Multi-Strategy Total Return Fund

The fund uses a highly flexible investment approach in an effort to provide strong risk-adjusted returns, pursue positive returns through various market environments, and maintain low overall volatility. The fund has broad discretion in seeking investments and utilizes a wide range of strategies to invest across a variety of asset classes including stocks, fixed-income securities, and derivatives. The fund primarily seeks exposure to the following strategies, relying on both fundamental and quantitative research, although additional strategies may be employed at any time: Macro and Absolute Return; Fixed Income Absolute Return; Equity Research Long/Short; Quantitative Equity Long/Short; Volatility Relative Value; and Style Premia.

The fund is subject to risk, including possible loss of principal. Multi-Strategy Total Return Fund’s performance is also subject risks associated with international and fixed income investing, short sales, derivatives, options, swaps, forward and futures contracts, leverage, and non-diversification risks, which may result in greater price fluctuation than the overall stock market.

Morningstar (Category)

Morningstar
(Overall Rating)1

Multialternative
  (131 funds)

Data as of 12/31/2021

Data as of 12/31/2021

Fund Manager Tenure2

Net Assets3
(USD)

3yrs
$416.5m

Data as of 12/31/2021

Data as of 12/31/2021

Price
(USD)

Daily Price Change

$9.95
$0.00

Data as of 01/21/2022

Data as of 01/21/2022

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Richard de los Reyes
Richard de los Reyes, Co-Portfolio Manager

Rick de los Reyes is a portfolio manager for the Macro and Absolute Return Strategies and co-portfolio manager for the Multi-Strategy Total Return Fund in the Multi-Asset Division. Rick also is a m...

Stefan Hubrich, CFA, Ph.D.
Stefan Hubrich, CFA, Ph.D., Co-Portfolio Manager

Stefan Hubrich is a director of research in the Multi-Asset Division. He is a co-portfolio manager of the Multi-Strategy Total Return Strategy. He is a member of the Investment Advisory Committees ...

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Strategy

Investment Objective

The fund seeks strong long-term risk adjusted returns.

US Mutual Fund vendor indices disclaimers

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

View platform information
1

© 2021 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

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