Aspiriant Risk-Managed Global Equity Fund
The Aspiriant Risk-Managed Global Equity Fund seeks to achieve long-term capital appreciation while considering federal tax implications of investment decisions.
The Aspiriant Risk-Managed Global Equity Fund is one fund created to address two guiding principles of our public equity philosophy using four strategies.
Guiding Principle #1. You must stay invested in the market for the long term.
Guiding Principle #2. You do not need to protect your portfolio against every loss; we believe we can have a large positive impact on long-term returns if portfolios are protected against very large, infrequent losses.
Strategy #1. Growth: Achieve growth through long-term capital appreciation.
Strategy #2. Income: Generate additional income and reduce volatility through covered call writing.
Strategy #3. Protection: Protect the value of assets against periods of severe market stress through tail risk management.
Strategy #4. Volatility Reduction: High quality stocks tend to have lower volatility.
This innovative structure offers a comprehensive global public equity solution previously unavailable to individual investors at a reasonable cost.
Under normal conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in equity securities. The Fund also will invest in securities that provide exposure to equity securities (for example, rights, warrants, futures contracts, swaps, and equity options). The Fund will hold a broad and diverse group of equity securities of companies in countries with developed and emerging markets with greater emphasis on small capitalization and value companies. The Fund may invest in companies of any market capitalization. The Fund may also engage in “tail risk” hedging using financial derivatives (including options, swaps, options on swaps, both short and/or long positions) that are expected to increase in value during periods of severe market stress (“tail events”). In addition, the Fund may invest in other derivative instruments to seek return, hedge against fluctuations in securities prices, interest rates or currency exchange rates, as a substitute for the purchase or sale of securities or currencies, or for investment purposes to increase its economic exposure to a particular security, currency or index in a cost effective manner.
Please consider the fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus that contains this and other information about the Fund is available by calling 1.877.997.9971 and should be read carefully prior to investing.
An investment in the Fund is subject to risks and you could lose money on your investment in the Fund. The principal risks of investing in the Fund include, but are not limited to, investing in smaller companies with limited resources and the use of predictive models. A value oriented investing style may go in and out of favor which may cause the Fund to sometimes underperform other equity funds.
Foreign securities have additional risks including currency rate changes, political and economic instability, less regulation and market liquidity. Investments in emerging markets involve even greater risks.
The Fund may invest in derivatives which can be highly volatile, illiquid, difficult to value, and changes in the value of a derivative may not correlate with the underlying securities or other securities held directly by the Fund. Such risks include losses which, as a result of leverage, can be substantially greater than the derivatives’ original cost. There is also a possibility that derivatives may not perform as intended, which can reduce opportunity for gain or result in losses by offsetting positive returns in other securities the Fund owns.
The adviser and sub-advisers may be unable to construct the Fund’s investment portfolio such that the intended federal tax implications, when making investment decisions with respect to individual securities, are achieved.
Aspiriant Risk-Managed Global Equity Fund distributed by UMB Distribution Services, LLC.
(as of 9/1/2015)
(as of 7/31/2015)
Number of Equity Holdings
(as of 6/30/2015)