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Address And Details

840 Newport Center Dr., Ste. 100 , Newport Beach, CA 92660
Fund Manager Team Managed
Manager Tenure

Strategy And Objective

The Fund seeks total return which exceeds that of its benchmark.The Fund seeks to exceed the total return of the Russell 1000 Value Index under normal circumstances by obtaining exposure to a portfolio of stocks of U.S. companies ( RAE US Large Model Portfolio ), and complementing this equity exposure with absolute return bond alpha strategy (AR Bond Alpha Strategy).The stocks are selected by the Funds sub-adviser, Research Affiliates (Sub-Adviser),from a broad universe of companies which satisfy certain liquidity and capacity requirements. Under normal circumstances equity total return swaps are used to obtain exposure to the RAE US Large Model Portfolio. The Sub-Adviser uses the RAE methodology for portfolio construction. The RAE methodology is a rules-based model that selects stocks using quantitative signals that indicate higher expected returns, e.g., value, quality, and momentum. The model then weights selected stocks by using their fundamental measures of company size,e.g.,sales, cash flow, divid ends and book value. The Sub-Adviser applies the RAE methodology to large and mid-sized U.S. companies as determined by cumulative fundamental measures of company size for the RAE US Large Model Portfolio. The fundamental weights of U.S. companies are sorted in descending order where the top cumulative 86% weights are eligible as Back To Table of Contents large and mid-sized companies. Actual stock positions in the RAE US Large Model Portfolio, which drift apart from target weights as market prices change, are rebalanced to target weights periodically. The RAE methodologys systematic portfolio rebalancing reflects a value orientation. Portfolio managers do not have discretion with respect to the allocations determined by the RAE methodology. The RAE methodology is not updated according to any pre determined schedule.The Sub-Adviser provides investment advisory services in connection with the Funds swap-based exposure to the RAE US Large Model Portfolio by, among other things, providing PIMCO, or counter parties designated by PIMCO, with the RAE US Large Model Portfolio for purposes of developing equity total return swaps based on the RAE US Large Model Portfolio. In a typical swap agreement, the Fund will receive the total return of the RAE US Large Model Portfolio from the counter party to the swap agreement in exchange for paying the counter party an agreed upon short-term interest rate.Because the RAE US Large Model Portfolio is a proprietary portfolio,there may be a limited number of counter parties willing or able to serve as counter parties to a swap agreement. If such swap agreements are not available, or if swap pricing is unattractive or for other reasons, the Fund may invest in other instruments, baskets of stocks, or individual securities to replicate the performance of the RAE US Large Model Portfolio.The Fund seeks to remain exposed to the RAE US Large Model Portfolio even when the value of the RAE US Large Model Portfolio is declining.

Net Asset Value

as of 6:48 PM ET 12/07/2021


  • 1 Week
  • +3.63%
  • 1 Month
  • -2.97%
  • 3 Months
  • -4.06%
  • 1 Yr Return
  • +3.31%
  • 5 Yr Return
  • -1.15%

Equity Sector Breakdown

Finance 0.25%
ConsumerDurables n/a
Energy n/a
Health n/a
IndustrialCyclical n/a
NonDurables n/a
RetailTrade n/a
Services n/a
Technology n/a
Utilities n/a

Asset Allocation

Asset Type % Of Allocation
Preferred 0.18%
Stocks 0.09%
Cash 0.00%
Bonds 0.00%
Convertible 0.00%
Other 0.00%
ForeignStocks 0.00%
ForeignBonds 0.00%
ForeignHedged 0.00%
Total Net Assets 663.13 M

Risk Measures

Criteria 3 Years 5 Years 10 Years
Alpha -9.45 -6.45 -3.24
Beta 1.17 1.14 1.13
R Squared 0.88 0.87 0.88
Std Deviation 23.16 18.77 15.63
Sharpe Ratio 0.64 0.76 n/a

Purchase Information

as of 6:46 PM ET 12/06/2021
Minimum Initial $1000000
Minimum Additional $0
Minimum Initial IRA $0


Timeframe Average Annual Current Performance Monthly As Of 11/30/2021 Average Annual Current Performance Quarterly As Of 09/30/2021 Avg Annual Current Performance Monthly As Of 11/30/2021 Avg Annual Current Performance Quarterly As Of 09/30/2021
1 Year
  • +24.49%
  • +39.56%
+24.49% +39.56%
3 Year
  • +12.21%
  • +9.97%
+12.21% +9.97%
10 Year
  • +14.37%
  • +15.51%
+14.37% +15.51%
Life Of Fund
  • +11.42%
  • +11.49%
+11.42% +11.49%

Top 10 Holdings

Symbol Company Name % Of Assets


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