JACMX: James Alpha Mlt Strat Alt Inc C

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JACMX James Alpha Mlt Strat Alt Inc C


Profile

JACMX - Profile

Vitals

  • YTD Return 4.1%
  • 3 Yr Annualized Return 0.4%
  • 5 Yr Annualized Return -1.5%
  • Net Assets $13.7 M
  • Holdings in Top 10 23.3%

52 WEEK LOW AND HIGH

$9.36
$8.67
$9.36

Expenses

OPERATING RELATED FEES

  • Expense Ratio 5.53%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 414.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Multialternative

Distributions

  • YTD Total Return 4.1%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return 0.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.50%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    James Alpha Multi Strategy Alternative Income Portfolio
  • Fund Family Name
    Saratoga
  • Inception Date
    Sep 29, 2014
  • Shares Outstanding
    N/A
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Michael Montague

Fund Description

The Portfolio invests its assets in a combination of distinct investment strategies managed by different sub-advisers and, in some cases, by the Manager. The Manager is responsible for selecting and allocating assets among the Portfolio's investment strategies. The Manager is also responsible for selecting and overseeing one or more sub-advisers to manage each investment strategy. The Manager also has discretion to manage directly all or a portion of such investment strategies.


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Categories

Performance

JACMX - Performance

Return Ranking - Trailing

Period JACMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -18.3% 9.4% 7.38%
1 Yr 4.8% -48.7% 27.2% 74.30%
3 Yr 0.4%* -37.6% 12.4% 74.44%
5 Yr -1.5%* -39.4% 10.9% 85.21%
10 Yr N/A* -38.6% 17.3% N/A

* Annualized

Return Ranking - Calendar

Period JACMX Return Category Return Low Category Return High Rank in Category (%)
2019 10.2% -50.4% 46.8% 58.90%
2018 -7.5% -31.8% 19.0% 31.01%
2017 0.3% -44.7% 46.3% 90.93%
2016 1.0% -84.5% 146.1% 82.02%
2015 -12.0% -40.7% 14.6% 93.14%

Total Return Ranking - Trailing

Period JACMX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% -18.3% 9.4% 7.38%
1 Yr 4.8% -48.7% 27.2% 74.19%
3 Yr 2.7%* -37.6% 12.4% 68.82%
5 Yr 0.7%* -39.4% 10.9% 78.49%
10 Yr N/A* -38.6% 18.2% N/A

* Annualized

Total Return Ranking - Calendar

Period JACMX Return Category Return Low Category Return High Rank in Category (%)
2019 10.2% -50.4% 46.8% 60.09%
2018 -4.3% -27.4% 19.0% 28.46%
2017 3.8% -44.7% 46.3% 87.40%
2016 3.3% -84.5% 146.1% 78.95%
2015 -10.0% -36.9% 14.6% 93.42%

NAV & Total Return History


Holdings

JACMX - Holdings

Concentration Analysis

JACMX Category Low Category High JACMX % Rank
Net Assets 13.7 M 178 K 161 B 93.57%
Number of Holdings 298 2 13691 40.38%
Net Assets in Top 10 985 K -39.4 M 33.7 B 98.11%
Weighting of Top 10 23.25% 9.4% 371.8% 66.98%

Top 10 Holdings

  1. James Alpha Structured Credit Value S 5.26%
  2. iShares Russell 2000 Growth ETF 4.36%
  3. Allergan PLC 2.53%
  4. First Horizon National Corp 1.90%
  5. Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation 5.25% 1.89%
  6. IBERIABANK Corp 1.87%
  7. iShares Russell 2000 ETF 1.73%
  8. InterXion Holding NV 1.36%
  9. PGIM High Yield Bond Fund, Inc. 1.19%
  10. Liberty Property Trust 1.15%

Asset Allocation

Weighting Return Low Return High JACMX % Rank
Stocks
57.91% -41.01% 79.55% 32.81%
Bonds
20.34% -3.79% 79.18% 91.69%
Cash
16.04% -102.09% 77.18% 16.40%
Preferred Stocks
4.36% 0.00% 44.10% 8.94%
Convertible Bonds
0.99% -0.84% 71.85% 21.35%
Other
0.36% -41.44% 154.72% 32.81%

Stock Sector Breakdown

Weighting Return Low Return High JACMX % Rank
Real Estate
27.91% -2.05% 100.00% 3.83%
Technology
24.58% 0.00% 72.78% 4.16%
Healthcare
12.28% 0.00% 61.80% 68.35%
Energy
11.82% 0.00% 100.00% 6.46%
Consumer Cyclical
8.19% 0.00% 32.07% 64.40%
Financial Services
6.08% 0.00% 67.69% 91.89%
Industrials
3.99% 0.00% 99.44% 92.99%
Communication Services
2.03% 0.00% 32.16% 88.94%
Consumer Defense
1.29% 0.00% 25.21% 91.57%
Utilities
1.07% 0.00% 100.00% 80.94%
Basic Materials
0.76% 0.00% 100.00% 88.50%

Stock Geographic Breakdown

Weighting Return Low Return High JACMX % Rank
US
45.58% -41.02% 77.06% 40.69%
Non US
12.33% -2.63% 32.14% 10.20%

Bond Sector Breakdown

Weighting Return Low Return High JACMX % Rank
Corporate
44.63% 0.00% 100.00% 27.23%
Cash & Equivalents
40.63% -3.87% 100.00% 10.94%
Securitized
10.49% 0.00% 59.50% 61.72%
Government
2.41% -0.45% 93.76% 85.07%
Derivative
1.77% -3.25% 64.96% 17.14%
Municipal
0.06% 0.00% 99.77% 44.90%

Bond Geographic Breakdown

Weighting Return Low Return High JACMX % Rank
US
16.25% -5.05% 84.24% 92.32%
Non US
4.09% -12.68% 26.09% 37.33%

Expenses

JACMX - Expenses

Operational Fees

JACMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 5.53% 0.02% 5.91% 0.21%
Management Fee 2.00% 0.00% 2.00% 99.68%
12b-1 Fee 1.00% 0.00% 1.00% 88.48%
Administrative Fee 0.15% 0.01% 0.83% 59.93%

Sales Fees

JACMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load 1.00% 1.00% 5.50% 56.46%

Trading Fees

JACMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 1.00% 2.00% 37.25%

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.

JACMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 414.00% 0.00% 1504.00% 96.77%

Distributions

JACMX - Distributions

Dividend Yield Analysis

JACMX Category Low Category High JACMX % Rank
Dividend Yield 0.61% 0.00% 9.25% 12.93%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

JACMX Category Low Category High JACMX % Rank
Net Income Ratio -0.50% -4.40% 6.65% 96.37%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

JACMX - Fund Manager Analysis

Managers

Michael Montague


Start Date

Tenure

Tenure Rank

Sep 29, 2014

5.34

5.3%

Michael J. Montague serves as Chief Operating Officer ofJames Alpha Advisors, LLC and is responsible for daily operations of the Manager as well as independent risk monitoring for the Manager’s funds. Most recently Mr. Montague worked as a Portfolio Manager for a global macro fund primarily responsible for commodity research and trading. Mr. Montague previously served as a Portfolio Manager for Chapin Hill Advisors, Inc., overseeing asset allocation, trading, and investment activity. Prior to Chapin Hill Advisors, Mr. Montague served as a Portfolio Manager for the Cayuga MBA Fund LLC, a long/short equity hedge fund. He began his career with Schlumberger where he spent six years working as a Senior Geophysicist in Schlumberger’s Oilfield Services division.

Jakob Holm


Start Date

Tenure

Tenure Rank

Sep 29, 2014

5.34

5.3%

Jakob Holm serves as Co-Portfolio Manager of the Bullseye Disciplined Long Short Fund LP. He previously served as the Portfolio Manager at Janus Capital Management responsible for the Janus Adviser Small Company Value Fund, Janus Aspen Small Company Value Fund and separately managed portfolios in the Small Company Value discipline. While managing the Janus Adviser Small Company Fund, Mr. Holm generated outperformance relative to the Morningstar Small Cap Value Total Return Index 1 (annualized, net of fees) of 768 basis points, 327 basis points, and 239 basis points for the one year, three year, and five year periods, respectively. 2 According to MorningStar, the Janus Adviser Small Company Value fund ranked in the top quartile for the one year period, the top third for the three and five year periods, while Mr. Holm managed the fund. Prior to joining Janus in July 2005, Mr. Holm spent five years at Bay Isle Financial in Oakland, California, managing small-cap value portfolios since March 2002. In addition, he spent four years with Sand Hill Advisors in Menlo Park, California as a Research Analyst, covering a wide variety of industries including communications, financials, REITs, and technology. Mr. Holm received a master’s degree from Thunderbird School of Global Management, in international management focusing on finance, and earned a bachelor’s degree in economics from Augustana College where he graduated cum laude. He holds the Chartered Financial Analyst designation and is a member of the CFA Institute and the CFA Society of Colorado. Mr. Holm has 16 years of professional investment experience.

Kevin Greene


Start Date

Tenure

Tenure Rank

Sep 29, 2014

5.34

5.3%

Kevin R. Greene serves as a Managing Partner of James Alpha Advisors, LLC. Mr. Greene is the former Chairman & CEO of Capital Resource Holdings, LLC the holding company parent of CRA RogersCasey, one of the leading pension consulting firms in the United States. Prior to CRA RogersCasey, he founded Bryant Park Capital, a privately held investment bank specializing in private equity financing and mergers and acquisitions for both private and public companies in the United States and Europe. Since 1991, Mr. Greene has served as the Chairman and CEO of KR Group, an international consulting and investment banking firm which he founded.

James Vitalie


Start Date

Tenure

Tenure Rank

Sep 29, 2014

5.34

5.3%

James S. Vitalie serves as Chief Executive Officer of James Alpha Advisors, LLC . Formerly the Institutional Group Head of Old Mutual Capital serving on the Executive and Product Development Committees, Mr. Vitalie was responsible for distribution and marketing of mutual funds, separate accounts and registered hedge fund of fund products. Prior to Old Mutual, Mr. Vitalie was the President of Curian Capital, an industry leading managed account platform. At Curian, Mr. Vitalie created the infrastructure of the asset management firm, developed and executed its strategic plan, and served as the Chairman of the Investment Policy Committee. Additionally, Mr. Vitalie was President of Foliofn Institutional, a financial services and technology company. As President of Century Business Services (CBZ) Retirement and Wealth Management Services division Mr. Vitalie created the strategic direction of the company, led the acquisition and integration efforts for the division and established their broker dealer and registered investment advisor. While at CBZ Mr. Vitalie was also responsible for securing the financing and launching of Allbridge Solutions as well as serving as its President and COO. Prior to CBZ, Mr. Vitalie was a partner at The Benefits Group, where he was responsible for the pension and investment services group. Lastly, Mr. Vitalie practiced corporate transactional law at Eckert, Seamans, Cherin & Mellott. Mr. Vitalie is also an officer of the Trust.

George Kellner


Start Date

Tenure

Tenure Rank

May 11, 2015

4.73

4.7%

Mr. Kellner founded Kellner DiLeo & Co., LP (the predecessor entity to Kellner) in 1981. Prior to Kellner, Mr. Kellner was a Senior Vice President and founded the arbitrage department of Donaldson, Lufkin & Jenrette. Before commencing his arbitrage career, Mr. Kellner was a Vice President and House Counsel of the Madison Fund where he had broad responsibilities as a financial analyst and portfolio manager. Mr. Kellner began his professional career as a securities lawyer at the Wall Street law firm of Carter, Ledyard and Milburn and holds a B.A. from Trinity College, a J.D. from Columbia Law School and an M.B.A. from New York University’s Leonard Stern Graduate School of Business. He is a Chartered Financial Analyst and a former Adjunct Assistant Professor of Finance at New York University. Mr. Kellner is a member of the Firm's multi-strategy fund investment committee.

Christopher Pultz


Start Date

Tenure

Tenure Rank

May 11, 2015

4.73

4.7%

Mr. Pultz joined Kellner Capital in 1999 and leads the Firm’s merger arbitrage investing activities. In addition, Mr. Pultz is a member of the Firm’s management committee where he provides broad input on strategic matters. Mr. Pultz began his career at Neuberger Berman LLC where he was a government bond trader and also provided allocation recommendations to the Firm’s internal investment management teams. Mr. Pultz holds a B.S. in finance from Fairfield University and an M.B.A from Fordham University Graduate School of Business.

Salvatore Naro


Start Date

Tenure

Tenure Rank

Nov 29, 2017

2.17

2.2%

Sal Naro is Managing Member, Chief Executive Officer, and Chief Investment Officer of Coherence, which he founded in January 2012. Prior to Coherence Capital Partners, Sal was the vice chairman of Jefferson National Financial Corp and CEO of Jefferson National Asset Management from March thru December of 2011. From October 2008 to March 2011, Sal was an executive vice president and head of the acquisitions committee at Markit Group, a leading financial services technology firm. Prior to Markit, Sal was the co-ceo and president of Sailfish Capital Partners, LLC. Prior to Sailfish, Sal worked at UBS Investment Bank where he was a managing director and the global co-head of fixed income. He was also a member of the board of directors of UBS Investment Bank. Prior to joining UBS, he was a senior managing director and global head of credit trading at Bear Stearns from 1989 to 1998. While at UBS and Bear Stearns, he managed an investment team and traded a significant proprietary book. Sal also served on the global risk committees of both firms. He began his career on Wall Street in 1982 as a fixed income associate for Dreyfus. Sal is a 1983 graduate of C.W. Post College of Long Island University and currently sits on the board of trustees of Long Island University.

Vincent Mistretta


Start Date

Tenure

Tenure Rank

Nov 29, 2017

2.17

2.2%

Vincent Mistretta is the President and Co-Senior Portfolio Manager, Chairman of Offshore Board of Coherence, which he joined in January 2012. Prior to Coherence Capital Partners, Vincent was the Senior Portfolio Manager at Jefferson National Asset Management. Prior to Jefferson National, Vincent was a Founding Partner and Portfolio Manager at L Plus LLC, an asset management company. Prior to L Plus, Vincent worked at UBS Investment Bank where he was a Managing Director and Head of Global Credit Strategies (GCS), a multi-strategy proprietary investment business he founded in 2006. Prior to establishing GCS, Vincent was the Global COO for Credit Fixed Income from 2004 to 2005 and Head of U.S. credit derivatives trading from 2003 to 2004. During his time at UBS, Vincent was a member of the Board of Directors of ISDA (International Swaps Dealers Association 2005-2006) and Markit Group (2004-2005). Vincent also served on several management committees and was instrumental in recruiting new talent to UBS. Prior to joining UBS, Vincent held senior trading and portfolio management positions at SAC Capital Advisors (2001-2002), HSBC (2000-2001), DLJ(1998-2000) and Bear Stearns (1986-1998). Vincent is a 1986 graduate of Bucknell University where he earned a Bachelor of Arts Degree in Economics.

Michael Cannon


Start Date

Tenure

Tenure Rank

Nov 29, 2017

2.17

2.2%

Michael Cannon is Senior Portfolio Manager at Coherence, which he joined in January 2014. Prior to joining Coherence, Mr. Cannon was with UBS Investment Bank for 16 years, most recently as Managing Director and Co-Head of Investment Grade Credit Trading.

Akos Beleznay


Start Date

Tenure

Tenure Rank

Jun 07, 2018

1.65

1.7%

Akos Beleznay serves as Chief Investment Officer of James Alpha Advisors, LLC and is responsible for managing research and asset allocation for the firm. Prior to joining James Alpha Advisors, LLC, Mr. Beleznay was the Chief Investment Officer at Riverside, the asset management arm of HFR (Hedge Fund Research, Inc.) managing over one billion dollars of fund of hedge fund products. Before Riverside, Mr. Beleznay served as the Chief Investment Officer at Commerce Asset Management and CSG Asset Management with responsibility for managing funds of hedge funds and a hedge fund index replication product. Mr. Beleznay also served as the Director of Consulting Research for Equitas Capital Advisors, LLC from 2002 to 2010 and the Chief Investment Officer of Equitas Evergreen Fund LP, a fund of hedge funds with $300 million in assets, from 2003 to 2010. Mr. Beleznay has a PhD degree in Physics from Eotvos Lorand University, Hungary and an MBA from Tulane University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 36.11 6.63 0.08