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Aston/Lake Partners LASSO Alternatives Fund

 NI
CUSIP00080Y68600080Y728
TickerALSNXALSOX
Share Class Inception3/3/20104/1/2009
Gross Exp Ratio (%)19.9419.69
Net Exp Ratio (%)1.451.2
NAV11.4211.43
% Change 0.44 0.44
Benchmark HFRX Equity Hedge Index
Morningstar Category Long-Short
Regarding Net Expense Ratio: The Adviser contractually waived management fees and/or reimbursed expenses through February 28, 2011. The Fund’s net expense ratio including acquired fund fees and expenses is 2.98% and 2.73% respectively.

Fund Resources

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Portfolio Managers

Frederick C. Lake
Frederick C. Lake

Frederick C. Lake

Frederick C. Lake

Mr. Lake is the Co-Chairman and Treasurer of Lake Partners, which he co-founded in 1989. He has more than 25 years of experience in the investment industry, and oversees the firm's research on mutual funds—especially those that utilize long/short strategies. In 2003, he was invited to speak at the SEC's Hedge Fund Roundtable, commenting on the convergence of mutual funds and hedge funds. He has been quoted in The Wall Street Journal, Barron's, The Financial Times, Investors Business Daily, Business Week, Fortune and Bloomberg, among other publications. Mr. Lake began his investment career with Prudential Securities after earning a Bachelor's degree cum laude from Harvard University in 1980.

Ronald A. Lake
Ronald A. Lake

Ronald A. Lake

Ronald A. Lake

Mr. Lake is the Co-Chairman and President of Lake Partners, which he co-founded in 1989. He has more than 27 years of investment experience, and is responsible for asset allocation, investment strategy, and overseeing multi-manager programs that integrate both traditional and alternative investments. He is also the editor-in-chief of Evaluating and Implementing Hedge Fund Strategies, which is in its third edition. Prior to the formation of Lake Partners, Mr. Lake was with the investment consulting firms of Rogers, Casey & Barksdale and Tremont Partners, where he was involved with manager and investment research in non-traditional areas. Mr. Lake received a Bachelor's degree magna cum laude from Harvard University in 1976 and a Master's degree in public policy from Harvard in 1978.

  1. Overview
  2. Holdings
  3. Performance
  4. Quarterly Commentary

Investment Strategy

The Aston/Lake Partners LASSO Alternatives Fund is a Fund-of-Funds that uses the proprietary LASSO® (Long and Short Strategic Opportunities) strategy. LASSO is intended to produce long-term total returns with lower volatility and/or reduced correlations compared with traditional equity and fixed-income strategies across the full market cycle.

If you are an investment professional, login or register here for access to Aston’s research content. Discover the unique qualities that differentiate our Subadvisers at both the firm and strategy levels.  

Objective

The Fund seeks to provide long-term total return with reduced correlation to the conventional stock and bond markets.

Note: The use of derivative instruments, short selling, leveraging and investing in commodities, commodity-linked and non-U.S. companies involve significant risks and losses may occur. By investing in a fund-of-funds you will incur the expense and risks of the fund in addition to those of the underlying funds in the portfolio.

Fund Stats (as of 6/30/10) NI
Origin Of InformationBaselineBaseline
Sales LoadNoneNone
Total Fund Assets16,109,252.4816,109,252.48
Turnover151151
Minimum Investment2,500100,000
Sector Breakdown (as of 7/31/10)
Long/short Strategies		41.94%
Hedged Fixed Income		38.64%
Arbitrage		14.88%
Cash Equivalents & Other		4.54%
Top Ten Holdings (as of 7/31/10)
CompanyTickerCUSIPNumber of SharesMarket Value% of Net Assets
WEITZ-PART 3 OPP WPOPX 94904P708 230,449 $2,316,017.83 12.41%
EATON VAN-G MA-A EAGMX 277923736 179,364 $1,854,631.50 9.94%
FPA-CRESCNT-INST FPACX 30254T759 75,181 $1,853,213.30 9.93%
WAS-1ST SRC L/S FMLSX 936793835 131,521 $1,480,930.98 7.93%
METRO WEST-H/Y-I MWHIX 592905848 133,622 $1,391,005.18 7.45%
ARBITRAGE-ARB-I ARBNX 03875R205 107,609 $1,390,316.03 7.45%
MERGER FUND MERFX 589509108 87,896 $1,387,000.43 7.43%
DRIEHAUS-ACT INC LCMAX 262028855 125,839 $1,384,236.28 7.42%
MAINSTAY-HY-O-A MYHAX 27885C445 119,936 $1,381,673.33 7.40%
ROYCE-SELECT-INV RYSFX. 780905766 47,648 $831,942.71 4.46%
Past performance does not guarantee future results. Investment return and principal value of mutual funds will vary with market conditions, so that shares, when redeemed, may be worth more or less than their original cost.

As the fund is actively managed, the securities as presented may not represent the current or future composition of the portfolio.

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