Fund Portfolio Commentary

Portfolio Commentary for the Absolute Strategies Fund is provided on a quarterly basis. Additional information can be found within the shareholder letters in the Annual and Semi-Annual Reports. If you are a financial adviser and would like to be added to our e-mail distribution list, contact us by e-mail.

“We hope investors and advisors can recognize the need for diversification away from a 100% passive, beta portfolio and re-introduce strategies that may provide some defense by taking advantage of difficult, volatile environments. We believe the last few years were not indicative of a free market system, nor a fair market test for strategies like ours given the flood of liquidity and interference by global central banks… Many of our competitors benefited from our headwinds by posting what appeared to be solid performance. However, the past few months (much like hedge funds in 2007-2009) have proven that many of our alternative investment competitors are nothing more than a complex idea inside a beta-chasing wrapper, or worse… Not only are they failing to provide any diversification benefit, many are actually leveraged to the same beta investments that exist across a traditional investor portfolio…Our philosophy and process, on the other hand, has never varied. We do not chase risk. We do not chase beta. We do not claim to be something we are not. We recognize that certain market environments will be challenging.”” [ read all ]