MASFX Performance — iMGP Alternative Strategies Fund, Institutional Class
Data updated: 2025-05-28
MASFX returned +4.91% over one year to Mar 2025. Annualised returns are +2.28% over 3 years and +4.77% over 5 years. Against its Long-Short Equity category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $107, against $110 for the category, and to $105 over one year, against $101. Volatility over the past three years was 4.76% a year. In the 12 months to Mar 2025 the fund lost a net $283.0M, and assets reached $337.33M.
MASFX Growth of $100
What $100 invested in iMGP Alternative Strategies Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Long-Short Equity category average over the same months.
| Period | MASFX | Category average |
|---|---|---|
| 1 year (Apr 2024 – Mar 2025) | $105 | $101 |
| 3 years (Apr 2022 – Mar 2025) | $107 | $110 |
| 5 years (Apr 2020 – Mar 2025) | $126 | $126 |
| Since data start (Jul 2019 – Mar 2025) | $117 | $121 |
MASFX Trailing Returns
Total returns to Mar 2025, from SEC N-PORT.
| Period | Total return |
|---|---|
| 1 year | +4.91% |
| 3 years (annualised) | +2.28% |
| 5 years (annualised) | +4.77% |
MASFX Annual Returns
Calendar-year total returns of iMGP Alternative Strategies Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2025 (Jan–Mar) | +1.23% |
| 2024 | +6.83% |
| 2023 | +5.92% |
| 2022 | −9.49% |
| 2021 | +3.83% |
| 2020 | +6.29% |
| 2019 (Jul–Dec) | +2.53% |
MASFX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | +1.0% | +0.5% | −0.3% | — | — | — | — | — | — | — | — | — |
| 2024 | +0.6% | +0.8% | +1.7% | −0.8% | +1.2% | +1.0% | +0.9% | +0.6% | +1.3% | −1.0% | +0.8% | −0.5% |
| 2023 | +2.1% | −1.0% | −0.4% | +0.5% | −0.9% | +1.8% | +1.0% | −0.1% | −0.5% | −1.1% | +2.3% | +2.2% |
| 2022 | −1.5% | −1.1% | −0.5% | −2.5% | −0.2% | −3.0% | +2.1% | −0.7% | −3.4% | +1.1% | 0.0% | −0.1% |
| 2021 | +0.6% | +1.5% | +0.4% | +1.3% | +0.5% | −0.2% | −0.4% | +0.5% | −0.7% | +0.7% | −1.4% | +1.0% |
| 2020 | +0.5% | −0.7% | −9.2% | +3.4% | +2.5% | +1.6% | +1.8% | +1.4% | −0.3% | +0.2% | +3.4% | +2.2% |
| 2019 | — | — | — | — | — | — | +0.5% | −0.2% | +0.3% | +0.4% | +0.6% | +0.9% |
MASFX Risk
Risk measures from monthly returns over Apr 2022 – Mar 2025.
- 3-year volatility (annualised): 4.76%
- 3-year Sharpe ratio: -0.47 (vs 4.5% risk-free rate)
- Best month: +2.29% (Nov 2023)
- Worst month: −3.35% (Sep 2022)
MASFX Fund Flows
Monthly money in and out of iMGP Alternative Strategies Fund, from SEC Form N-PORT.
- 12-month net flow: −$283.0M
- 12-month gross sales (incl. reinvestments): $98.9M
- Sales ÷ redemptions: 0.26×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Mar 2025 | $26.1M | $40.4M | −$14.3M |
| Feb 2025 | $4.1M | $45.7M | −$41.6M |
| Jan 2025 | $3.5M | $25.2M | −$21.6M |
| Dec 2024 | $5.3M | $17.2M | −$11.9M |
| Nov 2024 | $4.0M | $9.4M | −$5.3M |
| Oct 2024 | $10.9M | $11.6M | −$768K |
| Sep 2024 | $5.1M | $37.8M | −$32.6M |
| Aug 2024 | $5.3M | $55.8M | −$50.5M |
| Jul 2024 | $10.8M | $61.6M | −$50.8M |
| Jun 2024 | $3.7M | $23.7M | −$20.0M |
| May 2024 | $5.3M | $38.5M | −$33.2M |
| Apr 2024 | $14.8M | $15.1M | −$295K |
MASFX Assets Under Management
Net assets of iMGP Alternative Strategies Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2025-03-31 | $337.33M |
| 2024-12-31 | $414.29M |
| 2024-09-30 | $435.94M |
| 2024-06-30 | $561.41M |
| 2024-03-31 | $613.45M |
| 2023-12-31 | $683.28M |
| 2023-09-30 | $807.80M |
| 2023-06-30 | $903.04M |
| 2023-03-31 | $956.85M |
| 2022-12-31 | $1.02B |
| 2022-09-30 | $1.20B |
| 2022-06-30 | $1.37B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.