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361 Domestic Long/Short Equity Fund
Fund Details
| Objective: Seeks to achieve long-term capital appreciation. The Fund also seeks to preserve capital in down markets. |
| Inception: 03/31/16 |
| Sub-Advisor: Analytic Investors Team† |
| Benchmark: Russell 1000 Index |
| Morningstar Category: Long/Short Equity |
Past returns shown do not guarantee future results. Current performance may be lower or higher. Call 888-736-1227 for the latest month-end returns. Return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than original cost. Other share class performance may vary.
Fund Strategy
The 361 Domestic Long/Short Equity Fund, sub-advised by Analytic Investors, seeks to deliver an equity-like return with significantly less variability by investing across domestic equity markets, taking advantage of the low volatility anomaly by going long lower volatility stocks and shorting higher volatility stocks, and dynamically allocating to high predicted alpha stocks.
Why Invest in the Fund
Enhance Core Allocations
Seeks to bolster traditional elements of a core allocation (stocks and bonds) enhancing the portfolio’s overall risk/return profile.
Growth While Managing Downside Risk
Quantitative approach that pursues equity-like returns with significantly less volatility than the benchmark.
Alpha Seeking
Structural elements combined with dynamic factor models seeks meaningful alpha from both long and short exposures.
Growth of Hypothetical $10,000 Investment
Past performance does not guarantee future results.
This chart illustrates the performance of a hypothetical $10,000 investment made in the Fund five years ago. Assumes reinvestment of dividends and capital gains, but does not reflect the effect of any applicable sales charge or redemption fees. This chart does not imply any future performance.
Podcast Recommendation
Balancing in a Crisis
Featuring Harin de Silva, CFA, Ph.D., Portfolio Manager to the 361 Domestic Long/Short Equity Fund.
Advisor Material
Returns include reinvestment of dividends and income.
† Analytic Investors, LLC is a part of Wells Capital Management, a registered investment advisor and a wholly owned subsidiary of Wells Fargo Asset Management Holdings, LLC.
Investing involves risk, including possible loss of principal. The potential loss from a short sale is theoretically unlimited since the appreciation of the underlying asset also is theoretically unlimited. Frequent trading by the Fund may reduce returns and increase the number of taxable transactions. Concentration of its portfolio in relatively few issuers may make the Fund more volatile than a diversified fund.
You should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. For a prospectus, or summary prospectus, that contains this and other information about the Funds, call 1-888-736-1227. Please read the prospectus or summary prospectus carefully before investing.
The 361 Funds are distributed by IMST Distributors, LLC.
Total Returns
Calendar Year Returns
Past returns shown do not guarantee future results. Current performance may be lower or higher. Call 888-736-1227 for the latest month-end returns. Return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than original cost.**2016 return is since the Fund's inception of 03/31/16.
Expense Ratio
The Gross Expense Ratio includes dividend and interest expense on short sales of 0.90%. The Net Expense Ratio reflects the fee waiver by the Adviser of 0.58%. See below for more information.†† The Adviser has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total fund annual operating expenses with certain limitations do not exceed 1.39% until 02/28/22. The expense limitation is exclusive of dividend and interest expenses on short sales, Rule 12b-1 fees, shareholder servicing fees and extraordinary expenses. See Prospectus for additional details.
Sector Exposure
Commentary
Fund performance is best viewed through three lenses; market environment (i.e., what was our exposure to the market and how did it perform), beta spread (i.e., did high beta stocks lag lower beta stocks) and alpha (i.e., did the stocks we assign higheralphas to outperform those with lower predicted alphas).
Strategy Overview
