Separately Managed Accounts
F/m INTEGRATED ALPHA - Long/Short Equity
US Long/Short Equities
Seek long-term growth of capital with reduced downside risk and lower correlation to the broad equity markets.
January 1, 2016
40 to 50
50 to 60
Maximum Long Position Size
Maximum Short Position Size
Target gross long exposure
Target gross short exposure
target net long exposure
target gross portfolio exposure
BETA TO S&P 500
R-SQUARED TO S&P 500
≈ 35% - 40%
The preceding performance represents a single, proprietary, non-fee-paying account utilizing the F/m Integrated Alpha Long/Short Equity Strategy (the “Strategy”), managed by Francisco Bido, lead portfolio manager of Integrated Alpha Investments. Effective August 1, 2016 Francisco Bido became lead portfolio manager of the Strategy at a predecessor firm. The account is the sole account utilizing the Strategy.
Performance is time-weighted for each performance period and reflects the reinvestment of dividends and other earnings. Performance is net of all trading and operational expenses, including brokerage, administrative, interest, and custodial costs. Pro forma net performance illustrated herein assumes a 1% annual management fee, with fees deducted from historical gross returns on a pro rata monthly basis.
Actual results of individual accounts and products utilizing the Strategy, as well as account holdings, may vary due to client cash flows, timing of implementation, different custodians, the availability of underlying securities, regulation, and other factors. Small accounts may underperform other accounts utilizing the Strategy due to the potentially greater impact of transaction costs.
Historical performance was affected by material market and economic conditions that were independent of and not controlled by F/m Investments, LLC or Integrated Alpha Investments and may be different in the future.
The holdings in the strategy may differ significantly from the securities that comprise the index. For example, the S&P 500 may not hold short positions.
The index has not been selected to represent an appropriate benchmark with which to compare an investor’s performance, but rather is disclosed to allow for comparison of the investor’s performance to that of certain well-known and widely recognized index. You cannot invest directly in an index.
The mention of specific securities and sectors illustrates the application of our investment approach only and is not to be considered a recommendation by Integrated Alpha. There is no assurance that the securities purchased remain in the portfolio or that the securities sold have not been repurchased. Charts, diagrams, and graphs, by themselves, cannot be used to make investment decisions.
All securities investing involves the risk of loss. Past performance is no guarantee of future results. There can be no assurance that the Strategy can meet its stated objectives.
Investing in the Strategy entails the significant risks of equity investing. The Strategy utilizes leverage and short selling which may magnify any potential losses. The Strategy may invest in foreign securities via ADRs which can be riskier than investing in US securities. Frequent trading of the portfolio involves correspondingly higher expenses and may adversely affect the Strategy’s performance.