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Core Market Neutral Fund

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Core Market Neutral Fund

About


The Core Market Neutral Fund is rooted in mathematics to deliver alpha independent of traditional risk factors. This quantitative strategy commonly demonstrates several attractive attributes:

  • A strategy that is historically non-correlated to most other investment strategies and asset classes
  • Potential to produce absolute returns in a bull or bear equity market and mitigate overall portfolio risks
  • Excess return generation based on model-driven rules rather than the underlying fundamentals of a stock
  • Multiple model approach: The strategy looks at relationship timeframes in a matter of hours to weeks to longer
  • Fundamental and statistical inputs: Consideration of both price action and fundamental business news via public filings
  • A strategy that is historically non-correlated to most other investment strategies and asset classes
  • Potential to produce absolute returns in a bull or bear equity market and reduce overall portfolio risks
  • Excess return generation based on model-driven rules rather than the underlying fundamentals of a stock
  • Multiple model approach: The strategy looks at relationship timeframes in a matter of hours to weeks to longer
  • Fundamental and statistical inputs: Consideration of both price action and fundamental business news via public filings

The Core Market Neutral Fund is a quantitative investment approach to exploiting relative price movements. A common form of stat arb is pairs trading, a market-neutral strategy that matches each long position with a short position resulting in a market neutral portfolio. The strategy seeks to recognize pricing relationships between two like or related securities (i.e. Coca-Cola and Pepsi or Apple and Microsoft). When the pricing relationship diverges, the strategy exploits the “mispriced” relationship and thus can profit from a price reversion.

Overview & Objective


The fund seeks capital appreciation with a low correlation to broad equity market indices. The Fund attempts to provide attractive risk-adjusted returns independent of overall equity market direction by employing systematic quantitative equities strategies with diversified sources of alpha and distinct investment theses across mean reversion, momentum, and fundamental investment styles. The fund also seeks to maintain market and sector neutrality with a low beta to equity indices.

In November 2018, the fund ceased its exposure to the Clinton Group, Inc.’s Flagship strategy. In December 2018, the fund obtained indirect exposure to Campbell & Company’s Quantitative Equity strategy returns. With this change, the fund gains indirect exposure to Campbell’s equity trading experience that dates back to 2001.

Facts


Fund Facts

Symbol: STAKX (I share), STTKX (N share)
Cusip Number: 66539A751 (I share), 66539A744 (N share)
Advisor: AlphaCore Capital

Fund AUM: $27.2 million as of 12/31/19
Minimum Investment: $500,000 (I share); $5,000 (N share)
Total Annual Fund Operating Expenses: 3.23% (N share), 2.79% (I share)
Total Annual Fund Operating Expenses after fee waiver: 2.11% (N share), 1.86% (I share)
The Fund’s adviser has contractually agreed to reduce its fees and to reimburse expenses, at least until October 31, 2020. Please see the Fund’s prospectus for more information.
Advisory Fee: 0.99%
Open to New Investors: Yes



Important Risk Information

This material represents the current views and opinions of AlphaCore Capital, and there is no guarantee that any forecasts made will come to pass. Due to various risks and uncertainties, actual events, results or performance may differ materially from those reflected or contemplated in any forward-looking statements. The opinions are based on market conditions as of the date of publication, and are subject to change. No obligation is undertaken to update any information, data or material contained herein.

The fund has a limited history of operations. Although the Fund’s investment strategy is to provide attractive risk-adjusted returns independent of overall market direction, there is no guarantee that the Fund ‘s performance will be independent of overall market direction in all market conditions. A significant part of the Fund’s investment operations may involve spread positions between two or more financial instrument positions. To the extent the price relationships between such positions remain constant, no gain or loss on the positions will occur. The Fund’s use of derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. The value of a derivative may be highly volatile and may fluctuate substantially during a short period of time. The Fund may depend on one or more managers to develop and implement appropriate systems for the Fund’s activities. The Fund may rely extensively on models and/or computer programs and systems to trade, clear and settle transactions, to evaluate certain securities based on real-time trading information, to monitor its portfolios and net capital, and to generate risk management and other reports that are critical to the oversight of the Fund’s activities. Any such defect or failure could have a material adverse effect on the Fund. The Fund’s investment program may involve the purchase and sale of relatively volatile financial instruments such as derivatives, which are frequently valued based on implied volatilities of such derivatives compared to the historical volatility of underlying financial instruments. Fluctuations or prolonged changes in the volatility of such instruments, therefore, can adversely affect the value of investments held by the Fund.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Core Market Neutral Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained at alphacorefunds.com or by calling 858-875-4100. The prospectus should be read carefully before investing. The Core Market Neutral Fund is distributed by Northern Lights Distributors, LLC member FINRA/SIPC. There is not affiliation between Campbell & Company, AlphaCore Capital and Northern Lights Distributors, LLC. 7034-NLD-8/12/2019