The Fund has been positive since inception (3/1/2017) of this year, however, was down slightly in Q4. The long positions contributed positively for the quarter and the fund’s performance was partially limited by a negative contribution from the short book and a mixed combination from the options portfolio.

The Fund returned -3.10%* for Q3 and is up 10.02%* inception (3/1/2017) to date. The Fund’s performance was partially limited by a negative contribution from the short book as well as a negative contribution from the options book. The long positions contributed positively for the quarter. (*Returns are gross of any incentive allocation accrued to date if applicable but net of all other fees and expenses)