Monte Chesapeake Macro Strategies Fund


Investment Objective

The investment objective of the Fund is to seek positive absolute return and long-term capital appreciation.

Principal Investment Strategies

The Fund seeks to achieve its investment objectives using two principal strategies: short to medium-term fixed income securities and a long/short exposure to global trading programs.

Short to Medium-term Fixed Income Strategy: For the short to medium-term fixed income strategy, decisions are driven by liquidity, rating and tenure. This portion of the portfolio is constructed in an effort to mitigate interest rate and credit risk while optimizing income.

Multi-Asset, Long/Short Global Macro Strategy: The Fund pursues its multi-asset, long/short global macro strategy by investing globally across a wide range of asset classes, including equities, fixed income, currencies and commodities, utilizing a portfolio of futures, forwards, options, spot contracts and swaps (collectively “Futures Interest Contracts”), including, but not limited to, global developed and emerging market equity index futures, swaps on equity index futures, equity swaps and options on equity indices, global developed and emerging market currency forwards, commodity futures and swaps, global developed fixed income futures, and bond and interest rate futures and swaps. As a part of the Macro Strategy, the Fund may also invest in individual equity securities, specifically common stocks. The Global Macro Strategy has the flexibility to shift its allocation across these asset classes and markets around the world, based on their relative attractiveness. Furthermore, the Global Macro Strategy seeks to take advantage of market trends that are derived from various macroeconomic and non-macroeconomic factors. The Fund may, directly or indirectly as described below, enter into both long and short positions in Futures Interest Contracts and long only positions in common stocks. The Adviser will apply its trading strategies to a spectrum of markets, asset classes (including equities, bonds, currencies, commodities) and financial instruments (such as Futures Interest Contracts, other funds and cash). The investment decisions are based on market movement and market trends that result from various factors including changes in interest rates, inflation, economic cycles and political circumstances. Once a market trend has been identified, the Adviser will establish its positions. The Fund may invest in multiple countries and frequently has significant exposure to foreign currencies and investments. Although the Fund typically will invest up to 30% of its assets in foreign markets, the Fund reserves the right to invest in foreign markets without limitation.

Under normal market conditions, the Fund will invest a portion of its assets (either directly or through Underlying Pools) in foreign investments unless market conditions are not deemed favorable by the Adviser in which case the Fund may not hold any non-U.S. investments. The Fund may also invest in companies of emerging market countries. The Fund may invest in securities denominated in U.S. Dollars and the currencies of the foreign countries in which it is permitted to invest. The Fund typically has full currency exposure to those markets in which it invests. In addition, the Fund may invest in securities of any market capitalization.

The Fund may execute its Global Macro Strategy by investing up to 25% of its total assets in a wholly- owned and controlled subsidiary (the “Subsidiary”). The Subsidiary will invest the majority of its assets in an Underlying Pool(s) or other instruments. To the extent they are applicable to the investment activities of the Subsidiary, the Subsidiary will be subject to the same investment restrictions and limitations, and follow the same compliance policies and procedures as the Fund.

The Fund may also pursue its Global Macro Strategy by investing a portion of its assets directly in certain financial-related derivatives and equities. The Fund anticipates that it will generally invest between 10-90% of its assets (whether directly or through the Subsidiary) pursuant to the Global Macro Strategy. The Fund anticipates that it will generally invest between 10-30% of its assets pursuant to the Fixed Income Strategy, although it reserves the right to invest up to 100% of its assets pursuant to the Fixed Income Strategy.

Pie Chart
Strategy allocations as of March 31, 2015.
Strategy allocations are subject to change and should not be considered investment advice.

The Chesapeake Long Short Equity Strategy

What makes this fund different from many alternative strategies is its exposure to a long short equity strategy which utilizes individual long stock futures to increase equity exposure in strong equity markets and preserves the ability to short equity indices in declining equity markets.

The Chesapeake Diversified Strategy

The Chesapeake Diversified Strategy is a systematic long-term trend following strategy with exposure to over 100 futures markets, including commodities, and currencies.




The investment covers multiple sectors including Commodities (Grains, Meat, Softs), Precious Metals, Interest Rates, Energies, Currencies, Stock Index and Stock Futures.


Sector Allocation


The sectors are presented to illustrate examples of the sectors that the fund is allocated and the diversity of areas in which the funds may invest, and may not be representative of the fund’s current or future investments. Sector allocations are subject to change and should not be considered investment advice.


As of December 2014 the fund now accesses the Chesapeake Diversified Strategy and the Chesapeake Long/Short Equity Strategy for its futures strategies.



Please Note that on December 15, 2016 a dividend of $0.1419/per share will be distributed for Class A and C, and $0.2104/share for Class I. This distribution reflects gains during Fiscal Year 2016 and is reflected in the NAV/share on this date.


The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses of the Fund, at least until March 31, 2018, to ensure that the Total Annual operating expenses will not exceed 2.15% for Class A shares, 2.90% for Class C shares, and 1.90% for Class I shares, of the Fund’s average net assets. Without these waivers, the Fund’s total annual operating expenses would be 3.47% for Class A, 4.22% for Class C, and 3.22% for Class I shares. Please review the Fund’s prospectus for more information regarding the fees and expenses. Performance shown is for Class A shares. For performance information current to the most recent month-end, please call toll-free 855-542-4642.