The 361 Global Long/Short Equity Fund is among 191 in the Long/Short Equity funds derived from a weighted average of the fund’s three-, five- and 10-year risk-adjusted returns as of 3/31/2018. For the 3 year period, the Fund was rated 5 stars out of 191. Past performance is no guarantee of future results. Ratings reflect fee waivers in effect; in their absence, ratings may have been lower.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Sustainability Rating as of 1/31/2018. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. Out of 99 Long/Short Equity funds as of 1/31/2018. Based on 96.19% of AUM.
The Morningstar Sustainability Rating™ is a measure of how well the holdings in a portfolio are managing their environmental, social, and governance, or ESG, risks and opportunities relative to their Morningstar Category peers. Morningstar ranks all scored funds within a category by their Portfolio Sustainability Scores and divides them into five groups along a bell curve distribution. A fund’s rating is depicted by one to five globes with one globe being the lowest score to five globes being the highest. Sustainability Ratings only reflect information on the ESG performance of a fund’s holdings and are not an evaluation of a fund’s performance or overall investment merit.
© 2018 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
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.
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