Balter Invenomic Fund

BIVIX

Invenomic leverages the best of quantitative analysis and fundamental analysis in an attempt to create a compelling and effective investment strategy

Invenomic actively manages the portfolio’s market exposure, as its discipline to short only negative return stocks seeks optimal portfolio exposure

Invenomic’s strategy seeks to benefit from challenging market environments as its focus on diversification and liquidity may enable the strategy to profit from increasing dispersion and volatility¹

¹Volatility is a statistical measure of the dispersion of returns for a given security or market index.  Volatility can either be measured by using the standard deviation or variance between returns from that same security or market index.

*The referenced hypothetical illustrations are shown for illustrative purposes only and are not meant to represent the Fund.  Liquidity and/or diversification does not ensure profit or protect against loss.

Invenomic Capital Management LP

Invenomic Capital Management is a U.S. focused, all-cap, long/short manager that incorporates the use of both quantitative and fundamental analysis to develop a highly diversified portfolio.  Invenomic seeks to identify cash generative companies on the long side, which demonstrate an established competitive position, where business is improving and which have attractive capital deployment opportunities.  Invenomic balances the long portfolio with a variable short portfolio consisting of overvalued companies that are expected to demonstrate a deterioration in business fundamentals.  By utilizing a variable short approach, Invenomic seeks to protect capital when the market is overvalued, while preserving the opportunity to grow capital when prospective returns are attractive.  Invenomic’s quantitative process is focused on scouring underlying financial data rather than factors and the firms fundamental research process is characterized by a focus on primary financial data such as company filings, transcripts and presentations.  The firm believes that significant diversification facilitates both risk management and capital reallocation, particularly during market dislocations.

Performance through August 31, 2017
Monthly (8/31/17) MTD 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception*
BIVIX -1.28% 0.20%
S&P 500 Index 0.31% 11.93% 16.23% 9.54% 14.34% 7.61% 1.16%
Morningstar L/S Equity Cat. 0.02% 5.48% 7.46% 1.52% 4.54% 1.75% 0.79%
Performance through June 30, 2017
Quarterly (6/30/17) MTD 3 Month YTD 1 Year 3 Year 5 Year 10 Year Since Inception*
BIVIX 0.70%
Total operating fund expenses as of 6/19/2017: (Gross) 4.63%. (Net) 2.24%**See below for full disclosure.
*Fund Inception: 06/19/2017. The Fund has a limited history of operations.**Pursuant to an operating expense limitation agreement between Balter Liquid Alternatives, LLC (the “Adviser”) and the Fund, the Adviser has agreed to waive its fees and/or absorb expenses of the Fund to ensure that Total Annual Fund Operating Expenses (excluding any front-end or contingent deferred sales loads, brokerage fees and commissions, acquired fund fees and expenses, borrowing costs (such as interest and dividend expense on securities sold short), taxes and extraordinary or non-recurring expenses, including, but not limited to, litigation) for the Fund do not exceed 2.24% and 2.49% of the Fund’s average net assets, for Institutional Class and Investor Class shares, respectively, through February 28, 2019. This operating expense limitation agreement can be terminated only by, or with the consent of, the Board of Trustees. The Adviser is permitted to seek reimbursement from the Fund for fees it waived and Fund expenses it paid, subject to the limitation that: (1) the reimbursement for fees and expenses will be made only if payable within three years from the date on which they were incurred; and (2) the reimbursement may not be made if it would cause the expense limitation in effect at the time of the waiver or currently in effect, whichever is lower, to be exceeded.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. The fund imposes a 1.00% redemption fee on shares sold within 60 days. For performance information current to the most recent month-end, please call toll free 855-854-7258.

The indices shown are for information purposes only and are not reflective of any investment. As it is not possible to invest in the indices, the data shown does not reflect or compare features of an actual investment, such as its objectives, costs and expenses, liquidity, safety, guarantees or insurance, fluctuation of principal or return, or tax features.

You are now leaving the Balter Liquid Alternatives mutual fund site.