CSMOX — Chiron SMid Opportunities Fund
Data updated: 2023-09-29
CSMOX — Chiron SMid Opportunities Fund. Emerging Markets Real Estate · $23.44M AUM · 1.20% expense ratio. Holdings, fees, performance and SEC filings.
CSMOX Fund Overview
CSMOX — Chiron SMid Opportunities Fund is a US mutual fund managed by Advisors' Inner Circle Fund III, categorised as Emerging Markets Real Estate. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Advisors' Inner Circle Fund III
- Category: Emerging Markets Real Estate
- Assets under management: $23.44M
- 1-year return: 4.8%
- Ticker: CSMOX
- SEC CIK: 0001593547
- SEC series ID: S000059101
- Share class ID: C000193763
CSMOX Investment Objective and Strategy
Chiron SMid Opportunities Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors' Inner Circle Fund III.
Investment objective
"The Chiron SMid Opportunities Fund (the ""Fund"") seeks long-term capital appreciation by pursuing a global investment strategy."
Principal investment strategy
"The Fund seeks to achieve its objective by investing, under normal market conditions, in companies located around the globe and at least 80% of its net assets, plus any borrowings for investment purposes, in securities issued by small to middle market capitalization companies. This investment policy may be changed by the Fund upon 60 days' prior written notice to shareholders. Small to middle market capitalization, or SMID, companies are companies with market capitalizations of $15.0 billion or less at the time of purchase. Securities in which the Fund may invest include common stock, including initial public offerings (""IPOs""), American Depositary Receipts (""ADRs""), Global Depositary Receipts (""GDRs""), Real Estate Investment Trusts (""REITs"") and exchange traded funds (""ETFs""). Chiron Investment Management, LLC (""Chiron"" or the ""Adviser""), the Fund's investment adviser, utilizes a ""quantamental"" approach, which combines quantitative and fundamental research.
The quantitative process seeks to identify opportunities for capital appreciation in various industries, sectors and geographic areas with the fundamental approach seeking to identify changes not captured by the quantitative research, such as regulatory environment and industry dynamics. As markets are not static and go through various stages where growth, value or growth at a reasonable price (also known as ""GARP,"" which is a combination of growth and value styles) may be rewarded, Chiron seeks to identify the current stage in each market in which it invests and makes investment decisions accordingly, in order to capitalize on the underlying factors driving that particular market stage. Chiron aims to reduce volatility and risk through diversifying its investment choices across a wide range of industries, sectors and geographic areas.
Chiron also uses a quantamental approach to security selection. The quantitative process will include factors to determine which style of equities are attractive (growth, value or GARP) and which particular issues are attractive within each style. Fundamental research then further investigates the particular issues for information and changes that quantitative research cannot capture including management behavior, regulatory environment and industry dynamics. The melding of this process contributes to the decision as to which securities are selected for the Fund and the appropriate weighting each should have within the Fund. Pursuant to its global investment strategy, the Fund has no geographic limits on where its investments may be located. Under normal market conditions, the Fund may allocate a substantial portion of its assets to non-U.S.
securities, including emerging market issuers. An emerging market country is any country determined by Chiron to have an emerging market economy. Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products than more developed countries. The Fund may use derivatives, including swaps, purchased options, futures and currency forward contracts, to attempt to both increase the return of the Fund and to hedge (protect) the value of the Fund's assets. The Fund may use swaps, purchased options and/or futures to create long equity exposure without investing directly in equity securities. The Fund may also use currency forwards to increase or decrease exposure to a given currency."
CSMOX Performance
Total returns for CSMOX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 4.8% |
| 3 years (annualised) | 7.0% |
CSMOX Risk Information
Risk metrics for CSMOX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 20.1%
CSMOX Costs and Fees
CSMOX costs about $120 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.20%
- Gross expense ratio: 1.48%
- Portfolio turnover: 463%
- Brokerage commissions: 55.35 bps of average net assets (SEC N-CEN)
CSMOX Cashflows
Over the 12 months to 2023-07, Chiron SMid Opportunities Fund had net inflows of $19.82M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-07 | $227.58K |
| 2023-06 | $10.16M |
| 2023-05 | $4.05M |
| 2023-04 | $116.83K |
| 2023-03 | $188.66K |
| 2023-02 | $204.75K |
CSMOX Debt Constituents
No individual debt constituents are reported in Chiron SMid Opportunities Fund's latest SEC N-PORT filing.
CSMOX Prospectus and SEC Filings
Official Chiron SMid Opportunities Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-02-28
- Prospectus (485BPOS) — filed 2022-02-28
- Prospectus supplement (497) — filed 2021-07-21
- Portfolio holdings (N-PORT) — filed 2023-09-29
- Portfolio holdings (N-PORT) — filed 2023-06-29
- Portfolio holdings (N-PORT) — filed 2023-03-31
- Annual census (N-CEN) — filed 2023-01-13
- Annual census (N-CEN) — filed 2022-01-11
Related Funds
Other Emerging Markets Real Estate 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.