Longboard

MANAGED FUTURES STRATEGY FUND

WAVIX/WAVEX Documents

(Frequently Used PDFs) Statement of Additional Information Summary Prospectus Prospectus

Why Consider Managed Futures?

Reduce Risk

Historically, an allocation to managed futures can help stabilize returns by reducing portfolio volatility.

Global Diversification

Managed futures has the potential to produce positive returns by investing in a global portfolio of stocks, bonds, currencies, and commodities.

Historically Low Correlation to the S&P 500

May profit from markets going up or down, potentially producing returns at different times from stocks or bonds.

Seeks Positive Absolute Returns

The primary investment objective of the Longboard Manged Futures Fund (the "Fund") is to seek positive absolute returns.

Who are the Fund's Competitors?

Longboard seeks to outperform the Societe Generale Trend Index ("SG Trend Index"), a benchmark of the 10 largest managed futures managers in the world (avg. assets under management $3.44 billion), in addition to its primary benchmark, the ICE Bank of America Merrill Lynch 3-Month U.S. T-Bill Index.
To be considered for the SG Trend Index, managers must meet the following criteria:
  • Primarily trade futures
  • Broadly diversified across asset classes
  • Industry-recognized trend follower
  • Be open to new investments
  • Report returns daily (net of fees)

Portfolio Information

Class Ticker Inception Date Unitary Fee* CUSIP
A WAVEX 3/22/13 2.87% 66538A430
I WAVIX 6/27/12 2.88% 66538A422
*Total Annual Operating Expenses for the Longboard Managed Futures Strategy Fund are 3.19% and 2.94% for Class A and I, respectively.