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The Fund seeks to achieve its investment objective principally by investing in the stock of 25 large cap growth firms selected by Merlin as being, in the opinion of Merlin, among the most attractive large cap growth firms, regardless of industry or sector. Merlin will seek to identify firms that are highly profitable and capable of sustainable earnings growth that Merlin believes will outpace that of the broader market and that trades at an attractive valuation relative to its expected earnings growth. All holdings will be individual US-listed equity securities, with market capitalization typically above $5 billion.
The process of selecting attractive investment opportunities with a 3-5 year outlook is a comprehensive multivariate approach combining bottom-up, top-down and quantitative evaluation combined with a macroeconomic overlay. The Fund's growth strategy is driven by individual stock selection and is typically over weighted towards those sectors that Merlin believes to be the most attractive and represent the best opportunity for growth, both in earning and stock price, and underweighted in (or has no exposure to) the least attractive sectors during any period of time. Merlin expects that, under normal market conditions, the holdings of the Fund will allocated equally across all holdings. Merlin expects to periodically rebalance the portfolio to account for relative changes in value across the portfolio holdings.
* The Fund inception was 8/18/2017. Not annualized since less than one year.
The performance information quoted above represents past performance, which is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For performance current to most recent month-end, please send a request to firstname.lastname@example.org, or call Shareholder Services at 1-800-773-3863.
The market price used to calculate the Market Value return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the Fund are listed for trading, as of the time that the Fund’s NAV is calculated. If you trade your shares at another time, your return may differ.
The Sub-Advisor has entered into an Expense Limitation Agreement with the Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Funds, if necessary, in an amount that limits the Fund’s annual operating expenses (exclusive of interest, taxes, brokerage fees and commissions, extraordinary expenses, acquired fund fees and expenses, and payments under the Rule 12b-1 distribution plan) to not more than 0.80% of the average daily net assets of the Fund through August 31, 2018. The Expense Limitation Agreement may not be terminated prior to that date. The Sub-Advisor cannot recoup from the Fund any amounts paid by the Sub-Advisor under the Expense Limitation Agreement. However, net annual operating expenses for the Funds may exceed those contemplated by the waiver due to expenses that are not waived under the Expense Limitation Agreement.
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