Short Duration Fund
Investment Objective
Current Income.
Investment Strategy
Under normal market conditions, the Fund invests at least 80% of its assets in fixed income securities across a broad group of industries, geographies, and company market capitalizations. The Fund will primarily own corporate bonds of U.S. domiciled companies (both investment grade and below-investment grade, i.e., “high yield” or “junk” bonds) and can also own securities issued or guaranteed by the U.S. Government, its agencies or government-sponsored enterprises, money market instruments, mortgage-backed and asset-backed securities, loans, non-rated securities.
Differentiators
Integrated Research Team
In addition to quantitative screening, we leverage rigorous equity research into underlying companies to generate and evaluate fixed income investment ideas.
Agility
Our flexible mandate allows for discretion in our investments—whether they be treasuries, agencies, or corporate bonds across the credit spectrum, allowing us to respond to evolving market conditions.
Efficiency
Our relatively small size allows us to take advantage of debt offerings which may be inefficiently sized for large portfolios.
Fund Facts
Ticker:
VESDX
CUSIP:
92262L889
Inception Date:
Dec. 15, 2023
Benchmark:
Bloomberg 1-3 Yr Gov/Credit TR Index
Minimum Purchase:
$2,500
Expense Ratio:
0.69%
Period and Annualized Total Returns (%)
As of TBD
| QTD | 1 Year | Since Inception | |
|---|---|---|---|
| Class I | - | - | - |
| Bloomberg 1-3 Year Gov/Credit TR Index | - | - | - |
Performance data quoted represents past performance. Past performance does not guarantee future results. The 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. Investors may obtain performance data current to the most recent month-end by calling 833-399-1001.
Portfolio Characteristics
As of TBD
Fixed Income Sectors |
Fund |
Index1 |
| Corporate | 72.6 | 25.3 |
| U.S. Agencies | 11.5 | 2.7 |
| U.S. Treasuries | 12.4 | 66.7 |
| Other Government Related* | 0.00 | 5.4 |
| Cash & Equivalents | 3.5 | 0.0 |
Credit Rating (%) |
Fund |
Index1 |
| AAA | 0.0 | 3.9 |
| AA | 23.9 | 72.6 |
| A | 4.0 | 12.7 |
| BBB | 51.1 | 10.8 |
| BB | 15.5 | 0.0 |
| B | 2.0 | 0.0 |
| Cash & Equivalents | 3.5 | 0.0 |
Duration Distribution (%) |
Fund |
Index1 |
| 0-1 Years | 30.9 | - |
| 1-3 Years | 57.5 | - |
| 3-5 Years | 8.1 | - |
| >5 Years | 0.0 | - |
Maturity Distribution (%) |
Fund |
Index1 |
| 0-1 Years | 30.8 | 2.7 |
| 1-3 Years | 55.5 | 97.3 |
| 3-5 Years | 8.6 | 0.0 |
| >5 Years | 1.5 | 0.0 |
1Index (Bloomberg 1-3 Year Gov/Credit TR Index)
Investors should carefully consider the investment objectives, risks, and charges and expenses of the fund before investing. The prospectus contains this and other information about the fund, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling 833-399-1001.
The fund is distributed by Ultimus Fund Distributors, LLC. (Member FINRA). VELA Investment Management, LLC and Ultimus Fund Distributors, LLC are not affiliated.
Value stocks are those that are believed to be undervalued in comparison to their peers due to adverse business developments or other factors. Value investing is subject to the risk that the market will not recognize a security’s inherent value for a long time or at all, or that a stock judged to be undervalued may actually be appropriately priced or overvalued. In addition, during some periods (which may be extensive), value stocks generally may be out of favor in the markets.
The Fund may invest in high yield securities, also known as "junk bonds." High yield securities provide greater income and opportunity for gain, but entail greater risk of loss of principal.
The fund may invest in non-U.S. securities and U.S. securities of companies domiciled in non-U.S. countries that may experience more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies. These companies may be subject to additional risks, including political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, currency fluctuations, regulatory risk, higher transaction costs, delayed settlement, possible non-U.S. controls on investments, and less stringent investor protection and disclosure standards of U.S. markets.
Fixed income investments are affected by a number of risks, including fluctuation in interest rates, credit risk, and prepayment risk. In general, as prevailing interest rates rise, fixed income prices will fall.
The fund is newly organized and has little or no operating history. While the Adviser has experience in investment-related activities, the Adviser has limited experience managing registered investment companies.
Indexes are not available for direct investment. Index performance does not reflect the expenses associated with the management of an actual portfolio.
The Bloomberg Aggregate Bond Index broadly tracks the performance of the U.S. investment-grade bond market. The index is composed of investment-grade government and corporate bonds.