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Announcement DCI, Sub-Advisor to the Alternative Strategies Fund, Acquired by Blackstone

DCI, a pioneer in quantitative credit investing across the global investment-grade, high-yield, and emerging corporate credit markets, and a sub-advisor to PartnerSelect Alternative Strategies Fund, has agreed to be acquired by Blackstone (NYSE:BX). DCI will become part of Blackstone Credit, a global leader in private lending, syndicated leveraged loans, and collateralized loan obligations.

“There will be no substantive change for shareholders of the PartnerSelect Alternative Strategies Fund as a result of this acquisition. DCI will continue to manage their distinctive sleeve within our fund,” said Jason Steuerwalt, Litman Gregory Principal and Co-Portfolio Manager. DCI, based in San Francisco, applies a proprietary, fundamental-based, technology-driven model to deliver differentiated returns to clients. The firm is led by a team of seasoned professionals who are recognized experts in quantitative and systematic fixed-income research.

“We think DCI will benefit from access to the resources of the broader Blackstone Credit group,” Litman Gregory Chief Investment Officer and Co-Portfolio Manager Jeremy DeGroot added, “and we are particularly pleased that DCI’s strategy will continue to be exclusive to PartnerSelect Funds and our shareholders in a 40Act multi-manager vehicle, maintaining the unique profile and attributes of our fund.”

Tim Kasta, CEO of DCI, said: “Joining Blackstone Credit will provide DCI’s team and investors with access to unparalleled institutional resources and asset management expertise and accelerate the development of innovative solutions in corporate credit.”

For more information on the PartnerSelect Alternative Strategies Fund, please read the fund’s overview or contact our team and for more information on the DCI transaction with Blackstone, please read the announcement here.

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DISCLOSURE

PartnerSelect Fundsʼ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be viewed here or by calling 1-800-960-0188. Read it carefully before investing. Mutual fund investing involves risk. Principal loss is possible. Though not an international fund, the fund may invest in foreign securities. Investing in foreign securities exposes investors to economic, political and market risks, and fluctuations in foreign currencies. Investments in debt securities typically decrease when interest rates rise. This risk is usually greater for longer-term debt securities. Investments in mortgage-backed securities include additional risks that investor should be aware of including credit risk, prepayment risk, possible illiquidity, and default, as well as increased susceptibility to adverse economic developments. Investments in lower-rated and non-rated securities present a greater risk of loss to principal and interest than higher-rated securities. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. The fund may make short sales of securities, which involves the risk that losses may exceed the original amount invested. Multi-investment management styles may lead to higher transaction expenses compared to single investment management styles. Outcomes depend on the skill of the sub-advisors and advisor and the allocation of assets amongst them. Merger arbitrage investments risk loss if a proposed reorganization in which the fund invests is renegotiated or terminated. Leverage may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the fund to be more volatile than if leverage was not used. Diversification does not assure a profit nor protect against loss in a declining market. Index Definitions | Industry Terms and Definitions The PartnerSelect Funds are distributed by ALPS Distributors, Inc.