The Fund seeks to achieve positive absolute returns that have a low correlation to the returns of broad stock and bond markets. The fund aims to capture the aggregate risk-return characteristics of the managed futures industry without the cost, complexity, and tracking error risk of a multi-manager approach. The fund seeks diverse exposure to significant price trends, both up and down, across asset classes, geographies and time horizons.
Manteio Managed Futures Strategy Fund
Overview
Investment Objective
Reasons to Consider Investing
- Offers diversified exposure within a client’s broader portfolio, particularly during large equity drawdowns
- Daily liquidity with no hedge fund lock-ups or other liquidity constraints
- Competitive Pricing and transaction cost efficiency
Leadership
Yung-Shin Kung, is a Partner in Manteio and Head & CIO of Mast Investments1. Mr. Kung is an industry pioneer in the development and management of liquid alternative investment strategies. In 2024, he founded [MAST Advisers] to absorb UBS Asset Management’s Quantitative Investment Strategies department.
At UBS and, before that, at Credit Suisse, he was a Managing Director and Head & CIO of the Quantitative Investment Strategies department. He joined Credit Suisse from Merrill Lynch, where he was a Director in the Financial Products Group from 2006-2009.
Prior to his time at Merrill Lynch, Mr. Kung spent eight years at Credit Suisse First Boston in several areas including structured debt capital markets, technology investment banking, and alternative investments. Mr. Kung began his career at Credit Suisse First Boston in 1997. He served on the Advisory Board of the Rutgers Big Data in San Francisco Certificate Program and is a member of the University of Chicago’s Leaders in Philanthropy. Mr. Kung holds a B.A. in Economics from the University of Chicago, where he was elected Phi Beta Kappa, and fulfilled the college’s requirements for a B.A. in Statistics.
1 Mast Investments refers to Manteio Scalable Technologies, LLC, the investment advisor to the Fund.
Fund Details
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Advisor
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Manteio Scalable Technologies LLC
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Custodian
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UMB Bank, N.A.
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Inseption
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9/28/2012
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Dividend Schedule
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Quarterly
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Fund Structure
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Open Ended Investment Company
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Fund Strategy
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Multialternative
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Management Fee
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1.04% (confirm)
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Net Expense Ratio Disclosure:
The Fund’s advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses do not exceed 1.55%, 2.30%, and 1.30% of the average daily net assets of Class A shares, Class C shares and Class I 1shares, respectively, of the Fund through November 22, 2026. This agreement may be terminated before that date only by the Trust’s Board of Trustees. This limit excludes any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses, professional fees related to services for the collection of foreign tax reclaims, expenses incurred in connection with any merger or reorganization, and extraordinary expenses (such as litigation expenses) The Fund’s advisor is permitted to seek reimbursement from the Fund, subject to certain limitations, of fees waived or payments made by the advisor to the Fund for a period ending three years after the date of the waiver or payment. Such reimbursement may be requested from the Fund if the reimbursement will not cause the Fund’s annual expense ratio to exceed the lesser of (a) the expense limitation in effect at the time such fees were waived or payments made, or (b) the expense limitation in effect at the time of the reimbursement. The net expense ratio is applicable to investors.
Performance
Share Class A
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Daily Prices
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Chart of Performance
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Performance MTD, QTD, and YTD
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Dividend Distributions
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost; and that current performance may be lower or higher than the performance data quoted. 1 year, 3 years, 5 years, 10 years and since inception performance is annualized.
Share Class C
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Daily Prices
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Chart of Performance
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Performance MTD, QTD, and YTD
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Dividend Distributions
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost; and that current performance may be lower or higher than the performance data quoted. 1 year, 3 years, 5 years, 10 years and since inception performance is annualized.
Share Class I
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Daily Prices
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Chart of Performance
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Performance MTD, QTD, and YTD
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Dividend Distributions
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost; and that current performance may be lower or higher than the performance data quoted. 1 year, 3 years, 5 years, 10 years and since inception performance is annualized.
Risk Considerations
Risk is inherent in all investing and you could lose money by investing in the Fund. A summary description of certain principal risks of investing in the Fund is set forth below. Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objective. The principal risks described below reflect the aggregate operations of the Fund and its Subsidiary.
Commodity Exposure Risks: Exposure to the commodities markets may subject the fund to greater volatility than investments in traditional securities.
Credit Risk: The issuer of a debt instrument, the borrower of a loan or the counterparty to a contract, including derivatives contracts, may default or otherwise become unable to honor a financial obligation.
Currency Risk: Currency risk is the risk that changes in currency exchange rates will negatively affect securities or instruments denominated in, and/or payments received in, foreign currencies.
Derivatives Risk: In addition to the risks described below under “Speculative Exposure Risk,” there are additional risks associated with investing in derivatives.
Equity Exposure Risk: Equity security prices have historically risen and fallen in periodic cycles. U.S. and foreign equity markets have experienced periods of substantial price volatility in the past and may do so again in the future.
Exchange-Traded Notes Risk: ETNs are a type of unsecured, unsubordinated debt security that have characteristics and risks similar to those of fixed income securities and trade on a major exchange similar to shares of exchange-traded funds (“ETFs”).
Fixed Income Risk: The market value of fixed income investments, and financial instruments related to those fixed income investments, will change in response to interest rate changes and other factors, such as changes in the effective maturities and credit ratings of fixed income investments.
Foreign Securities Risk: A fund that has exposure to investments outside the U.S. carries additional risks that include Currency Risk, Information Risk and Political Risk.
Forwards Risk: Forwards are not exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts.
Futures Contracts Risk: The price volatility of futures contracts historically has been greater than that for traditional securities such as stocks and bonds.
Interest Rate Risk: Changes in interest rates may cause a decline in the market value of an investment. Leveraging Risk: Although the fund itself will not be leveraged, certain financial instruments may give rise to a form of leverage.
Market Risk: The market value of an instrument may fluctuate, sometimes rapidly and unpredictably.
Non-Diversified Status: The fund is considered a non-diversified investment company under the 1940 Act and is permitted to invest a greater proportion of its assets in the securities of a smaller number of issuers.
Options Risk: A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well conceived and well-executed options program may be adversely affected by market behavior or unexpected events.
Portfolio Turnover Risk: The fund expects to engage in frequent trading of derivatives.
Repurchase Agreements Risk: Repurchase agreements could involve certain risks in the event of default or insolvency of the seller, including losses and possible delays or restrictions upon the fund’s ability to dispose of the underlying securities.
Short Position Risk: The fund or the Subsidiary may enter into a short position through a futures contract or swap agreement.
Speculative Exposure Risk: Gains or losses from speculative positions in a derivative may be much greater than the derivative’s original cost.
Structured Note Risk: The fund may seek investment exposure to asset classes through structured notes that may be exchange-traded or trade in the over-the-counter market.
Subsidiary Risk: By investing in the Subsidiary, the fund is indirectly exposed to the risks associated with the Subsidiary’s investments.
Swap Agreements Risk: Swap agreements involve the risk that the party with whom the fund has entered into the swap will default on its obligation to pay the fund and the risk that the fund will not be able to meet its obligations to pay the other party to the agreement.
Tax Risk: In order to qualify as a RIC under the Code, the fund must meet certain requirements regarding the source of its income, the diversification of its assets and the distribution of its income.
U.S. Government Securities Risk: Obligations of U.S. government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. government.
Risk is inherent in all investing and you could lose money by investing in the Fund. A summary description of certain principal risks of investing in the Fund is set forth below. Before you decide whether to invest in the Fund, carefully consider these risk factors associated with investing in the Fund, which may cause investors to lose money. There can be no assurance that the Fund will achieve its investment objective. The principal risks described below reflect the aggregate operations of the Fund and its Subsidiary.
Commodity Exposure Risks: Exposure to the commodities markets may subject the fund to greater volatility than investments in traditional securities.
Credit Risk: The issuer of a debt instrument, the borrower of a loan or the counterparty to a contract, including derivatives contracts, may default or otherwise become unable to honor a financial obligation.
Currency Risk: Currency risk is the risk that changes in currency exchange rates will negatively affect securities or instruments denominated in, and/or payments received in, foreign currencies.
Derivatives Risk: In addition to the risks described below under “Speculative Exposure Risk,” there are additional risks associated with investing in derivatives.
Equity Exposure Risk: Equity security prices have historically risen and fallen in periodic cycles. U.S. and foreign equity markets have experienced periods of substantial price volatility in the past and may do so again in the future.
Exchange-Traded Notes Risk: ETNs are a type of unsecured, unsubordinated debt security that have characteristics and risks similar to those of fixed income securities and trade on a major exchange similar to shares of exchange-traded funds (“ETFs”).
Fixed Income Risk: The market value of fixed income investments, and financial instruments related to those fixed income investments, will change in response to interest rate changes and other factors, such as changes in the effective maturities and credit ratings of fixed income investments.
Foreign Securities Risk: A fund that has exposure to investments outside the U.S. carries additional risks that include Currency Risk, Information Risk and Political Risk.
Forwards Risk: Forwards are not exchange-traded and therefore no clearinghouse or exchange stands ready to meet the obligations of the contracts.
Futures Contracts Risk: The price volatility of futures contracts historically has been greater than that for traditional securities such as stocks and bonds.
Interest Rate Risk: Changes in interest rates may cause a decline in the market value of an investment. Leveraging Risk: Although the fund itself will not be leveraged, certain financial instruments may give rise to a form of leverage.
Market Risk: The market value of an instrument may fluctuate, sometimes rapidly and unpredictably.
Non-Diversified Status: The fund is considered a non-diversified investment company under the 1940 Act and is permitted to invest a greater proportion of its assets in the securities of a smaller number of issuers.
Options Risk: A decision as to whether, when and how to use options involves the exercise of skill and judgment, and even a well conceived and well-executed options program may be adversely affected by market behavior or unexpected events.
Portfolio Turnover Risk: The fund expects to engage in frequent trading of derivatives.
Repurchase Agreements Risk: Repurchase agreements could involve certain risks in the event of default or insolvency of the seller, including losses and possible delays or restrictions upon the fund’s ability to dispose of the underlying securities.
Short Position Risk: The fund or the Subsidiary may enter into a short position through a futures contract or swap agreement.
Speculative Exposure Risk: Gains or losses from speculative positions in a derivative may be much greater than the derivative’s original cost.
Structured Note Risk: The fund may seek investment exposure to asset classes through structured notes that may be exchange-traded or trade in the over-the-counter market.
Subsidiary Risk: By investing in the Subsidiary, the fund is indirectly exposed to the risks associated with the Subsidiary’s investments.
Swap Agreements Risk: Swap agreements involve the risk that the party with whom the fund has entered into the swap will default on its obligation to pay the fund and the risk that the fund will not be able to meet its obligations to pay the other party to the agreement.
Tax Risk: In order to qualify as a RIC under the Code, the fund must meet certain requirements regarding the source of its income, the diversification of its assets and the distribution of its income.
U.S. Government Securities Risk: Obligations of U.S. government agencies and authorities are supported by varying degrees of credit but generally are not backed by the full faith and credit of the U.S. government.
Daily Prices
Chart of Performance
The chart illustrates the net performance of a hypothetical investment made in the Fund since inception and assumes reinvestment of capital gains and distributions. The hypothetical example is for illustrative purposes only and does not represent the returns of any particular investment.
Performance data quoted represents past performance. Past performance does not guarantee future results. The 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. Current performance may be lower or higher than the performance data quoted. Performance information current to the most recent month-end is available by calling (+1 551-325-0413) or at https://www.mast-funds.com. The performance shown is net of fees and expenses and reflects the reinvestment of dividends and capital gains.
Performance MTD, QTD, and YTD
Performance data quoted represents past performance. Past performance does not guarantee future results. The 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. Current performance may be lower or higher than the performance data quoted. Performance information current to the most recent month-end is available by calling (+1 551-325-0413) or at https://www.mast-funds.com. Performance shown is net of fees and expenses and reflects the reinvestment of dividends and capital gains.
Dividend Distributions
Chart of Performance
The chart illustrates the net performance of a hypothetical investment made in the Fund since inception and assumes reinvestment of capital gains and distributions. The hypothetical example is for illustrative purposes only and does not represent the returns of any particular investment.
Performance data quoted represents past performance. Past performance does not guarantee future results. The 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. Current performance may be lower or higher than the performance data quoted. Performance information current to the most recent month-end is available by calling (+1 551-325-0413) or at https://www.mast-funds.com. The performance shown is net of fees and expenses and reflects the reinvestment of dividends and capital gains.
Performance MTD, QTD, and YTD
Performance data quoted represents past performance. Past performance does not guarantee future results. The 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. Current performance may be lower or higher than the performance data quoted. Performance information current to the most recent month-end is available by calling (+1 551-325-0413) or at https://www.mast-funds.com. Performance shown is net of fees and expenses and reflects the reinvestment of dividends and capital gains.
Dividend Distributions
Resources
Fund Articles
Financial Reporting
No documents available...