American Beacon Grosvenor Long/Short Fund
American Beacon Grosvenor Long/Short Fund will seek long-term capital appreciation. At this point the strategy for pursuing that objective is entirely hypothetical. American Beacon hired Grosvenor Capital Management to hire other firms to actually manage the portfolio. So far, the folks actually managing the money haven’t been named, though we do know that one (or more) of them might pursue an equity strategy while one (or more) of them might purse an event-driven strategy, though the fund might not simultaneously pursue both strategies. This might explain the fund’s expense structure. Opening expenses on the Investor share class are 2.49% after waivers with a rich management fee of 1.55%. The minimum initial purchase requirement is $2500.
AMG GW&K Small Cap Growth Fund
AMG GW&K Small Cap Growth Fund will seek to provide investors with long-term capital appreciation. The plan is to build a diversified domestic small cap portfolio. Nothing fancy, so far as I can tell. The fund will be managed by Daniel L. Miller and Joseph C. Craigen. Mr. Miller already co-manages a very solid small-blend fund for AMG. The initial expense ratio will be 1.45% and the minimum initial investment is $2,000, reduced to $1,000 for IRAs.
Balter Discretionary Global Macro Fund
Balter Discretionary Global Macro Fund (BGMVX) will seek to generate positive absolute returns in most market conditions. The plan is to do predictably complex stuff with derivatives and direct investments in order to build a portfolio of non-correlated assets . The fund will be sub-advised by Philip Yang and Frank C. Marrapodi of Willowbridge Associates. The initial expense ratio will be 2.19% (and that’s after waivers) and the minimum initial investment is $5,000.
Cutler Emerging Markets Fund
Cutler Emerging Markets Fund will seek current income and long-term capital appreciation. The plan is to use the same discipline they apply in their pretty solid Cutler Equity Fund (CALEX) to the emerging markets. They might hedge their currency exposure, but maybe not. Otherwise, no particular twists. The fund will be managed by Matthew Patten, Erich Patten and Xavier Urpi. The initial expense ratio will be 1.55% and the minimum initial investment is $2,500.
Eventide Multi-Asset Income Fund
Eventide Multi-Asset Income Fund will seek current income while maintaining the potential for capital appreciation. The plan is to invest in whatever income-producing assets look most attractive. They might obtain that exposure directly or through derivatives and they might invest up to 10% in short positions. In either case, the fund has substantial positive and negative social screens. The fund, other than noted below, will be managed by Martin Wildy and David Dirk. The fund’s intermediate bond sleeve will be managed by unnamed folks from Boyd Watterson Asset Management. The initial expense ratio will be 1.19% for “N” shares and the minimum initial investment is $1,000.
Grandeur Peak Global Micro Cap Fund
Grandeur Peak Global Micro Cap Fund will seek long-term growth of capital. The method here replicates the strategy in GP’s other funds, but apply it exclusively to global stocks with market caps under $1.5 billion. They warn of substantial emerging and frontier exposure. The fund will be managed by Randy Pearce & Blake Walker with GP’s senior manager, Robert Gardiner, hovering in the background. The initial expense ratio has not been released and the minimum initial investment is $2,000.
Grandeur Peak Global Stalwarts Fund
Grandeur Peak Global Stalwarts Fund will seek long-term growth of capital. The method here replicates the strategy in GP’s other funds, but apply it exclusively to stocks with market caps over $1.5 billion. GP defines “stalwarts” as “growth companies that are maturing. They are proven success stories that still have headroom to grow, but whose growth is slowing as they mature.” They warn of substantial emerging and frontier exposure. The fund will be managed by Randy Pearce & Blake Walker with GP’s senior manager, Robert Gardiner, hovering in the background. The initial expense ratio has not been released and the minimum initial investment is $2,000..
Grandeur Peak International Stalwarts Fund
Grandeur Peak International Stalwarts Fund will seek long-term growth of capital. The method here replicates the strategy in GP’s other funds, but apply it exclusively to non-U.S. stocks with market caps over $1.5 billion. They warn of substantial emerging and frontier exposure. The fund will be managed by Randy Pearce & Blake Walker with GP’s senior manager, Robert Gardiner, hovering in the background. The initial expense ratio has not been released and the minimum initial investment is $2,000.
James Aggressive Allocation Fund
James Aggressive Allocation Fund will seeks to provide total return through a combination of growth and income. I don’t see anything particularly aggressive about it: the default is a 60/40 allocation with the proviso that stocks might range from 50-100% of the portfolio. The fund will be managed by nine guys, many of whom are named James. The initial expense ratio hasn’t been disclosed and the minimum initial investment is $10,000, reduced to $5,000 for IRAs.
Janus Adaptive Global Allocation Fund
Janus Adaptive Global Allocation Fund will seek total return through growth of capital and income. The plan is to invest globally in stocks and bonds but to focus especially on the issue of “tail risk.” That is, relatively unlikely events that might have a major impact should they occur. The neutral allocation is 70/30 global stocks to bonds. The fund will be managed by Ahhwin Alankar, Ph.D., and Enrique Chang. Opening expenses on the fund’s five share classes have not been revealed. The minimum initial purchase for the various retail shares is $2500.
Meeder Dividend Opportunities Fund
Meeder Dividend Opportunities Fund will seek to provide total return, including capital appreciation and current income. The plan is to invest at least 80% in dividend-paying stocks, either directly or through ETFs and similar creatures. Up to 20% might be in fixed income. They use the same strategies in separate accounts; the composite there shows them leading their benchmark about as often as they trail it. The fund will be managed by a team from Meeder Asset Management. The initial expense ratio will be 1.72% and the minimum initial investment is $2,500, reduced to $500 for IRAs.
TCW Developing Markets Equity Fund
TCW Developing Markets Equity Fund will seek long-term capital appreciation. The fund will invest in stocks and might invest in derivatives either to hedge or achieve their equity exposure. They’ll pick stocks based on the typical combination of quant and fundamental work; they’ll pick country exposure based on a bunch of macro factors. The fund will be managed by Ray S. Prasad, formerly of Batterymarch, and Andrey Glukhov. Expenses not revealed. The minimum initial investment will be $2000, reduced to $500 for tax-advantaged accounts.
Triad Small Cap Value Fund
Triad Small Cap Value Fund will seek long-term capital appreciation and attempt to minimize the probability of permanent losses over the longer-term, with less emphasis on short-term market fluctuations. At base, they’re investing in small caps but willing to hold cash. The managers will be John Heldman, formerly a Neuberger Berman manager, and David Hutchison. The fund’s opening expense ratio is listed as 1.XX%. That’s hard to argue with. The minimum initial investment will be $5,000.
