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iM DBi HEDGE STRATEGY ETF DBEH

DBi is focused on seeking to deliver hedge fund like performance with reasonable fees, daily liquidity and transparency.

Overview

Investment Objective

The fund seeks long-term capital appreciation. The fund will employ long and short positions in derivatives, primarily futures contracts and forward contracts, across the broad asset classes of equities, fixed income and currencies.

Sourcing

They identify hedge funds with robust data, a long history and strong performance and add back fees to net performance to calculate gross returns and adjust the returns for smoothing/outliers.

Initial screening process

They identify the key drivers of returns and screen factor universe for instruments that are liquid, efficient to trade.

DBi engine¹ analysis

They build what they believe is an optimized portfolio of liquid, exchange-traded instruments and their corresponding optimal weights.

¹The Dynamic Beta Engine is designed to identify the main drivers of performance of a diversified portfolio of the largest long/short equity hedge funds, which are hedge funds that employ fundamental analysis to buy or sell short individual equity securities to achieve their respective investment objectives (“Equity Hedge funds”). DBi has conducted extensive research into the drivers of performance of hedge funds and believes that individual security selection by the target Equity Hedge funds can deliver market outperformance over time through shifts in asset allocation among major equity markets.

How to invest

The iM DBi Hedge Strategy ETF is listed on the U.S. exchange NYSE Arca, similar to shares of publicly traded companies. Investors can buy and sell the iM DBi Hedge Strategy ETF through most traditional brokerage accounts. By using the fund ticker DBEH, your broker can place a multitude of order types including; limit orders, marker orders, and stop orders. The iM DBi Hedge Strategy ETF can be traded throughout normal NYSE Arca trading hours.

If you have any questions, contact our team:

team@partnerselectfunds.com | 925-254-8999

DUE DILIGENCE TOOLKIT

Managers

Dynamic Beta investments (DBi)

Andrew Beer

Founder and Managing Member of Dynamic Beta investments
Read the full manager bio

25 years of experience in the hedge fund business since joining the Baupost Group, Inc., one of the world’s premier hedge fund firms, as a portfolio manager.

In 2003, Andrew founded Pinnacle Asset Management, a leading commodity investment firm with approximately $3 billion under management today and recipient of numerous industry awards.

He was also a founder of Apex Capital Management, one of the first institutional-quality hedge funds focused on the Greater China region that peaked at approximately $1.5 billion in assets prior to the financial crisis.
Andrew holds a MBA from Harvard Business School as a Baker Scholar and his AB degree with high honors from Harvard College.

Mathias Mamou-Mani

Managing Member of Dynamic Beta investments
Read the full manager bio

15+ years of experience in asset management including 6 years at Dynamic Beta investments overseeing quantitative research including proprietary replication and liquid solution models, risk systems, and trade implementation.

From 2001 to 2006, Mathias worked as a consultant/project manager on critical information systems projects for the French Ministry of Defense, France Telecom, and Lafarge.
Mathias holds a MBA from the NYU Stern School of Business, with a specialization in Quantitative Finance, and degrees from the University of Paris Dauphine, France.

Matt Grayson, Ph.D

Scientific Advisor at Dynamic Beta investments
Read the full manager bio

35+ years of experience in mathematics, research and financial modeling, Matt is the author of numerous research papers on mathematics, including in the Annals of Mathematics. He was an academic mathematician with teaching positions at the University of California and Massachusetts Institute of Technology.

Matt was the Head of Research of DBi’s predecessor company from 2009-2012, where he oversaw development of Dynamic Beta investment’s proprietary models.

Prior to this, Matt was Managing Director at Morgan Stanley, where he was Global Head of Analytic Modeling Interest Rates and Currencies. Matt was also responsible for analytics for a range of mortgage-backed securities and similar instruments. He was also a Fixed Income proprietary trader at Goldman Sachs and the Head of the Quantitative Modeling Group for Fixed Income Research at Citigroup.

He received his Ph.D and Master’s degree in mathematics from Princeton University and his AB degree from Harvard College.

The New-York based team of Dynamic Beta investments (DBi) has over a decade of proprietary research into the drivers of hedge fund performance. The firm is an innovator in the liquid alternative space with its first factor based product launched in May 2007.

*Beta strategies are index-based investment strategies that seek to generate superior risk-adjusted returns through transparent quantitative techniques and rules-based criteria which are based on specific factors or attributes that drive investment returns.

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Performance

Select the set of performance tables to view.

AVERAGE ANNUAL TOTAL RETURN

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 of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 888-898-1041.

All of the assets and liabilities of the Predecessor Fund were transferred to the Fund in a reorganization on 09/20/2021.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount
or premium to NAV and are not individually redeemed from the Fund. Brokerage
commissions will reduce returns.

HFRX Equity Hedge Index is an index published by Hedge Fund Research, Inc. that is designed to reflect the performance of hedge funds that invest primarily in equities and equity derivatives. It is not possible to invest in an index.

Fund Data

Portfolio Holdings

  • To view our most recent portfolio holdings, please click here.

Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.

Premium/Discount Table as of 6/30/2021

Stay Informed

PartnerSelect Funds emails provide investors a way to stay in touch with us and receive information regarding the funds and investment principles in general. Topics may include updates on the funds and managers, further insights into our investment team’s processes, and commentary on various aspects of investing.

DISCLOSURE

The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, and it may be obtained by calling 800-960-0188 or visiting www.partnerselectfunds.com. Read it carefully before investing.

PartnerSelect DBi Hedge Strategy ETF Risks: Investing involves risk. Principal loss is possible. Because the Fund is not a hedge fund, the Fund will be limited in its ability to fully replicate hedge fund strategies due to regulatory requirements, including limitations on leverage and liquidity of the Fund’s investments.

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.

The Fund should be considered highly leveraged and is suitable only for investors with high tolerance for investment risk. Futures contracts and forward contracts can be highly volatile, illiquid and difficult to value, and changes in the value of such instruments held directly or indirectly by the Fund may not correlate with the underlying instrument or reference assets, or the Fund’s other investments. Derivative instruments and futures contracts are subject to occasional rapid and substantial fluctuations. Taking a short position on a derivative instrument or security involves the risk of a theoretically unlimited increase in the value of the underlying instrument. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Exposure to foreign currencies subjects the Fund to the risk that those currencies will change in value relative to the U.S. Dollar. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. Fixed income securities, or derivatives based on fixed income securities, are subject to credit risk and interest rate risk.

Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

A commission may apply when buying or selling an ETF.

Index Definitions | Industry Terms and Definitions

The PartnerSelect DBi Hedge Strategy ETF is distributed by ALPS Distributors, Inc.