Sherpa Diversified Returns

Fund Class A

Fund Investment Objectives

The Sherpa Diversified Returns Fund (SDRF) is a large-cap North American equity long/short fund that uses a broad-based options overlay to deliver a superior return profile. While investing primarily in S&P 500 equities, the options strategies combine with select short equity positions to provide both downside protection as well as to generate a positive yield (6-10% annually) for the Fund. With a targeted net long exposure of 40-45%, the fund also provides significant upside participation in rising markets. The Fund is expected to outperform its benchmark (S&P 500) by 3-5% annually over the long-term with approximately 50% lower volatility.