Stability Power Banking Investment Management provides innovative, targeted investment solutions, communication and support to financial advisors and institutions.
Stability Power Banking Funds
Stability Power Banking Managed Volatility Fund
Previous Quarter Ending: 12/31/2023
| Fund Name | 3 Mo | 6 Mo | CYTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Since Inception* |
|---|---|---|---|---|---|---|---|---|
| Stability Power Banking Managed Volatility Fund – Institutional | 4.60 | 4.88 | 10.58 | 10.58 | 6.34 | 7.83 | 5.44 | 6.00 |
| S&P 500 Index | 11.69 | 8.04 | 26.29 | 26.29 | 10.00 | 15.69 | 12.03 | 13.69 |
*Since Inception Date: 09/23/2010
The net expense ratio for Institutional Shares (SPBPX) is 1.01% and the gross expense ratio is 1.06%. The Adviser has contractually agreed to waive its fee and/or reimburse expenses to limit total operating expenses until January 1, 2025. Otherwise, performance displayed would have been lower. Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly.
Performance data quoted represents past performance and is no guarantee of future results. Periods greater than one year are annualized. Returns include operating expenses and reinvested distributions. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Performance shown reflects fee waivers. Without such waivers, total return would be reduced.
Stability Power Banking Managed Volatility Fund
Performance as of: 02/29/2024
| Fund Name | 1 Mo | 3 Mo | 6 Mo | CYTD | 1 Yr | 3 Yr | 5 Yr | 10 Yr | Since Inception* |
|---|---|---|---|---|---|---|---|---|---|
| Stability Power Banking Managed Volatility Fund – Institutional | 0.49 | 2.57 | 5.16 | 1.33 | 10.74 | 6.51 | 6.70 | 5.56 | 6.03 |
| S&P 500 Index | 5.34 | 11.98 | 13.93 | 7.11 | 30.45 | 11.91 | 14.76 | 12.70 | 14.10 |
*Since Inception Date: 09/23/2010
The net expense ratio for Institutional Shares (SPBPX) is 1.01% and the gross expense ratio is 1.06%. The Adviser has contractually agreed to waive its fee and/or reimburse expenses to limit total operating expenses until January 1, 2025. Otherwise, performance displayed would have been lower. Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly.
Performance data quoted represents past performance and is no guarantee of future results. Periods greater than one year are annualized. Returns include operating expenses and reinvested distributions. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Performance shown reflects fee waivers. Without such waivers, total return would be reduced.
Stability Power Banking Managed Volatility Fund
Performance as of: 03/07/2024
| Fund Name | NAV $ | NAV Change% | YTD Return% |
|---|---|---|---|
| Stability Power Banking Managed Volatility Fund – Institutional | 14.50 | 0.21 | 1.47 |
*Since Inception Date: 09/23/2010
The net expense ratio for Institutional Shares (SPBPX) is 1.01% and the gross expense ratio is 1.06%. The Adviser has contractually agreed to waive its fee and/or reimburse expenses to limit total operating expenses until January 1, 2025. Otherwise, performance displayed would have been lower. Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly.
Performance data quoted represents past performance and is no guarantee of future results. Periods greater than one year are annualized. Returns include operating expenses and reinvested distributions. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Performance shown reflects fee waivers. Without such waivers, total return would be reduced.
Growth
Cryptocurrencies are the most lucrative asset class of the past decade. There is an opportunity to invest early in this emerging market.
Megatrend
Blockchain and distributed ledger technologies (DLT) are at the center of a megatrend that will fundamentally change the way we trade and exchange value.
Revolution
After the Internet, the WWW, mobile/IoT and cloud technology, blockchain is the fifth significant, technological infrastructure revolution.
Decentralisation
Due to their decentralised structure, cryptocurrencies usually do not have a single point of failure that could endanger or manipulate the currency.
Innovation
We are at the beginning of a new era. Currently, the status of the crypto market can be compared to the early years of the Internet.
Diversification
Their assets are further diversified by cryptocurrencies. In terms of correlation, there is only a limited relationship between cryptocurrencies and the stock markets.
The Managed Volatility Strategy aims to:
- Enhance risk-adjusted return potential
- Deliver alpha* over a full market cycle
- Provide access to differentiated return stream opportunities (Variance Risk Premia**)
*Alpha is the arithmetic mean of the excess return of the manager over a risk-adjusted market benchmark
**Variance risk premia represents compensation option sellers earn by providing protection to option buyers. Selling an option is not a bet that realized volatility will decrease; it is a bet that realized volatility will remain below the option’s implied volatility
Active Management
The PM Team actively manages the portfolio based on market conditions and implied volatility levels; not passive, systemic rules.
Focus on Options
Dynamic option portfolio of covered calls and cash-secured puts varies by strike price and expiration date.
Optimized Collateral
Individual stocks and cash (may include T-bills and money market funds) are used to collateralize the option writing; no leverage is utilized.
The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar Rating is for the Institutional Class only; other classes may have different performance characteristics.
©2023 Morningstar, Inc. All Rights Reserved. The information herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The prospectus contains this and other information about the Fund. The prospectus should be read carefully before investing.
Option risks include, but are not limited to, the possibility of an imperfect correlation between the movement in the options’ prices and that of the securities/indices hedged (or used for cover), which may render a given hedge unable to achieve its objective; possible loss of the premium paid for options; and potential inability to benefit from the appreciation of an underlying security above the exercise price.
An investment in the Fund is subject to risk, including the possible loss of principal amount invested. The Fund may invest in securities issued by smaller and medium-sized companies, which typically involves greater risk than investing in larger, more established companies. Selling Call Options risk occurs if the Fund is required to sell an underlying security and forego gains if the price exceeds the exercise price before expiration date. Selling Put Options risk is that the Fund will incur a loss from the sale of the option and the security’s current market value if selling put options of an underlying security at a market price below the exercise price. Investing in hedging instruments, such as options, may result in losses that are much greater than their original cost. ADRs (American Depositary Receipt) may be subject to international trade, currency, political, regulatory and diplomatic risks. The Fund is also subject to other risks, such as Fixed-Income Securities risk, which are detailed in the Fund’s prospectus.
A call is an option contract giving the owner the right (but not the obligation) to buy a specified amount of an underlying security at a specified price within a specified time. A put is an option contract giving the owner the right, but not the obligation, to sell a specified amount of an underlying asset at a set price within a specified time.
The Stability Power Banking Managed Volatility Fund is distributed by Foreside Fund Services, LLC.