RQSI GAA Systematic Global Macro Instl
Name
As of 04/21/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-1.9%
1 yr return
-29.8%
3 Yr Avg Return
-7.8%
5 Yr Avg Return
-6.8%
Net Assets
$46.3 M
Holdings in Top 10
N/A
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.88%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 0.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$100,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/21/2023Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
RQSGX - Profile
Distributions
- YTD Total Return -1.9%
- 3 Yr Annualized Total Return -7.8%
- 5 Yr Annualized Total Return -6.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -1.97%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annually
Fund Details
-
Legal NameRQSI GAA Systematic Global Macro Fund
-
Fund Family NameRQSI
-
Inception DateMar 08, 2018
-
Shares Outstanding4498490
-
Share ClassInst
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerNeil Ramsey
Fund Description
The Fund allocates its assets among four macro or broad asset classes (equities, fixed income, commodities and currencies) by taking long and/or short positions in futures contracts based on instruments in each asset class.
The Fund may seek to gain exposure to the commodity markets, in whole or in part, through investments in a wholly owned subsidiary of the Fund organized under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary, unlike the Fund, may invest to a significant extent in commodity futures contracts. The Subsidiary may also invest in other instruments in which the Fund is permitted to invest, either as investments or to serve as margin or collateral for its derivative positions. The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary is advised by RQSI.
A futures contract is an agreement between two parties whereby one party agrees to sell and the other party agrees to buy a specified amount of an underlying instrument at an agreed upon price and time. Agreeing to buy the underlying instrument is called buying a futures contract or taking a long position in the contract. Likewise, agreeing to sell the underlying instrument is called selling a futures contract or taking a short position in the contract. As the owner of a long position in a futures contract, the Fund will benefit from an increase in the price of the underlying instrument, and, as the owner of a short position, the Fund will benefit from a decrease in the price of the underlying instrument.
Through its investments in futures contracts (both directly and indirectly through the Subsidiary), the Fund will principally have exposure to (i) large-cap equity markets, (ii) investment-grade government securities of any maturity, (iii) interest rates, (iv) commodities and (v) currencies.
Under normal conditions, the Fund will have exposure to the equity markets, government securities, interest rates or currencies of at least three countries, including the United States, and will have exposure to non-U.S. equity markets, government securities, interest rates and currencies (measured on a gross basis) equal to at least 40% (or, if conditions are not favorable, at least 30%) of its total assets. From time to time, the Fund may focus its investments in a particular geographic region, such as Europe or Asia. In addition, the Fund will have exposure to commodities including in the energy sector, metals sector, grains sector and meats and softs sector (i.e.,
agricultural commodities that are not included in the grains sector). All of the commodity positions are held in futures contracts that are denominated in US Dollars.
The Fund purchases and sells futures contracts based on trading and sizing signals generated by a proprietary systematic global asset allocation (“GAA”) investment model designed by the Adviser that combines various quantitative investment strategies (e.g. econometric, technical and relative value) to seek to generate returns across asset classes and investment timeframes.
The Fund’s use of futures contracts will have the economic effect of financial leverage. Financial leverage magnifies the exposure to the swings in prices of an instrument underlying a futures contract and results in increased volatility, which means that the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund did not use futures contracts. Leveraging tends to magnify, sometimes significantly, the effect of any increase or decrease in the Fund’s exposure to an instrument and may cause the Fund’s net asset value (“NAV”) to be volatile. A decline in the Fund’s assets due to losses magnified by futures contracts may require the Fund to liquidate portfolio positions to satisfy its obligations, to meet redemption requests or to meet asset coverage requirements under the Investment Company Act of 1940, as amended (the “1940 Act”), when it may not be advantageous to do so.
In order to meet the 1940 Act asset coverage requirements with respect to the use of futures contracts, and earn income, the Fund may hold significant amounts of cash and cash equivalents.
When taking into account instruments with a maturity of one year or less at the time of acquisition, the Fund’s strategy will result in frequent portfolio trading and high portfolio turnover.
The Fund is classified as “non-diversified,” which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.
RQSGX - Performance
Return Ranking - Trailing
Period | RQSGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.9% | -23.7% | 16.4% | 0.86% |
1 Yr | -29.8% | -8.9% | 48.3% | 17.17% |
3 Yr | -7.8%* | -2.2% | 16.4% | 90.65% |
5 Yr | -6.8%* | -0.7% | 13.4% | N/A |
10 Yr | N/A* | 0.9% | 11.8% | N/A |
* Annualized
Return Ranking - Calendar
Period | RQSGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -18.2% | -40.8% | 20.6% | 97.78% |
2022 | -5.9% | -21.0% | 24.5% | 84.28% |
2021 | -1.2% | -24.2% | 27.8% | 95.33% |
2020 | 0.8% | -23.1% | 11.7% | N/A |
2019 | N/A | -100.0% | 20.6% | N/A |
Total Return Ranking - Trailing
Period | RQSGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -1.9% | -23.7% | 16.4% | 0.86% |
1 Yr | -29.8% | -12.8% | 48.3% | 17.16% |
3 Yr | -7.8%* | -3.4% | 16.4% | 88.43% |
5 Yr | -6.8%* | -1.1% | 13.4% | N/A |
10 Yr | N/A* | 0.9% | 11.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | RQSGX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | -18.2% | -40.8% | 20.6% | 97.78% |
2022 | -5.9% | -21.0% | 24.5% | 84.28% |
2021 | -1.2% | -24.2% | 27.8% | 95.33% |
2020 | 0.8% | -23.1% | 11.7% | N/A |
2019 | N/A | -2.9% | 23.1% | N/A |
NAV & Total Return History
RQSGX - Holdings
Concentration Analysis
RQSGX | Category Low | Category High | RQSGX % Rank | |
---|---|---|---|---|
Net Assets | 46.3 M | 1.12 M | 110 B | 88.12% |
Number of Holdings | 39 | 2 | 10961 | 76.41% |
Net Assets in Top 10 | -14.4 M | -31.7 M | 22 B | 98.75% |
Weighting of Top 10 | N/A | 10.8% | 100.0% | 28.57% |
Top 10 Holdings
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
- 10 Year Treasury Note Future Mar 22 166.43%
Asset Allocation
Weighting | Return Low | Return High | RQSGX % Rank | |
---|---|---|---|---|
Cash | 185.58% | -97.12% | 185.58% | 0.21% |
Convertible Bonds | 0.00% | 0.00% | 25.49% | 81.21% |
Preferred Stocks | -0.03% | -0.03% | 14.00% | 99.79% |
Other | -0.06% | -1.25% | 197.12% | 99.16% |
Bonds | -39.76% | -39.76% | 93.84% | 99.79% |
Stocks | -45.72% | -45.72% | 98.42% | 99.79% |
Stock Sector Breakdown
Weighting | Return Low | Return High | RQSGX % Rank | |
---|---|---|---|---|
Financial Services | 21.09% | 0.00% | 30.34% | 8.49% |
Technology | 16.35% | 0.00% | 39.48% | 50.32% |
Basic Materials | 13.44% | 0.00% | 60.23% | 8.70% |
Consumer Cyclical | 11.06% | 0.00% | 20.84% | 35.24% |
Communication Services | 8.23% | 0.00% | 28.59% | 23.99% |
Healthcare | 7.36% | 0.00% | 30.30% | 74.31% |
Industrials | 6.71% | 0.09% | 32.39% | 85.99% |
Consumer Defense | 4.44% | 0.00% | 31.85% | 73.04% |
Utilities | 3.85% | 0.00% | 40.29% | 40.13% |
Real Estate | 3.82% | 0.00% | 90.14% | 50.32% |
Energy | 3.64% | 0.00% | 38.61% | 76.22% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | RQSGX % Rank | |
---|---|---|---|---|
US | 0.97% | -4.82% | 95.75% | 97.08% |
Non US | -46.69% | -46.69% | 57.06% | 99.79% |
RQSGX - Expenses
Operational Fees
RQSGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.88% | 0.16% | 2.71% | 13.15% |
Management Fee | 1.20% | 0.00% | 1.70% | 98.29% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
RQSGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 0.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
RQSGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 2.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
RQSGX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 0.00% | 0.00% | 441.00% | 0.24% |
RQSGX - Distributions
Dividend Yield Analysis
RQSGX | Category Low | Category High | RQSGX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 10.92% | 41.58% |
Dividend Distribution Analysis
RQSGX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annually | Annually | Monthly | Monthly |
Net Income Ratio Analysis
RQSGX | Category Low | Category High | RQSGX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.97% | -5.20% | 6.33% | 99.56% |
Capital Gain Distribution Analysis
RQSGX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 31, 2021 | $0.834 | OrdinaryDividend |
Dec 23, 2019 | $1.011 | OrdinaryDividend |
RQSGX - Fund Manager Analysis
Managers
Neil Ramsey
Start Date
Tenure
Tenure Rank
Mar 08, 2018
4.23
4.2%
Mr. Neil Ramsey is the Founder and serves as Chief Investment Officer and Chief Executive Officer at Ramsey Quantitative Systems. He is responsible for all investment activities for RQSI including development and approval of all trading strategies and portfolio/risk management and for providing overall strategic direction for RQSI. Mr. Ramsey is also responsible for managing all external investments for the firm with outside trading managers and has been allocating to external managers for over 25 years. Prior to forming RQSI, Mr. Ramsey was a consultant at the Boston Consulting Group, where he worked with both domestic and foreign multi-national corporations in strategy development. Mr. Ramsey holds an M.B.A. from Vanderbilt University and a B.E., summa cum laude, in Engineering from Vanderbilt University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.03 | 30.27 | 6.52 | 9.25 |