Schooner Hedged Alternative Income Fund
Daily Performance
| Fund | NAV 11.2.16 | Change |
| SHAAX | 44.93 | -0.09% |
| SHAIX | 45.04 | -0.09% |
Fund Performance Since Inception
Click here to download the Growth of $10,000 Since Inception Chart
Inception: SHAIX 11.28.14*, SHAAX 9.28.15
| QTR 9.30.16 |
Cumulative 9.30.16 |
Annualized 9.30.16 |
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| YTD | 1YR | Since Inception* | 1YR | Since Inception* | |
| SHAIX |
-2.83% | -2.68% | 12.30% | -2.68% | 6.51% |
| SHAAX** |
-3.01% | -2.88% | 11.83% | -2.88% | 6.29% |
| S&P 500 Index | 7.84% | 15.43% | 9.05% | 15.43% | 4.82% |
| Barclays US Aggregate Bond Index |
5.80% | 5.19% | 6.47% | 5.19% | 3.47% |
| w/ 3.50% Sales Charge |
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| SHAAX** | -6.40% | -6.28% | 7.92% | -6.28% | 4.23% |
Net Expense Ratio SHAIX 1.39%, SHAAX 1.64% Gross Expense Ratio 1.57%, 1.88%. The Advisor has agreed to waive its management fees and/or reimburse Fund expenses to ensure that Total Annual Fund Operating Expenses (exclusive of interest, acquired fund fees and expenses, leverage (i.e. any expenses incurred in connection with borrowings made by the Fund) and tax expenses, dividends and interest expenses on short positions, brokerage commissions, and extraordinary expenses) do not exceed SHAIX 1.39%, and SHAAX 1.64% of the Fund’s average annual net assets through at least February 1, 2017.
**The inception date of SHAIX was November 28, 2014, while the inception date of the SHAAX was September 28, 2015. The returns of SHAAX shown for periods prior to the inception date reflects the returns of SHAIX.
For performance data current to the most recent month end, contact your financial professional or call Schooner Funds at 1-866-724-5997. The performance data contained within this material represents past performance, which does not guarantee future results. Returns with sales charges reflect the deduction of the current maximum initial sales charge of 3.50% for Class A. Returns without sales charges do not reflect the current maximum sales charges. Had the sales charged been included, the returns would have been lower. The return and principal value of an investment will fluctuate, so that shares, when redeemed, may be worth more or less than the original cost. The Fund’s current performance may be higher or lower and is subject to substantial changes. Performance figures assume that all distributions are reinvested. Total return is based on net change in NAV assuming reinvestment of distributions. Performance reflects a fee waiver in effect. In the absence of such waiver, returns would be reduced.
The S&P 500 Index is a broad based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. It is not possible to invest directly in an index.
The Barclays U.S. Aggregate Bond Index is used to represent investment grade bonds being traded in United States.
Click here for Schooner Hedged Alternative Income Fund Summary Prospectus.
Mutual fund investing involves risk; principal loss is possible. Options may be more volatile than investments directly in the underlying securities, involve additional costs and may involve a small initial investment relative to the risk assumed. The Fund’s investments in options could include the loss of the entire premium and the value of the underlying asset. The Fund’s investment in derivative instruments (“Derivatives”), including options, may be more volatile than investments directly in the underlying securities, involve additional costs and may involve a small initial investment relative to the risk assumed. The Fund’s investments in Derivatives could create exposure greater than the value of securities in the Fund’s portfolio. Derivatives investments may create economic leverage and can result in losses to the Fund that exceed the original amount invested. Small-, mid- and micro-cap companies may not have the management experience, financial resources, product diversification and competitive strengths of large-cap companies and, therefore, their securities tend to be more volatile than the securities of larger, more established companies, making them less liquid than other securities. The value of put options on ETFs sold by the Fund is based on the value of the ETFs underlying the options. The price of an ETF can fluctuate within a wide range, and the value of an option on an ETF may decrease if the prices of the securities owned by the ETF go down. An index ETF may not replicate the performance of a benchmark index it seeks to track. In addition, an ETF is subject to the risk that the market price of the ETF’s shares may trade at a discount to its NAV or an active trading market for its shares may not develop or be maintained. Trading of an ETF’s shares may be halted, during which time an option may be exercised, exposing the Fund to the risks of directly investing in an ETF’s shares. A decline in the value of an investment in a single issuer could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio. There can be no assurance that the Fund will grow to or maintain an economically viable size.
The Schooner Funds are distributed by Quasar Distributors, LLC.