Fund Overview

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.

Fund Materials

Fund Fact Sheet

Investor Presentation

Performance Analytics

Market Update Webinar

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Morningstar® Star Rating
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Firm Founded
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Firm AUM ($mm)
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Length of Track Record (Years)

The LS Opportunity Fund received a 4-Star Overall Morningstar® Rating as of September 30, 2020. The Fund was rated against the following numbers of Morningstar® rated funds in the US Long-Short Equity category over the following time periods:182 in the last 3 years, 139 in the last 5 years and 42 in the last 10 years. The LS Opportunity Fund received a 4-Star rating overall, a 3-Star rating for 3 years, a 4-Star rating for 5 years. and 4-Star rating for 10 years.

About the Sub-Advisor

Prospector Partners, LLC, became the Sub-Advisor to LSOFX in May 2005 and has been operating a traditional hedge fund with a similar investment objective since 1997.

Portfolio Managers

The Prospector Partners' team has been together for over 20 years has invested through several cycles, including the 2000s tech bubble and the 2008 financial crisis.

John D. Gillespie

M.B.A. – Stanford University
B.A. – Bates College

Kevin R. O’Brien

Chartered Financial Analyst
B.A. – Central Connecticut State

Jason A. Kish

Chartered Financial Analyst
Certified Public Accountant
B.S. B.A. – Providence College

Steve Labbe

B.S. – Central Connecticut State

as of 09/30/2020

Fund Performance

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.

Fund Fact Sheet

Performance Analytics

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.

Fund Documents

Fund Prospectus

Statement of Additional Information

Annual Report

Semi-Annual Report

Supplements to Prospectus/SAI

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You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Fund before investing. The Fund's prospectus contains this and other information about the Fund, and should be read carefully before investing.  You may obtain a current copy of the Fund's prospectus by calling (877) 336-6763. 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.

Investment in shares of a long/short equity fund have the potential for significant risk and volatility.  A short equity strategy can diminish returns in a rising market as well as having the potential for unlimited losses. These types of funds typically have a high portfolio turnover that could increase transaction costs and cause short-term capital gains to be realized.

Diversification does not ensure a profit or guarantee against loss.

The Fund is distributed by Ultimus Fund Distributors, LLC. (Member FINRA)

Long Short Advisors is registered as an investment adviser with the Securities and Exchange Commission. There is no affiliation between Ultimus Fund Distributors, LLC, Long Short Advisors, and the other firms referenced on this website.

Information contained on this website does not constitute an offer to sell, or a solicitation of an offer to buy shares of the Fund, nor shall any shares be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.

This site also is not intended to provide specific individual advice including, without limitation, investment, financial, legal, accounting, or tax advice.

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