Easterly Total Hedge Portfolio

Data updated: 2023-07-28

C000224290 — Easterly Total Hedge Portfolio. Money Market · $13.18M AUM · 1.67% expense ratio. Holdings, fees, performance and SEC filings.

C000224290 Fund Overview

Easterly Total Hedge Portfolio is a US mutual fund managed by James Alpha Funds Trust, categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

Type: US mutual fund
Manager: James Alpha Funds Trust
Category: Money Market
Assets under management: $13.18M
1-year return: -3.5%
SEC CIK: 0001829774
SEC series ID: S000070608
Share class ID: C000224290

C000224290 Investment Objective and Strategy

Easterly Total Hedge Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by James Alpha Funds Trust.

Investment objective

Investment Objective: The Fund seeks attractive long-term risk-adjusted returns relative to traditional financial market indices.

Principal investment strategy

Principal Investment Strategies: The Fund seeks to achieve its investment objective by attempting to outperform the returns of a variety of investment strategies offered by private funds. The private fund investment strategies the returns of which the Fund will seek to outperform include hedged equity, event driven, macro, and relative value strategies. These strategies are described below: A hedged equity investment strategy typically involves establishing both long and short positions in equity or equity-linked instruments. A hedged equity strategy also may seek to manage risk by adopting top-down constraints on leverage, limits on net market exposure, net regional exposure and net sector exposure, position size limits, position stop-loss limits and parameters relating to the number of its positions.

The Fund will seek to outperform the returns of various hedged equity investment strategies, such as, among others, equity market neutral, fundamental growth, fundamental value, quantitative directional strategies, short bias, and sectors such as energy, materials, technology and healthcare. Event driven investment strategies seek to profit from investing in securities of companies on the basis that a specific event or catalyst will affect future pricing. For example, merger arbitrage strategies seek to capitalize on price discrepancies and returns generated by a corporate transaction. Event driven investment strategies may purchase the common stock of a company being acquired and short the common stock of the acquirer in expectation of profiting from the price differential as a result of or in expectation of the consummation of the merger.

The Fund will seek to outperform the returns of various event driven investment strategies, such as, among others, activist strategies, credit arbitrage, distressed investing, restructuring strategies and merger arbitrage. Macro-based strategies aim to exploit macro-economic imbalances across the globe. Macro-based strategies may be implemented through a broad range of asset classes including, but not limited to, equities, fixed income, currency and commodities. The Fund will seek to outperform the returns of various macro-based investment strategies, such as, among others, active trading, commodity, currency, discretionary thematic, systematic diversified and multi-strategy. Relative value strategies seek to identify and capitalize on valuation discrepancies between related financial instruments rather than on the direction of the general market.

The Fund will seek to outperform the returns of various fixed income relative value strategies, such as, among others, asset-backed, master limited partnership (MLP), real estate, convertible arbitrage, corporate and sovereign strategies, as well as volatility investment strategies. The Fund will seek to outperform the returns of private fund investment strategies by investing in a variety of asset classes, including global equities, global fixed income securities, currencies, commodities and rates, such as interest rates and measures of volatility. The Fund expects to gain exposure to these asset classes primarily through exchange-traded products such as exchange-traded notes (ETNs), exchange-traded funds (ETFs) and mutual funds, including affiliated funds, although the Fund may invest directly in currencies, equities and fixed income securities.

The Fund also expects to invest in derivative instruments to gain exposure to one or more asset classes, individual investments or investment strategies. The derivatives instruments that may be utilized by the Fund include options, futures, options on futures, forward contracts and swaps. Derivatives may also be used to generate leverage, seek to profit from the underlying assets price fluctuations, or hedge the Funds exposure to an asset class, individual investment or group of investments. The Funds equity exposure may include exposure to both U.S. and non-U.S. common stocks and preferred stocks of any size market capitalization. The Funds fixed income exposure may include exposure to securities issued by governments, government-related entities or public and private companies. The Fund may seek exposure to fixed income instruments that are rated below investment grade (i.e., junk bonds), particularly in seeking to outperform the returns of certain private fund strategies such as distressed investing.

The types of swaps in which the Fund may invest include, among others, total return, index, interest rate, credit default and volatility swaps. The Fund may also invest in swaps having payments linked to the returns of indices, individual securities or pooled investment vehicles, including limited partnerships, limited liability companies, offshore corporations and commodity pools (collectively, Underlying Pools). There is no limit on the Funds exposure to foreign companies, foreign governments or foreign currencies, which may include exposure to emerging markets. In constructing the Funds investments, the Adviser employs proprietary techniques and models to evaluate the drivers of performance of private funds that utilize hedged equity, event driven, macro and relative value strategies. The Adviser then identifies investments that it believes have similar drivers of performance to attempt to produce returns that correlate with, but are not identical to, the returns of the private funds tracked by the Adviser.

The Adviser then determines the appropriate percentage that each particular investment strategy should represent of the entire Fund and weights the exposure to that investment strategy accordingly. The private fund returns on which the Advisers models are based are pulled from various sources and do not represent the returns of the entire private fund universe. The private fund returns tracked by the Adviser, the factors driving those returns and the percentage weightings assigned by the Adviser to each investment strategy are all expected to change over time. The Fund may invest up to 25% of its total assets in a wholly-owned and controlled Cayman Islands subsidiary (the Subsidiary) to gain exposure to certain commodity-linked investments such as commodity futures, options and swap contracts.

The commodity investments will be focused in four sectors of the commodities market: energy, precious metals, industrial metals and agricultural/livestock. The Fund may hold investments with commodity exposure outside of the Subsidiary and, therefore, it is possible the Funds exposure to commodities could exceed 25%. The Subsidiary may also hold cash, money market instruments, including affiliated and unaffiliated money market funds and other fixed income instruments to serve as margin or collateral for the Subsidiarys derivative positions. Investments in the Subsidiary are intended to provide the Fund with exposure to commodities markets within the limitations of the federal tax requirements that apply to the Fund. The investment policies of the Subsidiary are the same as the investment policies of this sleeve of the Fund.

The Subsidiary is subject to substantially the same investment restrictions and limitations, including asset coverage requirements, as are applicable to this sleeve of the Fund and will follow substantially the same compliance policies and procedures as the Fund, to the extent they are applicable. The Fund owns 100% of the Subsidiarys interests.

C000224290 Performance

Total returns for C000224290 (as of 2026-10-01), from SEC filings.

Period	Total return
1 year	-3.5%
3 years (annualised)	-3.1%

C000224290 Risk Information

Risk metrics for C000224290, derived from monthly returns in SEC filings.

1-year volatility (annualised): 9.0%

C000224290 Costs and Fees

C000224290 costs about $167 per $10,000 invested per year in fund expenses.

Net expense ratio: 1.67%
Gross expense ratio: 2.39%
Portfolio turnover: 186%
Brokerage commissions: 7.53 bps of average net assets (SEC N-CEN)

C000224290 Cashflows

Over the 12 months to 2023-05, Easterly Total Hedge Portfolio had net inflows of $38.91M, from monthly SEC N-PORT filings.

Month	Net flow
2023-05	$7.60M
2023-04	$7.20M
2023-03	$637.53K
2023-02	$551.15K
2023-01	$1.04M
2022-12	$1.44M

C000224290 Debt Constituents

No individual debt constituents are reported in Easterly Total Hedge Portfolio's latest SEC N-PORT filing.

C000224290 Prospectus and SEC Filings

Official Easterly Total Hedge Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

Related Funds

Other Money Market 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.