361 Global Long/Short Equity Fund
Annual Expense Ratio: Gross 2.21%/Excluding dividend and interest expense on short sales: 1.60%. The net with limitation expense ratio is 1.50% for Class I. The gross expense ratio includes dividend and interest expense on short sales of 0.61% acquired fund fees and expenses.†
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 or click here. Please read the prospectus or summary prospectus carefully before investing.
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, lax regulation, and potential market instability. 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.
†Reflects contractual agreement to waive and/or pay for certain fees and expenses until 2/28/2019.
Sustainability Rating as of 7/31/2018. Sustainalytics provides company-level analysis used in the calculation of Morningstar’s Sustainability Score. Out of 92 Long/Short Equity funds as of 7/31/2018. Based on 96.61% 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.
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