ASTON/Anchor Capital Enhanced Equity Fund
|Share Class Inception||1/15/2008||3/3/2010|
|Gross Exp Ratio (%)||1.20||0.95|
|Net Exp Ratio (%)||1.19||0.94|
|30 Day Yield (07/31/15)||2.03||2.28|
|NAV Change (%)||0.44||0.44|
|Benchmark||S&P 500 Index|
|Morningstar Category||Long/Short Equity|
Overall Morningstar Rating™
Among 179 Long/Short Equity funds derived from a weighted average of the Fund’s 3-, 5- and 10-year risk-adjusted returns as of 7/31/15.
Ronald L. Altman
Ronald L. Altman
Mr. Altman is a Senior Vice President at Anchor Capital Advisors, LLC, and has been the Lead Portfolio Manager of the Fund since its January 2008 inception. Prior to Anchor Capital, he was a portfolio manager at M.D. Sass Investors Services, Inc. and a Partner and portfolio manager at MB Investment Partners, Inc. Mr. Altman has more than 40 years of experience in the investment research and money management business in various positions.
Mr. Neves is an Assistant Vice President at Anchor Capital Advisors, LLC, and has been a Co-Portfolio Manager of the Fund since February 2014. Prior to joining Anchor Capital as a trader for the enhanced equity strategy in June 2012, he was a European institutional equity salesperson for Canaccord Genuity. Previously, he had worked alongside Mr. Altman on the enhanced equity strategy while at MB Investment Partners, Inc. Mr. Neves received his B.S. in Business Administration from Northeastern University in 2005.
Mr. Watson is a Senior Vice President of Anchor Capital Advisors, LLC, and has been a Co-Portfolio Manager of the Fund since February 2014. He has been with Anchor Capital since 2001 as an analyst for the firm’s various strategies. He received his B.S. in Industrial Engineering from Lehigh University in 1985, and his MBA in Finance from the University of California in 2000.
The ASTON/Anchor Capital Enhanced Equity Fund seeks total return by investing in dividend-paying stocks and writing covered call options on a substantial portion of the underlying portfolio.
The Fund seeks total return through a combination of a high level of current income and capital appreciation.
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By selling covered call options, the Fund limits its opportunity to profit from an increase in the price of the underlying stock above the exercise price, but continues to bear the risk of a decline in the value of the underlying stock. A liquid market may not exist for options held by the Fund. If the Fund is not able to close out an options transaction, it will not be able to sell the underlying security until the option expires or is exercised. While the Fund receives premiums for writing the call options, the price it realizes from the exercise of an option could be substantially below a stock's current market price. Premiums from the Fund's sale of call options typically will result in short-term capital gain taxes, making it ill-suited for investors seeking a tax efficient investment.
|Fund Stats (as of 6/30/15)||N Shares||I Shares|
|Origin Of Information||Baseline||Baseline|
|Total Net Assets (9/2/15)||$87,166,598.50||$92,578,797.81|
|Alpha (3 yr.)||-2.91||-2.61|
|Beta (3 yr.)||0.53||0.53|
|R-Squared (3 yr.)||68.43||67.44|
|Standard Dev (3 yr.)||5.51||5.51|
|Sharpe Ratio (3 yr.)||1.05||1.10|
|Current Wtd Average P/E (trailing)||18.42||18.42|
|Current Wtd Average P/B (trailing)||2.12||2.12|
|Median Mkt Cap ($Mil)||25,635||25,635|
|Average Wtd Coupon||N/A||N/A|
|Sector Breakdown (as of 7/31/15)|
|Cash Equivalents & Other||3.02%|
|Top 10 Holdings (as of 7/31/15)|
|Company||Ticker||CUSIP||Number of Shares||Market Value||% of Net Assets|
|HARTFORD FINANCIAL SERVICES GROUP INC/TH||HIG||416515104||170,000||$8,083,500.00||4.28%|
|LYONDELLBASELL INDUSTRIES NV||LYB||B3SPXZ3||85,000||$7,975,550.00||4.22%|
|CISCO SYSTEMS INC||CSCO||17275R102||267,700||$7,608,034.00||4.02%|
|DEERE & CO||DE||244199105||80,000||$7,565,600.00||4.00%|
|REPUBLIC SERVICES INC||RSG||760759100||175,000||$7,442,750.00||3.94%|
|FORD MOTOR CO||F||345370860||500,000||$7,415,000.00||3.92%|
|QUEST DIAGNOSTICS INC||DGX||74834L100||100,000||$7,381,000.00||3.90%|
|GENERAL MOTORS CO||GM||37045V100||225,000||$7,089,750.00||3.75%|
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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