ABSOLUTE Funds

Absolute Strategies Fund  [ASFIX]

Inception Date:
July 25, 2005

Structure:
Open-End Mutual Fund

Ticker:
ASFIX

Share Classes:
I-Share

Fund Admin:
Ultimus Fund Solutions, LLC

Distributor:
Ultimus Fund Distributors, LLC

 

The Absolute Strategies Fund seeks to achieve long-term capital appreciation with an emphasis on absolute returns and low sensitivity to traditional financial market indices. The Fund is made up of external managers and an internal overlay strategy.

The Fund's managers vary their exposures over time in order to manage risk and pursue unique long and short opportunities. Absolute’s overlay is used to adjust the overall sensitivity of the portfolio, allowing the Fund to take advantage of the managers' security selection skills across a wide range of strategy types without taking on all of the market sensitivity.

About the Underlying Strategies

KOVITZ INVESTMENT GROUP PARTNERS is an investment and wealth management firm located in Chicago, IL. Kovitz was founded in October 2003 after operating as an independent group within Rothschild Investment Corporation starting in 1997. The firm manages assets with a value approach across a number of equity, fixed-income, and private strategies. The hedged equity strategy utilized by CAPOX is managed by a long-standing team of Mitch Kovitz, Jon Shapiro, and Joel Hirsh.

Strategy run for the Fund: Hedged Equity

ABSOLUTE INVESTMENT ADVISERS LLC is an Independent, employee-owned firm founded in 2004 by partners from various parts of the mutual fund, hedge fund and financial services industries. Headquartered in Rosemary Beach, Florida, Absolute manages a disciplined Convertible Arbitrage strategy with an investment objective focused on capital preservation. The firm’s experienced investment team (formerly Mohican Financial Management) utilizes intensive fundamental research for sourcing ideas and constructing portfolios of small/mid capitalization convertible securities. Their versatile understanding of total return, credit, and volatility provides the foundation for successful portfolio diversification and risk management.

Strategy run for the Fund: Convertible Arbitrage

Along with the convertible arbitrage strategy, Absolute Advisers is the adviser to the Fund and responsible for manager research, selection and ongoing allocations, Absolute also runs a portfolio overlay to manage/hedge exposures.

Fund Literature

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Intro Presentation

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ASFIX Summary Prospectus

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Absolute Funds Prospectus

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Absolute Funds Statement of Additional Information (SAI)

Shareholder Reports

Semi-Annual Report – Period Ending 9/30/23
Annual Report – Period Ending 3/31/23
Semi-Annual Report – Period Ending 9/30/22
Annual Report – Period Ending 3/31/22
Semi-Annual Report – Period Ending 9/30/21
Annual Report
– Period Ending 3/31/21
Semi-Annual Report – Period Ending 9/30/20
Absolute Funds Information Statement – 9/17/20
Annual Report – Period Ending 3/31/20
Semi-Annual Report – Period Ending 9/30/19
Annual Report – Period Ending 3/31/19
Semi-Annual Report – Period Ending 9/30/18
Annual Report – Period Ending 3/31/18
Semi-Annual Report – Period Ending 9/30/17
Annual Report – Period Ending 3/31/17
Semi-Annual Report – Period Ending 9/30/16
Annual Report – Period Ending 3/31/16

 

Fund Distribution Information

The Fund distributes income semi-annually in June and December and distributes long and short-term capital gains in December. This page will be updated with distribution amounts when the data becomes available.

2023 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class ASFIX Income $0.00 Long-Term Capital Gains ---$0.00---
Short-Term Capital Gains $0.00
Class Ex Date Income 12/29/23 Long-Term Capital Gains 12/12/23 Short-Term Capital Gains 12/12/23
Class Record Date Income 12/28/23 Long-Term Capital Gains 12/11/23 Short-Term Capital Gains 12/11/23

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June – Income Distributions per share
Class Income
Class ASFIX Income $0.04653
Class Ex Date Income 6/30/23
Class Record Date Income 6/29/23
2022 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class ASFIX Income $0.00 Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/30/22 Long-Term Capital Gains 12/13/22 Short-Term Capital Gains 12/13/22
Class Record Date Income 12/29/22 Long-Term Capital Gains 12/12/22 Short-Term Capital Gains 12/12/22

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June – Income Distributions per share. 
Class Income
Class ASFIX Income $0.00
Class Ex Date Income 6/30/22
Class Record Date Income 6/29/22
2021 Distributions
December – Income & Capital Gains Distributions per share.  
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class ASFIX Income $0.00 Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/21 Long-Term Capital Gains 12/14/21 Short-Term Capital Gains 12/14/21
Class Record Date Income 12/30/21 Long-Term Capital Gains 12/13/21 Short-Term Capital Gains 12/13/21

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June – Income Distributions per share. 
Class Income
Class ASFIX Income $0.19110
Class Ex Date Income 6/30/21
Class Record Date Income 6/29/21
2020 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income  $0.00 Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/20 Long-Term Capital Gains 12/10/20 Short-Term Capital Gains 12/10/20
Class Record Date Income 12/30/20 Long-Term Capital Gains 12/11/20 Short-Term Capital Gains 12/11/20

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00
Class Ex Date Income 6/30/20
Class Record Date Income 6/29/20
2019 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/19 Long-Term Capital Gains 12/13/19 Short-Term Capital Gains 12/13/19
Class Record Date Income 12/30/19 Long-Term Capital Gains 12/12/19 Short-Term Capital Gains 12/12/19

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00675
Class Ex Date Income 6/28/19
Class Record Date Income 6/27/19
2018 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/18 Long-Term Capital Gains 12/14/18 Short-Term Capital Gains 12/14/18
Class Record Date Income 12/28/18 Long-Term Capital Gains 12/13/18 Short-Term Capital Gains 12/13/18

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/29/18
Class Record Date Income 6/28/18
2017 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/29/17 Long-Term Capital Gains 12/15/17 Short-Term Capital Gains 12/15/17
Class Record Date Income 12/28/17 Long-Term Capital Gains 12/14/17 Short-Term Capital Gains 12/14/17

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June – Income Distributions per share
Class Income
Class ASFIX Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/30/17
Class Record Date Income 6/29/17
2016 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.79569
Short-Term Capital Gains $0.51099
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.79569
Short-Term Capital Gains $0.51099
Class Ex Date Income 12/30/16 Long-Term Capital Gains 12/15/16 Short-Term Capital Gains 12/15/16
Class Record Date Income 12/29/16 Long-Term Capital Gains 12/14/16 Short-Term Capital Gains 12/14/16

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June – Income Distributions per share
Class Income
Class ASFIX Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/30/16
Class Record Date Income 6/29/16
2015 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.67929
Short-Term Capital Gains $0.16332
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.67929
Short-Term Capital Gains $0.16332
Class Ex Date Income 12/31/15 Long-Term Capital Gains 12/15/15 Short-Term Capital Gains 12/15/15
Class Record Date Income 12/30/15 Long-Term Capital Gains 12/14/15 Short-Term Capital Gains 12/14/15

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/30/15
Class Record Date Income 6/29/15
2014 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/14 Long-Term Capital Gains 12/12/14 Short-Term Capital Gains 12/12/14
Class Record Date Income 12/30/14 Long-Term Capital Gains 12/11/14 Short-Term Capital Gains 12/11/14

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/30/14
Class Record Date Income 6/27/14
2013 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/13 Long-Term Capital Gains 12/12/13 Short-Term Capital Gains 12/12/13
Class Record Date Income 12/31/13 Long-Term Capital Gains 12/11/13 Short-Term Capital Gains 12/11/13

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/29/13
Class Record Date Income 6/27/13
2012 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/12 Long-Term Capital Gains 12/13/12 Short-Term Capital Gains 12/13/12
Class Record Date Income 12/31/12 Long-Term Capital Gains 12/12/12 Short-Term Capital Gains 12/12/12

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.00
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/29/12
Class Record Date Income 6/28/12
2011 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00316
Long-Term Capital Gains $0.05035
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $0.05035
Short-Term Capital Gains $0.00
Class Ex Date Income 12/30/11 Long-Term Capital Gains 12/13/11 Short-Term Capital Gains 12/13/11
Class Record Date Income 12/29/11 Long-Term Capital Gains 12/12/11 Short-Term Capital Gains 12/12/11

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.01857
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/30/11
Class Record Date Income 6/29/11
2010 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.02984
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.00907
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class Ex Date Income 12/31/10 Long-Term Capital Gains 12/9/10 Short-Term Capital Gains 12/9/10
Class Record Date Income 12/30/10 Long-Term Capital Gains 12/8/10 Short-Term Capital Gains 12/8/10

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.01469
Class R-Share (ASFAX) Income $0.00
Class Ex Date Income 6/30/10
Class Record Date Income 6/29/10
2009 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.00
Long-Term Capital Gains $1.56
Short-Term Capital Gains 0.00359
Class R-Share (ASFAX) Income $0.00
Long-Term Capital Gains $1.56
Short-Term Capital Gains 0.00359
Class Ex Date Income 12/31/09 Long-Term Capital Gains 12/10/09 Short-Term Capital Gains 12/10/09
Class Record Date Income 12/30/09 Long-Term Capital Gains 12/9/09 Short-Term Capital Gains 12/9/09

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.06200
Class R-Share (ASFAX) Income $0.04629
Class Ex Date Income 6/30/09
Class Record Date Income 6/29/09
2008 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.04928 Long-Term Capital Gains $0.10194 Short-Term Capital Gains $0.25210
Class R-Share (ASFAX) Income $0.02990 Long-Term Capital Gains $0.10194 Short-Term Capital Gains $0.25210

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.02702
Class R-Share (ASFAX) Income $0.00644
2007 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.07299
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.02742
Long-Term Capital Gains $0.00
Short-Term Capital Gains $0.00

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.07320
Class R-Share (ASFAX) Income $0.05515
2006 Distributions
December – Income & Capital Gains Distributions per share.
Class Income Long-Term Capital Gains Short-Term Capital Gains
Class I-Share (ASFIX) Income $0.12441
Long-Term Capital Gains $0.00016
Short-Term Capital Gains $0.00
Class R-Share (ASFAX) Income $0.10418
Long-Term Capital Gains $0.0002
Short-Term Capital Gains $0.00

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June – Income Distributions per share
Class Income
Class I-Share (ASFIX) Income $0.09216
Class R-Share (ASFAX) Income $0.06774

Investing in the Fund

Purchasing Through a Financial Adviser:
The Absolute Strategies Fund may serve as an important piece of a diversified portfolio. We encourage investors to consult their financial advisers for guidance on asset allocation and the role of the Fund. Financial Advisers should contact us directly for information on the Fund and how it may be purchased.
Go to Contact Information Page

Direct Investment in the Fund:
Investors may purchase the Fund directly from the Fund using the applications below. Please complete the applications and follow the purchasing instructions. For additional information, please call the Fund’s shareholder servicing department at 1-888-99-ABSOLUTE

Important Fund Risks & Disclosure

Since the Fund utilizes a multi-manager strategy with multiple sub-advisers, it may be exposed to varying forms of risk. The Fund’s net asset value and investment return will fluctuate based upon changes in the value of its portfolio securities. There is no assurance that the Fund will achieve its investment objective, and an investment in the Fund is not by itself a complete or balanced investment program. For a complete description of the Fund’s principal investment risks please refer to the prospectus.

The Fund may invest in small- and medium-sized companies, which involves greater risk than investing in larger, more established companies such as increased volatility of earnings and prospects, higher failure rates, and limited markets, product lines or financial resources. The Fund may invest in foreign or emerging markets securities, which involves special risks, including the volatility of currency exchange rates and, in some cases, limited geographic focus, political and economic instability, and relatively illiquid markets.

The Fund may invest in debt securities which are subject to interest rate risk. An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. The Fund may also invest in high yield, lower rated (junk) bonds which involve a greater degree of risk and price fluctuation than investment grade bonds in return for higher yield potential. The Fund’s distressed debt strategy may involve a substantial degree of risk, including investments in sub-prime mortgage securities.

The Fund may purchase securities of companies in initial public offerings. Special risks associated with these securities may include a limited number of shares available for trading, unseasoned trading, lack of investor knowledge of the company and limited operating history. The Fund may leverage transactions, which includes selling securities short as well as borrowing for other than temporary or emergency purposes. Leverage creates the risk of magnified capital losses. The Fund may also invest in derivatives which can be volatile and involve various types and degrees of risks, depending upon the characteristics of a particular derivative. The Fund may invest in options and futures which are subject to special risks and may not fully protect the Fund against declines in the value of its stocks. In addition, an option writing strategy limits the upside profit potential normally associated with stocks. Futures trading is very speculative, largely due to the traditional volatility of futures prices.