AXS Thomson Reuters Private Equity Return Tracker Fund

Data updated: 2023-08-28

C000222487 — AXS Thomson Reuters Private Equity Return Tracker Fund. Commodity · $11.22M AUM. Holdings, fees, performance and SEC filings.

C000222487 Fund Overview

AXS Thomson Reuters Private Equity Return Tracker Fund is a US mutual fund managed by Investment Managers Series Trust II, categorised as Commodity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: Investment Managers Series Trust II
Category: Commodity
Assets under management: $11.22M
1-year return: 3.2%
SEC CIK: 0001587982
SEC series ID: S000069732
Share class ID: C000222487

C000222487 Investment Objective and Strategy

AXS Thomson Reuters Private Equity Return Tracker Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust II.

Investment objective

The investment objective of the AXS Thomson Reuters Private Equity Return Tracker Fund (the Fund) is to provide investment results that, before fees and expenses, correspond generally to the price performance of a specific benchmark designed to track the aggregate performance of U.S. private equity-backed companies. The Funds current benchmark is the Thomson Reuters Private Equity Buyout Index (the Underlying Index).

Principal investment strategy

The Fund seeks to provide investment results that, before fees and expenses, correspond generally to the price performance of the Thomson Reuters Private Equity Buyout Index (the Underlying Index). The Underlying Index seeks to replicate the aggregate gross performance of U.S. private equity-backed companies by exclusively holding publicly listed assets. These publicly listed assets may be companies of any market capitalization; however, it generally focuses on companies with large capitalizations. The Fund does not invest in private equity funds or private equity companies. In seeking to track the Underlying Index, the Fund invests in publicly-traded equity securities that are either components of the Underlying Index or are determined by the Funds investment advisor to have substantially similar risk and return characteristics, in the aggregate, as the Underlying Index.

Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in the component publicly listed assets included in the Underlying Index. This policy is not fundamental and may be changed by the Board of Trustees upon 60 days written notice to shareholders. The Fund also invests in total return swaps designed to provide exposure to the characteristics of private equity-backed companies. Swaps, which are a type of derivative, will create economic leverage in the Funds portfolio. Leverage may magnify, sometimes significantly, the Funds exposure to any increase or decrease in prices associated with the assets held by the Fund and may result in increased volatility in the value of the Funds portfolio. The Funds investments in swaps are subject to limits on leverage imposed by the Investment Company Act of 1940, as amended (the 1940 Act), and related guidance from the Securities and Exchange Commission (SEC).

To comply with the 1940 Act limits and SEC guidance, the Fund generally will be required to segregate or earmark liquid assets or enter into offsetting positions to cover its current obligation with respect to any swap. The Fund also may invest in other investment companies, including exchange-traded funds (ETFs), to gain exposure to the returns of the Underlying Index. To the extent that the Underlying Index is concentrated in a particular industry, the Funds investment exposure will necessarily be concentrated in that industry. Currently, the Underlying Index has significant exposure to industries within the technology sector. The Fund is a commodity pool under the Commodity Exchange Act (CEA), and the Advisor is a commodity pool operator registered with and regulated by the Commodity Futures Trading Commission (CFTC).

As a result, additional CFTC-mandated disclosure, reporting and recordkeeping obligations apply with respect to the Fund under CFTC and SEC harmonized regulations.

C000222487 Performance

Total returns for C000222487 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	3.2%
3 years (annualised)	-0.4%

C000222487 Risk Information

Risk metrics for C000222487, derived from monthly returns in SEC filings.

1-year volatility (annualised): 30.6%

C000222487 Costs and Fees

C000222487 costs about $150 per $10,000 invested per year in fund expenses.

Net expense ratio: 1.50%
Gross expense ratio: 2.53%
Portfolio turnover: 45%
Brokerage commissions: 15.28 bps of average net assets (SEC N-CEN)

C000222487 Cashflows

Over the 12 months to 2023-06, AXS Thomson Reuters Private Equity Return Tracker Fund had net inflows of $6.26M, from monthly SEC N-PORT filings.

Month	Net flow
2023-06	$176.90K
2023-05	$118.92K
2023-04	$1.43M
2023-03	$114.44K
2023-02	$187.05K
2023-01	$202.25K

C000222487 Debt Constituents

No individual debt constituents are reported in AXS Thomson Reuters Private Equity Return Tracker Fund's latest SEC N-PORT filing.

C000222487 Prospectus and SEC Filings

Official AXS Thomson Reuters Private Equity Return Tracker Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Commodity 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.