February Monthly Snapshot

361 Domestic Long/Short Equity Fund

From an investing perspective, February witnessed a relatively normalized global equity environment. There was continued debate around the various policies and ideas within the U.S. political scene, but generally speaking, markets continued the trend upward. The 361 Domestic Long/Short Equity Fund generated 2.22% for the month, while the Russell 1000 Index generated 3.87%.  The month witnessed a period where high risk did not pay off as much as recently. The lowest beta stocks within the Russell 1000 Index were up 4.90%, while the highest beta stocks were up 2.64%. Tilts within the Factor Momentum Model, the part of the strategy that seeks to exploit trends within fundamental financial factors, also performed well. Stocks predicted to move higher or lower did indeed move as such, providing positive attribution. Sector tilts were also additive. Energy was a standout during the month, as a net short exposure provided positive performance when that sector traded down. Additionally, Information Technology was a top performer stemming from a large overweight to what was one of the best performing sectors within the universe.