Aperture Investors’ Second Performance-Linked Fund Now Available in the U.S.

The Aperture Endeavour Equity Fund seeks to identify compelling investment opportunities from global, publicly traded equities

NEW YORK--()--Aperture Investors, a new asset manager with a disruptive fee and manager compensation model, today announced the availability of its second fund in the U.S. - the Aperture Endeavour Equity Fund (ticker: ATOMX), led by Tom Tully, a portfolio manager with over a decade of investing experience at industry-leading hedge funds. The strategy seeks a return in excess of the MSCI ACWI hedged to USD Net Total Return Index (M1CXADB) through a focused portfolio of investments in global equity securities. The fund also went live in a UCITS vehicle on September 3.

The Aperture Endeavour Equity Fund is comprised primarily of long positions in companies that are researched and selected for their potential to generate outperformance of the benchmark. The selection process is grounded in the philosophy of “life cycle investing” and a belief that stock prices are driven by a cycle of investor behavior. With this in mind, the Fund endeavors to identify companies with stock prices that reflect an under-appreciation or misunderstanding of four key metrics: the addressable market, operating margins, underlying business economics, and management. Opportunistically, the fund may also take short positions when there is belief it will not only underperform, but could also produce outperformance (rather than to add leverage, buy additional stocks, or to reduce market exposure).

“The global equity market is ripe with opportunities for outstanding returns. Exploring and identifying these opportunities across different cultures and operating environments is my driving passion,” said Tom Tully, Portfolio Manager, Aperture Investors. “By not confining ourselves to a specific market, I believe that we expose our clients to the largest possible opportunity set.”

The Aperture Endeavour Equity Fund identifies compelling investment opportunities from a global universe of publicly traded equities and seeks outperformance over the MSCI ACWI hedged to USD Net Total Return Index (M1CXADB). The strategy was seeded by Generali with $150 million, $25 million in a U.S. ‘40 Act fund and $125 million in a Luxembourg-based UCITS fund. The Fund utilizes Aperture’s unique fee structure. When performance is at or below the benchmark, Aperture charges a 0.44 percent total net expense ratio (1.54% before fee waivers), competitive with passive ETFs in the global equities category. As outperformance is generated, Aperture charges a 30 percent performance-linked fee on returns in excess of the Fund's benchmark. The Fund’s total net expense ratio in the event that the Fund’s performance equals the performance of the benchmark plus 5% would be 1.94 percent (3.04% before fee waivers). The total net expense ratio cannot increase past 3.44 percent (4.54% before fee waivers), where outperformance of the benchmark equals 10 percent.*

“At Aperture, we believe that shifting the way portfolio managers are compensated will result in a drastic - and much needed - change to the asset management industry,” said Peter Kraus, Chairman and CEO, Aperture Investors. “The launch of the Endeavour Equity Fund is another step towards our vision of an industry in which manager and client incentives are aligned.”

To learn more about the Aperture Endeavour Equity Fund and how to invest, please visit: https://apertureinvestors.com/.

About Aperture Investors

Aperture is reestablishing trust in the asset management industry by aligning client interests with its own. Its mission is outperformance. Aperture strategies charge low fees comparable with passive ETFs in the same category, when performance is at or below stated benchmarks. When and only when returns are generated in excess of a strategy’s benchmark, Aperture charges a performance-linked fee. Aperture investment teams are also compensated primarily on outperformance rather than assets under management. Led by industry veteran Peter Kraus in partnership with Generali, one of the world’s largest insurers, Aperture’s mission is embedded in its fee and compensation structures, as well as in the ways it openly engages with the investing community online. To learn more about Aperture, its managers, and its innovative structure, visit us at www.apertureinvestors.com.

*Adviser has contractually agreed to waive fees until April 30, 2021.

The Aperture Endeavour Equity Fund is distributed by SEI Investments Distribution Co. (SIDCO). SIDCO is not affiliated with Aperture Investors LLC or Generali.

To determine if the Fund is an appropriate investment for you, carefully consider the fund investment objectives, risk, and charges and expenses. This and other information can be found in the fund (full and summary) prospectus which can be obtained by calling 888-514-7557 or by visiting www.apertureinvestors.com. Please read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. There is no guarantee the fund will achieve its stated objective. International investments may involve risk or capital loss from unfavorable fluctuations in currency values, differences in generally accepted accounting principles or from social, economic or political instability in other nations. Emerging markets involve heightened risks related to these factors as well as increased volatility and lower trading volume. With short sales, you risk paying more for a security than you received from its sale. Short sale losses are potentially unlimited and the expense involved with the shorting strategy may negatively impact the performance of the fund. The Fund may use derivatives and leverage, which may increase volatility and magnify the Fund’s gains or losses. This Fund is non-diversified.

Contacts

Kate Gundry
aperture@pluckpr.com
617-797-5174

Contacts

Kate Gundry
aperture@pluckpr.com
617-797-5174