in price, the potential loss on an uncovered short is unlimited altegris.com/mutualfunds
3 Portfolio Allocations To achieve its investment objective, the Fund will use an equity long short strategy that is executed by: Allocating assets among the Fund s sub-advisers, each of which has one or more proprietary long/short equity investment strategies Diversifying investments among sub-adviser strategies that are not expected to have returns that are highly correlated to each other or major equity market indices EQUITY LONG SHORT SUB-STRATEGY TARGET ALLOCATION As of September 30, 2013 Small-capitalization 15% OMT Capital Management Diversified 30% Visium Asset Management Agriculture/Consumer 15% Harvest Capital Strategies Financials 20% Harvest Capital Strategies Diversified 20% Chilton Investment Company Portfolio allocations and investment sub-strategies are presented to illustrate examples of Fund allocations and the diversity of areas in which the Fund may invest, and may not be representative of the Fund s current or future investments. The allocations do not include money market and fixed income instruments. Portfolio allocations are subject to change and should not be considered investment advice. The Fund also holds cash and cash equivalents which are excluded from the allocation of net assets shown above. Sub-adviser shown above in italics. Allocations may be higher or lower based on market conditions. Correlation is a statistical measure of how two securities move in relation to each other. Diversification does not ensure profit or protect against loss in a declining market. There is no guarantee that any investment product will achieve its objectives, generate profits or avoid losses. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. 3
4 Equity Long Short Managers The Altegris Equity Long Short Fund provides access to what we believe are premier long/short equity managers that aim to generate and capture alpha on the long and short side. Harvest Capital Strategies Founded in 1999, currently manages over $758 million in hedge fund assets* Extensive network of relationships and rigorous fundamental research process Focused on preserving capital, sharing a common risk framework and generating alpha through fundamentally driven investment selection Client-focused asset management platform with operational best practices Exhaustive due diligence and analytical process for both long and short positions Past Awards: Barclay Hedge Top Performing Hedge Fund (ranked by compound annual return ending September 2009) Absolute Return Awards 2008 Small Cap Equity Winner HFM Week US Performance Awards 2009 Long/Short Equity Winner Opal Financial Group 2009 Long/Short Equity Fund of the Year Lipper Hedge Fund Awards 2009 Best 3-Year Long/Short Equity Fund Joseph Jolson, Founder and Chief Executive Officer Financials sub-strategy Lead Portfolio Manager 30+ years of industry experience Previously started non-bank financial services research group and initiated the real estate and auto services for NationsBank Montgomery Securities Ten-time member of the Institutional Investor All-American Research Team ( ) covering thrift industry Two-time member of the Wall Street Journal All-Star Analyst Team (1995, 1996) covering financial services Received an MBA with distinction from The Wharton School and a BA from Yale University Kelly Wiesbrock, Managing Director Agriculture/Consumer sub-strategy Lead Portfolio Manager 10 years of operating experience and 11 years of investment management with continued involvement in Midwest farming operations Previously responsible for long/short food and consumer investments at Ascend Capital Former Purina Mills divisional CFO, Deloitte consultant focused on distressed consumer companies and Frito-Lay operations engineer Received an MBA from Harvard University and a BS degree in Mechanical Engineering from the University of Illinois *Sub-adviser AUM as of June The Fund currently pursues its long/short equity strategy through multiple sub-advisers, including those described above altegris.com/mutualfunds
5 Equity Long Short Managers The Altegris Equity Long Short Fund provides access to what we believe are premier long/short equity managers that aim to generate and capture alpha on the long and short side. OMT Capital Management Founded in 1998, currently manages over $332 million in assets* Experienced investment team performs intensive fundamental research to uncover market anomalies Seeks to control fundamental risk through its research process, price risk by strict adherence to buy and sell disciplines, and market risk through a long/short strategy Focuses on smaller capitalization equities with emphasis placed on high-quality companies Thomas Henwood, CFA, Founder and Chief Investment Officer Small-capitalization sub-strategy Lead Portfolio Manager 40+ years of industry experience Formerly founded long/short equity fund, Henwood Capital Partners, in 1988 which later merged into Emerging Growth Management where he served as President Former Institutional Investor All-American analyst with First Boston Corporation Graduate of the University of Illinois and earned an MBA from the University of Chicago Visium Asset Management Founded in 2005, currently manages approximately $4.8 billion in assets* Team of 74 professionals, including 50+ investment professionals Past Awards: Top 50 Mid-Sized Hedge Funds, Visium Global Fund Bloomberg (2012) The 100 Top-Performing Large Hedge Funds, Visium Balanced Fund Bloomberg (2012) #1 Performing Multi-Strategy Fund Visium Global Fund (Month of October 2012) Barclay Hedge Awards Equity-Focused Hedge Fund Firm of the Year (Nominated) 2011 Institutional Investor Award Robert Kim, Portfolio Manager and Director of Research Diversified sub-strategy Lead Portfolio Manager 15+ years of experience working at multi-billion dollar hedge fund management firms Former portfolio manager at Millennium Partners Former senior portfolio manager at GLG Partners, Soros Fund Management, and SAC Capital Graduated from The Georgia Institute of Technology with a BS in Chemistry *Sub-adviser AUM as of June The Fund currently pursues its long/short equity strategy through multiple sub-advisers, including those described above. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. 5
6 Equity Long Short Managers The Altegris Equity Long Short Fund provides access to what we believe are premier long/short equity managers that aim to generate and capture alpha on the long and short side. Chilton Investment Company Founded in 1992, currently manages over $3.8 billion in assets* Approximately 100 employees in New York, Stamford, London, and Hong Kong, including 24 investment professionals Experienced investment team committed to rigorous fundamental equity research Richard L. Chilton, Jr., Founder, Chairman, CEO, and Chief Investment Officer Diversified sub-strategy Lead Portfolio Manager 25+ years of industry experience Portfolio manager of Chilton s Flagship Strategies Diversified and Concentrated Previously worked at Allen & Company, Alliance Capital, and Merrill Lynch B.S. in Finance and Economics from Alfred University *Sub-adviser AUM as of May The Fund currently pursues its long/short equity strategy through multiple sub-advisers, including those described above altegris.com/mutualfunds
7 Equity Long Short Sub-Strategies The Altegris Equity Long Short Fund accesses established long/short equity managers with strategies that emphasize stock selection capabilities and market exposure management. Sub-strategy Primary Focus Investment Approach Position Philosophy Diversified Visium Asset Management Portfolio Manager: Robert Kim US mid- and large-cap company stocks Employs a fundamentally driven, bottom-up investment approach to its equity long short strategies. Trades across multiple industry sectors Seeks to maintain low correlation between positions Generally seeks to maintain an equal number of long and short positions, with individual position sizes in the portfolio ranging from: Long positions: 1 8% Short positions: 1 5% Over 80% of portfolio expected to be invested in US markets Diversified Chilton Investment Company Portfolio Manager: Richard L. Chilton, Jr. Growth companies Focused on capturing value by identifying opportunities through its fundamental, bottom-up research process. Concentrates on identifying companies with highly dynamic earnings prospects before they are fully recognized in the marketplace Typically diversified across sectors and market capitalizations in primarily US equity securities Financials Harvest Capital Strategies Portfolio Managers: Joseph Jolson Don Destino Jim Fowler Financial services industry and related companies Primary considerations in evaluating investments: Identify mispriced stocks, where a catalyst within a 6-12 month period could result in a more efficient valuation Identify industry winners and losers over a forward two to three-year horizon Typical investment in any single company not intended to exceed 10% of substrategy assets Agriculture/Consumer Harvest Capital Strategies Portfolio Manager: Kelly Wiesbrock Agriculture/ consumer and related sectors Investments anticipated to include companies: With earnings growth at reasonable rates and relatively attractive valuations Inexpensively valued with improving business trends that may serve as catalyst to unlock value In significant transition that present special situations Typically consist of 40 to 60 different positions Each long position usually constitute less than 10% of sub-strategy asset value Each short position usually not exceed 4% of sub-strategy asset value Small-capitalization OMT Capital Management Portfolio Managers: Thomas Henwood Josh Wilson Paul Sagara Smallcapitalization growth companies Microeconomic approach to investment selection and risk minimization. Focus on above-average growth prospect companies by conducting in-depth analysis, which includes evaluation of a company s management, strategy, and finances May focus its investments by country, sector, industry, company or asset class Relative magnitude of long and short positions weighted to reflect sub-adviser s perception of investment opportunities Italics depict the sub-adviser of the Fund s sub-strategies mentioned above. Position philosophy is presented as examples of allocations the adviser expects the sub-adviser to make and the diversity of areas in which they may invest. This portfolio composition architecture is subject to change at any time in response to market conditions and / or viewpoints of the respective portfolio management teams and should not be construed as investment advice. There is no guarantee that any investment product will achieve its objectives, generate profits or avoid losses. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. 7
8 Altegris Equity Long Short Fund Facts OBJECTIVE The Fund seeks to achieve long-term capital appreciation with moderate correlation to major equity market indices and to achieve this objective with less volatility than major equity market indices. FUND ADVISER Altegris Advisors, LLC FUND SUB-ADVISERS Harvest Capital Strategies LLC OMT Capital Management LLC Visium Asset Management LP Chilton Investment Company, LLC SYMBOL & CUSIP Class A: ELSAX-66537Y371 Class I: ELSIX-66537Y355 Class N: ELSNX-66537Y348 MINIMUM INITIAL/SUBSEQUENT INVESTMENT Class A: $2,500 / $250 Class I: $1,000,000 / $250 Class N: $2,500 / $250 INCEPTION DATE April 30, 2012 INCOME DISTRIBUTION Annual ANNUAL FUND OPERATING EXPENSES Expenses that you pay each year as a percentage of the value of your investment Class A* Class I Class N Management Fees 2.25% 2.25% 2.25% Distribution and/or Service (12b-1) Fees 0.25% 0.00% 0.25% Other Expenses 2.13% 2.13% 2.13% Interest and Dividends on Securities Sold Short 1.28% 1.28% 1.28% Remaining Other Expenses 0.85% 0.85% 0.85% Total Annual Fund Operating Expenses 4.63% 4.38% 4.63% Fee Waiver (1) (0.61)% (0.61)% (0.61)% Total Annual Fund Operating Expenses After Fee Waiver 4.02% 3.77% 4.02% Expense Cap 2.74% 2.49% 2.74% *The maximum sales charge (load) for Class A is 5.75%. Class A Share investors may be eligible for a reduction in sales charges. (1) The Fund s adviser has contractually agreed to reduce its fees and to reimburse expenses, at least until August 31, 2014, to ensure that total annual Fund operating expenses after fee waiver and/or reimbursement will not exceed 2.74%, 2.49%, and 2.74% of average daily net assets attributable to Class A, Class I, and Class N shares, respectively. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years on a rolling three year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits. This agreement may be terminated only by the Fund s Board of Trustees, on 60 days written notice to the Fund s adviser altegris.com/mutualfunds
9 Mutual Fund Risks Investors should carefully consider the investment objectives, risks, charges and expenses of the Altegris Equity Long Short Fund. This and other important information about a Fund is contained in the Fund s Prospectus which can be obtained by calling (888) The Prospectus should be read carefully before investing. Funds are distributed by Northern Lights Distributors, LLC, member FINRA. Altegris Advisors and Northern Lights Distributors are not affiliated. MUTUAL FUNDS INVOLVE RISK INCLUDING POSSIBLE LOSS OF PRINCIPAL. Equity securities are subject to market risk and may decline in value due to adverse company, industry or general economic conditions. An investment in smaller or mid-capitalization companies may be subject to more volatility and less liquidity than larger, more established companies. Foreign investments may involve heightened risk due to currency fluctuations, economic and political instability, less liquidity, inefficient trading markets and differing auditing and legal standards. These risks are magnified in emerging markets. The Fund will engage in short selling and short position derivative activities, which are considered speculative and involve significant financial risk. Short positions profit from a decline in price, so the Fund may incur a loss on a short position if the price increases. The potential loss on an uncovered short is unlimited. Shorting may also result in higher transaction costs, which reduce return. The use of derivatives such as futures and options involves risks different from those typically associated with investing directly in securities, including leverage risk and tracking risk. Long options may expire worthless. Although futures contracts are generally liquid, under certain market conditions there may not always be a liquid secondary market. The use of leverage by the Fund, such as borrowing money to purchase securities or the use of options will cause the Fund to incur additional expenses. Leverage can increase volatility and magnify gains or loss. A rise in interest rates will typically cause a decline in the value of fixed income securities, including preferred stock. Fixed income securities are also subject to credit risk and default risk. Credit risk is the possibility that an issuer will fail to pay interest and principal when due. The credit, default and liquidity risks are heightened for lower-quality convertible and debt securities known as high yield or junk. Funds that are new have a limited history of operations. The manager or sub-adviser s judgments about the attractiveness, value and potential appreciation or depreciation of a particular security in which the Fund invests or sells short may prove to be inaccurate and may not produce the desired results. The Fund is non-diversified for purposes of the Investment Company Act of 1940, and may invest more than 5% of total assets in the securities of one or more issuers. Performance may therefore be more sensitive to any single economic, business or regulatory occurrence than a more diversified fund. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. 9
10 Risks and Important Considerations Investing in equity securities involves market risk or the risk of loss due to adverse market conditions, industry news or a general economic decline. Short sales involve the sale of a borrowed security, with the expectation that the security will underperform the market. Short selling is considered leverage and positions in shorted securities are speculative and more risky than long positions. Leverage may magnify gains or losses. The use of long and short positions does not limit the exposure to market volatility and other risks. The risk of volatility may be heightened for alternative or complex investment strategies. There can be no assurance that any investment strategy will be successful. Altegris Advisors Altegris Advisors LLC is a CFTC-registered commodity pool operator, commodity trading advisor, NFA member, and SEC-registered investment adviser that advises alternative strategy mutual funds that may pursue investment returns through a combination of managed futures, global macro, long/short equity, long/short fixed income and/or other investment strategies. About Altegris Altegris searches the world to find what we believe are the best alternative investments. Our suite of alternative investment solutions are designed for financial professionals and individuals seeking to improve portfolio diversification. With one of the leading research and investment groups focused solely on alternatives, Altegris follows a disciplined process for identifying, evaluating, selecting and monitoring investment talent across a spectrum of alternative strategies including managed futures, global macro, long/short equity, event-driven and others. Veteran experts in the art and science of alternatives, Altegris guides investors through the complex and often opaque universe of alternative investing. Alternatives are in our DNA. Our very name, Altegris, highlights our singular focus on alternatives, the highest standards of integrity, and a process that constantly seeks to minimize investor risk while maximizing potential returns. The Altegris group of affiliated companies is wholly-owned and controlled by (i) private equity funds managed by Aquiline Capital Partners LLC and its affiliates ( Aquiline ), and by Genstar Capital Management, LLC and its affiliates ( Genstar ), and (ii) certain senior management of Altegris and other affiliates. Established in 2005, Aquiline focuses its investments exclusively in the financial services industry. Established in 1988, Genstar focuses its investment efforts across a variety of industries and sectors, including financial services. The Altegris companies include Altegris Investments, Altegris Advisors, Altegris Funds, and Altegris Clearing Solutions. As of September 30, 2013, Altegris had $2.68 billion in client assets, and provided clearing services to $671 million in institutional assets altegris.com/mutualfunds
11 Glossary Alpha. Measures the non-systematic return, that which cannot be attributed to the market. It shows the difference between a fund s actual return and its expected return, given its level of systematic (or market) risk (as measured by beta). A positive alpha indicates that the fund has performed better than its beta would predict. Alpha is widely viewed as a measure of the value added or lost by a fund manager. Beta. A measure of the relationship of a fund s movement relative to a benchmark, such as a market index. Beta is the correlation (a measure of the statistical relationship between fund and benchmark) multiplied by the magnitude of relative volatility of the fund to the benchmark. A fund with a beta of 1.2 relative to a benchmark, for example, is expected to move 12% when the benchmark moves 10%. When the fund is comprised of the same instruments as the benchmark, beta can be thought of as a measure of relative volatility. A low beta does not necessarily indicate that the fund has low volatility; rather, it may indicate that the fund s returns are not related to the movement of the market benchmark. Long. Buying an asset/security that gives partial ownership to the buyer of the position. Long positions profit from an increase in price. Sector. Group of businesses that share similar characteristics or a related product of service (e.g. energy, consumer, financials, technology). Short. Selling an asset/security that may have been borrowed from a third party with the intention of buying back at a later date. Short positions profit from a decline in price. If a short position increases in price, covering the short position at a higher price may result in a loss. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. 11
12 ALTEGRIS ADVISORS NLD-10/15/2013
ALTEGRIS EQUITY LONG SHORT FUND.
It s time for a hedged approach to equities. ALTEGRIS EQUITY LONG SHORT FUND. ELSAX ELSCX ELSIX ELSNX TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. Altegris Equity Long Short Fund A Hedged Approach to Your
More informationALTEGRIS FIXED INCOME LONG SHORT FUND. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING.
It s time to diversify interest rate risk. ALTEGRIS FIXED INCOME LONG SHORT FUND. TRUSTED ALTERNATIVES. INTELLIGENT INVESTING. Altegris Fixed Income Long Short Fund A Fixed Income Alternative. Taking a
More informationGUIDE TO MACRO STRATEGY FUND (MCRAX)
GUIDE TO MACRO STRATEGY FUND (MCRAX) Altegris Macro Strategy Fund Global Macro, the Ultimate Go-anywhere Mandate. A diverse, actively managed mutual fund accesses what we believe are best of breed* global
More informationGuide to MACRO STRATEGY FUND (MCRAX)
Guide to MACRO STRATEGY FUND (MCRAX) About Global Macro Global macro is an opportunistic, predominantly discretionary, strategy that seeks to predict price movement, using fundamental macroeconomic data
More information1 ALLOCATION. 4+ CORE ALTERNATIVES.
1 ALLOCATION. 4+ CORE ALTERNATIVES. The alternative universe is vast with over 8,000 alternative managers representing hundreds of alternative strategies So how do you know which managers to choose with
More informationGuide to Altegris Research and Investment Process
Guide to Altegris Research and Investment Process Altegris Research and Investment Process The Bedrock of Our Investment Philosophy Any successful investment begins with a focused group of professionals
More informationProspectus. Altegris Equity Long Short Fund Class A (ELSAX) Class C (ELSCX) Class I (ELSIX) Class N (ELSNX)
April 29, 2016 Altegris Equity Long Short Fund Class A (ELSAX) Class C (ELSCX) Class I (ELSIX) Class N (ELSNX) Altegris Fixed Income Long Short Fund Class A (FXDAX) Class C (FXDCX) Class I (FXDIX) Class
More informationGuide to Managed Futures
Guide to Managed Futures Why Managed Futures? Potential Benefits of Managed Futures Historical Performance Managed futures have historically withstood a number of major market scenarios. In fact, over
More informationCatalyst Macro Strategy Fund
Catalyst Macro Strategy Fund MCXAX, MCXCX & MCXIX 2015 Q3 About Catalyst Funds Intelligent Alternatives We strive to provide innovative strategies to support financial advisors and their clients in meeting
More informationMortgage and Asset Backed Securities Investment Strategy
Mortgage and Asset Backed Securities Investment Strategy Traditional fixed income has enjoyed an environment of falling interest rates over the past 30 years. Average of 10 & 30 Year Treasury Yields (1981
More informationAltegris/AACA Real Estate Long Short Fund RAAAX RAAIX RAANX
MARKET + PORTFOLIO COMMENTARY Q1.2014 Altegris/AACA Real Estate Long Short Fund RAAAX RAAIX RAANX Market Commentary This quarter, real estate stocks (as measured by the Dow Jones US Real Estate Total Return
More informationBuilding Better Alternatives
Building Better Alternatives Equinox Funds builds state-of-the-art alternative strategies for investors seeking diversified returns. At Equinox Funds, we are pioneers in developing investor-friendly alternatives,
More informationGrant Park Multi Alternative Strategies Fund. Why Invest? Profile Since Inception. Consider your alternatives. Invest smarter.
Consider your alternatives. Invest smarter. Grant Park Multi Alternative Strategies Fund GPAIX Executive Summary November 206 Why Invest? 30 years of applied experience managing funds during multiple market
More informationQ Performance Report
Q1 2018 Performance Report Generated by: NASDAQ: TIPRX (A Shares) Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose
More informationZacks All-Cap Core Fund
Zacks All-Cap Core Fund The Fund s primary investment objective is capital appreciation. The Fund s secondary objective is to provide shareholders with income through dividends. This mutual fund may be
More informationALTEGRIS ACADEMY FUNDAMENTALS AN INTRODUCTION TO ALTERNATIVES [1]
ALTEGRIS ACADEMY FUNDAMENTALS AN INTRODUCTION TO ALTERNATIVES [1] Important Risk Disclosure Alternative investments involve a high degree of risk and can be illiquid due to restrictions on transfer and
More information1607 GROUP AT MORGAN STANLEY
W E A L T H M A N A G E M E N T I. Overview TABLE OF CONTENTS: II. 1607 Portfolio III. 1607 Income Growth Portfolio IV. Investment Team WEALTH MANAGEMENT WEALTH MANAGEMENT O V E R V I E W Our Business:
More informationAltegris Managed Futures Strategy Fund
November 1, 2011 Altegris Managed Futures Strategy Fund A Series of Northern Lights Fund Trust Prospectus Class A (MFTAX) Class C (MFTCX) Class I (MFTIX) A D V I S E D B Y Altegris Advisors, LLC 1200 Prospect
More informationACM Dynamic Opportunity Fund
ACM Dynamic Opportunity Fund Style: Managed Risk Institutional - ADOIX Retail (NTF) - ADOAX Available on most major custodians Investment Aim We strive to actively participate during a rising market environment
More informationFUND SUMMARY: NAVIGATOR TACTICAL FIXED INCOME FUND. 1 FUND SUMMARY: NAVIGATOR DURATION NEUTRAL BOND FUND.
TABLE OF CONTENTS FUND SUMMARY: NAVIGATOR TACTICAL FIXED INCOME FUND... 1 FUND SUMMARY: NAVIGATOR DURATION NEUTRAL BOND FUND... 6 FUND SUMMARY: NAVIGATOR EQUITY HEDGED FUND... 10 FUND SUMMARY: NAVIGATOR
More information2017 Kerns Capital Management, Inc. July 2017 Investor Presentation
July 2017 Investor Presentation Table of Contents 1. Executive Summary.............. 1.1 History.......... 1.2 Buy/Sell Discipline........ 2. Investment Strategy... 2.1 Assessment and Implementation 2.2
More informationLJM PRESERVATION AND GROWTH FUND. Class A LJMAX Class C LJMCX Class I LJMIX. A Series of Two Roads Shared Trust
LJM PRESERVATION AND GROWTH FUND Class A LJMAX Class C LJMCX Class I LJMIX A Series of Two Roads Shared Trust Supplement dated April 4, 2017 to the Prospectus dated February 28, 2017 The performance table
More informationConvertible bond investing Invesco s Convertible Securities Strategy
1 Convertible bond investing Invesco s Convertible Securities Strategy Introduction to convertible bonds A primer Convertible securities provide investors the opportunity to participate in the upside of
More informationSUMMARY PROSPECTUS May 1, 2018
Rational/ReSolve Adaptive Asset Allocation Fund (formerly, Rational Dynamic Momentum Fund) Class A : RDMAX Class C : RDMCX Institutional : RDMIX SUMMARY PROSPECTUS May 1, 2018 Before you invest, you may
More informationDoes greater risk equal greater reward?
Does greater risk equal greater reward? The simple answer is not always, which is why investors may look at lower-volatility fund options like GuideStone s Defensive Market Strategies Fund. The Fund aims
More informationALTEGRIS MANAGED FUTURES STRATEGY FUND
ALTEGRIS MANAGED FUTURES STRATEGY FUND Class A Class C Class O Class I Ticker: MFTAX Ticker: MFTCX Ticker: MFTOX Ticker: MFTIX (a series of Northern Lights Fund Trust) Supplement dated July 14, 2014 to
More informationThere is no guarantee that this investment will achieve its objectives, goals, generate positive returns, or avoid losses.
There is no guarantee that this investment will achieve its objectives, goals, generate positive returns, or Important Risk Disclosures Mutual Funds involve risks including the possible loss of principal.
More informationTHE PRUDENTIAL SERIES FUND
THE PRUDENTIAL SERIES FUND PROSPECTUS APRIL 30, 2018 The Prudential Series Fund (the Trust) is an investment vehicle for life insurance companies (the Participating Insurance Companies) writing variable
More informationPART TWO: PORTFOLIO MANAGEMENT HOW EXPOSURE TO REAL ESTATE MAY ENHANCE RETURNS.
PART TWO: PORTFOLIO MANAGEMENT HOW EXPOSURE TO REAL ESTATE MAY ENHANCE RETURNS. MAY 2015 Burland East, CFA CEO American Assets Capital Advisers Creede Murphy Vice President, Investment Analyst American
More informationAltegris Macro Strategy Fund
February 20, 2015 Altegris Macro Strategy Fund A Series of Northern Lights Fund Trust Prospectus Class A (MCRAX) Class C (MCRCX) Class I (MCRIX) Class N (MCRNX) ADVISED BY Altegris Advisors, LLC 1200 Prospect
More informationALTEGRIS MULTI-STRATEGY ALTERNATIVE FUND
ALTEGRIS MULTI-STRATEGY ALTERNATIVE FUND A Shares MULAX C Shares MULCX I Shares MULIX N Shares MULNX (a series of Northern Lights Fund Trust) Supplement dated February 8, 2018 (effective at the close of
More informationAlphaCentric Hedged Market Opportunity Fund
AlphaCentric Hedged Market Opportunity Fund HMXAX HMXCX HMXIX Q1 2018 Presentation Seeks to achieve capital appreciation with lower overall volatility than the equity market For Registered Investment Professional
More informationManaged Futures with Active Fixed Income
Managed Futures with Active Fixed Income Since managed futures provide a return stream uncorrelated with equity markets, they can be a good portfolio diversifier. Matt Osborne, CIO of Altegris and portfolio
More informationFranklin K2 Alternative Strategies Fund
Franklin Templeton Investment Funds Franklin K2 Alternative Strategies Fund Alternatives Fund Profile Fund Details Inception Date 15 September 2014 Investment Style Alternatives Benchmark(s) 1 ICE BofAML
More informationFranklin K2 Long Short Credit Fund
Franklin Templeton Investment Funds Franklin K2 Long Short Credit Fund Alternatives Fund Profile Fund Details Inception Date 02 December 2016 Investment Style Benchmark(s) 1 Alternatives ICE BofAML US
More informationMUTUAL FUND SERIES TRUST Catalyst Macro Strategy Fund. November 13, 2014
MUTUAL FUND SERIES TRUST Catalyst Macro Strategy Fund Class A: MCXAX Class C: MCXCX Class I: MCXIX November 13, 2014 The information in this Supplement amends certain information contained in the currently
More informationAltegris GSA Trend Strategy Fund. Summary Prospectus October 29, 2018
Altegris GSA Trend Strategy Fund Class A: TRNAX Class I: TRNIX Class N: TRNNX 1-877-772-5838 www.altegris.com Summary Prospectus October 29, 2018 Before you invest, you may want to review the Fund s prospectus,
More informationInvesco Diversified Dividend Fund. Building a solid foundation
Invesco Diversified Dividend Fund Building a solid foundation of dividend growers Equity Objective Seeks long-term capital growth with current income as its secondary objective Symbols A: LCEAX C: LCEVX
More informationCatalyst Hedged Commodity Strategy Fund
Catalyst Hedged Commodity Strategy Fund CFHAX, CFHCX & CFHIX 2017 Q4 About Catalyst Funds Intelligent Alternatives We strive to provide innovative strategies to support financial advisors and their clients
More informationDestinations INVESTOR GUIDE. Multi-asset class solutions to meet a range of investor needs. Dynamic portfolios constructed from mutual funds
multi-asset class, dynamic portfolios are designed to deliver consistent returns over the long-term and help individuals stay invested. Risk-based portfolios INVESTOR GUIDE Income-focused portfolios CONSERVATIVE
More informationFund Harvest Edge Absolute Fund... HEANX HEAIX Harvest Edge Equity Fund... HEENX HEEIX Harvest Edge Bond Fund... HEBNX HEBIX
HARVEST EDGE FUNDS PROSPECTUS December 18, 2017 Investor Class Shares Institutional Class Shares Fund Harvest Edge Absolute Fund... HEANX HEAIX Harvest Edge Equity Fund... HEENX HEEIX Harvest Edge Bond
More informationRESQ Absolute Income Fund Class A Shares (RQIAX) Class I Shares (RQIIX) RESQ Absolute Equity Fund Class A Shares (RQEAX) Class I Shares (RQEIX)
RESQ Absolute Income Fund Class A Shares (RQIAX) Class I Shares (RQIIX) RESQ Absolute Equity Fund Class A Shares (RQEAX) Class I Shares (RQEIX) PROSPECTUS December 13, 2013 Adviser: RESQ Investment Partners,
More informationInvestment Management Philosophy
Investment Management Philosophy Executive Overview The investment marketplace has grown increasingly complex and unpredictable for individual investors. This reality may make it difficult for many people
More informationAlphaCentric Income Opportunities Fund Class A: IOFAX Class C: IOFCX Class I: IOFIX SUMMARY PROSPECTUS AUGUST 1, 2017
AlphaCentric Income Opportunities Fund Class A: IOFAX Class C: IOFCX Class I: IOFIX SUMMARY PROSPECTUS AUGUST 1, 2017 Before you invest, you may want to review the Fund s complete prospectus, which contains
More informationNorthCoast CAN SLIM Investment Strategy
NorthCoast CAN SLIM Investment Strategy For Presentation to Morgan Stanley Wealth Management Financial Advisors A growth portfolio with downside risk protection This presentation is to report on the investment
More informationCalamos Phineus Long/Short Fund
Calamos Phineus Long/Short Fund Performance Update SEPTEMBER 18 FOR INVESTMENT PROFESSIONAL USE ONLY Why Calamos Phineus Long/Short Equity-Like Returns with Superior Risk Profile Over Full Market Cycle
More informationMulti-Strategy Total Return Fund A fund seeking attractive risk adjusted returns through a global portfolio of stocks, bonds, and other investments.
SUMMARY PROSPECTUS TMSRX TMSSX TMSAX Investor Class I Class Advisor Class March 1, 2018 T. Rowe Price Multi-Strategy Total Return Fund A fund seeking attractive risk adjusted returns through a global portfolio
More informationAltegris GSA Trend Strategy Fund TRNAX TRNIX TRNNX
MARKET + PORTFOLIO COMMENTARY Q1 2018 Altegris GSA Trend Strategy Fund TRNAX TRNIX TRNNX Market Commentary The charging equity bull tripped and stumbled in Q1. January saw a continuation of the 2017 market
More informationThe Aspiration Funds
The Aspiration Funds Aspiration Flagship Fund Ticker Symbol: ASPFX Aspiration Redwood Fund Ticker Symbol: REDWX Each a series of the Aspiration Funds PROSPECTUS January 30, 2017 This prospectus contains
More informationSTRATEGY OVERVIEW. Long/Short Equity. Related Funds: 361 Domestic Long/Short Equity Fund (ADMZX) 361 Global Long/Short Equity Fund (AGAZX)
STRATEGY OVERVIEW Long/Short Equity Related Funds: 361 Domestic Long/Short Equity Fund (ADMZX) 361 Global Long/Short Equity Fund (AGAZX) Strategy Thesis The thesis driving 361 s Long/Short Equity strategies
More informationInsignia Macro Fund PROSPECTUS JANUARY 28, Class A (IGMFX) Class I (IGMLX)
Insignia Macro Fund PROSPECTUS JANUARY 28, 2019 Class A (IGMFX) Class I (IGMLX) Beginning on January 1, 2021, as permitted by regulations adopted by the U.S. Securities and Exchange Commission ( SEC ),
More informationSchafer Cullen Capital Management High Dividend Value
Product Type: Separate Account Manager Headquarters: New York, NY Total Staff: 56 Geography Focus: Domestic Year Founded: 1983 Investment Professionals: 21 Type of Portfolio: Equity Total AUM: $17,896
More informationDearorn Capital Management, LLC Q3 2018
Consider your alternatives. Invest smarter. Absolute Return Fund Grant Park Managed Futures Fund, LP Multi Alternative Strategies Fund grantparkfunds.com 555 W. Jackson Blvd, Ste. 600 Chicago, IL 60661
More informationDESIGNED FOR TODAY S AND TOMORROW S INVESTMENT CHALLENGES
DESIGNED FOR TODAY S AND TOMORROW S INVESTMENT CHALLENGES PRUDENTIAL REAL ASSETS FUND EFFECTIVE JUNE 11, 2018, THE FUND S NEW NAME WILL BE PGIM REAL ASSETS FUND. FUND SYMBOLS WILL NOT CHANGE. Potential
More informationFortigent Alternative Investment Strategies Model Wealth Portfolios Fortigent, LLC.
Fortigent Alternative Investment Strategies Model Wealth Portfolios Important Disclaimers The information provided is for educational purposes only and is not intended to be, and should not be construed
More informationAspiriant Risk-Managed Equity Allocation Fund RMEAX Q4 2018
Aspiriant Risk-Managed Equity Allocation Fund Q4 2018 Investment Objective Description The Aspiriant Risk-Managed Equity Allocation Fund ( or the Fund ) seeks to achieve long-term capital appreciation
More informationHATTERAS ALPHA HEDGED STRATEGIES FUND
Summary Prospectus April 30, 2017 HATTERAS ALPHA HEDGED STRATEGIES FUND CLASS A CLASS C INSTITUTIONAL CLASS Ticker Symbol: APHAX APHCX ALPIX Before you invest, you may want to review the Hatteras Alpha
More informationABSOLUTE CAPITAL OPPORTUNITIES FUND [ CAPOX ]
ABSOLUTE CAPITAL OPPORTUNITIES FUND [ CAPOX ] FUND INTRODUCTION CAP-INTRO 121118 FINANCIAL INTERMEDIARY USE ONLY 1 PRINCIPAL INVESTMENT RISKS Past performance does not guarantee future results. The Fund
More informationAltegris/AACA Opportunistic Real Estate Fund
Altegris/AACA Opportunistic Real Estate Fund A: RAAAX C: RAACX I: RAAIX N: RAANX 1-877-772-5838 www.altegris.com Summary Prospectus May 1, 2018 Before you invest, you may want to review the Fund s prospectus,
More informationGIPS List of Composite Descriptions
GIPS List of Composite Descriptions Updated 5/12/14 Concentrated Growth Composite-330 Concentrated Growth portfolios, benchmarked to the Russell 1000 Growth Index, take concentrated positions in larger
More informationDid you know that some small and mid-cap stocks also pay dividends?
Did you know that some small and mid-cap stocks also pay dividends? While small and mid-cap stocks have generally outperformed larger-cap stocks over the long term, investors recognize the higher risk
More informationCalvert Absolute Return Bond Fund
Click here to view the Fund s Prospectus Click here to view the Fund s Statement of Additional Information Summary Prospectus dated April 13, 2017 as revised December 11, 2017 Calvert Absolute Return Bond
More informationThe Masters Select Funds Trust
The Masters Select Funds Trust Prospectus (Share Class Ticker Symbol) The Masters Select Equity Fund Institutional Class MSEFX Investor Class MSENX The Masters Select International Fund Institutional Class
More informationScharf Alpha Opportunity Fund Retail Class HEDJX Institutional Class Not available for purchase
Scharf Alpha Opportunity Fund Retail Class HEDJX Institutional Class Not available for purchase SUMMARY PROSPECTUS January 28, 2017 Before you invest, you may want to review the Scharf Alpha Opportunity
More informationWISCONSIN CAPITAL FUNDS, INC. PLUMB BALANCED FUND (PLBBX) PLUMB EQUITY FUND (PLBEX) (collectively, the Funds )
WISCONSIN CAPITAL FUNDS, INC. PLUMB BALANCED FUND (PLBBX) PLUMB EQUITY FUND (PLBEX) (collectively, the Funds ) Supplement dated December 1, 2017 to the Prospectus and Statement of Additional Information
More informationU.S. Dynamic Equity Fund Money Manager and Russell Investments Overview April 2017
Money Manager and Russell Investments Overview April 2017 RUSSELL INVESTMENTS APPROACH Russell Investments uses a multi-asset approach to investing, combining asset allocation, manager selection and dynamic
More informationShort Duration Bond Fund Money Manager and Russell Investments Overview May 2017
Money Manager and Russell Investments Overview May 2017 RUSSELL INVESTMENTS APPROACH Russell Investments uses a multi-asset approach to investing, combining asset allocation, manager selection and dynamic
More informationPROSPECTUS INVESTOR CLASS SHARES MAY 1, 2006
PROSPECTUS INVESTOR CLASS SHARES MAY 1, 2006 TRANSAMERICA PREMIER FUNDS INVESTOR CLASS SHARES Prospectus: May 1, 2006 Equity Funds Transamerica Premier Focus Fund Transamerica Premier Equity Fund Transamerica
More informationDimensional Fund Advisors
Dimensional Fund Advisors Putting Financial Science to Work for You Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission. Consider the investment
More informationSpecial Needs Trust Foundation
Special Needs Trust Foundation Investment Policy Statement January 18, 2013 This investment policy statement should be reviewed and updated at least annually. Any change to this policy should be communicated
More informationTowle Deep Value Fund (Ticker Symbol: TDVFX)
Towle Deep Value Fund (Ticker Symbol: TDVFX) A series of Investment Managers Series Trust Supplement dated February 1, 2018 to the Prospectus, Statement of Additional Information and Summary Prospectus,
More informationThe Tocqueville Trust Prospectus
The Tocqueville Trust Prospectus February 28, 2018 The Tocqueville Fund (TOCQX) The Tocqueville Opportunity Fund (TOPPX) The Tocqueville International Value Fund (TIVFX) The Tocqueville Gold Fund (TGLDX)
More informationSupplement dated December 13, 2018 to the current Summary Prospectus, as may be supplemented
John Hancock Funds II (the Trust) Global Absolute Return Strategies Fund (the fund) Supplement dated December 13, 2018 to the current Summary Prospectus, as may be supplemented The following information
More informationFundSource. Professionally managed, diversified mutual fund portfolios. A sophisticated approach to mutual fund investing
FundSource Professionally managed, diversified mutual fund portfolios Is this program right for you? FundSource is designed for investors who: Want a diversified portfolio of mutual funds that fits their
More informationThere is no guarantee that this investment will achieve its objectives, goals, generate positive returns, or avoid losses.
There is no guarantee that this investment will achieve its objectives, goals, generate positive returns, or Important Risk Disclosures Mutual Funds involve risks including the possible loss of principal.
More informationSUNAMERICA SERIES TRUST SA JPMORGAN MFS CORE BOND PORTFOLIO
SUMMARY PROSPECTUS MAY 1, 2017 SUNAMERICA SERIES TRUST SA JPMORGAN MFS CORE BOND PORTFOLIO (CLASS 1, CLASS 2 AND CLASS 3SHARES) s Statutory Prospectus and Statement of Additional Information dated May
More informationNORTHERN FUNDS AFTER-TAX RETURN RANKINGS
Municipal and Tax-Advantaged Portfolios NORTHERN FUNDS AFTER-TAX RETURN RANKINGS As of September 30, 2017 As the old adage goes It s not what you make, but what you keep. Nothing sums up the potential
More informationWESTERN ASSET MUNICIPAL BOND LADDERS
1Q 2018 Separately Managed Accounts WESTERN ASSET MUNICIPAL BOND LADDERS INVESTMENT PRODUCTS: NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE Introduction Legg Mason Meet our investment managers Having
More informationDimensional Fund Advisors
Dimensional Fund Advisors Putting Financial Science to Work for You Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission. Consider the investment
More informationMeeder Asset Management, Inc.
Meeder Asset Management, Inc. Advisory Services Brochure Form ADV Part 2A 6125 Memorial Drive Dublin, Ohio 43017 (800) 325-3539 www.meederinvestment.com March 29, 2019 This brochure provides information
More informationGlobal Equity Fund Money Manager and Russell Investments Overview January 2018
Money Manager and Russell Investments Overview January 2018 RUSSELL INVESTMENTS APPROACH Russell Investments uses a multi-asset approach to investing, combining asset allocation, manager selection and
More informationImproving the Target Date Fund Selection
Improving the Target Date Fund Selection INSIDE: By Chris Karam Executive Summary The target date selection process has dramatically changed over the last five years, aided by government regulations, an
More informationAdministrator Class. Wells Fargo C&B Large Cap Value Fund. Wells Fargo Diversified Equity Fund. Wells Fargo Emerging Growth Fund
Prospectus October 1, 2017 Equity Gateway Funds Fund Wells Fargo C&B Large Cap Value Fund Wells Fargo Diversified Equity Fund Wells Fargo Emerging Growth Fund Wells Fargo Index Fund Wells Fargo International
More informationEventide Multi-Asset Income Fund
Eventide Multi-Asset Income Fund Presentation June 30, 2017 8/18/17 Eventide Asset Management, LLC. 1 Eventide Funds: At A Glance Founded in 2008 Headquartered in Boston, MA Vision: to offer high performance
More informationMulti-Asset Income Investing
LEADERSHIP SERIES Multi-Asset Income Investing Look for go-anywhere flexibility focused on income and guided by a risk framework Adam Kramer l Portfolio Manager Jim Morrow l Portfolio Manager Ford O Neil
More informationAltegris Multi-Strategy Alternative Fund MULAX MULIX MULNX
MARKET + PORTFOLIO COMMENTARY Q3.2014 Altegris Multi-Strategy Alternative Fund MULAX MULIX MULNX Market Commentary Despite plenty of headline-grabbing news, global markets largely shrugged off a potentially
More informationTower Square Investment Management LLC Strategic Aggressive
Product Type: Multi-Product Portfolio Headquarters: El Segundo, CA Total Staff: 15 Geography Focus: Global Year Founded: 2012 Investment Professionals: 12 Type of Portfolio: Balanced Total AUM: $1,422
More informationHilton Capital Management FOCUSED. DILIGENT. DRIVEN.
Hilton Capital Management FOCUSED. DILIGENT. DRIVEN. Hilton Capital Management is a boutique asset manager founded in 2001. With over $635 million in assets under management, the firm s mission is to seek
More informationAll Asset and All Asset All Authority PIMCO All Asset Strategy
All Asset and All Asset All Authority PIMCO All Asset Strategy A highly differentiated and diversified tactical asset allocation strategy that combines the strengths of PIMCO and Research Affiliates two
More informationSeparately Managed Accounts. Investment Advisory Solutions for Today s Complex Markets
Separately Managed Accounts Investment Advisory Solutions for Today s Complex Markets Contents Consulting Group Overview Resources The GIC and Global Investment Manager Analysis Separately Managed Accounts
More informationCatalyst Absolute Total Return Fund Class A: ATRAX Class C: ATRCX Class I: ATRFX
Catalyst Absolute Total Return Fund Class A: ATRAX Class C: ATRCX Class I: ATRFX SUMMARY PROSPECTUS JULY 22, 2014 Before you invest, you may want to review the Fund s complete prospectus, which contains
More informationPIMCO Variable Insurance Trust
PIMCO Variable Insurance Trust Supplement Dated May 1, 2017 to the Administrative Class Prospectus, Institutional Class Prospectus, and Advisor Class and Class M Prospectus, each dated April 28, 2017,
More informationADVISORY SERVICES - WRAP FEE PROGRAMS SEC Number: DISCLOSURE BROCHURE
ADVISORY SERVICES - WRAP FEE PROGRAMS SEC Number: 801-43561 AUGUST 15, 2016 DISCLOSURE BROCHURE This Brochure provides information about the qualifications and business practices of Century Securities
More informationHATTERAS Alternative Mutual Funds. Fund of funds in a mutual fund
HATTERAS Alternative Mutual Funds Fund of funds in a mutual fund Table of Contents Hatteras Alternative Mutual Funds...................................... 2 Investment Process.................................................10
More informationThis supplement should be read in conjunction with your Prospectus and should be retained for future reference.
Supplement dated September 3, 2015 to the Currently Effective Prospectus of Advanced Series Trust, The Prudential Series Fund, and Prudential s Gibraltar Fund, Inc. This supplement should be read in conjunction
More informationPractical Solutions for Today s Bond Markets VIRTUS SEIX LEVERAGED FINANCE FUNDS
Practical Solutions for Today s Bond Markets VIRTUS SEIX LEVERAGED FINANCE FUNDS The Challenge In a market environment defined by low yields, volatility, and rising interest rates, investors are seeking
More informationDiversified Managed Allocations
Diversified Managed Allocations Multi-strategy portfolios with a focus on flexibility Is this program right for you? DMA is designed for investors who: Want experienced, professional money managers to
More informationALTEGRIS FUTURES EVOLUTION STRATEGY FUND
ALTEGRIS FUTURES EVOLUTION STRATEGY FUND Class A Class C Class I Class N Ticker: EVOAX Ticker: EVOCX Ticker: EVOIX Ticker: EVONX (a series of Northern Lights Fund Trust) Supplement dated November 14, 2014
More informationALPHACENTRIC GLOBAL INNOVATIONS FUND Class A: GNXAX Class C: GNXCX Class I: GNXIX
ALPHACENTRIC GLOBAL INNOVATIONS FUND Class A: GNXAX Class C: GNXCX Class I: GNXIX SUMMARY PROSPECTUS AUGUST 1, 2018 Before you invest, you may want to review the Fund s complete prospectus, which contains
More informationSHORT DURATION BOND FUND
SHORT DURATION BOND FUND Money Manager and Russell Investments Overview January 2019 Russell Investments approach Russell Investments uses a multi-asset approach to investing, combining asset allocation,
More information