Performance

Total Returns for the Period Ending 06.28.2019

 1 Month3 MonthYTDSince Inception*
Vivaldi Opportunities Fund (Net Asset Value)0.91%7.83%5.35%5.85%
Vivaldi Opportunities Fund (Market Price)-0.84%3.09%1.66%4.84%
S&P 500 Total Return Index7.05%18.54%10.42%10.56%
Barclays Agg. Bond Index1.26%6.11%7.87%8.66%

* Performance figures are reflective of the NYSE listing: 5/10/2018
**The Fund’s total annual expenses are 4.26%

Performance data quotes represent past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Investment return and principal value will fluctuate, and upon redemption shares may be worth more or less than the original investment.

Fund inception date is October 2, 2017. The Fund was initially launched as a non-diversified, closed-end management company. The Fund began trading on the New York Stock Exchange on May 10, 2018.

Market Price is the price that the fund closed at on the primary listing exchange on the as of date referenced above.

Net Asset Value is as of the date referenced above and equals the value of all the fund’s assets (less liabilities) divided by the number of shares outstanding.

Premium/Discount is the percentage difference between the net asset value of a fund and the market price.

S&P 500® Total Return Index (SPTR): A market value weighted index of 500 stocks chosen for market size, liquidity and industry grouping, among other factors. This index is designed to be a leading indicator of U.S. equities and is meant to reflect the risk/return characteristics of the large cap universe. This index reflects the effects of dividend reinvestment.

Asset Allocation

As of 06.28.2019**

Asset AllocationLongShortNet
Credit39.71%7.45%32.26%
Interest Sensitive1.65%0.00%1.65%
Other0.02%0.00%0.02%
US Equity36.53%24.92%11.61%
INT Equity4.22%3.04%1.18%
EM Equity0.49%0.00%0.49%
Cash*11.39%0.17%11.22%
BDCs1.18%0.00%1.18%
SPACs1.83%0.00%1.83%
Baby Bonds0.87%0.00%0.87%
Alternatives0.00%0.00%0.00%
Total97.88%35.59%62.29%

* Cash value does not include cash held against short positions.
** Assets are subject to change at any time.

For Additional Details On the Vivaldi Opportunities Fund Strategy: