SCAFX — Fiera Capital STRONG Nations Currency Fund

SCAFX Fund Overview

SCAFX — Fiera Capital STRONG Nations Currency Fund is a US mutual fund managed by Trust For Professional Managers, categorised as Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Trust For Professional Managers
• Category: Bond
• Assets under management: $11.53M
• Ticker: SCAFX
• SEC CIK: 0001141819
• SEC series ID: S000037999
• Share class ID: C000117245

SCAFX Investment Objective and Strategy

Fiera Capital STRONG Nations Currency Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Trust For Professional Managers.

Investment objective

The Fiera Capital STRONG Nations Currency Fund (the Fund) seeks to generate positive returns with limited drawdowns over full market cycles and to provide investors with the diversification benefits of currencies as an asset class through investments in currencies that are associated with strong nations.

Principal investment strategy

The Fund seeks to provide investors with the diversification benefits of currencies as an asset class. Under normal market conditions, the Fund invests at least 80% of the value of its net assets (plus borrowings for investment purposes) in securities that expose the Fund to currencies of STRONG nations, as defined by the Advisers currency selection investment process set forth below. To achieve its investment objective, the Fund normally invests in short maturity sovereign bonds, provincial bonds, obligations of multilateral institutions and forward currency contracts. The Fund will invest in short-maturity bonds rated A- or A3 or better (or other comparable rating) by a nationally recognized statistical rating organization, or that are determined to be of comparable quality by the Adviser if the bond is unrated.

STRONG nations are nations and regions that share the following characteristics: S Sustainability Healthy Fiscal Trends T Transparency Readily Available Data R Regulatory Quality Rule of Law O Openness Freer Countries and FX (Foreign Exchange or Forex) Rates N National Fundamentals Healthier Economies and Financial Systems G Governance More Democratic The Advisers investment strategy is intended to limit volatility. The Advisers investment selection process identifies currencies for the Funds portfolio using an approach that combines top-down, bottom-up and quantitative analysis to examine the STRONG nations characteristics of a universe of nations that includes nations affiliated with the Organization for Economic Cooperation and Development (OECD), including developed nations and emerging markets.

The universe of STRONG nations from which the Adviser will make its investment selection for the Fund is composed of the current 34 OECD member countries, as well as those countries engaged in discussions to become OECD members, countries with enhanced engagement and those countries with OECD observer status. This universe currently includes nations that are considered emerging markets. However, the Adviser will only select those emerging markets that display the STRONG characteristics described in this Prospectus. Currencies are selected for the Funds investment portfolio by applying the Advisers evaluation of STRONG nations characteristics in combination with indicators produced by leading research centers around the world. The Fund may invest in approximately 8 to 12 currencies with roughly equal weightings, which the Adviser will rebalance on a monthly basis.

However, in certain cases smaller allocations may be made to nations that are strengthening and likely to become STRONG. The currencies may be invested in liquid, short-duration securities, mitigating interest rate risk and credit risk. The Fund may seek to hedge foreign currency exposures back in to the U.S. dollar during periods of dollar rally. The Fund is authorized to use various hedging and other strategic transactions. In pursuing its investment goal, the Fund may enter into derivative currency transactions, including currency forwards. The Fund's derivative transactions will typically be fully collateralized on a net basis. The Funds investments in derivative currency transactions may result in net short exposure to a particular currency that is not offset by a long position in another currency.

The Fund may use derivatives for many purposes, including for hedging, and as a substitute for direct investment in securities or other assets. The Fund is a non-diversified fund, meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities.

SCAFX Costs and Fees

SCAFX costs about $104 per $10,000 invested per year in fund expenses.

• Net expense ratio: 1.04%
• Gross expense ratio: 1.14%
• Portfolio turnover: 30%
• Brokerage commissions: 0.58 bps of average net assets (SEC N-CEN)

SCAFX Cashflows

Over the 12 months to 2019-11, Fiera Capital STRONG Nations Currency Fund had net inflows of $14.96M, from monthly SEC N-PORT filings.

SCAFX Debt Constituents

No individual debt constituents are reported in Fiera Capital STRONG Nations Currency Fund's latest SEC N-PORT filing.

SCAFX Prospectus and SEC Filings

Official Fiera Capital STRONG Nations Currency Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2019-01-02
• Prospectus (485BPOS) — filed 2018-01-10
• Prospectus (485BPOS) — filed 2017-01-06
• Portfolio holdings (N-PORT) — filed 2020-01-22
• Annual census (N-CEN) — filed 2020-11-12
• Annual census (N-CEN) — filed 2019-11-13
• Annual census (N-CEN) — filed 2018-11-13

Related Funds

Other Bond funds tracked on ABC INVEST:

• Great-West T. Rowe Price Equity Income Fund (MXTQX)
• Absolute Return Currency Fund (JCUAX)
• ICON Flexible Bond Fund (IOBCX)
• Tributary Growth Opportunities Fund (FOGRX)
• Oakhurst Fixed Income Fund (FWFIX)

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.