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
The LS Opportunity Fund received a 4-Star Overall Morningstar® Rating as of March 31, 2023. This is out of 173 funds in the US Long Short Equity category, based on risk-adjusted returns as of 03/31/2023. Across the US Long Short Equity category, the LS Opportunity Fund received 3 stars among 173 funds, 4 stars among 154 funds, and 4 stars among 69 funds for the 3-, 5-, and 10-year periods, respectively.
About the Sub-Advisor
Prospector Partners, LLC, became the Sub-Advisor to LSOFX in May 2015 and has been operating a traditional hedge fund with a similar investment objective since 1997.
Portfolio Managers
The Prospector Partners' team has been together on average for 18 years and has invested through several cycles, including the 2000s tech bubble and the 2008 financial crisis.
Kevin R. O’Brien
Chartered Financial Analyst
B.S. – Central Connecticut State
Jason A. Kish
Chartered Financial Analyst
Certified Public Accountant
B.S. B.A. – Providence College
Steve Labbe
Chartered Financial Analyst
B.S. – Central Connecticut State
as of 03/31/2023
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.
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 2.92%. The Net Expense Ratio is 2.89%. 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, 2023 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.
Peer Group: Morningstar Long-Short Equity Category