Weiss Alternative Multi-Strategy Fund
Name
As of 03/28/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-2.0%
1 yr return
5.0%
3 Yr Avg Return
-2.5%
5 Yr Avg Return
1.9%
Net Assets
$226 M
Holdings in Top 10
23.0%
52 WEEK LOW AND HIGH
$8.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 4.08%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 03/28/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
WEIZX - Profile
Distributions
- YTD Total Return -2.0%
- 3 Yr Annualized Total Return -2.5%
- 5 Yr Annualized Total Return 1.9%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.11%
- Dividend Yield 1.3%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameWeiss Alternative Multi-Strategy Fund
-
Fund Family NameWeiss
-
Inception DateDec 01, 2015
-
Shares Outstanding966252
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJordi Visser
Fund Description
The Fund employs a multi-strategy approach across global equity and fixed income markets including (1) an actively managed, diversified, market neutral multi-strategy that includes equity securities, debt securities, and/or derivatives (the “Core Market Neutral Strategy”), (2) a long-only “growth” strategy generally consisting of equity securities (the “Growth Strategy”), and (3) a long-only “defensive” strategy generally consisting of debt securities (the “Defensive Strategy”). To implement its strategy, the Fund may also use derivatives, such as swaps and futures, in the Growth and Defensive Strategies. The Fund’s Growth and Defensive Strategies consist only of securities purchased to capitalize on the positive expected return of specific asset classes. The Fund’s Growth Strategy, under normal circumstances, seeks to purchase domestically traded large-, mid- or small-capitalization equity securities that offer pro-cyclical directional exposure to the U.S. market. The Fund’s Defensive Strategy typically seeks to purchase income-generating securities with the goal of providing high liquidity and capital preservation. The securities that comprise the Defensive Strategy generally include U.S. Treasuries and corporate credit securities.
The Fund’s Core Market Neutral Strategy consists of a combination of “long” securities purchased that seek to benefit from an increase in the underlying prices of such securities and “short” securities sold that seek to benefit from a decrease in the underlying prices of such securities. The aim is to generate performance through security price dispersion instead of market direction. The Fund’s Core Market Neutral Strategy may
be deployed by the Adviser’s dedicated investment professionals and may be characterized by a sector focus, a geographic definition, an event orientation or some other dominant characteristic. The underlying strategies employed, and the allocation among them, will vary over time. The common attribute of these strategies is a long/short investment approach whereby various securities or instruments are held long and others are sold short. The Adviser, therefore, applies moderate leverage (i.e., borrowed capital to increase investment exposure) to the Core Market Neutral Strategy in an effort to enhance the Fund’s absolute returns. In addition, in order to take advantage of certain opportunities in the securities markets, the Fund may engage in active and frequent trading with respect to the Core Market Neutral Strategy.
The securities that comprise the Fund’s Growth Strategy are generally equity securities that may at anytime include, but are not limited to, positions in U.S. common preferred or convertible securities of large-, mid- or small-capitalization issuers; securities of other investment companies, including exchange-traded funds (“ETFs”); depositary receipts, including American Depositary Receipts (“ADRs”), and derivatives, such as swaps and futures. The equity securities that comprise the Fund’s Core Market Neutral Strategy may at any time include positions in U.S. or non-U.S. common, preferred or convertible securities of any market capitalization throughout the world, including emerging markets countries; securities of other investment companies, including ETFs; and depositary receipts, including ADRs. The debt securities that comprise the Fund’s Defensive Strategy and Core Market Neutral Strategy may include, but are not limited to, corporate debt securities, bonds (including inflation-indexed bonds), notes or other debentures, U.S. Government and foreign government securities, ETFs, and derivatives, such as swaps and futures. The Fund may also invest in below investment grade debt securities (also referred to as high yield debt securities or “junk” bonds). In addition, the Core Market Neutral Strategy may invest in derivative instruments, including swaps, interest rate swaps, options or index options (e.g., calls and puts may be purchased or written), futures contracts, and forward contracts. The Fund’s derivative instruments are used for several purposes, including to create investment leverage; as a substitute for securities, interest rates, currencies and commodities; and/or to hedge against market movements.
In an effort to achieve its goals, the Fund may engage in active and frequent trading.
WEIZX - Performance
Return Ranking - Trailing
| Period | WEIZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -2.0% | -73.0% | 19.4% | 80.29% |
| 1 Yr | 5.0% | -9.1% | 86.9% | 33.45% |
| 3 Yr | -2.5%* | -9.5% | 16.2% | 9.64% |
| 5 Yr | 1.9%* | -4.9% | 14.4% | 12.11% |
| 10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | WEIZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 8.7% | -22.7% | 305.1% | 41.85% |
| 2022 | -18.8% | -9.8% | 27.3% | 72.58% |
| 2021 | -1.8% | -20.8% | 10.9% | 26.22% |
| 2020 | 2.9% | -12.4% | 29.4% | N/A |
| 2019 | 2.4% | -10.5% | 15.8% | N/A |
Total Return Ranking - Trailing
| Period | WEIZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -2.0% | -73.0% | 19.4% | 80.29% |
| 1 Yr | 5.0% | -13.4% | 86.9% | 31.27% |
| 3 Yr | -2.5%* | -9.5% | 16.2% | 8.84% |
| 5 Yr | 1.9%* | -5.3% | 14.4% | 11.66% |
| 10 Yr | N/A* | -0.9% | 7.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | WEIZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 10.1% | -22.7% | 305.1% | 41.85% |
| 2022 | -18.8% | -9.8% | 27.3% | 72.98% |
| 2021 | 4.8% | -20.8% | 10.9% | 38.67% |
| 2020 | 10.9% | -8.4% | 29.4% | N/A |
| 2019 | 14.1% | -10.2% | 18.0% | N/A |
NAV & Total Return History
WEIZX - Holdings
Concentration Analysis
| WEIZX | Category Low | Category High | WEIZX % Rank | |
|---|---|---|---|---|
| Net Assets | 226 M | 1.5 M | 5.01 B | 53.87% |
| Number of Holdings | 1327 | 4 | 4478 | 14.49% |
| Net Assets in Top 10 | 50.2 M | -398 M | 2.55 B | 26.86% |
| Weighting of Top 10 | 23.03% | 13.1% | 100.0% | 10.41% |
Top 10 Holdings
- iShares Russell 2000 ETF 7.50%
- Fidelity Government Portfolio 3.39%
- Boston Properties Inc 2.10%
- SBA Communications Corp 1.94%
- Rexford Industrial Realty Inc 1.91%
- Americold Realty Trust Inc 1.90%
- Cousins Properties Inc 1.17%
- Ventas Inc 1.11%
- CubeSmart 1.04%
- Coca-Cola Co/The 0.98%
Asset Allocation
| Weighting | Return Low | Return High | WEIZX % Rank | |
|---|---|---|---|---|
| Cash | 90.87% | -6278.21% | 410.43% | 87.99% |
| Stocks | 7.40% | -3.75% | 97.95% | 56.89% |
| Other | 1.73% | -21.53% | 148.54% | 61.48% |
| Convertible Bonds | 0.65% | 0.00% | 87.92% | 30.39% |
| Bonds | 0.00% | -326.45% | 6347.80% | 8.83% |
| Preferred Stocks | 0.00% | -0.12% | 46.97% | 41.70% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | WEIZX % Rank | |
|---|---|---|---|---|
| Technology | 25.37% | 0.00% | 39.58% | 11.81% |
| Industrials | 11.04% | 0.00% | 21.45% | 33.07% |
| Financial Services | 10.73% | 0.00% | 59.28% | 78.35% |
| Consumer Cyclical | 10.11% | 0.00% | 29.09% | 79.53% |
| Real Estate | 10.06% | 0.00% | 51.26% | 7.09% |
| Healthcare | 9.21% | 0.00% | 45.63% | 89.37% |
| Communication Services | 6.71% | 0.00% | 21.78% | 56.69% |
| Consumer Defense | 6.70% | 0.00% | 13.62% | 65.75% |
| Energy | 6.27% | 0.00% | 100.00% | 9.84% |
| Basic Materials | 2.39% | 0.00% | 27.46% | 71.65% |
| Utilities | 1.42% | 0.00% | 9.23% | 94.49% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | WEIZX % Rank | |
|---|---|---|---|---|
| US | 6.41% | -8.85% | 91.88% | 45.58% |
| Non US | 0.99% | -19.62% | 42.11% | 66.43% |
WEIZX - Expenses
Operational Fees
| WEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 4.08% | 0.29% | 31.15% | 6.83% |
| Management Fee | 1.50% | 0.00% | 2.50% | 84.45% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 56.08% |
| Administrative Fee | N/A | 0.01% | 0.30% | N/A |
Sales Fees
| WEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | 78.79% |
Trading Fees
| WEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 100.00% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| WEIZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 491.00% | 98.06% |
WEIZX - Distributions
Dividend Yield Analysis
| WEIZX | Category Low | Category High | WEIZX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.34% | 0.00% | 4.56% | 70.67% |
Dividend Distribution Analysis
| WEIZX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| WEIZX | Category Low | Category High | WEIZX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.11% | -2.51% | 6.83% | 85.61% |
Capital Gain Distribution Analysis
| WEIZX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 22, 2024 | $0.616 | OrdinaryDividend |
| Dec 20, 2023 | $0.111 | OrdinaryDividend |
| Dec 21, 2021 | $0.683 | OrdinaryDividend |
| Dec 20, 2018 | $0.205 | OrdinaryDividend |
WEIZX - Fund Manager Analysis
Managers
Jordi Visser
Start Date
Tenure
Tenure Rank
Dec 01, 2015
6.5
6.5%
Jordi Visser (Chief Investment Officer) joined Weiss Multi-Strategy Advisers LLC in 2005 and is the chief investment officer as well as portfolio manager for the Domestic Macro strategy. Prior to that, he was the founding managing partner of Anchor Point Asset Management, a global macro fund, where he was responsible for the investment process, investment decisions and risk management. A former managing director at Morgan Stanley, Mr. Visser traded various global equity derivative books for nine years after spending two initial years as a controller. He opened the Morgan Stanley office in Sao Paulo, Brazil, and managed the derivative sales and trading effort there during the 1997–1998 emerging market crisis. Upon his return to New York in 1999, he managed a multi-billion dollar notional index option portfolio and was a member of the Equity Division Risk Committee. He is a cum laude graduate of Manhattan College.
Edward Olanow
Start Date
Tenure
Tenure Rank
Dec 01, 2015
6.5
6.5%
Edward Olanow, Vice President, joined the Weiss Multi-Strategy Advisers in 2005. Currently, he is a member of the portfolio management team. Prior to that, he worked as a member of the Macro strategy team for nine years and was responsible for fundamental and quantitative research, as well as algorithmic trade management. Prior to joining Weiss , Mr. Olanow spent two years at Anchor Point Asset Management as a quantitative analyst. Mr. Olanow began his investment career as a research analyst with Citibank Global Asset Management. He holds a BA in Economics from Emory University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 17.37 | 4.48 | 1.67 |