CPASX: Multi-Manager Alternative Strat A

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CPASX Multi-Manager Alternative Strat A


Profile

CPASX - Profile

Vitals

  • YTD Return 0.7%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return -3.1%
  • Net Assets $496 M
  • Holdings in Top 10 39.3%

52 WEEK LOW AND HIGH

$9.12
$8.76
$9.34

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.52%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 226.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 0.7%
  • 3 Yr Annualized Total Return 0.3%
  • 5 Yr Annualized Total Return -1.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.19%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Multi-Manager Alternative Strategies Fund Class A
  • Fund Family Name
    Columbia
  • Inception Date
    Apr 23, 2012
  • Shares Outstanding
    N/A
  • Share Class
    No Load
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Todd Munn

Fund Description

The fund pursues its investment objective by allocating the fund's assets among different asset managers that use multiple investment styles and strategies across different markets. The Investment Manager and the Subadvisers employ a variety of investment strategies, techniques and practices that are designed to seek positive returns, with a low correlation to the performance of the broad equity and fixed income markets over a complete market cycle. The fund may invest in early stage companies and initial public offerings (IPOs).


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Categories

CPASX - Mutual Fund Categories


Performance

CPASX - Performance

Return Ranking - Trailing

Period CPASX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -3.1% 3.7% 82.01%
1 Yr 4.0% -8.0% 30.3% 92.62%
3 Yr -0.1%* -9.0% 13.6% 89.27%
5 Yr -3.1%* -10.3% 9.1% 95.86%
10 Yr N/A* -2.1% 9.8% N/A

* Annualized

Return Ranking - Calendar

Period CPASX Return Category Return Low Category Return High Rank in Category (%)
2019 3.8% -7.3% 25.8% 95.31%
2018 -4.6% -32.7% 7.5% 4.03%
2017 0.5% -3.7% 29.4% 95.76%
2016 0.0% -43.7% 17.3% 90.61%
2015 -13.2% -40.3% 1.0% 95.59%

Total Return Ranking - Trailing

Period CPASX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.7% -3.1% 3.7% 82.01%
1 Yr 4.0% -8.0% 30.3% 92.34%
3 Yr 0.3%* -9.0% 13.6% 94.48%
5 Yr -1.5%* -10.3% 9.7% 97.48%
10 Yr N/A* -2.1% 11.6% N/A

* Annualized

Total Return Ranking - Calendar

Period CPASX Return Category Return Low Category Return High Rank in Category (%)
2019 3.8% -7.3% 25.8% 95.31%
2018 -3.4% -32.7% 7.5% 8.36%
2017 0.5% -3.7% 29.4% 97.23%
2016 0.0% -43.7% 20.7% 95.83%
2015 -6.7% -19.5% 6.2% 85.03%

NAV & Total Return History


Holdings

CPASX - Holdings

Concentration Analysis

CPASX Category Low Category High CPASX % Rank
Net Assets 496 M 1.73 M 116 B 60.84%
Number of Holdings 1040 51 4507 31.06%
Net Assets in Top 10 7.35 M -423 K 21.2 B 92.20%
Weighting of Top 10 39.31% 4.9% 251.0% 25.63%

Top 10 Holdings

  1. 3 Month Euribor TAS Future Mar20 9.81%
  2. 90 Day Eurodollar Future June20 7.31%
  3. 2 Year Treasury Note Future Mar20 3.77%
  4. Euro-Schatz Mar 20 3.53%
  5. 3 Month Euribor Future June20 2.98%
  6. AUST 3YR BOND MAR 20 2.63%
  7. 3 Month Euribor Future Sept20 2.58%
  8. WellCare Health Plans Inc 2.48%
  9. Zayo Group Holdings Inc 2.15%
  10. 5 Year Treasury Note Future Mar20 2.05%

Asset Allocation

Weighting Return Low Return High CPASX % Rank
Bonds
44.09% 20.05% 74.69% 24.65%
Stocks
34.65% 21.10% 79.10% 85.52%
Cash
15.06% -31.05% 50.88% 10.03%
Other
5.04% -3.06% 68.30% 11.98%
Preferred Stocks
0.59% 0.00% 20.71% 31.89%
Convertible Bonds
0.57% 0.00% 24.06% 33.29%

Stock Sector Breakdown

Weighting Return Low Return High CPASX % Rank
Healthcare
26.44% 0.00% 66.75% 1.12%
Technology
20.00% 0.00% 41.40% 19.21%
Consumer Cyclical
15.67% 0.00% 32.16% 3.51%
Industrials
14.36% 0.00% 36.11% 9.12%
Financial Services
7.73% 0.00% 41.89% 87.24%
Utilities
3.70% -0.17% 28.06% 39.69%
Consumer Defense
3.16% 0.00% 33.90% 88.08%
Communication Services
2.81% 0.00% 28.30% 73.07%
Basic Materials
2.46% 0.00% 16.11% 78.96%
Energy
2.30% -0.17% 41.94% 89.34%
Real Estate
1.36% -2.05% 85.64% 85.13%

Stock Geographic Breakdown

Weighting Return Low Return High CPASX % Rank
US
26.37% -0.12% 71.08% 67.13%
Non US
8.28% 0.00% 59.64% 77.72%

Bond Sector Breakdown

Weighting Return Low Return High CPASX % Rank
Cash & Equivalents
28.98% -20.20% 68.26% 9.05%
Government
27.92% -0.45% 99.55% 49.16%
Securitized
16.23% 0.00% 70.44% 36.35%
Corporate
15.66% 0.00% 99.77% 83.70%
Derivative
10.98% -4.16% 64.96% 7.66%
Municipal
0.22% 0.00% 99.78% 30.08%

Bond Geographic Breakdown

Weighting Return Low Return High CPASX % Rank
US
49.73% -0.51% 67.15% 4.74%
Non US
-5.64% -9.35% 43.71% 99.58%

Expenses

CPASX - Expenses

Operational Fees

CPASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.52% 0.07% 26.19% 27.91%
Management Fee 1.10% 0.00% 1.90% 97.77%
12b-1 Fee 0.25% 0.00% 1.00% 49.41%
Administrative Fee N/A 0.01% 0.83% 48.80%

Sales Fees

CPASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

CPASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 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.

CPASX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 226.00% 7.00% 474.00% 95.20%

Distributions

CPASX - Distributions

Dividend Yield Analysis

CPASX Category Low Category High CPASX % Rank
Dividend Yield 0.00% 0.00% 2.23% 97.49%

Dividend Distribution Analysis

CPASX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Quarterly Monthly Quarterly

Net Income Ratio Analysis

CPASX Category Low Category High CPASX % Rank
Net Income Ratio 2.19% -0.35% 6.29% 41.23%

Capital Gain Distribution Analysis

CPASX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

CPASX - Fund Manager Analysis

Managers

Todd Munn


Start Date

Tenure

Tenure Rank

Apr 23, 2012

7.69

7.7%

Munn is a portfolio manager of Water Island Capital, LLC. Prior to becoming a portfolio manager of the Fund, Mr. Munn was a senior equity analyst for the Fund. Mr. Munn received a Master of Business Administration degree from Fordham Graduate School of Business in 2003 and a Bachelors degree from Gettysburg College in 1993 — with a double major in Finance and Accounting.

Yao Ooi


Start Date

Tenure

Tenure Rank

Apr 23, 2012

7.69

7.7%

Yao Hua Ooi is a Principal at AQR Capital Management. He leads the Research and Portfolio Management teams focused on AQR’s macro and multi-strategy funds, including the firm’s Managed Futures, Global Macro, Alternative Risk Premia and Multi-Strategy products. His research has been published in the Journal of Financial Economics, the Journal of Portfolio Management, the Financial Analysts Journal and the Journal of Investment Management. He was named the 2013 Alternatives Fund Manager of the Year by Morningstar for his work on managed futures, and shared the 2013 Whitebox Prize for his work on time series momentum. Yao Hua earned a B.S. in economics and a B.S. in engineering from the Jerome Fisher Program in Management and Technology at the University of Pennsylvania, graduating summa cum laude.

John Liew


Start Date

Tenure

Tenure Rank

Apr 23, 2012

7.69

7.7%

Dr. Liew is a Founder and the head of the Global Asset Allocation team at of AQR, overseeing the research, portfolio management and trading associated with that strategy. Prior to AQR, he worked at Goldman, Sachs & Co. as a portfolio manager in the Asset Management Division where he developed and managed quantitative trading strategies. Dr. Liew began his career at Trout Trading, developing quantitative market-neutral stock-selection strategies. Dr Liew has published articles in The Journal of Portfolio Management and Financial Analysts Journal, and has received the Bernstein Fabozzi/Jacobs Levy award and the Graham and Dodd award for his articles. Dr. Liew is a member of the University of Chicago’s Board of Trustees and sits on the university’s investment committee. Dr Liew earned a B.A. in economics, an M.B.A. and a Ph.D. in finance from Chicago.

Roger Foltynowicz


Start Date

Tenure

Tenure Rank

Apr 23, 2012

7.69

7.7%

Roger Foltynowicz, CAIA, received a Master of Science degree from Pace University in 2006 – with a major in Investment Management – and a Bachelor's degree from Presbyterian College in 1999 – with a major in Business Administration.

Ari Levine


Start Date

Tenure

Tenure Rank

May 29, 2014

5.59

5.6%

Ari is a portfolio manager for AQR’s commodities and managed futures strategies, leading research efforts in both areas. His research on trend following techniques has been published in the Financial Analysts Journal. Ari earned a B.S. in finance and a B.S.E. and M.S.E. in electrical engineering from the Jerome Fisher Program in Management and Technology at the University of Pennsylvania.

Bryan Whalen


Start Date

Tenure

Tenure Rank

Mar 30, 2017

2.76

2.8%

Bryan T. Whalen, CFA Group Managing Director U.S. Fixed Income Mr. Whalen is a Generalist Portfolio Manager in the U.S. Fixed Income Group. Mr. Whalen joined TCW in 2009 during the acquisition of Metropolitan West Asset Management LLC (MetWest) as co-head of the Securitized Products division. Prior to joining TCW, Mr. Whalen was a partner and co-head of MetWest's Securitized Products division. Prior to joining MetWest in 2004, he was a director in the fixed income department at Credit Suisse First Boston in New York. Previously, he was a vice president at Donaldson, Lufkin & Jenrette. Mr. Whalen earned a BA in Economics from Yale University. He is a CFA charterholder.

Kisoo Park


Start Date

Tenure

Tenure Rank

Sep 13, 2017

2.3

2.3%

Kisoo Park is a managing director and portfolio manager on the Global Multi-Sector Fixed Income Team at Manulife Investment Management. He is responsible for portfolio management, global bond research and currency management for the company’s global multi-sector fixed income strategies. Kisoo joined Manulife Asset Management from a hedge fund firm based in Hong Kong, where he was a founding member and COO. Education: Tufts University, BA in Economics, 1986; University of Chicago, Graduate School of Business, 2007 Joined Company: 2011 Began Career: 1986

Robert Rickard


Start Date

Tenure

Tenure Rank

May 23, 2018

1.61

1.6%

As a Portfolio Manager at AlphaSimplex, Mr. Rickard is responsible for managing the cash portion of the firm’s strategies. He has over 25 years of industry experience. Mr. Rickard joined AlphaSimplex in 2015. Prior to this, Mr. Rickard served as the Senior Vice President, Head of Portfolio Management and Trading, and Portfolio Manager at Reich & Tang Asset Management, LLC. Mr. Rickard joined Reich & Tang Asset Management in 1992, and focused on the management of short-term assets. Mr. Rickard began managing the money market portion of AlphaSimplex’s products while at Reich & Tang Asset Management, and continues that work at AlphaSimplex. Mr. Rickard earned a B.S. in Accounting from Siena College and an M.B.A. from Pace University.

Philippe Lüdi


Start Date

Tenure

Tenure Rank

May 23, 2018

1.61

1.6%

As a Senior Research Scientist at AlphaSimplex, Dr. Lüdi conducts applied research and product engineering. He also serves as a co-portfolio manager of certain mutual funds advised by AlphaSimplex. Dr. Lüdi joined AlphaSimplex in 2006. He has been involved in system engineering as well as global macro strategies. Dr. Lüdi earned the equivalent of an M.A. in Molecular and Computational Biology from the University of Basel. He also received a M.Sc. in Statistics and a Ph.D. in Bioinformatics, both from Duke University. In his doctoral program, Dr. Lüdi applied a Monte Carlo approach to risk analysis and developed a machine-learning algorithm applied to medicine that was subsequently featured in The Wall Street Journal. Dr. Lüdi is also a CFA® Charterholder.

Alexander Healy


Start Date

Tenure

Tenure Rank

May 23, 2018

1.61

1.6%

As Deputy Chief Investment Officer of AlphaSimplex, Dr. Healy is responsible for applied research and product engineering, including asset allocation, portfolio construction, and adaptive risk management strategies. Dr. Healy is a member of the Investment and Risk Committees and the Board of Directors. He also serves as a co-portfolio manager of certain mutual funds advised by AlphaSimplex. Dr. Healy joined AlphaSimplex in 2007 and has held the roles of Senior Research Scientist and Director of Strategic Research. He has developed various key elements of AlphaSimplex’s investment platform, including non-parametric investment models, volatility management overlays, and dynamic approaches to portfolio construction. Dr. Healy earned an A.B. in Mathematics and Computer Science from Harvard University, where he also received a Ph.D. in Theoretical Computer Science. His doctoral research focused on the uses of randomness in algorithms and cryptography, and introduced novel approaches to generating pseudo-random numbers together with new applications of these methods.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 32.94 6.24 0.53