CMSYX — Adaptive Tactical Outlook Fund
Data updated: 2021-10-26
CMSYX — Adaptive Tactical Outlook Fund. Total Return Allocation · $14.09M AUM · 2.37% expense ratio. Holdings, fees, performance and SEC filings.
CMSYX Fund Overview
CMSYX — Adaptive Tactical Outlook Fund is a US mutual fund managed by Starboard Investment Trust, categorised as Total Return Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Starboard Investment Trust
- Category: Total Return Allocation
- Assets under management: $14.09M
- Ticker: CMSYX
- SEC CIK: 0001464413
- SEC series ID: S000038309
- Share class ID: C000118218
CMSYX Investment Objective and Strategy
Adaptive Tactical Outlook Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Starboard Investment Trust.
Investment objective
"The Cavalier Tactical Economic Fund (the ""Fund"") seeks total return through a combination of capital appreciation and current income, with a secondary goal of downside protection."
Principal investment strategy
"The Fund's portfolio manager seeks to achieve the Fund's investment objective of total return by investing in funds that are registered under the Investment Company Act of 1940, as amended (the ""1940 Act"") and not affiliated with the Fund (together, the ""Portfolio Funds""), including exchange traded funds (""ETFs"").. The Fund is considered ""diversified"" under the 1940 Act. The strategy will follow an asset allocation strategy under which a portfolio manager will invest in U.S. large cap, mid cap, and small cap equity securities, as well as fixed income and alternative investments, including Real Estate Investment Trusts (""REITs""), limited partnerships, commodities, long/short equity, smart beta, or global macro strategies. The asset allocation strategy of the Fund deploys the Fund's assets among equity and fixed income securities based on the Advisor's internal technical and economic fundamental research.
Alternative investments are made when the strategy is in growth mode to balance equity risk or defensive mode to balance fixed income risk. The Fund may also use a sector rotation strategy, investing in Portfolio Funds that are invested in all sectors within the S&P 500 Index. The Portfolio Funds will then be overweight in sectors that are expected to outperform and underweight in sectors that are expected to underperform. A Portfolio Fund's investment portfolio is considered to be overweight when it holds proportionally more assets in a particular sector than the S&P 500 Index, and underweight when it holds proportionally fewer assets in a particular sector than the S&P 500 Index. A portfolio manager will sell a Portfolio Fund when a more attractive investment opportunity is identified, or the Fund's portfolio needs to be rebalanced according to its internal research.
The Fund may also use institutional research or internal research to select Portfolio Funds that invest in both domestic and international large cap equities and fixed income securities, principally consisting of bonds, corporate debt securities, and government securities. This portion of the Fund's strategy may invest in foreign securities, including foreign securities in emerging markets. The Portfolio Funds will not be limited in their investments by market capitalization or sector criteria. The Portfolio Funds in which a portfolio manager invests will have an investment objective similar to the Fund's or will otherwise hold permitted investments under the Fund's investment policies. Although the Fund principally invests in Portfolio Funds with no sales related expenses or very low sales related expenses, a portfolio manager is not precluded from investing in Portfolio Funds with sales-related expenses, redemption fees, and/or service fees.
The portfolio manager will sell a Portfolio Fund when a more attractive investment opportunity is identified, or the Fund's portfolio needs to be rebalanced. Decisions by a portfolio manager to sell other portfolio securities will be based upon institutional research. As a result of this strategy, the Fund may have a relatively high level of portfolio turnover compared to other mutual funds, which may affect the Fund's performance due to higher transaction costs and taxes. Portfolio turnover will not be a limiting factor in making investment decisions."
CMSYX Costs and Fees
CMSYX costs about $237 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.37%
- Gross expense ratio: 3.96%
- Portfolio turnover: 144%
- Brokerage commissions: 3.55 bps of average net assets (SEC N-CEN)
CMSYX Cashflows
Over the 12 months to 2021-08, Adaptive Tactical Outlook Fund had net inflows of $13.52M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-08 | −$345.32K |
| 2021-07 | $123.61K |
| 2021-06 | $2.02M |
| 2021-05 | $471.63K |
| 2021-04 | $463.21K |
| 2021-03 | $1.03M |
CMSYX Debt Constituents
No individual debt constituents are reported in Adaptive Tactical Outlook Fund's latest SEC N-PORT filing.
CMSYX Prospectus and SEC Filings
Official Adaptive Tactical Outlook Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-10-13
- Prospectus (485BPOS) — filed 2019-10-03
- Prospectus supplement (497) — filed 2021-09-23
- Portfolio holdings (N-PORT) — filed 2021-10-26
- Portfolio holdings (N-PORT) — filed 2021-07-29
- Portfolio holdings (N-PORT) — filed 2021-04-27
- Annual census (N-CEN) — filed 2021-08-10
- Annual census (N-CEN) — filed 2020-08-13
Related Funds
Other Total Return Allocation 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.