CCRYX — Campbell Multi-Asset Carry Fund

CCRYX Fund Overview

CCRYX — Campbell Multi-Asset Carry Fund is a US mutual fund managed by Rbb Fund, Inc., 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: Rbb Fund, Inc.
• Category: Commodity
• Ticker: CCRYX
• SEC CIK: 0000831114
• SEC series ID: S000052073
• Share class ID: C000163858

CCRYX Investment Objective and Strategy

Campbell Multi-Asset Carry Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Rbb Fund, Inc..

Investment objective

"The investment objective of the Campbell Multi-Asset Carry Fund (the ""Fund"") is to seek positive absolute returns. A positive 'absolute return' seeks to earn a positive total return over a reasonable period of time regardless of market conditions or general market direction."

Principal investment strategy

"The Fund pursues its investment objective by (i) investing its assets pursuant to the Campbell Multi-Asset Carry Program (formerly, Campbell Core Carry Program); (ii) allocating up to 25% of its assets in its wholly-owned subsidiary, Campbell Core Carry Offshore Limited (the ""Subsidiary""), which is organized under the laws of the Cayman Islands and employs the Manager's Campbell Multi-Asset Carry Program (as described below), and (iii) allocating the remainder of its assets directly in a portfolio of investment grade securities (including government securities) for cash management purposes. Securities rated in the four highest categories by the ratings agencies are considered investment grade. The Fund invests pursuant to the Manager's Campbell Multi-Asset Carry Program, which uses quantitative modeling to develop and maintain systematic trading strategies driven by scientific analysis of financial data across global financial and commodity markets.

The Campbell Multi-Asset Carry strategy seeks to generate attractive risk-adjusted returns by evaluating ""carry premium"" in different asset classes. Carry premium is the economic benefit that one can achieve by holding or ""carrying"" a particular investment, less the costs associated with holding that asset. The type of economic benefit varies by asset type; for example stocks may pay dividends and bonds may pay a coupon. Certain investments may actually have a negative carry premium, meaning that the economic benefit is exceeded by the costs of holding the investment (financing costs, storage costs, etc.). At its most basic level, a strategy that seeks to benefit from the carry premium would hold long positions on investments/markets that pay a carry premium and hold short positions on investments/markets that have a negative carry premium.

The Campbell Multi-Asset Carry strategy will determine whether to go long or short each investment/market by evaluating that investment/market's carry premium and other factors, including risk management as discussed below, and will gain exposure to any of the various asset types (equities, fixed income, etc.) by using derivatives rather than holding those assets directly. The Fund is generally intended to have a low correlation to the equity, bond and credit markets. There is no assurance, however, that the Fund will achieve its investment objective. The Fund intends to trade in a broad range of instruments, including but not limited to, futures (including commodity futures, index futures, equity futures, bond futures and interest rate futures), currency forwards, options and swaps (including commodity swaps, swaps on commodity futures, equity swaps, swaps on index futures, total return swaps and interest rate swaps), either by investing directly in the instruments or, indirectly, by investing in the Subsidiary which invests in the instruments.

From time to time, the Fund can have significant exposure to non-U.S. dollar denominated currencies, including emerging markets currencies. The Manager will attempt to mitigate risk through diversification of holdings and through active monitoring of portfolio volatility, counterparties and other risk measures. Individual market positions are constrained to ensure that no one market or asset class represents an outsized portion of the Fund's portfolio risk. The Manager evaluates changes in signals daily, and execution is controlled by its intraday risk management and execution platform. The Fund may utilize proprietary or third party trading algorithms in order to minimize market impact and reduce trading costs. The Fund is ""non-diversified"" for purposes of the Investment Company Act of 1940, as amended, (the ""1940 Act"") which means that the Fund may invest in fewer securities at any one time than a diversified fund.

The Fund may not invest more than 15% of its net assets in illiquid securities. Investments in the Subsidiary, which has the same investment objective as the Fund, are intended to provide the Fund with indirect exposure to futures contracts and commodities in a manner consistent with the limitations and requirements of the Internal Revenue Code of 1986, as amended (the ""Code"") that apply to the Fund, which limit the amount of income the Fund may receive from certain sources. Applicable federal tax requirements generally limit the degree to which the Fund may invest in the Subsidiary to an amount not exceeding 25% of its total assets. To the extent they are applicable to the investment activities of the Subsidiary, the Subsidiary will be subject to the same investment restrictions and limitations, and follow the same compliance policies and procedures, as the Fund."

CCRYX Costs and Fees

CCRYX costs about $128 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.28%
• Gross expense ratio: 2.36%
• Portfolio turnover: 0%

CCRYX Debt Constituents

No individual debt constituents are reported in Campbell Multi-Asset Carry Fund's latest SEC N-PORT filing.

CCRYX Prospectus and SEC Filings

Official Campbell Multi-Asset Carry Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2018-01-17
• Prospectus (485BPOS) — filed 2017-01-19
• Prospectus (485BPOS) — filed 2016-01-08

Related Funds

Other Commodity funds tracked on ABC INVEST:

• VanEck Vectors Gold Miners ETF (GDX)
• VanEck Vectors Junior Gold Miners ETF (GDXJ)
• Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC)
• PIMCO CommoditiesPLUS Strategy Fund (PCLAX)
• First Eagle Gold Fund (SGGDX)

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.