Absolute Capital Opportunities Fund
Data updated: 2023-08-28
C000158767 — Absolute Capital Opportunities Fund. United States Large Cap Equity · $88.76M AUM. Holdings, fees, performance and SEC filings.
C000158767 Fund Overview
Absolute Capital Opportunities Fund is a US mutual fund managed by Forum Funds, categorised as United States Large Cap Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Forum Funds
- Category: United States Large Cap Equity
- Assets under management: $88.76M
- 1-year return: -4.2%
- SEC CIK: 0000315774
- SEC series ID: S000050284
- Share class ID: C000158767
C000158767 Investment Objective and Strategy
Absolute Capital Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Forum Funds.
Investment objective
"Absolute Capital Opportunities Fund (the ""Fund"") seeks to achieve long-term capital appreciation with a lower sensitivity to traditional financial market indices such as the the Standard & Poors 500 Index (""S&P 500 Index"")."
Principal investment strategy
"Absolute Investment Advisers LLC (""Absolute""), the Fund's investment adviser, believes the Fund can obtain significant benefits by allocating Fund assets among a carefully chosen set of equity-based investment strategies that, when combined, provide attractive returns by focusing on equity investments with low volatility and lower sensitivity to traditional market measures over a complete market cycle. Absolute will pursue its investment objective by allocating Fund assets to a subadviser (the ""Subadviser""), who employs a range of specialized investment strategies, and by investing Fund assets in other, affiliated portfolios and funds. This investment strategy may be referred to as a ""multi-manager"" strategy. Absolute has primary responsibility for allocating Fund assets across strategies and investment styles that Absolute believes are complementary and, when combined, will produce long-term risk-adjusted returns.
In seeking long-term risk-adjusted returns, Absolute equates risk with a permanent loss of capital and not simply volatility. To this end, Absolute will be responsible for selecting and overseeing the Fund's Subadviser. Absolute reviews a range of factors (e.g., investment process) when evaluating the Subadviser. Absolute retains the discretion to invest the Fund's assets in securities and other instruments directly. These investments may be short-term and/or opportunistic in nature and are typically expressed through a combination of long and short index-related securities on various asset classes. Absolute has the discretion to remove the Subadviser or, subject to board approval, add new subadvisers at any time. The Subadviser may use a combination of the following investment strategies: Opportunistic and Long-Biased Equity Strategies seek to capitalize on undervalued equity securities (common stock, preferred stock, convertible securities, warrants, rights and sponsored or unsponsored American Depositary Receipts (""ADRs"")) or on positive market trends and, therefore, typically invests in a variety of securities markets, industries, company sizes, or geographical areas.
Strategies may utilize short sales, options and futures and forward contracts to implement selective hedging and manage risk exposure. Long/Short Equity or Market Neutral Strategies attempt to neutralize exposure to general domestic market risk by primarily investing in common stocks that are undervalued and short selling stocks that are considered to be overvalued. Strategies may attempt to realize a valuation discrepancy in the relationship between multiple securities (relative value or value arbitrage), or may utilize quantitative factors to measure investment attractiveness among securities. Long/Short Equity includes the broad ability to invest in stocks both long and short. Long exposure to a security means the holder of the position owns the security and will profit if the price of the security increases.
A short position generally involves the sale of a security that the Fund has borrowed (but does not own) with the expectation that the price of the security will decrease in value, enabling the Fund to repurchase the security later at the lower price. Longs and shorts may be directly related to one another or independent from each other. Equity Market Neutral is a strategy that commits to maintaining a certain balance of long and shorts. This could mean equal parts long and short to keep the net exposure at or near zero, or it could mean a slightly variable amount long and shorts to keep the strategy beta at zero. Long/Short Hedged Equity Strategies invest in securities believed to be undervalued or offer high growth opportunities while also attempting to minimize overall market risk or take advantage of an anticipated decline in the price of an overvalued company or index by using short sales, futures or options.
Strategies may use futures or options to hedge risk, increase or reduce the Fund's investment exposure or obtain leverage. Leverage is an economic effect resulting from additional investment exposure, which creates the potential for magnified gains or losses. See ""Leverage Risk,"" below, for more information about the risks of leverage. Hedged Equity refers to a strategy that generally contains a number of long investments but also certain other securities (cash, shorts, derivatives) designed to mitigate a certain risk(s) embedded in those longs."
C000158767 Holdings
Top 10 holdings of Absolute Capital Opportunities Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| First American Treasury Obligations Fund | 28.54% |
| Dreyfus Treasury Securities Cash Management Fund, Instiutional Shares | 8.27% |
| SPDR S&P 500 ETF Trust | 4.85% |
| SPDR S&P 500 ETF Trust | 3.43% |
| Berkshire Hathaway Inc | 3.37% |
| Apple Inc | 2.79% |
| General Motors Co | 2.02% |
| Amazon.com Inc | 1.78% |
| Meta Platforms Inc | 1.75% |
| Analog Devices Inc | 1.74% |
C000158767 Portfolio Allocation
Asset-class allocation of Absolute Capital Opportunities Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 53.4% |
| Cash & Equivalents | 36.8% |
| Derivatives | 5.8% |
C000158767 Performance
Total returns for C000158767 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -4.2% |
| 3 years (annualised) | -2.5% |
C000158767 Risk Information
Risk metrics for C000158767, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.2%
C000158767 Costs and Fees
C000158767 costs about $163 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.63%
- Gross expense ratio: 1.79%
- Portfolio turnover: 120%
- Brokerage commissions: 14.69 bps of average net assets (SEC N-CEN)
C000158767 Cashflows
Over the 12 months to 2023-06, Absolute Capital Opportunities Fund had net outflows of $56.36M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-06 | −$2.39M |
| 2023-05 | −$2.97M |
| 2023-04 | −$5.17M |
| 2023-03 | −$1.77M |
| 2023-02 | −$2.20M |
| 2023-01 | $876.46K |
C000158767 Debt Constituents
No individual debt constituents are reported in Absolute Capital Opportunities Fund's latest SEC N-PORT filing.
C000158767 Prospectus and SEC Filings
Official Absolute Capital Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-07-26
- Prospectus (485BPOS) — filed 2022-07-28
- Prospectus (485BPOS) — filed 2021-07-28
- Portfolio holdings (N-PORT) — filed 2023-08-28
- Portfolio holdings (N-PORT) — filed 2023-05-30
- Portfolio holdings (N-PORT) — filed 2023-03-01
- Annual census (N-CEN) — filed 2023-06-09
- Annual census (N-CEN) — filed 2022-06-13
Related Funds
Other United States Large Cap Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.