Overview

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Investment Process

12 Risk Premia created to capture
Value, Carry, and Momentum factor risk premia across
Equities, Fixed Income, Commodities & Currencies

Historical Returns (%) as of Sep 30, 2019

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. The share class has no sales charge.
 

Fund Facts as of Sep 30, 2019

Institutional Class Inception 08/01/2018
Investment Objective Total return
Total Net Assets $24.8M
Minimum Investment $50000
Expense Ratio (Gross)3 1.16%
Expense Ratio (Net)3,4 0.99%
CUSIP 27830N850
 

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investing in or having exposure to momentum, value and carry risk premia strategies involves the risk that there may be periods during which the investment performance of the Fund while using the risk premia strategies may suffer. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage may cause the Fund to be more volatile than if it had not been leveraged, as certain types of leverage may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. The Fund will incur a loss as a result of a short sale if the price of the security sold short increases in value between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Performance

Historical Returns (%) as of Sep 30, 2019

Past performance is no guarantee of future results. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) with all distributions reinvested. Returns for other classes of shares offered by the Fund are different. Performance less than or equal to one year is cumulative. The share class has no sales charge.
 

Fund Facts

Expense Ratio (Gross)3 1.16%
Expense Ratio (Net)3,4 0.99%
Institutional Class Inception 08/01/2018
Distribution Frequency Annually
 

NAV History

Date NAV NAV Change
Oct 18, 2019 $9.86 -$0.05
Oct 17, 2019 $9.91 $0.01
Oct 16, 2019 $9.90 $0.02
Oct 15, 2019 $9.88 $0.00
Oct 14, 2019 $9.88 -$0.07
Oct 11, 2019 $9.95 $0.06
Oct 10, 2019 $9.89 $0.11
Oct 09, 2019 $9.78 $0.00
Oct 08, 2019 $9.78 -$0.09
Oct 07, 2019 $9.87 $0.06
 

Distribution History6

Ex-Date Distribution Reinvest NAV
Dec 11, 2018 $0.08460 $9.09
No records in this table indicates that there has not been a distribution greater than .0001 within the past 3 years.
Fund prospectus
 

Capital Gain History6

Ex-Date Short-Term Long-Term Reinvest NAV
No records in this table indicates that there has not been a capital gain greater than .0001 within the past 3 years.
Fund prospectus

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investing in or having exposure to momentum, value and carry risk premia strategies involves the risk that there may be periods during which the investment performance of the Fund while using the risk premia strategies may suffer. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage may cause the Fund to be more volatile than if it had not been leveraged, as certain types of leverage may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. The Fund will incur a loss as a result of a short sale if the price of the security sold short increases in value between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Portfolio

 

Fund Holdings (%)7,8 as of Aug 31, 2019

Holding % of Net Assets
United States Treasury Bill 51.85%
Euro-BTP Future Sep19 46.61%
United States Treasury Note/Bond 20.42%
FTSE 100 IDX FUT Sep19 17.12%
C$ CURRENCY FUT Sep19 14.41%
SPI 200 FUTURES Sep19 11.06%
SWEDISH KRONA FUT Sep19 10.59%
NORWEGIAN KRONE Sep19 10.53%
AUDUSD Crncy Fut Sep19 10.49%
NEW ZEALAND $ FUT Sep19 10.32%
View All

Portfolio profile subject to change due to active management. Percentages may not total 100% due to rounding.

About Risk: 

The value of investments held by the Fund may increase or decrease in response to economic, and financial events (whether real, expected or perceived) in the U.S. and global markets. Investing in or having exposure to momentum, value and carry risk premia strategies involves the risk that there may be periods during which the investment performance of the Fund while using the risk premia strategies may suffer. The Fund's exposure to derivatives involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other investments. Derivatives instruments can be highly volatile, result in leverage (which can increase both the risk and return potential of the Fund), and involve risks in addition to the risks of the underlying instrument on which the derivative is based, such as counterparty, correlation and liquidity risk. If a counterparty is unable to honor its commitments, the value of Fund shares may decline and/or the Fund could experience delays in the return of collateral or other assets held by the counterparty. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical, currency exchange rates or other conditions. The use of leverage may cause the Fund to liquidate portfolio positions when it may not be advantageous to do so to satisfy its obligations or to meet segregation requirements. Leverage may cause the Fund to be more volatile than if it had not been leveraged, as certain types of leverage may exaggerate the effect of any increase or decrease in the value of the Fund’s portfolio securities. The value of commodities investments will generally be affected by overall market movements and factors specific to a particular industry or commodity, including weather, embargoes, tariffs, or health, political, international and regulatory developments. The Fund will incur a loss as a result of a short sale if the price of the security sold short increases in value between the date of the short sale and the date on which the Fund purchases the security to replace the borrowed security. The Fund is exposed to liquidity risk when trading volume, lack of a market maker or trading partner, large position size, market conditions, or legal restrictions impair its ability to sell particular investments or to sell them at advantageous market prices. No fund is a complete investment program and you may lose money investing in a fund. The Fund may engage in other investment practices that may involve additional risks and you should review the Fund prospectus for a complete description.


Management

Christopher Haskamp, CFA

Christopher Haskamp, CFA

Senior Portfolio Manager
Parametric Minneapolis Investment Center
Joined Parametric 2006

Biography

Christopher Haskamp is a senior portfolio manager for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He is responsible for portfolio management, managing portfolios for the liability-driven investing and enhanced index programs, and for leading research projects in the area of risk management. He joined Parametric in 2006.

Chris began his career in the investment management industry in 2006 with The Clifton Group (acquired by Parametric in 2012). Before joining Parametric, he was a scientist at Beckman Coulter Inc.

Chris earned a B.S. in biochemistry from the University of Minnesota, an M.S. in chemistry from the University of California, San Diego and an MBA in finance from the University of Minnesota, Carlson School of Management. He is a CFA charterholder and member of the CFA Society of Minnesota.

Education
  • B.S. University of Minnesota
  • M.S. University of California, San Diego
  • MBA University of Minnesota

Experience
  • Managed Fund since inception

 
Thomas B. Lee, CFA

Thomas B. Lee, CFA

Managing Director Investment Strategy and Research
Parametric Minneapolis Investment Center
Joined Parametric 1994

Biography

Thomas Lee is a managing director for investment strategy and research for Parametric Portfolio Associates LLC, an investment adviser and majority-owned subsidiary of Eaton Vance Corp. He leads an investment team responsible for managing the firm's investment strategies, and providing customized risk management strategies for institutional investors at Parametric's Minneapolis Investment Center.

Prior to joining The Clifton Group (acquired by Parametric in 2012) in 1994, Thomas worked as a research analyst at the Board of Governors of the Federal Reserve.

Thomas earned a B.S. in economics and an MBA in finance from University of Minnesota. He is a CFA charterholder.

Education
  • B.S. and MBA University of Minnesota

Experience
  • Managed Fund since inception

 

Literature

Literature

Fact Sheet

Download - Last updated: Jun 30, 2019

Annual Report

Download - Last updated: Jul 31, 2019

Full Prospectus

Download - Last updated: Aug 1, 2018

Holdings-1st or 3rd fiscal quarters-www.sec.gov (beginning 3/31/2019)

Download

Holdings-1st or 3rd fiscal quarters-www.sec.gov

Download

SAI

Download - Last updated: Aug 1, 2018

Semi-Annual Report

Download - Last updated: Jan 31, 2019

Summary Prospectus

Download - Last updated: Aug 1, 2018

XBRL

Download - Last updated: Aug 6, 2018