The fund seeks capital appreciation by investing in companies across any size in the United States.

The investment process is designed to highlight an activist situation from a list of companies in the benchmark index.

The manager defines an activist situation as one where an investor holds more than 5% of a company’s shares and either has a history of activist investing and/or has a publicly disclosed catalyst for ch More

The fund seeks capital appreciation by investing in companies across any size in the United States.

The investment process is designed to highlight an activist situation from a list of companies in the benchmark index.

The manager defines an activist situation as one where an investor holds more than 5% of a company’s shares and either has a history of activist investing and/or has a publicly disclosed catalyst for change such as seeking Board seats, improving operations and/or corporate governance practices, approving a merger, spinning-off an operating division or selling a significant amount of company assets.

Then the investment team relies on fundamental analysis to identify companies where an activist investor is involved.

Next, the research team derives its activist information primarily from legally-mandated filings known as 13D filings.

Then the team reviews all material activist situations and makes investment decisions based on its knowledge of the activist investor involved, the industry, the shareholder base, the activist’s average cost, its strategy.

In addition, the team also evaluates and considers environmental, social and governance factors, with a strong emphasis on corporate governance.

The fund is a concentrated and actively managed portfolio of approximately 30 stocks that represent the best Activist Catalysts in the market.

The portfolio is constructed where different weights will be given to each investment depending on the type of activist intent stated, the activist and sector involved, and the manager’s determination as to the chance of activist success.

Generally, a significant majority of portfolio positions will have a shareholder representative on the board of directors who advocates for best-in-class corporate governance practices and a shareholder focused mentality.

The team looks to create the purest and most comprehensive exposure to Shareholder Activism in a diversified, low cost and liquid structure.

The fund is non-diversified, which means that it may invest in fewer issuers than a diversified fund.