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TICKER: EBSAX
CUSIP: 29446A827
INCEPTION DATE: Mar 8, 2013
TICKER: EBSCX
CUSIP: 29446A751
INCEPTION DATE: Feb 11, 2014
TICKER: EBSIX
CUSIP: 29446A819
INCEPTION DATE: Mar 8, 2013
TICKER: EBSPX
CUSIP: 29446A793
INCEPTION DATE: Mar 8, 2013

DAILY PRICING (as of Oct 18, 2019)

NAV: Change: Change: Change YTD:
$9.44 -$0.07 -0.74% +15.26%

DAILY PRICING (as of Oct 18, 2019)

NAV: Change: Change: Change YTD:
$9.15 -$0.07 -0.76% +14.52%

DAILY PRICING (as of Oct 18, 2019)

NAV: Change: Change: Change YTD:
$9.55 -$0.08 -0.83% +15.48%

DAILY PRICING (as of Oct 18, 2019)

NAV: Change: Change: Change YTD:
$9.71 -$0.08 -0.82% +15.18%

Overall ★★★★        3-year ★★★        5-year ★★★★

EBSIX (I-Share) earns an overall Morningstar RatingTM of 4-stars in the managed futures category, a 3-star rating out of 96 funds, and a 4-star rating out of 74 funds, based on overall, three, and five year risk-adjusted returns, respectively as of 6/30/2019.*

The Equinox Campbell Strategy Fund seeks to generate attractive risk-adjusted returns across a broad range of market conditions through systematic investments in a diversified portfolio of futures and forward contracts.

Prospectus Objective: The Equinox Campbell Strategy Fund seeks to achieve long-term capital appreciation through exposure to one or more managed futures trading programs offered by Campbell & Company.

Approach

  • Accesses a diverse array of global asset classes including interest rates, equity indices, currencies, and commodities.
  • Combines the following strategies in an effort to reduce risk without sacrificing performance:
    • Systematic
    • Trend following with a combination of market, sector and factor-based strategies across multiple time horizons. Non-trend following with a combination of enhanced carry, cross-sector, short-term mean reversion strategies across multiple time horizons. 
  • Seeks to provide:
    • Daily liquidity
    • 1940 Act regulation
    • 1099 tax reporting

There is no assurance the Fund will achieve it's investment objective.

Futures Trading Style

Trend-Following: A strategy that seeks to profit from buying when models indicate that prices are trending up, and by selling when prices are indicated to be trending down. In general, pure trend-following models focus almost exclusively on the current price relative to some specified measure of historical prices, such as a moving average.

For more information on CTA trading styles, see the following links:

Definitions of Terms and Indices can be found within the glossary.

*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.

©2019 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.


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

IMPORTANT RISK DISCLOSURE

Mutual funds involve risk including possible loss of principal.

There is no assurance that the Fund will achieve its investment objective. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Many of the derivative contracts entered into by the Fund, the Subsidiary or a trading company will be privately negotiated in the over-the-counter market. These contracts also involve exposure to credit risk, since contract performance depends in part of the financial condition of the counterparty. Credit risk refers to the possibility that the issuer of the security will not be able to make principal and interest payments when due. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Derivative instruments come in many varieties and have a wide range of potential risks and rewards, and may include futures contracts, options on futures contracts, options, swaps, and forward currency exchange contracts. Derivatives typically have economic leverage inherent in their terms. The use of leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities or other investments. Furthermore, derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations.

Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. In addition to the risks generally associated with investing in securities of foreign companies, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues. In general, the price of a fixed income security falls when interest rates rise. Non-diversification is a risk, as the Funds are more vulnerable to events affecting a single issuer. Over-the-counter transactions are subject to little, if any, regulation and may be subject to the risk of counterparty default. Higher portfolio turnover may result in the fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders.

The Fund gains exposure to a managed futures program through its investment in trading companies utilizing the program. The profitability of the Fund’s investment in a trading company depends primarily on the ability of the managed futures program to anticipate price movements in the relevant markets and underlying derivative instruments and futures contracts. There is no assurance that the Fund’s investment in a trading company with leveraged exposure to certain investments and markets will enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risk, changes, and expenses of the Fund. This and other important information about the Fund are contained in the respective Prospectus or Summary Prospectus, which can be obtained by calling 1.888.643.3431. The Prospectus or Summary Prospectus should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Fund Management, 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 or 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. Please click “Terms and Conditions” to view additional disclaimers regarding use of this site.  

5307-NLD-4/24/2017  |  EASP986

The Equinox Campbell Strategy Fund trades across a diverse array of global asset classes including interest rates, equity indices, currencies, and commodities.

 

 

 

Futures diversification by sector — as of Sep 30, 2019

Allocation for each sector is calculated using the dollar value of margin posted as collateral to support trading in each sector, as a percentage of the total dollar value of margin posted to support trading in all sectors. This chart reports sector allocation for each sector as of the previous month-end. Fund holdings and sector allocations are subject to change and are not recommendations to buy or sell any security. Current and future holdings are subject to risk.

Performance attribution by sector — as of Sep 30, 2019


Attribution performance of the sectors will not equate to the total return performance of the Fund. Relative performance in a particular sector due to asset allocation or stock selection over a short period is no indication or guarantee of the Fund's performance over long time horizons. The sector allocations shown may not be representative of the Fund's current or future investments and are subject to change.

Fund exposure by futures strategy — as of Sep 30, 2019

Futures Strategy
% Exposure
program description
Info, Notes & Performance
Campbell and Company
100.0%
Other
Firm location:
Baltimore, MD  
Program name:
Managed Futures Portfolio 
Program inception:
January 1988 
Firm AUM (9/29/19):
$3.39 billion  
Principal(s):
William Andrews,
Michael Harris,
Kevin Cole,
Joseph D. Kelly

Portfolio holdings are as of the date stated, are subject to change, and should not be considered investment advice.

†Please refer to the glossary for definitions of program descriptions.

*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.

©2019 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.


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

IMPORTANT RISK DISCLOSURE

Mutual funds involve risk including possible loss of principal.

There is no assurance that the Fund will achieve its investment objective. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Many of the derivative contracts entered into by the Fund, the Subsidiary or a trading company will be privately negotiated in the over-the-counter market. These contracts also involve exposure to credit risk, since contract performance depends in part of the financial condition of the counterparty. Credit risk refers to the possibility that the issuer of the security will not be able to make principal and interest payments when due. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Derivative instruments come in many varieties and have a wide range of potential risks and rewards, and may include futures contracts, options on futures contracts, options, swaps, and forward currency exchange contracts. Derivatives typically have economic leverage inherent in their terms. The use of leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities or other investments. Furthermore, derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations.

Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. In addition to the risks generally associated with investing in securities of foreign companies, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues. In general, the price of a fixed income security falls when interest rates rise. Non-diversification is a risk, as the Funds are more vulnerable to events affecting a single issuer. Over-the-counter transactions are subject to little, if any, regulation and may be subject to the risk of counterparty default. Higher portfolio turnover may result in the fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders.

The Fund gains exposure to a managed futures program through its investment in trading companies utilizing the program. The profitability of the Fund’s investment in a trading company depends primarily on the ability of the managed futures program to anticipate price movements in the relevant markets and underlying derivative instruments and futures contracts. There is no assurance that the Fund’s investment in a trading company with leveraged exposure to certain investments and markets will enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risk, changes, and expenses of the Fund. This and other important information about the Fund are contained in the respective Prospectus or Summary Prospectus, which can be obtained by calling 1.888.643.3431. The Prospectus or Summary Prospectus should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Fund Management, 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 or 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. Please click “Terms and Conditions” to view additional disclaimers regarding use of this site.  

5307-NLD-4/24/2017  |  EASP986

Fund Performance

As of Oct 18, 2019 As of Sep 30, 2019
Annualized Rate of Return
Fund Name 1 month ytd quarter 1 year 3 years 5 years since
inception
Equinox Campbell Strategy Fund
Class A, without load (inception: Mar 8, 2013)
-2.18% 15.26% 7.33% 17.73% 3.32% 1.84% 2.89%
Equinox Campbell Strategy Fund
Class A, max load (inception: Mar 8, 2013)
-7.81% 8.63% 1.13% 10.95% 1.29% 0.64% 1.97%
As of Oct 18, 2019 As of Sep 30, 2019
Annualized Rate of Return
Fund Name 1 month ytd quarter 1 year 3 years 5 years since
inception
Equinox Campbell Strategy Fund
Class C (inception: Feb 11, 2014)
-2.14% 14.52% 7.09% 16.88% 2.52% 1.10% 3.36%
As of Oct 18, 2019 As of Sep 30, 2019
Annualized Rate of Return
Fund Name 1 month ytd quarter 1 year 3 years 5 years since
inception
Equinox Campbell Strategy Fund
Class I (inception: Mar 8, 2013)
-2.15% 15.48% 7.36% 18.05% 3.54% 2.10% 3.15%
As of Oct 18, 2019 As of Sep 30, 2019
Annualized Rate of Return
Fund Name 1 month ytd quarter 1 year 3 years 5 years since
inception
Equinox Campbell Strategy Fund
Class P (inception: Mar 8, 2013)
-2.22% 15.18% 7.23% 17.12% 3.26% 1.92% 3.01%

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

ADDITIONAL PERFORMANCE AND EXPENSE INFORMATION CAN BE FOUND BELOW.

Performance and risk versus benchmarks — as of Sep 30, 2019

  1 month ytd 2016 2017 2018 Cumulative Return Annualized Return Maximum Drawdown standard deviation Correlation
Vs. Indices
Equinox Campbell Strategy Fund
Class A, without load
-2.58% 19.78% -11.60% 3.82% -7.19% 20.59% 2.89% -26.39% 12.23% 1.00
S&P GSCI Total Return
1.75% 8.61% 11.37% 5.77% -13.82% -50.35% -10.10% -60.49% 17.95% -0.26
S&P 500 Total Return Index
1.87% 20.55% 11.96% 21.83% -4.38% 123.49% 13.01% -13.52% 11.30% 0.15
Barclay BTOP50 Index
-3.08% 9.19% -4.44% -0.82% -4.60% 8.85% 1.30% -16.11% 7.07% 0.87
Barclays Aggregate Bond Index
-0.53% 8.52% 2.65% 3.54% 0.01% 20.63% 2.89% -3.67% 3.10% 0.38

Performance and risk versus benchmarks — as of Sep 30, 2019

  1 month ytd 2016 2017 2018 Cumulative Return Annualized Return Maximum Drawdown standard deviation Correlation
Vs. Indices
Equinox Campbell Strategy Fund
Class C
-2.56% 19.02% -12.27% 3.05% -7.81% 20.44% 3.36% -28.39% 12.56% 1.00
S&P GSCI Total Return
1.75% 8.61% 11.37% 5.77% -13.82% -50.64% -11.78% -60.49% 18.86% -0.23
S&P 500 Total Return Index
1.87% 20.55% 11.96% 21.83% -4.38% 83.71% 11.40% -13.52% 11.46% 0.15
Barclay BTOP50 Index
-3.08% 9.19% -4.44% -0.82% -4.60% 10.98% 1.87% -16.11% 7.46% 0.89
Barclays Aggregate Bond Index
-0.53% 8.52% 2.65% 3.54% 0.01% 21.13% 3.46% -3.28% 3.01% 0.42

Performance and risk versus benchmarks — as of Sep 30, 2019

  1 month ytd 2016 2017 2018 Cumulative Return Annualized Return Maximum Drawdown standard deviation Correlation
Vs. Indices
Equinox Campbell Strategy Fund
Class I
-2.55% 19.95% -11.36% 4.10% -7.01% 22.60% 3.15% -25.72% 12.22% 1.00
S&P GSCI Total Return
1.75% 8.61% 11.37% 5.77% -13.82% -50.35% -10.10% -60.49% 17.95% -0.26
S&P 500 Total Return Index
1.87% 20.55% 11.96% 21.83% -4.38% 123.49% 13.01% -13.52% 11.30% 0.15
Barclay BTOP50 Index
-3.08% 9.19% -4.44% -0.82% -4.60% 8.85% 1.30% -16.11% 7.07% 0.87
Barclays Aggregate Bond Index
-0.53% 8.52% 2.65% 3.54% 0.01% 20.63% 2.89% -3.67% 3.10% 0.38

Performance and risk versus benchmarks — as of Sep 30, 2019

  1 month ytd 2016 2017 2018 Cumulative Return Annualized Return Maximum Drawdown standard deviation Correlation
Vs. Indices
Equinox Campbell Strategy Fund
Class P
-2.61% 19.69% -11.37% 4.11% -7.55% 21.51% 3.01% -26.21% 12.25% 1.00
S&P GSCI Total Return
1.75% 8.61% 11.37% 5.77% -13.82% -50.35% -10.10% -60.49% 17.95% -0.26
S&P 500 Total Return Index
1.87% 20.55% 11.96% 21.83% -4.38% 123.49% 13.01% -13.52% 11.30% 0.15
Barclay BTOP50 Index
-3.08% 9.19% -4.44% -0.82% -4.60% 8.85% 1.30% -16.11% 7.07% 0.87
Barclays Aggregate Bond Index
-0.53% 8.52% 2.65% 3.54% 0.01% 20.63% 2.89% -3.67% 3.10% 0.38

ADDITIONAL PERFORMANCE AND EXPENSE INFORMATION CAN BE FOUND BELOW.

Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.

Performance of a hypothetical $10,000 investment — Mar 2013 to Sep 2019

Equinox Campbell Strategy Fund - Class A ($12,059 as of Sep 2019)
Barclay BTOP50 Index ($10,885 as of Sep 2019)

Performance of a hypothetical $10,000 investment — Feb 2014 to Sep 2019

Equinox Campbell Strategy Fund - Class C ($12,044 as of Sep 2019)
Barclay BTOP50 Index ($11,098 as of Sep 2019)

Performance of a hypothetical $10,000 investment — Mar 2013 to Sep 2019

Equinox Campbell Strategy Fund - Class I ($12,260 as of Sep 2019)
Barclay BTOP50 Index ($10,885 as of Sep 2019)

Performance of a hypothetical $10,000 investment — Mar 2013 to Sep 2019

Equinox Campbell Strategy Fund - Class P ($12,151 as of Sep 2019)
Barclay BTOP50 Index ($10,885 as of Sep 2019)

ADDITIONAL PERFORMANCE AND EXPENSE INFORMATION CAN BE FOUND BELOW.

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

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 Adviser has contractually agreed to reduce its advisory fee and/or reimburse certain expenses of the Fund, to ensure that the Fund’s total annual operating expenses, excluding (i) taxes, (ii) interest, (iii) extraordinary items, (iv) “Acquired Fund” fees and expenses, (v) any expenses of the Subsidiary including trading company expenses, (vi) any class specific fees and expenses, and (vii) brokerage commissions, do not exceed, on an annual basis, 0.90% of the Fund’s average daily net assets. The Adviser has contractually agreed to reduce its fees and/or reimburse expenses of the Fund until at least January 31, 2017. This agreement may be terminated only by the Fund’s Board of Trustees on 60 days written notice to the Adviser. 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 (EBSAX): 1.24%/1.15%; Class C (EBSCX): 1.99%/1.90%; Class I (EBSIX): 0.99%/0.90%; Class P (EBSPX): 1.00%/0.90%

IMPORTANT RISK DISCLOSURE

Mutual funds involve risk including possible loss of principal.

There is no assurance that the Fund will achieve its investment objective. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Many of the derivative contracts entered into by the Fund, the Subsidiary or a trading company will be privately negotiated in the over-the-counter market. These contracts also involve exposure to credit risk, since contract performance depends in part of the financial condition of the counterparty. Credit risk refers to the possibility that the issuer of the security will not be able to make principal and interest payments when due. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Derivative instruments come in many varieties and have a wide range of potential risks and rewards, and may include futures contracts, options on futures contracts, options, swaps, and forward currency exchange contracts. Derivatives typically have economic leverage inherent in their terms. The use of leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities or other investments. Furthermore, derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations.

Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. In addition to the risks generally associated with investing in securities of foreign companies, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues. In general, the price of a fixed income security falls when interest rates rise. Non-diversification is a risk, as the Funds are more vulnerable to events affecting a single issuer. Over-the-counter transactions are subject to little, if any, regulation and may be subject to the risk of counterparty default. Higher portfolio turnover may result in the fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders.

The Fund gains exposure to a managed futures program through its investment in trading companies utilizing the program. The profitability of the Fund’s investment in a trading company depends primarily on the ability of the managed futures program to anticipate price movements in the relevant markets and underlying derivative instruments and futures contracts. There is no assurance that the Fund’s investment in a trading company with leveraged exposure to certain investments and markets will enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risk, changes, and expenses of the Fund. This and other important information about the Fund are contained in the respective Prospectus or Summary Prospectus, which can be obtained by calling 1-888-643-3431. The Prospectus or Summary Prospectus should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Fund Management, 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 or 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. Please click “Terms and Conditions” to view additional disclaimers regarding use of this site.  

5307-NLD-4/24/2017  |  EASP986

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.

*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.

©2019 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.


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

IMPORTANT RISK DISCLOSURE

Mutual funds involve risk including possible loss of principal.

There is no assurance that the Fund will achieve its investment objective. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Many of the derivative contracts entered into by the Fund, the Subsidiary or a trading company will be privately negotiated in the over-the-counter market. These contracts also involve exposure to credit risk, since contract performance depends in part of the financial condition of the counterparty. Credit risk refers to the possibility that the issuer of the security will not be able to make principal and interest payments when due. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Derivative instruments come in many varieties and have a wide range of potential risks and rewards, and may include futures contracts, options on futures contracts, options, swaps, and forward currency exchange contracts. Derivatives typically have economic leverage inherent in their terms. The use of leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities or other investments. Furthermore, derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations.

Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. In addition to the risks generally associated with investing in securities of foreign companies, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues. In general, the price of a fixed income security falls when interest rates rise. Non-diversification is a risk, as the Funds are more vulnerable to events affecting a single issuer. Over-the-counter transactions are subject to little, if any, regulation and may be subject to the risk of counterparty default. Higher portfolio turnover may result in the fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders.

The Fund gains exposure to a managed futures program through its investment in trading companies utilizing the program. The profitability of the Fund’s investment in a trading company depends primarily on the ability of the managed futures program to anticipate price movements in the relevant markets and underlying derivative instruments and futures contracts. There is no assurance that the Fund’s investment in a trading company with leveraged exposure to certain investments and markets will enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risk, changes, and expenses of the Fund. This and other important information about the Fund are contained in the respective Prospectus or Summary Prospectus, which can be obtained by calling 1.888.643.3431. The Prospectus or Summary Prospectus should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Fund Management, 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 or 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. Please click “Terms and Conditions” to view additional disclaimers regarding use of this site.  

5307-NLD-4/24/2017  |  EASP986

Portfolio Management Team

 

Dr. Ajay Dravid

Chief Investment Officer, Equinox Institutional Asset Management, LP

Managing Director of Portfolio Strategy, Equinox Fund Management, LLC

As Managing Director of Portfolio Strategy at Equinox Fund 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 Portfolio Management, Equinox Fund Management, LLC

Dr. Rankin is the Director of Portfolio Strategy of Equinox Fund Management.  In addition, Dr. Rankin also assists with the conception, development and implementation of new products... | MORE

*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.

©2019 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.


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

IMPORTANT RISK DISCLOSURE

Mutual funds involve risk including possible loss of principal.

There is no assurance that the Fund will achieve its investment objective. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Many of the derivative contracts entered into by the Fund, the Subsidiary or a trading company will be privately negotiated in the over-the-counter market. These contracts also involve exposure to credit risk, since contract performance depends in part of the financial condition of the counterparty. Credit risk refers to the possibility that the issuer of the security will not be able to make principal and interest payments when due. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Derivative instruments come in many varieties and have a wide range of potential risks and rewards, and may include futures contracts, options on futures contracts, options, swaps, and forward currency exchange contracts. Derivatives typically have economic leverage inherent in their terms. The use of leverage tends to exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities or other investments. Furthermore, derivative instruments and futures contracts are highly volatile and are subject to occasional rapid and substantial fluctuations.

Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. In addition to the risks generally associated with investing in securities of foreign companies, countries with emerging markets also may have relatively unstable governments, social and legal systems that do not protect shareholders, economies based on only a few industries, and securities markets that trade a small number of issues. In general, the price of a fixed income security falls when interest rates rise. Non-diversification is a risk, as the Funds are more vulnerable to events affecting a single issuer. Over-the-counter transactions are subject to little, if any, regulation and may be subject to the risk of counterparty default. Higher portfolio turnover may result in the fund paying higher levels of transaction costs and generating greater tax liabilities for shareholders.

The Fund gains exposure to a managed futures program through its investment in trading companies utilizing the program. The profitability of the Fund’s investment in a trading company depends primarily on the ability of the managed futures program to anticipate price movements in the relevant markets and underlying derivative instruments and futures contracts. There is no assurance that the Fund’s investment in a trading company with leveraged exposure to certain investments and markets will enable the Fund to achieve its investment objective.

Investors should carefully consider the investment objectives, risk, changes, and expenses of the Fund. This and other important information about the Fund are contained in the respective Prospectus or Summary Prospectus, which can be obtained by calling 1.888.643.3431. The Prospectus or Summary Prospectus should be read carefully before investing.


The Fund is distributed by Northern Lights Distributors, LLC, Member FINRA/SIPC. Equinox Group Distributors, LLC, Equinox Fund Management, 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 or 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. Please click “Terms and Conditions” to view additional disclaimers regarding use of this site.  

5307-NLD-4/24/2017  |  EASP986