Investment Objective

Seeks long-term absolute (positive) returns. 

Investment Approach

The Fund’s portfolio managers use proprietary quantitative models to identify price trends in equity, fixed income, currency and commodity instruments. Once a trend is determined, the Fund will take either a long or short position in the given instrument. The size of the position will be related to the forecasted risk of the instrument and the probability of the trend continuing.

When taking a “long” position, the futures contract provides a positive return if the price of the underlying asset price increases, and a negative return if the asset price decreases. When taking a “short” position, the futures contract provides a positive return when the price of the underlying asset price decreases, and a negative return if the asset price increases.

By establishing “long” positions in assets that the portfolio managers believe will rise in price, and “short” positions for assets that are expected to decline in price, the Fund seeks to benefit from both up and down price movements.

Futures-related instruments include equity index futures, currency forwards, commodity futures, swaps on commodity futures, fixed income futures and bond futures, as well as exchange-traded funds or exchange traded notes that are linked to these contracts.

This Fund's strategy will target a volatility of 15%.

Performance Summary