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Manage Risk. Fight Volatility. AC Alternatives Market Neutral Value Fund is a portfolio diversifier seeking long-term capital appreciation with low volatility and no correlation to the stock market.
Seeks long-term capital growth, independent of equity market conditions.
The fund seeks to limit broad stock market risk while delivering consistent performance characteristics regardless of market conditions:
The Fund is managed by a veteran team whose value philosophy dates back to 1993. The fund will:
With its uncommon performance characteristics, the Fund may complement an investor’s traditional stock and bond investments and help manage overall portfolio threats such as:
There are risks associated with selling short, including the risk that the fund may have to cover its short positions at a higher price than the short price, resulting in a loss. The fund's loss on a short sale is potentially unlimited, as a loss occurs when the value of a security sold short increases. The fund may invest in medium-sized and smaller companies, which may be more volatile and subject to greater short-term risk than larger companies. There is no guarantee that the investment objectives will be met. Dividends and yields represent past performance and there is no guarantee that they will continue to be paid. Alternative mutual funds that hold a variety of non-traditional investments also often employ more complex trading strategies than traditional mutual funds. Each of these different alternative asset classes and investment strategies have unique risks making them more suitable for investors with an above average tolerance for risk.
Past performance is no guarantee of future results.
The fund is managed by a veteran team whose value philosophy dates back to 1993. The fund will:
With its uncommon performance characteristics, AC Alternatives Market Neutral Value Fund may complement an investor's traditional stock and bond investments and help manage overall portfolio threats such as:
Average annual total returns illustrate the annual compounded returns that would have produced the cumulative total return if the fund's performance had remained constant throughout the period indicated. Returns for periods less than one year are not annualized.
For periods prior to the inception of a class, performance is for the oldest class, restated with applicable fees, if any.
Senior Vice President, Executive Portfolio Manager
Chief Investment Officer — Global Value Equity, Senior Vice President, Senior Portfolio Manager
Vice President, Senior Portfolio Manager
Portfolio Manager, Senior Investment Analyst
Returns or yields for the fund would have been lower if a portion of the management fee had not been waived. Review the annual or semiannual report for the most current information.
There are risks associated with selling short, including the risk that the fund may have to cover its short positions at a higher price than the short price, resulting in a loss. The fund's loss on a short sale is potentially unlimited, as a loss occurs when the value of a security sold short increases.
Historically, small- and/or mid-cap stocks have been more volatile than the stock of larger, more-established companies. Smaller companies may have limited resources, product lines and markets, and their securities may trade less frequently and in more limited volumes than the securities of larger companies.
Alternative mutual funds that hold a variety of non-traditional investments also often employ more complex trading strategies than traditional mutual funds. Each of these different alternative asset classes and investment strategies have unique risks making them more suitable for investors with an above average tolerance for risk.
Only Investor Class shares are made available to investors directly. Advisor, A, C, I, and Y Classes of shares are only available for purchase by institutions or other financial intermediaries. R, R5, and R6 Classes of shares are only available for purchase by group employer-sponsored retirement plans. Review definitions and minimums for all share classes.
Please see the prospectus for details about sales charges.
The gross expense ratio is the fund's total annual operating costs, expressed as a percentage of the fund's average net assets for a given time period. It is gross of any fee waivers or expense reimbursement. The net expense ratio is the expense ratio after the application of any waivers or reimbursement. This is the actual ratio that investors paid during the fund's most recent fiscal year. Please see the prospectus for more information.
Lipper rankings are based on average annual total returns. Portions of the mutual fund performance information contained on this page were supplied by Lipper, a Thomson Reuters Company, subject to the following: Copyright ©2021 Thomson Reuters. All rights reserved. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Performance data is preliminary and subject to revision. Rankings are based on all classes available within the classification as of the date shown. Rankings are based only on the universe shown.
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Source: Bloomberg Index Services Ltd
The Dow Jones AveragesSM and The Dow Jones Global IndexesSM are compiled, calculated and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones AveragesSM and The Dow Jones Global IndexesSM ©2021 Dow Jones & Company, Inc. All Rights Reserved.
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