CLOVX — Clough Global Long/Short Fund

Data updated: 2023-04-03

CLOVX — Clough Global Long/Short Fund. Money Market · $29.13M AUM · 1.89% expense ratio · -59.1% 1-yr return. Holdings, fees, performance and SEC filings.

CLOVX Fund Overview

CLOVX — Clough Global Long/Short Fund is a US mutual fund managed by Clough 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: Clough Funds Trust
  • Category: Money Market
  • Assets under management: $29.13M
  • 1-year return: -59.1%
  • Ticker: CLOVX
  • SEC CIK: 0001638872
  • SEC series ID: S000050324
  • Share class ID: C000202463

CLOVX Investment Objective and Strategy

Clough Global Long/Short Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Clough Funds Trust.

Investment objective

The Fund seeks to provide investors with long-term capital appreciation.

Principal investment strategy

The Fund seeks to achieve its investment objective primarily by taking long positions and short positions in equity securities in both U.S. and non-U.S. markets. The Fund invests primarily in a broad selection of global equity securities, including preferred stocks. Depending on the Advisers outlook, the Fund may, at times, be more heavily invested in equity securities in U.S. markets or in equity securities in other markets around the world. Under normal circumstances, the Fund expects to invest in securities of issuers located in at least three countries (in addition to the United States). Unless market conditions are deemed unfavorable, the Fund expects that the market value of the Funds long and short positions in securities of issuers organized or located outside the United States, issuers doing a substantial amount of business outside the United States (greater than 50% of revenues derived from outside of the United States), and, in the case of an ETF, where a majority of the securities in which the ETF invests have the foregoing characteristics, will represent at least 40% of the Funds net assets.

Investments in non-U.S. markets will be made primarily through securities such as common shares, depositary receipts and registered investment companies (including exchange-traded funds (ETFs)). The Fund may also use derivatives, such as swaps and participation notes, in order to gain access to foreign markets. In addition to the Funds primary investment strategy, the Adviser may employ currency strategies across foreign markets, including developing/emerging markets (countries that are included in the MSCI Emerging Markets Index), using derivatives, such as forward foreign currency contracts, futures, and swaps, to seek to hedge against foreign exchange risk. The Fund will use a variety of investment techniques designed to capitalize on declines in the market prices of equity securities or declines in market indices based on the Advisers investment outlook, including by taking long and short positions.

Short positions will generally not exceed 50% of the Funds net assets. The Funds net exposure (measured as the market value of long positions minus the market value of short positions) is expected to range between 20%-80% of the Funds net assets. A higher net exposure generally reflects the Advisers belief there are relatively better investment opportunities in securities that it expects to appreciate in value than in securities it expects to decline in value (and may also indicate that the Adviser has a relatively positive view of equity markets), while a lower net exposure generally reflects the reverse, although in each case other factors could also cause the Adviser to choose to increase or decrease the Funds net exposure. The Fund generally seeks to limit volatility in returns to below that of broad global equity indices such as the S&P 500, as measured by the standard deviation (the average deviation of a return series from its mean).

The Adviser may employ hedging (including through investments in ETFs) and other techniques (for example, by utilizing short positions and currency hedging exposure and by managing cash balances) in an effort to limit the Funds exposure to declines in markets, regions, industries and/or individual securities. The Fund may invest in issuers of any capitalization and size. Generally, securities will be purchased or sold by the Fund on securities exchanges and in the over-the-counter (OTC) market. However, the Fund may hold securities that are illiquid or that are only infrequently traded. More information regarding illiquid securities is included in this Prospectus in the section entitled More on the Funds Investments and Related Risks Illiquid Investments and in the SAI in the section entitled Other Practices Illiquid Securities.

The Adviser may, from time to time, invest the Funds cash balances in any investments it deems appropriate, including, without limitation and as permitted under the Investment Company Act of 1940, as amended (the 1940 Act), money market funds, repurchase agreements, U.S. Treasury and U.S. agency securities, municipal bonds and bank accounts. Investment Selection The Fund seeks to achieve its investment objective by applying a fundamental research-driven investment process. The Adviser believes that attractive investment returns can be achieved when key, proprietary insights into industry or economic trends are discovered, and their significance understood, before they become obvious to other investors. Within this context, the investment process will focus on investing in a number of major global investment themes identified by the Adviser.

Once attractive themes are identified, the Adviser generally utilizes a bottom-up research process to identify companies it believes are best positioned to benefit from those specific themes, as well as companies that the Adviser believes may be vulnerable in light of these themes. Individual positions will be selected based upon a host of qualitative and quantitative factors, including, but not limited to, such factors as a companys competitive position, quality of company management, quality and visibility of earnings and cash flow, balance sheet strength and relative valuation. Issuers with strengths in these areas (or in such other areas that the Adviser determines are relevant) may be attractive opportunities for long investments. Conversely, issuers facing profit headwinds, balance sheet weaknesses, competitive pressures or adverse regulatory changes, among other challenges, may present attractive opportunities as short positions when the Adviser believes their value is likely to decline over some period of time.

Under the Funds theme-oriented investment approach, investment positions may be focused in only a relatively small number of sectors. The Fund will seek to broadly invest its assets within its investment themes, as appropriate, to lower volatility. Individual equity positions on both the long and short side of the portfolio will typically be below 5% of total assets at the time of investment. (Investments in ETFs may exceed 5% of total assets at the time of investment.)

CLOVX Performance

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

PeriodTotal return
1 year-59.1%
3 years (annualised)-50.8%

CLOVX Risk Information

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

  • 1-year volatility (annualised): 10.3%

CLOVX Costs and Fees

CLOVX costs about $189 per $10,000 invested per year in fund expenses.

  • Net expense ratio: 1.89%
  • Gross expense ratio: 2.93%
  • Portfolio turnover: 244%
  • Brokerage commissions: 31.75 bps of average net assets (SEC N-CEN)

CLOVX Cashflows

Over the 12 months to 2023-01, Clough Global Long/Short Fund had net outflows of $25.67M, from monthly SEC N-PORT filings.

MonthNet flow
2023-01−$3.61M
2022-12−$2.03M
2022-11−$1.84M
2022-10−$2.64M
2022-09−$818.11K
2022-08−$3.38M

CLOVX Debt Constituents

No individual debt constituents are reported in Clough Global Long/Short Fund's latest SEC N-PORT filing.

CLOVX Prospectus and SEC Filings

Official Clough Global Long/Short Fund 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.