TERIX — All Terrain Opportunity Fund
Data updated: 2023-05-23
TERIX — All Terrain Opportunity Fund. Emerging Markets Blend / Core Equity · $247.35K AUM · 1.77% expense ratio. Holdings, fees, performance and SEC filings.
TERIX Fund Overview
TERIX — All Terrain Opportunity Fund is a US mutual fund managed by Investment Managers Series Trust II, categorised as Emerging Markets Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Investment Managers Series Trust II
- Category: Emerging Markets Blend / Core Equity
- Assets under management: $247.35K
- 1-year return: -1.8%
- Ticker: TERIX
- SEC CIK: 0001587982
- SEC series ID: S000046804
- Share class ID: C000146225
TERIX Investment Objective and Strategy
All Terrain Opportunity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Investment Managers Series Trust II.
Investment objective
"The investment objective of the All Terrain Opportunity Fund (the ""Fund"") is to seek capital appreciation with positive returns in all market conditions."
Principal investment strategy
"The Fund seeks to participate in gains in the U.S. and foreign markets in all market conditions and will attempt to minimize the impact of market losses during periods of extreme market stress. The Fund will make investments that the Fund's advisors believe offer a high probability of return, or, alternatively, a high degree of safety during uncertain market conditions. These investments include domestic and foreign equity securities of companies with market capitalizations over $200 million, and fixed income securities of domestic and foreign issuers (including emerging market companies) of any credit quality (including junk bonds) and duration, including U.S. Treasury securities, corporate bonds and other fixed income securities. The Fund may be long or short in these securities by taking positions in individual securities, individual stock options, index options, financial futures, exchange-traded funds (""ETFs""), inverse ETFs, currencies, or other investment companies.
Fixed income investments, other than U.S. Treasury securities, will generally be made through ETFs or other registered investment companies. The Fund may, from time to time, invest a significant portion of its assets in a single ETF or other registered investment company. The Fund may invest up to 50% of its assets in short sales or one or more inverse ETFs during adverse market conditions. The Fund is managed by Castle Financial & Retirement Planning Associates, Inc. (""Castle Financial""), and Bauer Capital Management, LLC (""Bauer Capital""), who serve as co-investment advisors and construct the Fund's portfolio (collectively referred to as the ""Advisors""). The Advisors work collaboratively to make investment decisions for the Fund, although each Advisor may make an investment decision independently when necessary if the other Advisor is not available.
The Advisors will tactically allocate the Fund's assets among securities using both fundamental and technical analysis to evaluate the relative strengths of and trends in the Fund's potential portfolio investments. Generally, Castle Financial provides fundamental analysis and Bauer Capital provides technical analysis. Castle Financial uses a fundamental methodology to screen for securities for the portfolio focusing on the overall earning potential of a company issuing stock, which may include analysis of financial statements, management, competitors, intangible values and product markets, among other factors. Bauer Capital uses a quantitative methodology to screen for securities for the portfolio focusing on financial valuation metrics such as ratios of price to free cash flow, price to operating income, earnings before interest and tax (""EBIT""), to enterprise value and other financial metrics.
Bauer Capital also evaluates potential securities using technical analysis including momentum, trading volumes, option flows, seasonality and proprietary technical indicators. The Advisors may from time to time focus on companies involved in corporate events such as spin-offs, share buybacks and public records of securities purchases and sales by corporate directors and officers. The Fund has no set holding period for any security and actively trades its portfolio investments, which may result in a high portfolio turnover rate. Securities are sold (or purchased back in the case of securities sold short) when they no longer meet the Advisors' target risk return profile. The Advisors attempt to control risk through various techniques including scaling in or out of positions, using position limits and using stop orders."
TERIX Performance
Total returns for TERIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -1.8% |
| 3 years (annualised) | 3.5% |
TERIX Risk Information
Risk metrics for TERIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.6%
TERIX Costs and Fees
TERIX costs about $177 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.77%
- Gross expense ratio: 2.44%
- Portfolio turnover: 1359%
- Brokerage commissions: 11.11 bps of average net assets (SEC N-CEN)
TERIX Cashflows
Over the 12 months to 2023-03, All Terrain Opportunity Fund had net inflows of $27.80M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2023-03 | $192.41K |
| 2023-02 | $5.21K |
| 2023-01 | $4.41K |
| 2022-12 | $80.19K |
| 2022-11 | $2.04M |
| 2022-10 | $754.87K |
TERIX Debt Constituents
No individual debt constituents are reported in All Terrain Opportunity Fund's latest SEC N-PORT filing.
TERIX Prospectus and SEC Filings
Official All Terrain Opportunity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-01-27
- Prospectus (485BPOS) — filed 2021-02-26
- Prospectus supplement (497) — filed 2022-02-07
- Portfolio holdings (N-PORT) — filed 2023-05-23
- Portfolio holdings (N-PORT) — filed 2023-02-27
- Portfolio holdings (N-PORT) — filed 2022-11-25
- Annual census (N-CEN) — filed 2022-12-13
- Annual census (N-CEN) — filed 2021-12-13
Related Funds
Other Emerging Markets Blend / Core Equity 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.