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TICKER: EEHAX
CUSIP: 29446A785
INCEPTION DATE: Sep 9, 2013
TICKER: EEHIX
CUSIP: 29446A777
INCEPTION DATE: Sep 9, 2013

DAILY PRICING (as of Sep 17, 2018)

NAV: Change: Change: Change YTD:
$10.58 -$0.05 -0.47% +2.12%

DAILY PRICING (as of Sep 17, 2018)

NAV: Change: Change: Change YTD:
$10.74 -$0.05 -0.46% +2.78%

Effective June 29, 2018: The Equinox EquityHedge US Strategy Fund has been restructured and renamed to the Equinox Ampersand Strategy Fund. The Ampersand Fund will assume the existing ticker symbols of EEHIX (Class-I) and EEHAX (Class-A). View Press Release. 

Overall ★★★★★        3-year ★★★★★ 

EEHIX (I-share) earns a 5-star Morningstar RatingTM out of 189 funds (as of 6/30/2018) in the long-short equity category based on the risk-adjusted three-year returns. Rank within Morningstar category does not account for sales charges.*

Designed as a core portfolio holding, the Ampersand Strategy Fund is constructed through an integrated three-prong approach that effectively blends fixed income, equities, & diversifiers.

Objective: An innovative fund solution that aims to achieve returns and volatility comparable to the S&P 500® Total Return Index, while seeking to avoid the full impact of downside risk.
1. Balancing Risk & Reward
The Fund is anchored by a laddered fixed-income portfolio for additional yield and volatility reduction.
2. Capital Efficient Equity Exposure
Alpha generation is achieved through S&P 500® futures contracts.
3. Diversifying Programs
Futures strategies and equity hedges designed to add alpha and uncorrelated absolute returns.

WTF? — Why the Fee?
In the event the Ampersand Strategy Fund underperforms the S&P 500® Index in a given year, the Equinox management fee will be waived the following year.1

More about the Ampersand Strategy Fund

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS. YOU CAN LOSE MONEY IN A MANAGED FUTURES PROGRAM.

1For a 12-month period, beginning July 1, 2018 and ending June 30, 2019-the Performance Period-and for each subsequent annual period thereafter, the Equinox management fee will be subject to a performance based voluntary waiver. Although the management fee is subject to a performance-based waiver, other fees and expenses do apply to an investment in the Fund.

*The Morningstar RatingTM for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Morningstar Rating is for the I-Share class only; other classes may have different performance characteristics.

©2018 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Fund ratings are only one form of performance measurement. For the most current performance please refer to the ‘Performance’ tab.

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective.

FUND RISKS

Equity  Strategy  Risk: Because the Fund will normally invest a substantial portion of its assets in equity securitiesand equity-related instruments designed to track the performance of one or more equity indexes, the value of theFund’s portfolio will be affected by changes in the equity markets. At times, the equity markets can be volatile, andprices of equity securities can change drastically. Market risk will affect the Fund’s net asset value, which will fluctu-ate as the values of the Fund’s portfolio securities and other assets change. Not all equity prices change uniformlyor at the same time, and not all equity markets move in the same direction at the same time. In addition, other fac-tors can adversely affect the price of a particular equity security (for example, poor management decisions, poorearnings reports by an issuer, loss of major customers, competition, major litigation against an issuer, or changes ingovernment regulations affecting an industry). Not all of these factors or their affects can be predicted.

Overlay  Strategy  Risk: The profitability of the Fund’s investment (typically through a swap agreement) in the third-party commodities trading programs part of the Overlay Strategy depends primarily on the ability of the various man-agers to anticipate price movements in the relevant markets and underlying derivative instruments and futurescontracts. Such price movements are influenced by, among other things:

 

  • changes in interest rates;
  • governmental, trade, fiscal, monetary and exchange control programs and policies;
  • changing supply and demand relationships;
  • changes in balances of payments and trade;
  • U.S. and international rates of inflation and deflation;
  • currency devaluations and revaluations;
  • U.S. and international political and economic events; and
  • changes in philosophies and emotions of various market participants.

 

The Fund’s Overlay Strategy may not take all of these factors into account. In addition, the Fund will indirectly bearthe expenses, including management fees, performance fees and transaction fees, associated with the OverlayStrategy which will reduce returns.

The use of futures contracts, forward contracts and derivative instruments will have the economic effect of financialleverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying an investmentand results in increased volatility, and potentially greater losses. There is no assurance that the Fund’s investmentin the Overlay Strategy with leveraged exposure to certain investments and markets will act as a successful hedgingstrategy or enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the funds are contained in the applicable Prospectuses, which can be obtained by calling 1.888.643.3431. The Prospectuses should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Institutional Asset Management, LP and featured Commodity Trading Advisors are not affiliated with Northern Lights Distributors, LLC.

Equinox Institutional Asset Management, LP serves as the Fund’s investment advisor.  SECURITIES OFFERED THROUGH EQUINOX GROUP DISTRIBUTORS, LLC, MEMBER FINRA. To obtain more information, contact Equinox Funds at 1.877.837.0600. info@equinoxfunds.com.

The material provided on this website is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or service in any jurisdiction where such transaction would be unauthorized or unlawful.

3868-NLD-9/17/2018

The Equinox Ampersand Strategy Fund is a mutual fund that seeks to provide exposure to broad based US equity indices, while employing a dynamic hedging strategy to potentially enhance returns and dampen risk during periods of equity market stress.

Hedge beta exposure by sector — as of Jun 30, 2018


Risk exposures are based on beta adjusted exposures where each position’s beta against the S&P 500® Total Return Index is measured and is aggregated by sector at the portfolio level.
*Source: Equinox Institutional Asset Management, LP and Bloomberg, LP. Reflects broad sector net risk exposures. Sector exposures and positions held may vary depending on market conditions and may not be representative of the Fund’s current or future exposures. Portfolio positions are subject to change and should not be considered investment advice.

Fund exposure by futures strategy — as of Jul 31, 2018

Futures Strategy
% Exposure
program description
Info, Notes & Performance
Quest Partners
17.7%
Other
H2O Asset Management
10.4%
Global Macro, Discretionary
Firm location:
London, United Kingdom  
Program name:
Force 10 
Program inception:
March 2011 
Firm AUM (8/31/18):
$27.5 Billion 
Principal(s):
Bruno Crastes, CEO,
Vincent Chailley, CIO,
Marc Maudhuit, Client Portfolio Manager,
Jean-Noel Alba, CEO

The investment philosophy of H2O is based on the conviction that value diversification is the most stable and robustsource of alpha over time. All-out diversification not only across assets, but also by investment horizon and manager expertise, gives us the ability to make better decisions and to produce more consistent risk adjusted performance. To generate alpha, H2O AM follows a top-down qualitative investment process and monitors the risk associated to calibrate the highly diversified strategies. No single position in itself has any meaning outside this overall risk/return context. A view is fed by a set of factors from seven fund managers and established as a risk-on, risk-off or diversifying strategy at a given horizon. The qualitative views are then translated into quantitative forecasts taking into account past volatilities and correlations and using Black & Litterman methodology as the key instrument enabling the conversion of views into positions. H2O AM fund managers take directional, relative value and specific/thematic positions in fixed income, currency and equity markets (no credit, no commodity exposure). The exposures are first decided in respect of each asset class: G4 govies, USD and equity markets. Relative value strategies are then constructed independently from the directional positions: they are "exposure-neutral". Finally, specific or thematic calls may be implemented separately. All the above strategies are invested using preferably derivatives. The Funds Under Management corresponds to the assets of the strategy.

Blue Sky Alternative Investments LLC
7.5%
Other
IPM Informed Portfolio Mgmt.
7.4%
Other
Crabel Capital Management
7.4%
Systematic; Short-Term Trading
Firm location:
Los Angeles, CA  
Program name:
Multi-Product program 
Program inception:
March 1998 
Firm AUM (8/31/18):
$2,767.1 billion (includes notional equity)  
Principal(s):
Toby Crabel

Quantitative Investment Management
7.2%
Quantitative, Systematic
Firm location:
Charlottesville, VA 
Program name:
Global program 
Program inception:
October 2003 
Firm AUM (8/31/18):
$2.81 billion  
Principal(s):
Jaffray Woodriff,
Michael Geismar,
Greyson Williams

Emil van Essen, LLC
5.6%
Spread Trading. Discretionary
Firm location:
Chicago, IL  
Program name:
Spread Trading program 
Program inception:
December 2006 
Firm AUM (8/1/18):
$144 million 
Principal(s):
Emil Van Essen

FORT, L.P.
5.6%
Systematic, Contrarian, Trend Anticipation
Firm location:
Chevy Chase, MD  
Program name:
Global Contrarian program 
Program inception:
October 2002  
Firm AUM (8/30/18):
$5.62 billion  
Principal(s):
Dr. Yves Balcer, Ph.D.,
Dr. Sanjiv Kumar, Ph.D.

Arctic Blue Capital
5.6%
Other
Quantica Capital
4.7%
Systematic, Quantative, Medium to Long-Term Trend Following
Firm location:
Schaffhausen, Switzerland 
Program name:
Managed Futures program 
Program inception:
January 2005 
Firm AUM (8/31/18):
$555 million 
Principal(s):
Dr. Bruno Gmür,
Patrick J. Aregger,
Thomas Looser

LCJ Investments SA
4.6%
Other
J E Moody & Company
3.9%
Spread Trading
Firm location:
Portland, OR 
Program name:
Commodity Relative Value program 
Program inception:
May 2006 
Firm AUM (7/31/18):
$336 million 
Principal(s):
John E. Moody, Ph.D.

The Cambridge Strategy
3.6%
Other
QMS Capital Mangement
3.1%
Other
KeyQuant SAS
3.0%
Other
Quest Partners
2.7%
Medium Term Trend Following
Firm location:
New York, NY 
Program name:
Tracker Index program 
Program inception:
October 2011 
Firm AUM (8/31/18):
$1.678 B  
Principal(s):
Nigol Koulajian,
Pawel Czkwianianc

Sub-advisor exposure as of the date stated, are subject to change and should not be considered investment advice.

Performance attribution — as of Jul 31, 2018


Attribution shown is A Share without load. Attribution numbers have been rounded for ease of use. Performance is net of fees and includes fixed income (starting November 2014). Past performance does not guarantee future results.

Correlation matrix of futures strategies — Jul 1, 2013 - Jun 30, 2018

Arctic Blue Sky Cambridge Crabel EVE FORT H2O IPM J E Moody KeyQuant LCJ QIM QMS Quantica Quest
Arctic 1.00
Blue Sky -0.201.00
Cambridge 0.090.301.00
Crabel 0.590.110.191.00
EVE 0.310.240.02-0.161.00
FORT 0.550.19-0.050.11-0.081.00
H2O 0.16-0.150.19-0.05-0.06-0.161.00
IPM -0.040.340.230.000.030.170.041.00
J E Moody 0.10-0.070.040.20-0.190.040.17-0.201.00
KeyQuant 0.590.310.130.28-0.040.73-0.070.130.141.00
LCJ -0.100.200.430.29-0.040.070.230.000.050.181.00
QIM 0.24-0.05-0.030.130.030.01-0.13-0.17-0.13-0.020.061.00
QMS 0.440.370.240.18-0.060.47-0.020.180.120.680.19-0.121.00
Quantica 0.580.200.030.290.010.77-0.150.140.100.790.13-0.050.581.00
Quest 0.680.370.110.44-0.050.57-0.070.060.210.750.170.110.560.741.00

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS. YOU CAN LOSE MONEY IN A MANAGED FUTURES PROGRAM.

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective.

FUND RISKS

Equity  Strategy  Risk: Because the Fund will normally invest a substantial portion of its assets in equity securitiesand equity-related instruments designed to track the performance of one or more equity indexes, the value of theFund’s portfolio will be affected by changes in the equity markets. At times, the equity markets can be volatile, andprices of equity securities can change drastically. Market risk will affect the Fund’s net asset value, which will fluctu-ate as the values of the Fund’s portfolio securities and other assets change. Not all equity prices change uniformlyor at the same time, and not all equity markets move in the same direction at the same time. In addition, other fac-tors can adversely affect the price of a particular equity security (for example, poor management decisions, poorearnings reports by an issuer, loss of major customers, competition, major litigation against an issuer, or changes ingovernment regulations affecting an industry). Not all of these factors or their affects can be predicted.

Overlay  Strategy  Risk: The profitability of the Fund’s investment (typically through a swap agreement) in the third-party commodities trading programs part of the Overlay Strategy depends primarily on the ability of the various man-agers to anticipate price movements in the relevant markets and underlying derivative instruments and futurescontracts. Such price movements are influenced by, among other things:


  • changes in interest rates;
  • governmental, trade, fiscal, monetary and exchange control programs and policies;
  • changing supply and demand relationships;
  • changes in balances of payments and trade;
  • U.S. and international rates of inflation and deflation;
  • currency devaluations and revaluations;
  • U.S. and international political and economic events; and
  • changes in philosophies and emotions of various market participants.

The Fund’s Overlay Strategy may not take all of these factors into account. In addition, the Fund will indirectly bearthe expenses, including management fees, performance fees and transaction fees, associated with the OverlayStrategy which will reduce returns.

The use of futures contracts, forward contracts and derivative instruments will have the economic effect of financialleverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying an investmentand results in increased volatility, and potentially greater losses. There is no assurance that the Fund’s investmentin the Overlay Strategy with leveraged exposure to certain investments and markets will act as a successful hedgingstrategy or enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the funds are contained in the applicable Prospectuses, which can be obtained by calling 1.888.643.3431. The Prospectuses should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Institutional Asset Management, LP and featured Commodity Trading Advisors are not affiliated with Northern Lights Distributors, LLC.

Equinox Institutional Asset Management, LP serves as the Fund’s investment advisor.  SECURITIES OFFERED THROUGH EQUINOX GROUP DISTRIBUTORS, LLC, MEMBER FINRA. To obtain more information, contact Equinox Funds at 1.877.837.0600. info@equinoxfunds.com.

The material provided on this website is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or service in any jurisdiction where such transaction would be unauthorized or unlawful.

5705-NLD-11/11/2015  |  EHUS884  

 

Fund Performance

As of Sep 17, 2018 As of Jun 30, 2018
Fund Name 1 month ytd quarter 1 year 3 years 1 5 years 1 since
inception 1
Equinox Ampersand Strategy Fund
Class A, without load (inception: Sep 9, 2013)
-1.76% 2.12% 1.36% 9.50% 8.17% 8.48%
Equinox Ampersand Strategy Fund
Class A, max load (inception: Sep 9, 2013)
-7.44% -3.73% -4.49% 3.22% 6.04% 7.15%
As of Sep 17, 2018 As of Jun 30, 2018
Fund Name 1 month ytd quarter 1 year 3 years 1 5 years 1 since
inception 1
Equinox Ampersand Strategy Fund
Class I (inception: Sep 9, 2013)
-1.65% 2.78% 1.44% 10.15% 8.54% 8.80%

1Annualized, unless the Fund has less than a year of performance where the numbers shown are cumulative total return.

The maximum sales charge (load) for class A is 5.75%. Class A Share investors may be eligible for a reduction in sales charges.

SEE PERFORMANCE AND EXPENSE DISCLOSURES BELOW.

Performance and risk versus benchmarks — as of Aug 31, 2018

Fund/index 1 month ytd 2015 2016 2017 Cumulative Return Annualized ROR Maximum Drawdown standard deviation Correlation
Vs. Indices
Equinox Ampersand Strategy Fund
Class A, without load
1.13% 3.47% -2.00% 11.88% 15.45% 52.13% 8.80% -9.00% 9.56% 1.00
Equities 1
3.26% 9.94% 1.38% 11.96% 21.83% 92.34% 14.05% -8.36% 9.63% 0.83

Performance and risk versus benchmarks — as of Aug 31, 2018

Fund/index 1 month ytd 2015 2016 2017 Cumulative Return Annualized ROR Maximum Drawdown standard deviation Correlation
Vs. Indices
Equinox Ampersand Strategy Fund
Class I
1.12% 4.11% -1.69% 12.19% 15.54% 54.50% 9.14% -8.65% 9.55% 1.00
Equities 1
3.26% 9.94% 1.38% 11.96% 21.83% 92.34% 14.05% -8.36% 9.63% 0.83

1S&P 500® Total Return Index

†ROR is Rate of Return.  Please refer to glossary for definitions of drawdown, standard deviation and correlation.

SEE PERFORMANCE AND EXPENSE DISCLOSURES BELOW.

Investors are not able to invest directly in the indices referenced in this illustration and unmanaged index returns do not reflect any fees, expenses or sales charges. The referenced indices are shown for general market comparisons and are not meant to represent the Fund.   

Performance of a hypothetical $10,000 investment — Sep 2013 to Aug 2018

Equinox Ampersand Strategy Fund - Class A ($15,213 as of Aug 2018)
S&P 500 Total Return Index ($19,234 as of Aug 2018)

Performance of a hypothetical $10,000 investment — Sep 2013 to Aug 2018

Equinox Ampersand Strategy Fund - Class I ($15,450 as of Aug 2018)
S&P 500 Total Return Index ($19,234 as of Aug 2018)

SEE PEFORMANCE AND EXPENSE DISCLOSURES BELOW.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS.

The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. Past performance is no guarantee of future results. The Fund’s investment adviser has contractually agreed to reduce its advisory fee and/or reimburse certain expenses of the Fund until October 31, 2018, to ensure that the Fund’s total annual operating expenses, excluding (i) taxes, (ii) interest, (iii) extraordinary items, (iv) “Acquired Fund” fees and expenses, and (v) brokerage commissions, do not exceed, on an annual basis, 1.20%, 1.45% and 2.20% of the Fund’s average daily net assets for Class I, Class A and Class C shares, respectively (the “Expense Limitation”). This is subject to possible recoupment from the Fund in future years. Please review the Fund’s Prospectus for more detail on the expense waiver. Results shown reflect the waiver, without which the results could have been lower. A Fund's performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. For performance information current to the most recent month end, please call toll-free 1-888-643-3431.

Gross/Net expense Ratio: Class A (EEHAX): 3.37% / 1.45%; Class C (EEHCX): 4.06% / 2.20%; Class I (EEHIX): 3.11% / 1.20%

FUND RISKS

Equity  Strategy  Risk: Because the Fund will normally invest a substantial portion of its assets in equity securitiesand equity-related instruments designed to track the performance of one or more equity indexes, the value of theFund’s portfolio will be affected by changes in the equity markets. At times, the equity markets can be volatile, andprices of equity securities can change drastically. Market risk will affect the Fund’s net asset value, which will fluctu-ate as the values of the Fund’s portfolio securities and other assets change. Not all equity prices change uniformlyor at the same time, and not all equity markets move in the same direction at the same time. In addition, other fac-tors can adversely affect the price of a particular equity security (for example, poor management decisions, poorearnings reports by an issuer, loss of major customers, competition, major litigation against an issuer, or changes ingovernment regulations affecting an industry). Not all of these factors or their affects can be predicted.

Overlay  Strategy  Risk: The profitability of the Fund’s investment (typically through a swap agreement) in the third-party commodities trading programs part of the Overlay Strategy depends primarily on the ability of the various man-agers to anticipate price movements in the relevant markets and underlying derivative instruments and futurescontracts. Such price movements are influenced by, among other things:

 

  • changes in interest rates;
  • governmental, trade, fiscal, monetary and exchange control programs and policies;
  • changing supply and demand relationships;
  • changes in balances of payments and trade;
  • U.S. and international rates of inflation and deflation;
  • currency devaluations and revaluations;
  • U.S. and international political and economic events; and
  • changes in philosophies and emotions of various market participants.

 

The Fund’s Overlay Strategy may not take all of these factors into account. In addition, the Fund will indirectly bearthe expenses, including management fees, performance fees and transaction fees, associated with the OverlayStrategy which will reduce returns.

The use of futures contracts, forward contracts and derivative instruments will have the economic effect of financialleverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying an investmentand results in increased volatility, and potentially greater losses. There is no assurance that the Fund’s investmentin the Overlay Strategy with leveraged exposure to certain investments and markets will act as a successful hedgingstrategy or enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the funds are contained in the applicable Prospectuses, which can be obtained by calling 1-888-643-3431. The Prospectuses should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Institutional Asset Management, LP and featured Commodity Trading Advisors are not affiliated with Northern Lights Distributors, LLC.

Equinox Institutional Asset Management, LP serves as the Fund’s investment advisor.  SECURITIES OFFERED THROUGH EQUINOX GROUP DISTRIBUTORS, LLC, MEMBER FINRA. To obtain more information, contact Equinox Funds at 1-877-837-0600. info@equinoxfunds.com.

The material provided on this website is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or service in any jurisdiction where such transaction would be unauthorized or unlawful.

3868-NLD-9/17/2018

Equinox Investment Philosophy and Process

At Equinox Funds, we believe that alternative and traditional investment portfolios built around rigorous diversification and dynamic risk management can add long-term value to an investment strategy. With this philosophy in mind, the Equinox portfolio management team employs the following six-step investment process:

Equinox Investment Process Overview

Step 1 SCREEN
After determining a Fund or Program’s goals and objectives, the Portfolio Team screens the manager universe for suitable candidates.
Step 2 ANALYZE
During this stage, the Portfolio Team seeks to rigorously evaluate historical performance and portfolio attributes as they relate to performance, volatility and strategy discipline.
Step 3 SELECT
The next step involves performing exhaustive due diligence on organization, personnel, investment process and operations.
Step 4 CONSTRUCT
At this stage of the process the anticipated portfolio is stressed using simulation tools for optimal return, risk, correlation and drawdown metrics.
Step 5 MANAGE
Once the initial candidates are identified, the Portfolio Team continually rebuilds the universe of managers and retests the portfolio dynamics.
Step 6 REBALANCE
Continuous monitoring of existing managers’ trading and performance seeks to detect style drift or other potential issues and rebalancing occurs as necessary.

Throughout the process, our goal is to provide investors with high-quality alternative investment portfolios that — when added to an asset allocation strategy — can potentially reduce risk and enhance returns over time.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS. YOU CAN LOSE MONEY IN A MANAGED FUTURES PROGRAM.

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective.

FUND RISKS

Equity  Strategy  Risk: Because the Fund will normally invest a substantial portion of its assets in equity securitiesand equity-related instruments designed to track the performance of one or more equity indexes, the value of theFund’s portfolio will be affected by changes in the equity markets. At times, the equity markets can be volatile, andprices of equity securities can change drastically. Market risk will affect the Fund’s net asset value, which will fluctu-ate as the values of the Fund’s portfolio securities and other assets change. Not all equity prices change uniformlyor at the same time, and not all equity markets move in the same direction at the same time. In addition, other fac-tors can adversely affect the price of a particular equity security (for example, poor management decisions, poorearnings reports by an issuer, loss of major customers, competition, major litigation against an issuer, or changes ingovernment regulations affecting an industry). Not all of these factors or their affects can be predicted.

Overlay  Strategy  Risk: The profitability of the Fund’s investment (typically through a swap agreement) in the third-party commodities trading programs part of the Overlay Strategy depends primarily on the ability of the various man-agers to anticipate price movements in the relevant markets and underlying derivative instruments and futurescontracts. Such price movements are influenced by, among other things:


  • changes in interest rates;
  • governmental, trade, fiscal, monetary and exchange control programs and policies;
  • changing supply and demand relationships;
  • changes in balances of payments and trade;
  • U.S. and international rates of inflation and deflation;
  • currency devaluations and revaluations;
  • U.S. and international political and economic events; and
  • changes in philosophies and emotions of various market participants.

The Fund’s Overlay Strategy may not take all of these factors into account. In addition, the Fund will indirectly bearthe expenses, including management fees, performance fees and transaction fees, associated with the OverlayStrategy which will reduce returns.

The use of futures contracts, forward contracts and derivative instruments will have the economic effect of financialleverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying an investmentand results in increased volatility, and potentially greater losses. There is no assurance that the Fund’s investmentin the Overlay Strategy with leveraged exposure to certain investments and markets will act as a successful hedgingstrategy or enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the funds are contained in the applicable Prospectuses, which can be obtained by calling 1.888.643.3431. The Prospectuses should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Institutional Asset Management, LP and featured Commodity Trading Advisors are not affiliated with Northern Lights Distributors, LLC.

Equinox Institutional Asset Management, LP serves as the Fund’s investment advisor.  SECURITIES OFFERED THROUGH EQUINOX GROUP DISTRIBUTORS, LLC, MEMBER FINRA. To obtain more information, contact Equinox Funds at 1.877.837.0600. info@equinoxfunds.com.

The material provided on this website is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or service in any jurisdiction where such transaction would be unauthorized or unlawful.

3868-NLD-9/17/2018

Portfolio Management Team

 

Dr. Ajay Dravid

Chief Investment Officer, Equinox Institutional Asset Management, LP

As Chief Investment Officer of Equinox Institutional Asset Management, Dr. Dravid is involved in day-to-day portfolio and risk management for all of Equinox Funds' offerings.  In addition, Dr. Dravid is involved in the development and the structuring of new products... | MORE

Dr. Rufus Rankin

Director of Research, Equinox Institutional Asset Management, LP

Dr. Rankin is the Director of Research of Equinox Institutional Asset Management.  In addition, Dr. Rankin also assists with the conception, development and implementation of new products... | MORE

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS. YOU CAN LOSE MONEY IN A MANAGED FUTURES PROGRAM.

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective.

FUND RISKS

Equity  Strategy  Risk: Because the Fund will normally invest a substantial portion of its assets in equity securitiesand equity-related instruments designed to track the performance of one or more equity indexes, the value of theFund’s portfolio will be affected by changes in the equity markets. At times, the equity markets can be volatile, andprices of equity securities can change drastically. Market risk will affect the Fund’s net asset value, which will fluctu-ate as the values of the Fund’s portfolio securities and other assets change. Not all equity prices change uniformlyor at the same time, and not all equity markets move in the same direction at the same time. In addition, other fac-tors can adversely affect the price of a particular equity security (for example, poor management decisions, poorearnings reports by an issuer, loss of major customers, competition, major litigation against an issuer, or changes ingovernment regulations affecting an industry). Not all of these factors or their affects can be predicted.

Overlay  Strategy  Risk: The profitability of the Fund’s investment (typically through a swap agreement) in the third-party commodities trading programs part of the Overlay Strategy depends primarily on the ability of the various man-agers to anticipate price movements in the relevant markets and underlying derivative instruments and futurescontracts. Such price movements are influenced by, among other things:


  • changes in interest rates;
  • governmental, trade, fiscal, monetary and exchange control programs and policies;
  • changing supply and demand relationships;
  • changes in balances of payments and trade;
  • U.S. and international rates of inflation and deflation;
  • currency devaluations and revaluations;
  • U.S. and international political and economic events; and
  • changes in philosophies and emotions of various market participants.

The Fund’s Overlay Strategy may not take all of these factors into account. In addition, the Fund will indirectly bearthe expenses, including management fees, performance fees and transaction fees, associated with the OverlayStrategy which will reduce returns.

The use of futures contracts, forward contracts and derivative instruments will have the economic effect of financialleverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying an investmentand results in increased volatility, and potentially greater losses. There is no assurance that the Fund’s investmentin the Overlay Strategy with leveraged exposure to certain investments and markets will act as a successful hedgingstrategy or enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund. This and other important information about the funds are contained in the applicable Prospectuses, which can be obtained by calling 1.888.643.3431. The Prospectuses should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Institutional Asset Management, LP and featured Commodity Trading Advisors are not affiliated with Northern Lights Distributors, LLC.

Equinox Institutional Asset Management, LP serves as the Fund’s investment advisor.  SECURITIES OFFERED THROUGH EQUINOX GROUP DISTRIBUTORS, LLC, MEMBER FINRA. To obtain more information, contact Equinox Funds at 1.877.837.0600. info@equinoxfunds.com.

The material provided on this website is for informational purposes only. It does not constitute an offer to sell or a solicitation of an offer to buy any security or service in any jurisdiction where such transaction would be unauthorized or unlawful.

3868-NLD-9/17/2018