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OARAX

Global Multi Strategies Fund

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Overview

Alternative multi-strategy that employs quantitative analysis to invest both long and short across a broad range of asset classes.

Inception Date
March 5, 2007
Investment Style
Multi Alternative
Fund Index
BofA/ML 3-month US T-Bill
CUSIP
68379V101
NAV
  • A
(as of 11/21/2017)
$23.53
Total Assets
(as of 10/31/2017)
$108.00 MM
Gross Expense Ratio
(as of 10/31/2017)
1.96%
Net Expense Ratio
(as of 10/31/2017)
1.37%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 10/31/2017
  • B
as of 09/30/2017
  • B

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • B
Cumulative
Annualized
ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Multi Strategies Fund (NAV)
1.83% 0.28% 0.55% 1.91% 1.26% 1.30%
Cumulative
Annualized
ytd as of 2017-09-30
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Multi Strategies Fund (with sales charge)
-4.02% -5.49% -1.41% 0.71% 0.66% 0.74%
Cumulative
Annualized
ytd as of 2017-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Multi Strategies Fund (NAV)
2.83% 2.89% 0.33% 2.04% 1.19% 1.39%
Cumulative
Annualized
ytd as of 2017-10-31
  • C
1 yr 3 yr 5 yr 10 yr since inception
Global Multi Strategies Fund (with sales charge)
-3.08% -3.03% -1.63% 0.83% 0.59% 0.82%
Gross Expense Ratio: 1.96% | Net Expense Ratio: 1.37%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Year Global Multi Strategies Fund BofA/ML 3-month US T-Bill
2008 -1.45% 2.06%
2009 1.21% 0.21%
2010 6.89% 0.13%
2011 -8.18% 0.10%
2012 5.80% 0.11%
2013 2.93% 0.07%
2014 6.04% 0.03%
2015 -4.32% 0.05%
2016 1.72% 0.33%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.


Date Global Multi Strategies Fund BofA/ML 3-month US T-Bill Index BBG Barclays Agg S&P 500
10/31/2007 0.00 0.00 0.00 0.00
11/30/2007 -0.55 0.47 1.80 -4.18
12/31/2007 -0.56 0.75 2.08 -4.85
1/31/2008 0.58 1.26 3.80 -10.55
2/29/2008 0.97 1.41 3.94 -13.46
3/31/2008 0.52 1.64 4.30 -13.83
4/30/2008 0.91 1.75 4.08 -9.64
5/31/2008 1.50 1.78 3.32 -8.47
6/30/2008 1.59 1.96 3.23 -16.18
7/31/2008 -0.07 2.14 3.15 -16.89
8/31/2008 0.38 2.30 4.13 -15.68
9/30/2008 -1.91 2.60 2.73 -23.20
10/31/2008 -4.39 2.72 0.30 -36.10
11/30/2008 -2.72 2.82 3.57 -40.68
12/31/2008 -2.00 2.83 7.43 -40.05
1/31/2009 -4.04 2.81 6.49 -45.10
2/28/2009 -3.93 2.84 6.08 -50.95
3/31/2009 -2.56 2.88 7.56 -46.65
4/30/2009 -1.19 2.90 8.07 -41.55
5/31/2009 -1.04 2.92 8.86 -38.28
6/30/2009 -1.56 2.93 9.48 -38.15
7/31/2009 -2.15 2.95 11.24 -33.48
8/31/2009 -1.93 2.97 12.39 -31.07
9/30/2009 -0.56 3.00 13.57 -28.50
10/31/2009 -1.04 3.02 14.14 -29.83
11/30/2009 -1.45 3.03 15.61 -25.62
12/31/2009 -0.81 3.04 13.80 -24.19
1/31/2010 -3.25 3.05 15.54 -26.91
2/28/2010 -2.95 3.05 15.97 -24.65
3/31/2010 -1.75 3.05 15.83 -20.10
4/30/2010 -1.19 3.06 17.04 -18.84
5/31/2010 -2.28 3.08 18.02 -25.32
6/30/2010 -2.69 3.09 19.87 -29.23
7/31/2010 -0.66 3.11 21.15 -24.27
8/31/2010 -1.71 3.12 22.71 -27.69
9/30/2010 0.99 3.13 22.84 -21.24
10/31/2010 4.22 3.14 23.28 -18.24
11/30/2010 4.07 3.15 22.57 -18.23
12/31/2010 6.02 3.17 21.25 -12.76
1/31/2011 6.54 3.18 21.39 -10.70
2/28/2011 7.59 3.19 21.69 -7.64
3/31/2011 6.32 3.22 21.76 -7.60
4/30/2011 8.50 3.24 23.31 -4.86
5/31/2011 7.63 3.25 24.92 -5.94
6/30/2011 7.11 3.26 24.55 -7.51
7/31/2011 7.03 3.25 26.53 -9.39
8/31/2011 0.76 3.27 28.38 -14.31
9/30/2011 0.69 3.27 29.31 -20.34
10/31/2011 -1.56 3.28 29.45 -11.63
11/30/2011 -4.41 3.28 29.34 -11.82
12/31/2011 -2.65 3.28 30.76 -10.92
1/31/2012 -2.81 3.27 31.91 -6.93
2/29/2012 -1.98 3.27 31.88 -2.91
3/31/2012 -2.77 3.29 31.15 0.29
4/30/2012 -2.22 3.29 32.61 -0.34
5/31/2012 -2.77 3.30 33.81 -6.33
6/30/2012 -3.20 3.31 33.86 -2.47
7/31/2012 -1.28 3.32 35.71 -1.12
8/31/2012 0.21 3.34 35.79 1.11
9/30/2012 1.38 3.35 35.98 3.72
10/31/2012 1.74 3.36 36.25 1.81
11/30/2012 2.36 3.37 36.46 2.40
12/31/2012 3.00 3.39 36.27 3.33
1/31/2013 5.23 3.39 35.32 8.68
2/28/2013 5.60 3.39 35.99 10.16
3/31/2013 6.29 3.41 36.10 14.29
4/30/2013 6.49 3.42 37.48 16.49
5/31/2013 4.54 3.42 35.03 19.22
6/30/2013 1.90 3.43 32.94 17.62
7/31/2013 2.76 3.44 33.12 23.60
8/31/2013 2.27 3.44 32.44 20.02
9/30/2013 2.71 3.45 33.69 23.79
10/31/2013 4.38 3.45 34.77 29.48
11/30/2013 4.79 3.45 34.27 33.42
12/31/2013 6.02 3.47 33.51 36.80
1/31/2014 6.22 3.47 35.48 32.07
2/28/2014 9.00 3.47 36.20 38.11
3/31/2014 8.80 3.48 35.97 39.27
4/30/2014 8.55 3.48 37.12 40.30
5/31/2014 9.94 3.48 38.68 43.60
6/30/2014 10.68 3.49 38.75 46.56
7/31/2014 9.52 3.49 38.40 44.54
8/31/2014 11.22 3.49 39.93 50.32
9/30/2014 9.60 3.50 38.98 48.22
10/31/2014 11.43 3.50 40.35 51.84
11/30/2014 13.18 3.50 41.34 55.92
12/31/2014 12.43 3.50 41.48 55.53
1/31/2015 13.41 3.50 44.44 50.86
2/28/2015 14.87 3.50 43.08 59.53
3/31/2015 15.13 3.50 43.75 57.00
4/30/2015 14.18 3.51 43.23 58.51
5/31/2015 14.44 3.51 42.89 60.55
6/30/2015 11.83 3.51 41.33 57.44
7/31/2015 10.97 3.51 42.31 60.74
8/31/2015 10.88 3.52 42.11 51.04
9/30/2015 11.14 3.52 43.07 47.30
10/31/2015 10.92 3.52 43.09 59.73
11/30/2015 9.77 3.52 42.72 60.21
12/31/2015 7.57 3.56 42.25 57.68
1/31/2016 5.69 3.56 44.21 49.85
2/29/2016 6.52 3.58 45.23 49.65
3/31/2016 10.42 3.63 46.57 59.80
4/30/2016 10.86 3.66 47.13 60.42
5/31/2016 10.51 3.67 47.17 63.30
6/30/2016 11.12 3.71 49.81 63.73
7/31/2016 12.70 3.74 50.76 69.76
8/31/2016 11.60 3.76 50.59 70.00
9/30/2016 11.12 3.81 50.50 70.03
10/31/2016 9.37 3.83 49.35 66.93
11/30/2016 9.11 3.85 45.81 73.11
12/31/2016 9.43 3.89 46.02 76.54
1/31/2017 9.76 3.94 46.31 79.88
2/28/2017 9.90 3.98 47.29 87.03
3/31/2017 10.09 4.00 47.21 87.25
4/30/2017 10.67 4.07 48.35 89.17
5/31/2017 11.00 4.12 49.49 91.83
6/30/2017 11.29 4.21 49.34 93.03
7/31/2017 11.29 4.30 49.98 97.00
8/31/2017 11.19 4.40 51.33 97.60
9/30/2017 11.43 4.49 50.61 101.68
10/31/2017 12.53 4.58 50.70 106.38
Date Dividends
12/24/2007 0.107
12/30/2008 1.4095
12/30/2009 0.3806
12/23/2011 1.0792
12/21/2012 0.9373
12/20/2013 0.0
6/20/2014 0.4999
12/18/2014 0.8167
12/17/2015 0.1938
12/16/2016 2.0383

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 11/22/2017

Date 2012 2013 2014 2015 2016
Short Term 0.2492
Long Term 0.1331 0.0770
Total Amount of Distribution 0.1331 0.3262
Record Date 12/18/13 12/16/15
Ex Div Date 12/19/13 12/17/15
Pay Date 12/20/13 12/17/15

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Holdings

(48.3% of assets as of 10/31/2017)


Strategy Allocation

(7.4% of assets as of 10/31/2017)


Fixed Income Alternatives Equity Market Neutral Volatility Other Global Macro
14.4% 2.0% 0.6% -1.2% -8.4%

Portfolio Holdings Breakdown

Country 5
Developed Markets 5
Emerging Markets 5
Country Global Multi Strategies Fund BofA/ML 3-month US T-Bill Overweight / Underweight
United States 18.2% - -
Sweden 7.2% - -
New Zealand 6.9% - -
Bermuda 4.3% - -
Cayman Islands 2.5% - -
Supranational (non-iso) 0.9% - -
Russia 0.7% - -
Ireland 0.7% - -
France 0.6% - -
Canada 0.5% - -
South Korea 0.5% - -
Jamaica 0.4% - -
Chile 0.4% - -
Germany 0.3% - -
Netherlands 0.3% - -
Italy 0.2% - -
Colombia 0.2% - -
Belgium 0.1% - -
Developed Markets Global Multi Strategies Fund BofA/ML 3-month US T-Bill Overweight / Underweight
Americas 25.4% - -
Asia Pacific 0.9% - -
Supranational 0.9% - -
Europe -9.3% - -
Emerging Markets Global Multi Strategies Fund BofA/ML 3-month US T-Bill Overweight / Underweight
Americas 0.8% - -
Asia Pacific 0.5% - -
Africa -0.5% - -
Analytics
(As of 10/31/2017)

Morningstar 10/31/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
266
Category
Multialternative
Performance Statistics
3Y
5Y
Alpha
0.34
1.88
Beta
16.97
12.85
Information Ratio
-0.01
0.45
Sharpe Ratio
0.01
0.46
Standard Deviation
3.80
4.00
Upside Capture
184.75
762.57
Downside Capture
8083.59
-6340.36
Sortino Ratio
0.00
0.21
Win Ratio
56.00
62.00
Loss Ratio
44.00
38.00
Margin of Outperformance
0.69
0.83
Margin of Underperformance
-0.85
-0.93
Tracking Error
3.77
4.00
Dividends
  • D
Est. Frequency
Annual
Last Pay Date
12/16/2016
Per Share ($)
$2.04
Net Income
27.40%
Net Profit from Sale
0.00%
Other Capital Sources
72.60%
12-Month Distribution ($)
$2.04
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$24.50 B
-
Median Market Cap (weighted)
$3.10 B
-
P/E Ratio (LTM)
26.09
-
P/E Ratio (NTM)
19.73
-
Price/Book
2.31
-
Turnover Ratio
111.00%
-
Documents
  1. 1. Special Risks: Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Event-linked securities are fixed income securities, otherwise known as Cat Bonds, for which the return of principal and interest payment is contingent on the non-occurrence of a trigger event that leads to physical or economic loss. If the trigger event occurs prior to maturity, the Fund may lose all or a portion of its principal and additional interest. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. Short selling may increase volatility and risk of loss and is considered a speculative investment practice. Commodity-linked investments are speculative and have substantial risks, including the loss of principal. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Investments in real estate companies, including REITs or similar structures, are subject to volatility and risk. Smaller real estate companies may also be subject to liquidity risk. The Fund may also invest through a wholly-owned Cayman Islands subsidiary, which involves the risk that changes to the laws of the Cayman Islands could negatively affect the Fund.
  2. 2. The Manager has contractually agreed to waive expenses in an amount equal to the management fee it receives from its Subsidiary for so long as the Fund invests in the Subsidiary. This waiver may not be terminated without the prior approval of the Fund's Board of Trustees.
  3. 3. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  4. 4. Access index definitions.
  5. 5. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
  6. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  7. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
  8. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  9. D. There is no guarantee of the payment of any dividend or other distributions at any level.
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