Address And Details

One Franklin Pkwy , San Mateo, CA 94403
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

Capital appreciation with lower volatility relative to the broad equity markets. The Fund seeks to achieve its investment goal by allocating its assets across multiple non-traditional or alternative strategies, including, but not limited to, some or all of the following strategies: Long Short Equity, Relative Value, Event Driven and Global Macro, each of which is described below. The Fund is structured as a multi-manager fund (meaning the Fund's assets are managed by multiple sub-advisors) and the Funds investment manager, K2/D&S Management Co., L.L.C. (doing business as K2 Advisors; "K2 Advisors" or the Investment Manager has overall responsibility for the Funds investments. The Investment Manager principally allocates the Funds assets among multiple sub-advisors who, as of the date of this prospectus, are unaffiliated with K2 Advisors and who are implementing one or more non-traditional or alternative investment strategies "Sub-Advisors").The Fund may invest in a wide range of securities and other investments including, but not limited to: equity securities (which may include common stocks, preferred stocks and convertible securities) and debt securities (which may include bonds, notes, debentures, bankers acceptances and commercial paper).The Fund may invest in securities of U.S. and foreign companies of any capitalization size. Up to 15% of the Funds net assets may be invested in illiquid investments. In addition, the debt securities in which the Fund may invest may have variable or fixed interest rates, may be of any maturity or credit rating, and may include sovereign debt, high yield (junk) bonds and distressed debt securities (securities of companies that are, or are about to be, involved in reorganizations, financial restructurings, or bankruptcy) and securities that are in default. The Fund may engage in active and frequent trading as part of its investment strategies. The Fund may also use derivatives for both hedging and non-hedging (investment) purposes, although no Sub-Advisor is required to hedge any of the Funds positions or to use derivatives. The Funds derivative investments may include, among other instruments: (I) futures contracts, including futures based on equity or fixed income securities and indices, interest rate/bond futures, currency futures, currency index futures, and options thereon; (ii) swaps, including equity, currency, interest rate, total return and credit default swaps and options thereon; (iii) options, including call options and put options on indices, individual securities, currencies and exchange-traded funds; and (iv) currency forward contracts. These derivatives may be used to enhance Fund returns, increase liquidity, gain exposure to certain instruments or markets in a more efficient or less expensive way and/or hedge risks associated with its other portfolio investments. The results of such transactions may also represent, from time to time, a material component of the Funds investment returns. As a result of the Funds use of derivatives, the Fund may have economic leverage, which means the sum of the Funds investment exposures through its use of derivatives may significantly exceed the amount of assets invested in the Fund, although these exposures may vary over time. The Fund may take long and/or short positions in a wide range of asset classes, including equities, fixed income, commodities and currencies, among others. Long positions benefit from an increase in the price of the underlying instrument or asset class, while short positions benefit from a decrease in that price. The Investment Manager may from time to time use derivatives to adjust the Fund's exposure to certain asset classes in a manner consistent with its conditional risk overlay strategy (CRO Strategy).

Net Asset Value

as of 6:07 PM ET 09/17/2021

Performance

  • 1 Week
  • -0.16%
  • 1 Month
  • +0.40%
  • 3 Months
  • +0.64%
  • 1 Yr Return
  • +8.06%
  • 5 Yr Return
  • +17.10%

Equity Sector Breakdown

Technology 11.74%
RetailTrade 6.66%
Finance 6.49%
IndustrialCyclical 6.39%
Health 5.41%
Services 4.76%
NonDurables 4.18%
Utilities 1.69%
ConsumerDurables 1.40%
Energy 0.24%

Asset Allocation

Asset Type % Of Allocation
Stocks 41.15%
Convertible 13.11%
ForeignStocks 9.07%
Other 0.06%
Preferred 0.05%
Cash 0.00%
Bonds 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 104.59 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -3.03 -2.34 n/a
Beta 0.30 0.30 n/a
R Squared 0.81 0.79 n/a
Std Deviation 6.26 5.02 n/a
Sharpe Ratio 0.35 0.53 n/a

Purchase Information

as of 6:47 PM ET 09/15/2021
Minimum Initial $1000
Minimum Additional $0
Minimum Initial IRA $250

Performance

Timeframe Average Annual Current Performance Monthly As Of 08/31/2021 Average Annual Current Performance Quarterly As Of 06/30/2021 Avg Annual Current Performance Monthly As Of 08/31/2021 Avg Annual Current Performance Quarterly As Of 06/30/2021
1 Year
  • +9.65%
  • +12.61%
+9.65% +12.61%
3 Year
  • +4.41%
  • +4.58%
+4.41% +4.58%
10 Year
  • n/a
  • n/a
n/a n/a
Life Of Fund
  • +4.10%
  • +4.13%
+4.10% +4.13%

Top 10 Holdings

Symbol Company Name % Of Assets
WLTW WILLIS TOWERS WATSON PUBLIC 0.79%
PFPT ~PROOFPOINT INC 0.74%
WORK SLACK TECHNOLOGIES INC 0.63%
SHW SHERWIN WILLIAMS CO/THE 0.63%
BLL BALL CORP 0.63%
PYPL PAYPAL HOLDINGS INC 0.60%
MXIM MAXIM INTEGRATED PRODUCTS INC 0.55%
KSU KANSAS CITY SOUTHERN 0.49%
GOOGL ALPHABET INC CLASS A 0.49%
DHR DANAHER CORP 0.48%

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