FQ Long-Short Equity Fund  (MEQFX)

Fund Overview

Fund Overview

Share Class

I

  • I

NAV | as of 10/18/2019

$15.93
-$0.03 (-0.19%)

Growth of $10,000 (Hypothetical)

Since Inception 08/14/1992 to 09/30/2019 = $90,470.43

  • 3YR
  • 5YR
  • 10YR
  • INCEP.
INCEP.
  • 3YR
  • 5YR
  • 10YR
  • INCEP.

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown.

Objective

The Fund seeks long-term capital appreciation by gaining long and short exposure to stocks of U.S. companies.

Why Consider

  • The Fund invests in long and short equity positions in sectors, industries and companies based on the subadviser's assessment of relative attractiveness
  • Implements a systematic portfolio protection structure through an option overlay strategy and reduced exposure during periods of stressed markets
  • Constructs portfolio using a proprietary multi-factor quantitative model that combines a top-down analysis of market and economic conditions with a bottom-up stock selection process

Documents

View All Documents
Jia Ye, Ph.D.

Jia Ye, Ph.D.

Partner, Investments

See Our Approach Read Bio
David Chrisman, Ph.D., CFA

David Chrisman, Ph.D., CFA

Director, Investments

See Our Approach Read Bio

Performance

Performance

Read Important Investment Disclosures

Returns

 

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized.

Expense Ratios

  • Gross Expense Ratio: 0.86%
  • Net Expense Ratio: 0.75%
  • Expense Cap Expiration Date: 03/01/2020

Distributions & Pricing


    • Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains
      Sep 26, 2019 $0.012900 $0.012900
      Jun 26, 2019 $0.017400 $0.017400
      Mar 27, 2019 $0.028800 $0.028800
      Dec 27, 2018 $0.505700 $0.091000 $0.414700
      Dec 27, 2017 $4.155500 $2.993000 $1.162500
      Sep 26, 2017 $0.029600 $0.029600
      Jun 27, 2017 $0.029600 $0.029600
      Mar 28, 2017 $0.097700 $0.097700
      Dec 27, 2016 $0.820400 $0.068600 $0.141100 $0.610700
      Sep 27, 2016 $0.045000 $0.045000
      Jun 27, 2016 $0.046700 $0.046700
      Mar 28, 2016 $0.045600 $0.045600
      Dec 28, 2015 $1.632500 $0.048500 $1.584000
      Sep 25, 2015 $0.038400 $0.038400
      Jun 25, 2015 $0.044000 $0.044000
      Mar 26, 2015 $0.086100 $0.086100
      Dec 26, 2014 $0.052500 $0.052500
      Sep 25, 2014 $0.045000 $0.045000
      Jun 25, 2014 $0.045000 $0.045000
      Mar 26, 2014 $0.040000 $0.040000
      Dec 26, 2013 $0.056200 $0.056200
      Sep 25, 2013 $0.043000 $0.043000
      Jun 25, 2013 $0.060000 $0.060000
      Mar 25, 2013 $0.050000 $0.050000
      Dec 26, 2012 $0.090000 $0.090000
      Sep 25, 2012 $0.065100 $0.065100
      Jun 26, 2012 $0.060100 $0.060100
      Mar 27, 2012 $0.070100 $0.070100
      Dec 27, 2011 $0.167000 $0.167000
      Dec 28, 2010 $0.116000 $0.116000
      Dec 28, 2009 $0.136600 $0.136600
      Dec 26, 2008 $0.147600 $0.147600
      Dec 26, 2007 $1.767500 $0.153500 $0.480300 $1.133700
      Dec 26, 2006 $1.672800 $0.157200 $0.676500 $0.839100
      Dec 27, 2005 $0.696000 $0.184000 $0.512000
      Jan 13, 2005 $0.002500 $0.002500
      Dec 17, 2004 $0.147900 $0.147900
      Dec 19, 2003 $0.078630 $0.078630
      Dec 20, 2002 $0.083000 $0.083000
      Dec 20, 2001 $0.070120 $0.070120
      Dec 15, 2000 $0.771260 $0.020800 $0.047060 $0.703400
      Oct 25, 2000 $0.326000 $0.082000 $0.244000
      Dec 15, 1999 $0.861400 $0.025500 $0.075000 $0.760900
      Oct 26, 1999 $1.000000 $0.100000 $0.900000
      Dec 15, 1998 $2.204100 $0.057700 $0.019900 $2.126500
      Oct 27, 1998 $0.150000 $0.150000
      Dec 15, 1997 $0.327500 $0.022990 $0.016710 $0.287800
      Oct 31, 1997 $0.660000 $0.140000 $0.520000
      Dec 13, 1996 $3.031686 $0.077877 $0.413309 $2.540500
      Sep 30, 1996 $0.060000 $0.060000
      Dec 29, 1995 $0.725785 $0.020400 $0.235485 $0.469900
      Oct 31, 1995 $0.050000 $0.050000
      Dec 30, 1994 $0.224500 $0.120000 $0.104500
      Oct 31, 1994 $0.850000 $0.050000 $0.800000
      Jul 29, 1994 $0.030000 $0.030000
      Apr 29, 1994 $0.020000 $0.020000
      Dec 30, 1993 $0.080000 $0.080000
      Oct 29, 1993 $0.030000 $0.030000
      Jul 30, 1993 $0.030000 $0.030000
      Apr 30, 1993 $0.020000 $0.020000
      Dec 31, 1992 $0.035000 $0.035000
      Oct 30, 1992 $0.038300 $0.038300

Risk & Return Stats

As of: 09/30/2019

View All Characteristics & Stats

Portfolio & Holdings

Portfolio & Holdings

Top Holdings (Long)

As of: 09/30/2019

Host Hotels & Resorts Inc 2.17%
Allison Transmission Holdings Inc 2.16%
American Financial Group Inc 2.15%
Sunstone Hotel Investors Inc 2.11%
SEI Investments Co 2.11%
IDACORP Inc 2.09%
Gentex Corp 2.09%
US Foods Holding Corp 2.06%
First Industrial Realty Trust Inc 2.05%
First American Financial Corp 2.05%
% in Top 10 Holdings 21.04%
View Holding Details Read Important Investment Disclosures

Investment Allocation

As of: 09/30/2019

Investment Approach

Investment Approach

First Quadrant (FQ) believes that significant and recurring fundamental market inefficiencies present opportunities for profit. With inefficiencies changing over time, FQ believes it’s necessary to conduct ongoing research to keep the investment process ahead of the curve. FQ also believes that market inefficiencies exist for a variety of reasons, including:

  • In certain dimensions of the market, information is not always immediately reflected in the price of securities
  • Certain information that is given either too much or too little weight in investors’ decisions
  • Investors fail to respond efficiently to changes in various risk attributes

Additional Fund Highlight

Experienced boutique manager known for its systematic, theory-based investment processes


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About

About First Quadrant

Background

First Quadrant (FQ) is an innovative boutique investment firm recognized for excellence in dynamic asset allocation and equity strategies. FQ employs a systematic, theory-based investment process and serves a global, primarily institutional client base.

Learn More

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Founded

1988


Headquarters

Pasadena, CA


Affiliate Since

1996


AUM

$21.3B

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