AXS All Terrain Opportunity Fund

Class I: TERIX

Fund Overview

A core liquid multi-alternative strategy that seeks capital appreciation with positive returns in all market conditions by investing opportunistically across asset classes and strategies, including equities, fixed income, options, commodities and more.

Investor Benefits

Invests in any asset class where opportunities for growth and capital preservation are identified

Uses a tactical risk-on/risk-off process to shift allocations based on economic and market indicators

Actively managed by an experienced team with the agility to invest long or short to seek risk-controlled growth

Fund Details

I Shares

Ticker: TERIX
CUSIP: 46141T406
Inception Date: 11/3/2014
Distribution Frequency: Quarterly
Management Fees: 1.40%
Total Operating Expense: 2.46% 
Net Expense*: 2.01%

*The Fund’s investment advisor has contractually agreed to reduce its fees and/or absorb expenses of the Fund, to ensure that the Fund’s total annual operating expenses on an annual basis do not exceed 1.60% of the Fund’s average daily net assets, effective until January 31, 2023.

The investment objective is to seek capital appreciation with positive returns in all market conditions. There can be no assurance that the Fund will achieve its objective or that any strategy (risk management or otherwise) will be successful. Stock and bond values fluctuate in price so the value of your investment can go down depending on market conditions. International investing involves special risks including, but not limited to political risks, currency fluctuations, illiquidity and volatility. These risks may be heightened for investments in emerging markets. Derivatives entail risks relating to liquidity, leverage and credit that may reduce returns and increase volatility.

The value of your investment depends on the judgment of the Fund’s advisor about the quality, relative yield, value or market trends affecting a particular security, industry, sector or region, which may prove to be incorrect. Purchasing and writing put and call options are highly specialized activities and entail greater than ordinary investment risks. The Fund’s use of futures contracts (and related options) expose the Fund to leverage and tracking risks because a small investment in futures contracts may produce large losses and futures contracts may not be perfect substitutes for securities.

Mortgage-backed securities represent interests in “pools” of mortgages. Mortgage-backed securities are subject to “prepayment risk” (the risk that borrowers will repay a loan more quickly in periods of falling interest rates) and “extension risk” (the risk that borrowers will repay a loan more slowly in periods of rising interest rates). High yield bonds are debt securities rated below investment grade (often called “junk bonds”). Junk bonds are speculative, involve greater risks of default, downgrade or price declines and are more volatile and tend to be less liquid than investment-grade securities.