Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Hi, everyone! I stumbled upon this new fund today and it looks quite intriguing, although it has a short track record. Does anyone own it and if so, are you pleased with its performance/distributions? It looks similar to AZNIX/AZNDX and I'm thinking it may be a good option if interest rates should rise. Thoughts, please?
I located this discussion of the fund. Maybe someone will have some insight about how this type of strategy has fared elsewhere. All I understand is that its initial rate of return appears to be unsustainable. (The chart of the returns presented at M* is a pretty one though!)
It is a pretty new fund. The other funds managed by schooner don't seem noteworthy. I like the idea of it, but this seems like they are over promising. With very few aum, it may be a while before it is a sustainable fund.
August 17, 2011, the Board of Trustees of Nakoma Mutual Funds (the “Trust”) approved the reorganization of the Nakoma Absolute Return Fund (the “Nakoma Fund”), a series of the Trust, into the Schooner Global Absolute Return Fund (the “Schooner Global Absolute Return Fund”)
It will be worth watching how it does today (April 17, Friday) and for the next week or so if the equity markets remain in a down trend and/or sideways at lower levels. My 2 cents worth for these type of funds when the equity sectors are not in the "up" mode.
Yes, I was thinking the same thing. I am also curious if the steady uptrend is due mostly to fund inflows, rather than performance. I remember the same thing happening with RSIVX/RSIIX.
In the prospectus, they stated that the distribution could include return of capital...so I just plan to watch it for a while after I make a small investment before committing serious $$$$.
well, likely idiot that i am, i put in an order to buy some before the opening bell. hey, what's the worst that can happen? gulp.
btw / though scottrade isn't listed as a selling broker on the fund's morningstar page, you can buy it there, with a $17 fee as opposed to fidelity's $49 fee.
today marks my first official day of SHAIX ownership, up .13%. i figure this is going to be one of those funds that does real well for a year or so, then goes nowhere, then goes down, then is eliminated. in any event, i don't have enough money in it (yet) to make a diff either on the up or the downside. at the moment, fear is surprassing greed. we shall see!
Comments
schoonermutualfunds.com/wp-content/uploads/2012/03/Schooner-Hedged-Alternative-Income-Fund-2.2015.pdf
Yes, I believe you are correct.
August 17, 2011, the Board of Trustees of Nakoma Mutual Funds (the “Trust”) approved the reorganization of the Nakoma Absolute Return Fund (the “Nakoma Fund”), a series of the Trust, into the Schooner Global Absolute Return Fund (the “Schooner Global Absolute Return Fund”)
http://www.sec.gov/Archives/edgar/data/1355975/000089271211000724/nakoma497.htm
http://www.mfwire.com/article.asp?storyID=37713&template=article&bhcp=1
Then in 2013, Schooner liquidated the fund:
http://www.sec.gov/Archives/edgar/data/1141819/000089418913000794/schnrgbl-tpm_497e.htm
It will be worth watching how it does today (April 17, Friday) and for the next week or so if the equity markets remain in a down trend and/or sideways at lower levels.
My 2 cents worth for these type of funds when the equity sectors are not in the "up" mode.
btw / though scottrade isn't listed as a selling broker on the fund's morningstar page, you can buy it there, with a $17 fee as opposed to fidelity's $49 fee.
NEIMX might be a similar fund as it also tries to get some income from a similar strategy.
There's a CEF that uses a covered call strategy: Madison/Claymore Covered Call & Equity Strategy Fund - MCN
Here are a few articles are collar strategy mutual funds:
http://www.nytimes.com/2010/02/18/your-money/stocks-and-bonds/18COLLAR.html?_r=0
http://www.morningstar.com/cover/videocenter.aspx?id=675037
http://investorplace.com/2012/03/dont-bother-with-mutual-funds-that-use-options/#.VTVWwC4gimU
schoonermutualfunds.com/wp-content/uploads/2015/04/SHAIX-MARCH-2015.pdf