Investment Objective

The Fund seeks long-term capital appreciation. 

Investment Approach

The Fund pursues a “defensive” strategy that seeks to provide equity-like returns with lower volatility and draw-downs relative to traditional equity through active stock selection, risk management and diversification.

The investment universe for the Fund is comprised of Emerging Markets equities, including large-cap, mid-cap and small-cap companies.

The Fund seeks to invest in lower beta[1] stocks of companies with stable businesses, high profitability, low operating and financial leverage, lower earnings-per-share variability and other measures of quality.

These stocks generally are less volatile than the market average, and are expected to produce higher risk-adjusted returns over a full market cycle than market indexes.

The Fund utilizes a proprietary optimization process and a number of sophisticated trading techniques to manage transaction costs.

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[1] Beta is a measure of a stock’s sensitivity to movements of the overall stock market.

Performance Summary