DENVER--(BUSINESS WIRE)--361 Capital, an award-winning*, liquid alternative investments firm focused on providing institutional quality mutual funds, announced today that the 361 Global Long/Short Equity Fund (AGAZX) reached its one-year track record on January 6, 2015, handily beating its benchmarks and placing in the top eight percent of the Morningstar Long/Short Equity Category out of 349 funds for the one year period ended January 31, 2015 (based on total return).
The 361 Global Long/Short Equity Fund is sub-advised by Los Angeles-based Analytic Investors and uses the same investment strategy as the Analytic Global Long/Short Equity Composite, which commenced December 2009. The Fund is quantitatively focused, using a systematic approach to identify and exploit market inefficiencies. It seeks to achieve long-term capital appreciation by participating in rising markets and preserving capital in down markets.
|As of 1/31/2015||
As of 12/31/2014
|Total Returns**||1 Year||
|361 Global Long/Short Equity Fund||12.16%||9.95%||5.51%||11.78%|
|MSCI World Index||7.00%||3.99%||1.01%||6.20%|
|Morningstar Long/Short Equity Category Average||3.07%||1.77%||1.33%||3.45%|
Annual Expense Ratio Class I Shares: Gross 2.22% / Net 2.08%†. Ratio after fee waiver and/or expense reimbursement (less 0.39% excluded expenses): 1.69%
“Funds that can perform and control risk in volatile environments play a key role within a portfolio, and the 361 Global Long/Short Equity Fund has been a proven performer,” said Tom Florence, President and CEO of 361 Capital. “There aren’t many funds in the market that have demonstrated the kind of success that this Fund has over the last year and five years for the composite.”
Fund managers seek to reduce volatility and equity market risk†† in the 361 Global Long/Short Equity Fund by maintaining a low equity market beta. But unlike other low volatility strategies, fund managers also dynamically adjust the portfolio based on changing risk profiles of global markets and individual securities in the portfolio – fine-tuning the portfolio to take advantage of whether value fundamentals or growth fundamentals are leading the market.
“With low-risk stocks outperforming both high-risk stocks and the investment universe in the fourth quarter of 2014, this is a favorable environment for our Global Long/Short strategy,” said Harin de Silva, Ph.D., CFA, President and Portfolio Manager of Analytic Investors, and sub-advisor to the Fund. “Our short exposures to the Energy and Materials sectors led performance at the sector level. Country allocations – particularly an underweight position to the United Kingdom – provided moderate gains, while excellent stock selection within the U.S. helped the portfolio outperform the investment universe.”
About 361 Capital
361 Capital is an award-winning*, liquid alternative investments firm focused on providing institutional quality mutual funds to investment advisors and their clients. Since its founding in 2001, the firm has been exclusively focused on alternative investments, creating innovative portfolio solutions that seek to lower risk, enhance returns, and provide transparency. This experience has provided 361 Capital with a deep understanding of the strategies that make up alternative investing, including long/short equity, managed futures, market neutral, global macro, and multi-alternative. Today, the firm combines its investment skills and experience with that of other high quality alternative investment managers to offer a family of single-manager alternative mutual funds. 361 Capital’s goal is to provide its clients with the highest quality mutual funds, whether managed by 361 Capital, or sub-advised by another proven alternative investment firm. The firm distributes its products through investment advisors and institutions. For more information, call 866-361-1720 or visit www.361capital.com.
About Analytic Investors
Founded in 1970, Analytic Investors is an employee-owned, boutique asset management firm with approximately $11 billion in assets under management. The firm employs a quantitative investment process in managing assets for institutional and mutual fund investors in the United States, Australia, Europe, Canada and Japan. The Los Angeles-based firm offers a variety of global and regional investment products including traditional equity, low volatility equity, long/short equity and option-based strategies. Analytic Investors specializes in the application of modern quantitative tools and is a leader in the application of risk-managed strategies. The firm believes that the use of such techniques allows it to fulfill clients' objectives through rational, systematic identification of market opportunities. More information is available at www.aninvestor.com.
The performance data quoted here represents past performance. Past performance is no guarantee of future results. Investment return and principal value will fluctuate, so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance information quoted. To obtain performance information current to the most recent month-end, please call 1-888-736-1227.
*Awards: CTA Intelligence US Performance Awards 2014, Best Managed Futures Mutual Fund, http://www.ctaperformanceawards.com. The CTA Intelligence Performance Awards recognize and reward those CTAs who have successfully outperformed their competitors over the last twelve months. HFM US Performance Awards 2013, Newcomer – Managed Futures (CTA), http://www.hfmweek.com. The HFMWeek U.S. Performance Awards celebrate those funds that have stood out in the competitive market over the past twelve months, honoring those that have outperformed their peers and demonstrated impressive growth through the volatility of the last year. International Hedge Fund Awards 2014, 40 Act Mutual Fund of the Year - 361 Managed Futures Strategy Fund and Hedge 100, http://www.acquisition-intl.com. Acquisition International’s International Fund Awards honor outstanding fund performance and continued organizational excellence within the global financial services industry.
**Returns shown over one year are average annual total returns. The Analytic Global Long/Short Equity Fund, L.P. (the “Predecessor Account”) was a limited partnership that commenced operations on January 6, 2014 and reorganized into the Fund on December 12, 2014. The Fund’s objectives, policies, guidelines and restrictions are, in all material respects, equivalent to those of the Predecessor Account. Performance shown prior to December 12, 2014 is that of the Predecessor Account and has not been adjusted to reflect the expenses of the Fund’s Class I shares, which are lower than the expenses of the Predecessor Account. If the Class I expenses were reflected, the Predecessor Account returns would be higher than those shown. However, the Predecessor Account was not registered under the Investment Company Act of 1940 and therefore was not subject to certain restrictions on regulated investment companies. If the Predecessor Account had been registered its performance may have been lower.
†The Advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, and extraordinary expenses such as litigation expenses) do not exceed 1.69% of the average daily net assets of Class I shares of the Fund. This agreement is in effect until February 28, 2016, and it may be terminated before that date only by the Trust’s Board of Trustees. The Fund’s advisor is permitted to seek reimbursement from the Fund, subject to certain limitations, of fees waived or payments made to the Fund for a period of three years from the date of the waiver or payment.
††Risk is defined in terms of beta. Beta is a measure of systematic volatility that is calculated using regression analysis of a security’s return relative to the return of the overall market. A beta of less than 1 indicates the stock’s price is less volatile than the market, while a beta of greater than 1 indicates the stock’s price is more volatile than the market. A beta of 1 indicates that the stock is equally volatile as the market.
Alpha measures the difference between a fund’s actual and expected returns, based on beta, and is generally used as a measure of a manager’s added value over a passive strategy.
Morningstar rankings do not include the effect of a fund’s sales charge and are subject to change.
Investors should consider the 361 Funds’ investment objectives, risks, charges and expenses carefully before investing. For a prospectus, or summary prospectus, that contains this and other information about the Funds, call 1-888-736-1227 or visit www.361capital.com. Please read the prospectus or summary prospectus carefully before investing.
Past performance does not guarantee future results. The Fund’s performance may be influenced by political, social and economic factors affecting investments in foreign markets, including exposure to currency fluctuations relative to the U.S. dollar, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability, and differing auditing and legal standards. Emerging markets tend to be more volatile than the markets of more mature economies. The value of securities held by the Funds may fall due to general market and economic conditions. The securities of small-cap companies may be subject to more abrupt or erratic market movements; trading may be more erratic or have lower volume than securities of larger companies. Fixed income securities are subject to the risk that securities could lose value because of interest rate, inflation and credit changes.
Derivatives can be highly volatile, illiquid and difficult to value, and changes in the value of a derivative held by the Funds may not correlate with the underlying instrument or the Funds’ other investments. The Funds may make short sales, which may expose the Funds to the risk that it will be required to "cover" the short position at a time when the underlying instrument has appreciated in value, thus resulting in a loss to the Funds. Losses may be incurred even if they are “covered.” The use of leverage may further magnify the Funds’ gains or losses.
Funds’ performance may be more vulnerable to changes in the market value of a single position and more susceptible to risks associated with a single economic, political or regulatory occurrence than a diversified fund. The Funds may have limited or no track record on which to base investment decisions. Regulators may undertake rulemaking, supervisory or enforcement actions that would adversely affect the Funds. Active and frequent trading may lead to a greater proportion of the Funds’ gains being treated for federal income tax purposes as short-term capital gains or to distribute taxable income to its shareholders sooner than it would have distributed income if the investments were held for longer periods of time. Frequent trading and overlapping security transactions including ETFs would also result in transaction costs, which could detract from performance.
Alternative Investments are speculative and involve substantial risks. It is possible that investors may lose some or all of their investment.
The 361 Funds are distributed by IMST Distributors, LLC.