Top 20 Alt Funds
BLNDX/REMIX

Many investors who are interested in alternatives default to the biggest and most well known names. Here is how Standpoint compares to the 20 largest alternative mutual funds.

BLNDX vs. Top 20 Alternative mutual funds (by AUM)

December 31, 2019 - September 30, 2025

Fund NameTickerTotal ReturnAnnualized ReturnSharpe RatioMax DeclineNet ExpenseGross Expense
Standpoint Multi-Asset InstitutionalBLNDX73.78%10.08%0.74-11.61%1.26%1.39%
AQR Diversified Arbitrage IADAIX47.24%6.96%0.57-8.15%1.87%1.87%
AQR Equity Market Neutral IQMNIX111.00%13.87%0.94-19.52%5.48%5.49%
AQR Managed Futures Strategy IAQMIX63.62%8.94%0.56-10.49%2.72%2.73%
AQR Style Premia Alternative IQSPIX95.54%12.37%0.62-23.68%5.89%5.89%
Abbey Capital Futures Strategy IABYIX26.18%4.13%0.19-13.12%1.79%1.85%
American Beacon AHL Mgd Futs Strat YAHLYX28.24%4.42%0.20-19.58%1.63%1.63%
BlackRock Event Driven Equity InstlBILPX24.53%3.89%0.25-5.25%1.29%1.37%
BlackRock Global Equity Mkt Netrl InstlBDMIX68.71%9.52%1.19-5.89%1.34%1.42%
BlackRock Systematic Multi-Strat InstlBIMBX25.21%3.99%0.26-5.78%0.93%0.93%
BlackRock Tactical Opportunities InstlPBAIX41.29%6.20%0.66-4.55%0.77%0.77%
Blackstone Alternative Multi-Strategy IBXMIX22.92%3.65%0.14-15.19%3.77%3.85%
Calamos Market Neutral Income ICMNIX31.08%4.82%0.54-7.16%0.97%0.97%
Campbell Systematic Macro IEBSIX64.90%9.09%0.67-8.40%1.75%1.84%
FS Multi-Strategy Alternatives IFSMSX28.34%4.43%0.43-5.56%1.72%1.72%
Federated Hermes MDT Market Neutral ISQQMNX69.22%9.58%0.73-17.78%1.86%1.87%
First Trust Merger Arbitrage Cl IVARBX28.06%4.40%0.61-2.37%1.84%1.84%
Goldman Sachs Absolute Ret Trckr InstlGJRTX32.27%4.98%0.33-9.80%0.74%0.83%
LoCorr Macro Strategies ILFMIX23.40%3.72%0.15-11.02%1.88%1.88%
The Merger Fund IMERIX22.93%3.66%0.28-3.85%1.27%1.37%
Victory Market Neutral Income ICBHIX23.08%3.68%0.22-6.45%0.41%0.58%
Source: Morningstar Direct
Performance data shown represents past performance and is not a guarantee of future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month end performance please call (866) 738-1128.

Comparisons made to Morningstar Liquid Category Group as of 8/30/2025 with an inception date longer than 1/1/2020, filtered by assets under management.

Standardized Performance

Data as of 9/30/2025

Fund NameTickerInception DateAnnualized 1 Year Total ReturnsAnnualized 5 Year Total ReturnsAnnualized 10 Year Total ReturnsAnnualized Returns Since Inception
Standpoint Multi-Asset InstitutionalBLNDX12/30/2019-2.50%10.73%10.08%
AQR Diversified Arbitrage IADAIX09/30/20085.41%5.90%6.12%4.35%
AQR Equity Market Neutral IQMNIX06/16/201428.38%19.85%6.59%7.91%
AQR Managed Futures Strategy IAQMIX05/10/200014.19%10.83%2.89%3.49%
AQR Style Premia Alternative IQSPIX03/24/201118.39%19.32%6.08%6.88%
Abbey Capital Futures Strategy IABYIX06/01/1993-1.67%4.21%2.12%3.85%
American Beacon AHL Mgd Futs Strat YAHLYX05/16/2017-4.03%4.47%2.73%3.99%
BlackRock Event Driven Equity InstlBILPX01/06/20106.07%3.98%4.92%5.18%
BlackRock Global Equity Mkt Netrl InstlBDMIX01/15/200918.25%10.85%5.97%6.13%
BlackRock Systematic Multi-Strat InstlBIMBX08/19/20140.79%3.71%4.94%4.33%
BlackRock Tactical Opportunities InstlPBAIX12/19/200712.68%6.62%5.11%6.71%
Blackstone Alternative Multi-Strategy IBXMIX10/30/20138.91%5.53%3.46%3.44%
Calamos Market Neutral Income ICMNIX07/01/20146.93%4.87%4.79%4.60%
Campbell Systematic Macro IEBSIX03/04/20133.47%11.01%4.69%5.16%
FS Multi-Strategy Alternatives IFSMSX05/30/20083.94%5.59%3.70%
Federated Hermes MDT Market Neutral ISQQMNX12/31/20137.69%12.86%7.15%6.69%
First Trust Merger Arbitrage Cl IVARBX11/19/20125.74%5.13%3.98%
Goldman Sachs Absolute Ret Trckr InstlGJRTX10/07/20146.80%6.35%4.99%2.91%
LoCorr Macro Strategies ILFMIX08/01/20131.98%3.73%3.92%2.60%
The Merger Fund IMERIX05/19/20158.03%3.84%4.23%3.62%
Victory Market Neutral Income ICBHIX12/20/20125.87%3.78%3.73%2.87%
Source: Morningstar Direct
Performance data shown represents past performance and is not a guarantee of future results. Investment return and principal value will fluctuate with changing market conditions so that when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain the most recent month end performance please call (866) 738-1128.
Share Classes
BLNDXREMIX
Share ClassInstitutionalInvestor
Minimum Investment$25,000$2,500
Net Expense Ratio1.26%1.51%
Gross Expense Ratio1.39%1.64%
  • Fund Inception: December 30, 2019
  • Dividend Frequency: Annually
  • Morningstar Category: Multistrategy

The Fund’s adviser contractually has agreed to waive its management fee and/or reimburse expenses so that total annual Fund operating expenses, excluding portfolio transaction and other investment-related costs (including brokerage fees and commissions); taxes; borrowing costs (such as interest and dividend expenses on securities sold short); acquired fund fees and expenses; fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap fees and expenses); any amounts payable pursuant to a distribution or service plan adopted in accordance with Rule 12b-1 under the Investment Company Act of 1940; any administrative and/or shareholder servicing fees payable pursuant to a plan adopted by the Board of Trustees; expenses incurred in connection with any merger or reorganization; extraordinary expenses (such as litigation expenses, indemnification of Trust officers and Trustees and contractual indemnification of Fund service providers); and other expenses that the Trustees agree have not been incurred in the ordinary course of the Fund’s business, do not exceed 1.24% through February 28, 2027.

Important Risk Information

Investors should carefully consider the investment objectives, risk, charges, and expenses of the Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling (866) 738-1128 or at standpointfunds.com. Comparison funds’ prospectuses may be obtained by visiting the funds’ website. The prospectus should be read carefully before investing. The Standpoint Multi-Asset Fund is distributed by Ultimus Fund Distributors, LLC. Ultimus Fund Distributors, LLC is not affiliated with the other funds listed above.

Investing involves risk, including loss of principal. There is no guarantee that the fund will achieve its investment objective. Diversification does not guarantee a profit or protect against a loss.

Comparison funds are not advised by, or affiliated with, Standpoint. The funds are being shown for illustrative purposes only and should not be considered a recommendation.

Investing in underlying investment companies, including money market funds and ETFs, exposes the Fund to the investment performance (positive or negative) and risks of the investment companies. ETFs are subject to additional risks, including the risk that an ETFs shares may trade at a market price that is above or below its NAV. The Fund will indirectly bear a portion of the fees and expenses of the underlying fund in which it invests, which are in addition to the Fund’s own direct fees and expenses.

Investment in the Fund carries certain risks. The fund will invest a percentage of its assets in derivatives, such as futures and commodities. The use of such derivatives and the resulting high portfolio turnover may expose the Fund to additional risks that it would not be subject to if it invested directly in the securities and commodities underlying those derivatives. The Fund may experience losses that exceed those experienced by funds that do not use futures contracts. The successful use of futures contracts draws upon the Adviser’s skill and experience with respect to such instruments and are subject to special risk considerations. The primary risks associated with the use of futures contracts are (a) the imperfect correlation between the change in market value of the instruments held by the Fund and the price of the forward or futures contract; (b) possible lack of a liquid secondary market for a forward or futures contract and the resulting inability to close a forward or futures contract when desired;(c) losses caused by unanticipated market movements, which are potentially unlimited; (d) the Adviser’s inability to predict correctly the direction of securities prices, interest rates, currency exchange rates and other economic factors; (e) the possibility that the counterparty will default in the performance of its obligations; and (f) if the Fund has insufficient cash, it may have to sell securities from its portfolio to meet daily variation margin requirements, and the Fund may have to sell securities at a time when it may be disadvantageous to do so.

Foreign investing involves risks not typically associated with US investments, including adverse fluctuations in foreign currency values, adverse political, social, and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.

© 2025 Morningstar, Inc. All Rights Reserved. The information contained: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Definitions

Sharpe Ratio is the ratio which measures risk-adjusted performance. Max Decline is the peak-to-trough decline during a specific period.

The comparison funds referenced were chosen based on a series of parameters which include a ranking of the largest 20 open-ended liquid alternative mutual funds as categorized by Morningstar with an inception date prior to 1/1/2020, by assets under management (AUM). The funds used in this comparison are well known liquid alternative funds and therefore may be more widely used among financial advisors.

Like the Standpoint Fund, the comparison funds are all open-ended mutual funds with daily liquidity. These investments are all subject to fluctuation of principal or return, and past performance is not a guarantee of future performance. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Regarding the Liquid Alternatives Category Group: These are publicly available investments that employ alternative strategies aimed at capital preservation, long-term portfolio diversification, or enhanced risk-adjusted returns. Alternative strategies are described as those that attempt to expand, diversify, or eliminate the dominant risk factors contained in traditional market indexes (such as equity, credit, and rate indexes). They may be applied across single or multiple asset classes using various investment techniques, have the ability to short securities, and aim to provide differentiated and/or diversifying exposures with little correlation to traditional market indexes. This distinguishes them from strategies that primarily modify traditional market risks.

Standpoint Multi-Asset Institutional: Gross expense ratio: 1.39%, net expense ratio: 1.26%, expense limitation contractual through 2/28/2027.

Abbey Capital Futures Strategy I: Gross expense ratio: 1.85%, net expense ratio: 1.79%, expense limitation contractual through 12/31/2025.

American Beacon AHL Mgd Futs Strat Y: Gross expense ratio: 1.63%, net expense ratio: 1.63%, no expense limitation agreement.

AQR Diversified Arbitrage I: Gross expense ratio: 1.87%, net expense ratio: 1.87%, expense limitation contractual through 4/30/2026.

AQR Equity Market Neutral I: Gross expense ratio: 5.49%, net expense ratio: 5.48%, expense limitation contractual through 4/30/2026.

AQR Managed Futures Strategy I: Gross expense ratio: 2.73%, net expense ratio: 2.72%, expense limitation contractual through 4/30/2026.

AQR Style Premia Alternative I: Gross expense ratio: 5.89%, net expense ratio: 5.89%, expense limitation contractual through 4/30/2026.

BlackRock Event Driven Equity Instl: Gross expense ratio: 1.37%, net expense ratio: 1.29%, expense limitation contractual through 6/30/2026.

BlackRock Global Equity Mkt Netrl Instl: Gross expense ratio: 1.42%, net expense ratio: 1.34%, expense limitation contractual through 6/30/2026.

BlackRock Systematic Multi-Strat Instl: Gross expense ratio: 0.93%, net expense ratio: 0.93%, expense limitation contractual through 6/30/2027.

BlackRock Tactical Opportunities Instl: Gross expense ratio: 0.77%, net expense ratio: 0.77%, expense limitation contractual through 6/30/2027.

Blackstone Alternative Multi-Strategy I: Gross expense ratio: 3.85%, net expense ratio: 3.77%, expense limitation contractual through 8/31/2027.

Calamos Market Neutral Income I: Gross expense ratio: 0.97%, net expense ratio: 0.97%, no expense limitation agreement.

Campbell Systematic Macro I: Gross expense ratio: 1.84%, net expense ratio: 1.75%, expense limitation contractual through 12/31/2026.

Federated Hermes MDT Market Neutral IS: Gross expense ratio: 1.87%, net expense ratio: 1.86%, expense limitation contractual through 3/1/2026.

First Trust Merger Arbitrage Cl I: Gross expense ratio: 1.84%, net expense ratio: 1.84%, no expense limitation agreement.

FS Multi-Strategy Alternatives I: Gross expense ratio: 1.72%, net expense ratio: 1.72%, no expense limitation agreement.

Goldman Sachs Absolute Ret Trckr Instl: Gross expense ratio: 0.83%, net expense ratio: 0.74%, expense limitation contractual through 4/30/2026.

LoCorr Macro Strategies I: Gross expense ratio: 1.88%, net expense ratio: 1.88%, no expense limitation agreement.

The Merger Fund I: Gross expense ratio: 1.37%, net expense ratio: 1.27%, expense limitation contractual through 4/30/2026.

Victory Market Neutral Income I: Gross expense ratio: 0.58%, net expense ratio: 0.41%, expense limitation contractual through 10/31/2025.

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Abbey Capital Futures Strategy Fund Class I ABYIX: The investment seeks long-term capital appreciation; current income is a secondary objective. The adviser allocates the fund's assets between a Managed Futures strategy and a Fixed Income strategy. The Managed Futures strategy will be achieved by investing a portion of its assets in the Onshore Subsidiary and up to 25% of its total assets in the Cayman Subsidiary. The Fixed Income strategy invests its assets primarily in investment grade fixed income securities in order to generate interest income and capital appreciation, which may add diversification to the returns generated by its Managed Futures strategy. It is non-diversified.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/abyix

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American Beacon AHL Managed Futures Strategy Fund Y Class AHLYX: The investment seeks capital growth. The fund seeks to achieve its investment objective by implementing a quantitative trading strategy and systematic investment process designed to capitalize on price trends in a broad range of global markets by utilizing derivative instruments to seek exposure to stock indices, bonds, currencies, and interest rates. It invests primarily in derivatives, including futures contracts, and forward contracts, such as foreign currency forward contracts and non-deliverable forwards (“NDFs”). It is non-diversified.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/ahlyx

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AQR Diversified Arbitrage Fund Class I ADAIX: The investment seeks long-term absolute (positive) returns. The fund seeks to outperform, after expenses, the ICE BofA US 3-Month Treasury Bill Index while seeking to control its tracking risk relative to this benchmark. It invests in a diversified portfolio of instruments, including equities, convertible securities, debt securities, loans, rights, warrants, options, swaps, futures contracts, forwards or other types of derivative instruments.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/adaix

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AQR Equity Market Neutral Fund Class I QMNIX: The investment seeks positive absolute returns. The fund is designed to be market- or beta-neutral, which means that the fund seeks to achieve returns that are not closely correlated with the returns of the equity markets in which the fund invests. Under normal market conditions, it pursues its investment objective by investing at least 80% of its net assets (including borrowings for investment purposes) in equity instruments and equity related and/or derivative instruments.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/qmnix

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AQR Managed Futures Strategy Fund Class I AQMIX: The investment seeks positive absolute returns. The adviser allocates the fund's assets among four major asset classes (commodities, currencies, and equities and fixed income). It gains exposure to asset classes by investing in several hundred futures contracts, futures-related instruments, forwards, swaps and securities including, but not limited to, commodity futures, forwards and swaps; currencies, currency futures and forwards; equity index futures, equity swaps and volatility futures; bond futures and swaps; interest rate futures and swaps and credit default index swaps.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/aqmix

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AQR Style Premia Alternative Fund Class I QSPIX: The investment seeks positive absolute returns. The fund pursues its investment objective by aiming to provide exposure to four separate investment styles ("Styles"): value, momentum, carry and defensive, using both "long" and "short" positions within the following asset groups ("Asset Groups"): equities, bonds, interest rates, commodities and currencies. It will achieve its exposure to any of the Asset Groups by using derivatives or holding those assets directly.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/qspix

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BlackRock Event Driven Equity Fund Institutional Shares BILPX: The investment seeks long-term capital growth. Under normal circumstances, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and related derivative instruments with similar economic characteristics. The manager seeks to achieve its investment objective by employing an event driven strategy, primarily investing in companies that have announced a material change or in companies that BlackRock expects to undergo a material change.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/bilpx

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BlackRock Global Equity Market Neutral Fund Institutional Shares BDMIX: The investment seeks total return over the long term. Under normal circumstances, the fund invests at least 80% of its total assets in equity instruments and related derivative instruments issued by, or tied economically to, companies located in developed markets. It pursues this market-neutral strategy by taking both long and short positions in a variety of developed market equity instruments. The fund may invest in securities of issuers of any market capitalization and in securities denominated in either U.S. dollars or foreign currencies.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/bdmix

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BlackRock Systematic Multi-Strategy Fund Institutional Shares BIMBX: The investment seeks total return comprised of current income and capital appreciation. The fund seeks to achieve its investment objective by investing in a range of global asset classes, with a focus on fixed and floating rate debt securities and equity securities. It will normally invest in both U.S. and non-U.S. securities, including securities of companies located in emerging markets.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/bimbx

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BlackRock Tactical Opportunities Fund Institutional Shares PBAIX: The investment seeks long-term capital appreciation; current income is a secondary objective. The adviser allocates the fund's assets between a Managed Futures strategy and a Fixed Income strategy. The Managed Futures strategy will be achieved by investing a portion of its assets in the Onshore Subsidiary and up to 25% of its total assets in the Cayman Subsidiary. The Fixed Income strategy invests its assets primarily in investment grade fixed income securities in order to generate interest income and capital appreciation, which may add diversification to the returns generated by its Managed Futures strategy. It is non-diversified.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/pbaix

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Blackstone Alternative Multi-Strategy Fund Class I BXMIX: The investment seeks capital appreciation. The fund seeks to achieve its objective by allocating its assets among a variety of non-traditional or "alternative" investment strategies. The adviser allocates the fund's assets among sub-advisers with experience managing alternative investment strategies and among investment funds. The adviser also manages a portion of the fund's assets directly and, from time to time, may instruct sub-advisers with respect to particular investments.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/bxmix

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Calamos Market Neutral Income Fund Institutional Class CMNIX: The investment seeks high current income consistent with stability of principal. The fund i) invests in equities, (ii) convertible securities of U.S. companies without regard to market capitalization and (iii) employs short selling and enters into total return swaps to enhance income and hedge against market risk. The average term to maturity of the convertible securities purchased by the fund will typically range from two to ten years. It may seek to generate income from option premiums by writing (selling) options. The fund may invest without limit in high yield fixed-income securities (often referred to as "junk bonds").

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/cmnix

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Campbell Systematic Macro Fund Class I Shares EBSIX: The investment seeks capital appreciation over the medium to long-term. The fund pursues its investment objective by (i) investing its assets pursuant to the Campbell Systematic Macro Program (ii) allocating up to 25% of its total assets in its wholly-owned subsidiary, Campbell Systematic Macro Offshore Limited (the "Subsidiary"), which is organized under the acts of the Cayman Islands and employs the Adviser's Campbell Systematic Macro Program, and (iii) allocating the remainder of its assets directly in a portfolio of investment grade securities for cash management purposes. It is non-diversified.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/ebsix

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Federated Hermes MDT Market Neutral Fund Institutional Shares QQMNX: The investment seeks to provide long-term capital appreciation while limiting exposure to general stock market risk. The fund seeks to achieve its objective by selecting long positions in publicly traded common stocks which its quantitative model predicts will achieve above-market returns, and short positions in publicly traded common stocks which the fund’s quantitative model predicts will achieve below-market returns. The Adviser will attempt to realize investment gains on both the long and short sides of its investment strategies through stock selection.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/qqmnx

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First Trust Merger Arbitrage Fund Class I VARBX: The investment seeks returns that are largely uncorrelated with the returns of the general stock market, and capital appreciation. Under normal market conditions, the fund's adviser intends to invest in equity securities (publicly-traded common stock and preferred stock) and derivatives thereof of companies that are involved in a significant corporate event, such as a merger or acquisition. Investments in companies undergoing a merger or acquisition have both risk and return characteristics that are different from the risks of investing in the general stock market. It may invest in equity securities of any market capitalization.

Source: https://www.schwab.com/research/mutual-funds/quotes/summary/varbx

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FS Multi-Strategy Alternatives Fund Class I FSMSX: The investment seeks to provide shareholders with positive absolute returns over a complete market cycle. The fund seeks to achieve its investment objective by actively allocating its assets across a broad spectrum of alternative investment strategies. It will seek to provide exposure to alternative strategies with low correlation to traditional equity and fixed income markets, which can enhance portfolio diversification. The strategy will be implemented through a rigorous quantitative and qualitative process intended to select high quality Underlying Managers and Alternative Beta Strategies. The fund is non-diversified.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/fsmsx

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Goldman Sachs Absolute Return Tracker Fund Institutional Class GJRTX: The investment seeks to deliver long-term total return consistent with investment results that approximate the return and risk patterns of a diversified universe of hedge funds. The fund's Investment Adviser believes that hedge funds derive a large portion of their returns from exposure to sources of market risk and "Trading Strategies" involving long and/or short positions in Market Exposures and/or individual securities or baskets of securities. It uses a dynamic investment process to seek to identify the appropriate weights to Market Exposures and Trading Strategies that approximate the return and risk patterns of specific hedge fund sub-strategies.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/gjrtx

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LoCorr Macro Strategies Fund Class I LFMIX: The investment seeks capital appreciation in rising and falling equity markets with managing volatility as a secondary objective. The fund seeks to achieve its investment objectives by allocating its assets using two principal strategies: "Managed Futures" Strategy and "Fixed Income" Strategy. The Managed Futures strategy is designed to produce capital appreciation by capturing returns related to the commodity and financial markets. The Fixed Income strategy is designed to generate interest income and preserve principal by investing primarily in investment grade securities.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/lfmix

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The Merger Fund Class I MERIX: The investment seeks capital growth by engaging in merger arbitrage. Under normal market conditions, the fund invests at least 80% of its total assets principally in the common stock, preferred stock and, occasionally, warrants of companies which are involved in publicly announced mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations and other corporate reorganizations. Merger arbitrage is a highly specialized investment approach generally designed to profit from the successful completion of such transactions.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/merix

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Victory Market Neutral Income Fund Class I CBHIX: The investment seeks high current income. The Adviser pursues the fund’s investment objective by implementing a proprietary, “market neutral” investment strategy designed to seek income from its investments while maintaining a low correlation to the foreign and domestic equity and bond markets.

Source: https://www.schwab.com/research/mutual-funds/quotes/risk/cbhix

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