AXS Alternative Value Fund

Institutional: COGVX     Investor: COGLX

ALERT: The AXS Alternative Value Fund was terminated and liquidated as of September 27, 2024 and is closed to all new investment. See the prospectus for more details.

Fund Overview

A mutual fund that employs a proprietary "leveraged low beta" methodology to invest in companies in the S&P 500 whose intrinsic share value has diverged significantly from its current market price.

Fund Details

Institutional Shares

Ticker: COGVX
CUSIP: 46141T257
Inception Date: 10/3/2016
Distribution Frequency: Annual
Management Fees: 0.65%
Total Operating Expense: 3.07% 
Net Expense*: 2.43%

Investor Shares

Ticker: COGLX
CUSIP: 46141T240
Inception Date: 10/3/2016
Distribution Frequency: Annual
Management Fees: 0.65%
Total Operating Expense: 3.32% 
Net Expense*: 2.68%

*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 (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization and extraordinary expenses such as litigation expenses) do not exceed 0.85% for Institutional Class shares and 1.10% for Investor Class shares of the average daily net assets, effective until 1/31/2025.

There is no assurance that the Fund will achieve its investment objective.

The value of the Fund’s assets will fluctuate as the equity market fluctuates. Different investment styles tend to shift in and out of favor depending upon market and economic conditions, as well as investor sentiment. A fund may outperform or underperform other funds that employ a different investment style, and the stocks selected by the fund manager may not increase in value as predicted.

Value investing is subject to the risk that the market will not recognize a security’s inherent value for a long time or at all, or that a stock judged to be undervalued may actually be appropriately priced or overvalued. The prices of foreign securities may be more volatile than the prices of securities of U.S. issuers because of economic and social conditions abroad, political developments, and changes in the regulatory environments of foreign countries.

Alpha is the risk-adjusted outperformance or underperformance of the portfolio relative to the stock market. Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Leverage is an investment strategy of using borrowed money, specifically, the use of various financial instruments or borrowed capital, to increase the potential return of an investment.