361 Global Equity Absolute Return Fund

I: AGRZX | Investor: AGRQX
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Fund Details

Objective: Seeks absolute (positive) returns. The Fund also seeks long-term capital appreciation.
Inception: 12/31/2018
Sub-Advisor: Analytic Investors
Benchmark: 3-Month LIBOR Index
Morningstar Category: Market Neutral

 

Performance

As of 08/31/19 – Class I Shares
1 Month-2.22%
YTD-3.10%
Since Inception-3.10%

Click here for quarter-end performance >

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 Global Equity Absolute Return Fund, sub-advised by Analytic Investors, employs a strategy of gaining long exposures in equity securities of issuers that it believes will outperform the equity market and gain short exposures in equity securities it believes will underperform the equity market (MSCI World Index).

Why Invest in the Fund

Portfolio Diversification

Adds diversification potential to traditional elements of a portfolio enhancing the overall risk/return profile in both upward and downward markets.

Mitigate Market Risk

Quantitative approach that pursues absolute returns while limiting downside risk.

Alpha Seeking

Structural elements combined
with dynamic factor models seek
meaningful alpha from both long
and short exposures.

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.See Glossary of Terms >

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. Foreign investment entails additional risk from adverse changes in currency exchange rates, tax regulation, and potential market instability. The Fund may invest in derivatives, including swaps. Derivatives may be more sensitive to changes in market conditions and may amplify risks.

The Fund is a newly organized series of an open-end management investment company and has no operating history.

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

As of 06/30/19*
 * Returns shown over one year are annualized. Returns include the reinvestment of dividends and income.

% 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.

Expense Ratio

 The Gross Expense Ratio includes dividend and interest expense of short sales of 0.37%. The Net Expense Ratio reflects the fee waiver by the Adviser of 0.28%. 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 1.20% until 02/29/20. 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.

Investment Process


The portfolio is constructed with a 100% long exposure to stocks that have lower predicted betas and positive predicted alphas. The portfolio has 70% short exposure consisting of stocks with higher predicted betas and lower predicted alphas. This results in a portfolio that has roughly 30% net exposure to its respective index, but with significantly less volatility than the benchmark.
361 Global Equity Absolute Return Fund Investment Process-graphic