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Relative Value Fund

JRVIX - I SHARES | JRSVX - R6 SHARES

Overview

AT A GLANCE
  • $6.75 M

    Portfolio Assets 6-23-2021

  • $10.35 NAV 6-23-2021
  • 3.27%

    Gross Expenses1

  • 2.31%*

    Net Expenses1

  • 470258583

    CUSIP

  • 8/18/2017

    Inception Date

*The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses until at least March 19, 2023 for I Shares to ensure that net annual operating expenses will not exceed 1.48%, subject to possible recoupment from the Fund in future years.

Overall Morningstar rating as of March 31, 2021. Based on risk-adjusted returns. Category: Market Neutral out of 91 funds.3

$868.3 Billion Market Capitalization

That’s the market cap of the HFRI Relative Value Total Index, which represents 27% of the total hedge fund capital as of 9/30/19.

Seeks To Exploit Performance Variances

Strategy focuses on finding price differentials between related financial instruments and taking long positions where outperformance is projected and short positions where underperformance is anticipate.

Consistent Strategy Performance

Companies with improving levels of financial productivity relative to their industry outperform, whilst companies with deteriorating levels of financial productivity tend to underperform.2

DISTINCT, PROPRIETARY DYNAMIC BETA SYSTEM

We have developed a proprietary, complex system that seeks to follow the dynamically changing hedge fund universe.

 

FUND OBJECTIVE

  • Seeks attractive long-term risk-adjusted returns relative to traditional financial market indices.
  • Attempts to provide investors with a relative value alternative allocation vehicle by attempting to identify and capitalize on valuation discrepancies between related financial instruments rather than on the direction of the general market.

FUND STRATEGY

  • Seeks to track the global universe of more than 270 relative value funds.
  • Employs proprietary techniques and models to evaluate the drivers of performance of private funds that utilize relative value strategies.
  • Invests in a variety of asset classes, such as, among others, asset-backed master limited partnership (MLP), real estate, convertible arbitrage, corporate and sovereign strategies, as well as volatility investments strategies.
  • Seeks to gain exposure to these asset classes primarily through exchange-traded products such as exchange-traded notes (“ETNs”), exchange-traded funds (“ETFs”), and mutual funds, although the Portfolio may invest directly in currencies, equities, and fixed income securities.
  • May also seek exposure to volatility as an asset class by attempting to capitalize on discrepancies between implied (estimated) level of volatility on specific instruments and actual volatility levels.