The LS Opportunity Fund (LSOFX), sub-advised by Prospector Partners, is a traditional Long-Short Equity strategy that pursues a fundamental, bottom-up, value investment approach. The Fund's Portfolio Management team seeks to achieve capital growth during periods of rising or stable stock prices and capital preservation during periods of declining stock prices.
as of 04/30/2020
Trailing annualized returns (%) as of the most recent month-end. Click on the link to the Fund Fact Sheet below to view standardized performance as of most recent quarter-end. Inception date for the LS Opportunity Fund is 09/29/2010. Morningstar Category is US Fund Long-Short Equity.
The performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. The Fund’s Gross Expense Ratio is 3.13%. The Net Expense Ratio is 2.91%. The Expense Cap is 1.95%. The Adviser has contractually agreed to waive or limit its fees and to assume other expenses of the Fund until September 30, 2020 so that the ratio of total annual operating expenses (not including interest, taxes, brokerage commissions, other expenditures which are capitalized in accordance with generally accepted accounting principles, other extraordinary expenses not incurred in the ordinary course of business, dividend expenses on short sales, expenses incurred under a Rule 12b-1 plan, acquired fund fees and expenses and expenses that the Fund incurred but did not actually pay because of an expense offset arrangement) does not exceed 1.95%. Performance data current to the most recent month end may be obtained by calling 1.877.336.6763.
*The Morningstar Rating for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance The top 10% of products in each product category receive 5 stars, the next 22 5% receive 4 stars, the next 35% receive 3 stars, the next 22 5% receive 2 stars, and the bottom 10% receive 1 star The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
As of 03/31/20, LSOFX 3 year rating is 4 stars out of 192 funds, and the 5 year rating is 4 stars out of 148 funds.