BEVERLY, MA (NOVEMBER 12, 2024) – Easterly Asset Management (“Easterly”), home to investment teams that provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity, and active fixed income, today announced that the Easterly Hedged Equity Fund (Class I and R6) has been recognized with a 5-Star Overall Morningstar Rating™ as of October 31, 2024.
The Hedged Equity Fund’s primary investment objective is capital appreciation. By combining a domestic long equity core position with risk mitigation strategies, the Fund seeks to manage risk during significant equity market downturns and thereby enhance returns.
“Despite volatility in equities and fixed income, our hedged equity strategy has allowed investors to opportunistically capture the upside of reallocation while benefiting from rising volatility,” said Darrell Crate, Founder and Managing Principal of Easterly Asset Management. “The team’s diligence and expertise in navigating uncertainty in the market enables us to demonstrate the Fund’s value proposition to our investors.”
Easterly’s Hedged Equity Fund (Class I and R6) earned 5 stars overall (out of 149 funds), 5 stars for its 3-year (out of 149 funds) and 5 stars for its 5-year (out of 118 funds) in Morningstar’s Equity Hedged category based on risk-adjusted returns as of the period ending October 31, 2024.
Easterly Hedged Equity Fund (Class I and R6) Morningstar Rating
| Overall | 3-Year | 5-Year | |
|---|---|---|---|
| Morningstar Star Rating | 5 | 5 | 5 |
| # Funds in Category | 149 | 149 | 118 |
“We value this recognition from Morningstar as we look to help clients manage cyclical portfolio risk and provide the necessary systematic defense strategies,” said Jim Ryan, Founding Partner and President of Easterly EAB Risk Solutions. “With more market volatility expected in the coming months and quarters, we look forward to providing our investors with a strong portfolio diversification option.”
About Easterly
Easterly Asset Management and its Strategic Partners provide private wealth and institutional investors with a portfolio of solutions across alternatives, active equity and active fixed income. Founded in 2019, Easterly’s goal is to bring curated solutions to clients that make their portfolios better by partnering with trusted investment teams who have an established track record of delivering value to investors. Easterly enables high-performing managers to operate at scale by delivering best-in-class resources, risk management, operational support, infrastructure and an institutional and wealth distribution team. As of June 30, 2024, Easterly and its Strategic Partners manage $60B of client assets. For more information, visit easterlyam.com.
Media Contacts
Jen Zeilman
jzeilman@easterlyam.com
Nneka Etoniru
easterly@avenuez.com
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The Morningstar Rating™ for funds or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating metrics.
Morningstar Rating is for the I share class only; other classes may have different performance characteristics.
IMPORTANT FUND RISK INFORMATION
Mutual Fund investing involves risk. Principal loss is possible. Variable and floating rate securities provide for a periodic adjustment in the interest rate paid on the obligations. Fixed-income securities are or may be subject to interest rate, credit, liquidity, prepayment and extension risks. Interest rates may go up resulting in a decrease in the value of the fixed-income securities held by the Fund. High-yield fixed income securities or “junk bonds” are fixed-income securities held by the Fund that are rated below investment grade are subject to additional risk factors such as increased possibility of default, illiquidity of the security, and changes in value based on public perception of the issuer. The municipal market is volatile and can be significantly affected by adverse tax, legislative or political changes and the financial condition of the issuers of municipal securities. The Fund has limited operating history and there can be no assurance that the Fund will grow to or maintain an economically viable size.
Past performance does not guarantee future results.
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