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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

Invenomic Fund

BIVSX | Fund

$20.02

$1.11 B

0.00%

2.91%

Vitals

YTD Return

14.0%

1 yr return

15.9%

3 Yr Avg Return

20.7%

5 Yr Avg Return

N/A

Net Assets

$1.11 B

Holdings in Top 10

27.2%

52 WEEK LOW AND HIGH

$19.9
$17.28
$26.27

Expenses

OPERATING FEES

Expense Ratio 2.91%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 179.00%

Redemption Fee 1.00%


Min Investment

Standard (Taxable)

$50,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

Invenomic Fund

BIVSX | Fund

$20.02

$1.11 B

0.00%

2.91%

BIVSX - Profile

Distributions

  • YTD Total Return 14.0%
  • 3 Yr Annualized Total Return 20.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.04%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Invenomic Fund
  • Fund Family Name
    Balter
  • Inception Date
    May 10, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Ali Motamed

Fund Description

The Fund invests primarily in both long and short positions in equity securities principally traded in United States markets. Under normal market conditions, the Adviser seeks to be fully invested in the long portfolio (greater than 80%), while allowing the size of the short portfolio to fluctuate based on the market opportunity.

The long positions are identified by the Fund’s adviser, Invenomic Capital Management, LP (the “Adviser”) as securities that are both undervalued and timely, where the Adviser believes that the return potential compensates for the risk involved. The short positions are identified as securities that the Adviser believes are overvalued and that the price of the security will fall, delivering both a positive return for the Fund while simultaneously reducing the overall risk of the portfolio. The Adviser evaluates long and short positions on multiple characteristics to determine inclusion in the overall portfolio. The Adviser establishes price targets for each position, which are updated frequently. The Adviser monitors these positions and will seek to sell or cover a position when it believes that the security no longer has an attractive risk/return profile. The Adviser will maintain a diversified orientation and seek to construct a portfolio that has less volatility than the U.S. equity markets in general. Further, under normal circumstances, it is expected that the Fund’s long positions will not exceed approximately 125% of the Fund’s net assets.

The Fund may invest in equity securities of any type and across all market capitalizations. Equity securities in which the Fund may invest may include exchange-traded and over-the-counter common and preferred stocks, warrants, rights, convertible securities, depositary receipts, limited partnership interests, shares of other investment companies, including exchange-traded funds, and real estate investment trusts (“REITs”). The Fund may invest, from time to time, a significant portion of its assets in smaller issuers which are more volatile and less liquid than investments in issuers with larger market capitalizations. The Fund’s long and short positions may involve (without limit) equity securities of foreign issuers that are traded in the markets of the United States, either directly or through American Depositary Receipts (“ADRs”), European Depository Receipts (“EDRs”), Global Depositary Receipts (“GDRs”) or International Depositary Receipts (“IDRs”). The Fund may also invest up to 35% of its total assets directly in equity securities of foreign issuers that are traded outside of the United States. In general, the Fund’s investments are broadly diversified over a number of industries and, as a matter of policy, the Fund is limited to investing less than 25% of its total assets in any one industry.

The Fund may invest in securities of companies operating less than three years (“unseasoned issuers”) and in initial public offerings (“IPO”) of securities.

The Fund may invest up to 20% of its net assets in high yield debt obligations, such as bonds and debentures, used by corporations and other business organizations. High yield debt obligations are referred to as “junk bonds” and are not considered to be investment grade. The Fund may invest up to 15% of its net assets in illiquid securities, including securities that are illiquid by virtue of the absence of a readily available market or legal or contractual restrictions on resale.

The Fund may achieve certain investment exposures, including short positions, through derivative transactions, including options on securities and options on indices. The Fund may use derivatives to enhance total return or to hedge against fluctuations in securities prices and currency exchange rates. When the Fund enters into derivative transactions, it may be required to segregate assets, or enter into offsetting positions, in accordance with applicable regulations.

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BIVSX - Performance

Return Ranking - Trailing

Period BIVSX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.0% -11.7% 21.8% 3.61%
1 Yr 15.9% -34.8% 22.0% 1.04%
3 Yr 20.7%* -17.9% 20.7% 0.58%
5 Yr N/A* -13.0% 13.1% N/A
10 Yr N/A* -6.9% 11.5% N/A

* Annualized

Return Ranking - Calendar

Period BIVSX Return Category Return Low Category Return High Rank in Category (%)
2022 40.9% -54.0% 40.9% 0.54%
2021 4.1% -22.5% 24.1% 36.52%
2020 N/A -19.4% 24.1% N/A
2019 N/A -8.4% 12.9% N/A
2018 N/A -14.0% 7.1% N/A

Total Return Ranking - Trailing

Period BIVSX Return Category Return Low Category Return High Rank in Category (%)
YTD 14.0% -25.0% 21.8% 3.61%
1 Yr 15.9% -34.8% 22.0% 1.04%
3 Yr 20.7%* -17.9% 20.7% 0.58%
5 Yr N/A* -12.9% 14.1% N/A
10 Yr N/A* -6.5% 11.5% N/A

* Annualized

Total Return Ranking - Calendar

Period BIVSX Return Category Return Low Category Return High Rank in Category (%)
2022 40.9% -54.0% 40.9% 0.54%
2021 4.1% -22.5% 24.1% 36.52%
2020 N/A -19.4% 24.1% N/A
2019 N/A -8.4% 12.9% N/A
2018 N/A -14.0% 15.9% N/A

NAV & Total Return History


BIVSX - Holdings

Concentration Analysis

BIVSX Category Low Category High BIVSX % Rank
Net Assets 1.11 B 818 K 5.18 B 7.04%
Number of Holdings 317 3 2670 14.66%
Net Assets in Top 10 139 M -175 M 1.1 B 21.47%
Weighting of Top 10 27.21% 1.5% 100.0% 78.26%

Top 10 Holdings

  1. First American Government Obligs X 4.89%
  2. Heidrick & Struggles International Inc 3.55%
  3. Naked Wines PLC 3.43%
  4. Naked Wines PLC 3.43%
  5. Naked Wines PLC 3.43%
  6. Naked Wines PLC 3.43%
  7. Naked Wines PLC 3.43%
  8. Naked Wines PLC 3.43%
  9. Naked Wines PLC 3.43%
  10. Naked Wines PLC 3.43%

Asset Allocation

Weighting Return Low Return High BIVSX % Rank
Cash
64.52% -67.46% 106.99% 18.42%
Stocks
35.49% -2.90% 119.13% 80.73%
Preferred Stocks
0.00% 0.00% 7.60% 93.68%
Other
0.00% -35.22% 39.56% 85.26%
Convertible Bonds
0.00% -0.02% 4.68% 93.68%
Bonds
-0.02% -48.31% 152.17% 95.31%

Stock Sector Breakdown

Weighting Return Low Return High BIVSX % Rank
Technology
18.28% 0.00% 43.24% 47.06%
Healthcare
15.31% 0.00% 100.00% 44.71%
Consumer Cyclical
13.64% 0.00% 88.83% 25.29%
Consumer Defense
10.97% 0.00% 33.38% 17.06%
Basic Materials
10.30% 0.00% 28.58% 7.65%
Communication Services
9.86% 0.00% 32.32% 17.65%
Industrials
8.69% 0.00% 31.93% 62.35%
Financial Services
6.23% 0.00% 83.83% 82.94%
Energy
5.44% 0.00% 32.57% 37.06%
Utilities
1.18% 0.00% 24.21% 62.94%
Real Estate
0.11% 0.00% 14.21% 77.06%

Stock Geographic Breakdown

Weighting Return Low Return High BIVSX % Rank
Non US
23.29% -43.01% 97.78% 13.16%
US
12.20% -24.26% 116.70% 86.84%

BIVSX - Expenses

Operational Fees

BIVSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.91% 0.40% 11.46% 10.10%
Management Fee 1.74% 0.00% 2.50% 92.50%
12b-1 Fee 0.00% 0.00% 1.00% 26.55%
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

BIVSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

BIVSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 1.00% 0.50% 2.00% 85.19%

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.

BIVSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 179.00% 0.00% 479.00% 68.03%

BIVSX - Distributions

Dividend Yield Analysis

BIVSX Category Low Category High BIVSX % Rank
Dividend Yield 0.00% 0.00% 10.85% 94.00%

Dividend Distribution Analysis

BIVSX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Annually

Net Income Ratio Analysis

BIVSX Category Low Category High BIVSX % Rank
Net Income Ratio -1.04% -3.33% 2.88% 61.73%

Capital Gain Distribution Analysis

BIVSX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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BIVSX - Fund Manager Analysis

Managers

Ali Motamed


Start Date

Tenure

Tenure Rank

Jun 19, 2017

4.95

5.0%

Prior to founding Invenomic, Ali was Co-Portfolio manager of the Boston Partners Long/Short Equity Fund. He was awarded Portfolio Manager of the Year in the Alternatives Category by Morningstar in 2014. Prior to joining Boston Partners, he was a member of the global mergers and acquisitions teams at Deutsche Bank and BT Wolfensohn. Mr. Motamed holds a B.A. degree in economics with a minor in accounting from the University of California, Los Angeles, and a M.B.A. degree from Harvard Business School. He holds the Chartered Financial Analyst designation.

Benjamin Deschaine


Start Date

Tenure

Tenure Rank

Jun 19, 2017

4.95

5.0%

Benjamin R. Deschaine, Senior Research Analyst of BCM and the Adviser, is a co-portfolio manager of the Fund. Prior to 2012, Mr. Deschaine was a Managing Director at Sabretooth Capital Management, LLC, a global multi-strategy hedge fund affiliated with Tiger Management and a Portfolio Manager and Senior Analyst at Federal Street Advisors

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 5.91 7.93