Skip to Main Content

Snow Long/Short Opportunity Fund

An all-capitalization, contrarian value, liquid alternatives fund that uses a variety of hedging strategies in an effort to lower the overall volatility of its investment portfolio.

Overall Morningstar rating as of September 30, 2022. Based on risk-adjusted returns. Category: Long-Short Equity out of 178 funds.

More Information

$29.33
10/3/2022

-11.66%
10/3/2022
at NAV

NAV Disclosure

Why This Fund?

  • People: Co-Portfolio Managers Jessica Bemer and Anne Wickland average of over 23 years of value investing experience and are supported by a seven-person investment team.
  • Portfolio: A conviction-weighted long portfolio and an opportunistic, research-driven process for a short positioning with the goal of smoothing volatility of investment returns for shareholders.
  • Philosophy: Investment philosophy that is consistent with modern behavioral finance research and aims to take advantage of investor overreactions to negative surprises.
  • Process: Contrarian fundamental investment process focused on identifying out-of-favor stocks with positive free cash flow and a strong balance sheet.
  • Award Winning: The Long/Short Opportunity Fund won Hedgeweek’s 2021 Best Liquid Alternative Award.1

Fund Facts

INCEPTION DATE
04/28/2006
NET ASSETS
$89MM
ASSET CLASS
Alternative, Equity
MORNINGSTAR CATEGORY
Long-Short Equity
BENCHMARK
Russell 3000 Value Index
GROSS EXPENSES
1.29% View Disclosure
NET EXPENSES
1.29% View Disclosure
CUSIP
470258518

Top 10 Holdings (Long)

Hasbro, Inc.
2.75%
Truist Financial Corp.
2.67%
Carter's, Inc.
2.63%
Centene Corp.
2.62%
Amgen, Inc.
2.52%
Lamb Weston Holdings, Inc.
2.46%
Southwest Airlines, Co.
2.36%
Wells Fargo & Co
2.35%
Simmer Biomet Holdings, Inc.
2.28%
Suncor Energy, Inc.
2.28%

Holdings (Short)

iShares Russell 1000 ETF
-4.04%
iShares Russell 3000 ETF
-1.90%
SPDR S&P 500 ETF Trust
-1.87%
Invesco QQQ Trust Series 1
-1.10%
Centene Corp. Call
-0.24%

Monthly Returns

-8.03%-13.80%-8.71%6.23%4.78%7.46%5.12%
-4.20%-12.29%-7.97%3.39%3.07%--
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Daily Pricing and Returns

$29.33 2.48 -11.66
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Quarterly Returns

-4.76%-13.80%-8.71%6.23%4.78%7.46%5.12%
-7.10%-9.38%-5.85%4.58%4.45%4.26%-
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Calendar Year Performance

 202120202019201820172016201520142013201220112010200920082007
SNOW LONG/SHORT OPPORTUNITY FUND I (SNOIX)26.18%1.45%22.45%-11.25%
12.79%
20.26%
-23.24%
7.16%
45.03%
18.73%
-11.58%13.39%
60.02%
-42.13%
0.24%
Morningstar Long-Short Equity Category18.05%7.89%11.90%-6.29%11.18%
2.34%
-2.02%
2.92%
14.62%
5.15%
-2.81%
4.67%
8.80%
-17.04%
-
View Disclosure

Past performance does not guarantee future results and current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate, so that shares when redeemed may be worth more or less than their original cost. For performance information current to the most recent month-end, please call 888.814.8180.

Sector Breakdown

Financials

22.20% 

Consumer Discretionary

14.31% 

Health Care

13.56% 

Industrials

12.41% 

Energy

8.94% 

Information Technology

8.41% 

Materials

5.33% 

Consumer Staples

4.12% 

Communication Services

3.67% 

Market Hedge

-8.91% 

View Glossary

Market Exposures

Gross Exposure

102.31% 

Net Exposure

84.04% 

View Glossary

Fund Characteristics - 3 Year

Market Cap (Billions)

$60.53 

Forward P/E Estimate

8.66 

Price-to-Book

1.51 

PEG Ratio Forecast 12-Month

0.77 

EPS Growth Estimate

8.96% 

Long Term Debt/Capital

41.48% 

View Glossary

Fund Statistics

Sharpe Ratio

0.49 

Standard Deviation

19.01% 

R-Squared

90.53 

Beta

0.92 

View Glossary

Distribution History

Distribution DateDistribution NAVLong-Term Capital GainShort-Term Capital GainReturn of CapitalDividend Income
12/27/2133.131.670.89-0.43
12/29/2028.36---0.53
12/27/1928.77---0.56
12/27/1823.85---0.49
12/28/1727.74---1.32
12/29/1625.70---0.09
12/29/15-0.60---
12/29/1428.872.631.44-0.13
12/27/1330.36---0.01
12/17/1220.70---0.12
12/30/1020.20---0.04
12/29/0918.07---0.29
12/29/0810.660.090.38-0.03
12/27/0720.620.260.09-0.37
12/27/200621.28---0.03

Info


Easterly Investment Partners (EIP)

Easterly Investment Partners (EIP) is our traditional, fundamental-based investment arm. EIP bolsters highly experienced teams and their investment strategies with the robust infrastructure of Easterly Asset Management. EIP’s current offerings span the entire value-equity spectrum and are managed by seasoned investment professionals. While we offer value strategies today, we are currently working to broaden EIP to provide a wider range of client solutions to include growth and core.


2006

Sewickley, PA

Portfolio Manager(s)

Jessica Bemer, CFA

Portfolio Manager
20 Years of Industry Experience


Jennison Associates

Anne Wickland, CFA

Portfolio Manager
25 Years of Industry Experience


Prudential Equity Group
Credit Suisse
J.P. Morgan

Documents

Statement of Additional Infromation

Download

Easterly Snow Long/Short Opportunity Fund Morningstar Rating

Overall 3-Year 5-Year
Morningstar Star Rating 3 3 -
# Funds in Category 178 178 158

© 2022 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

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.

External Link

You are now leaving the Easterly Funds website and entering an external website. Please note that the Easterly Funds site window will remain open.

Continue Close

Easterly Perspectives

Sign up to receive our latest thoughts on the markets, written by our veteran fund managers.
Consent(Required)

Thank you for signing up for our newsletter!

Get in Touch

For questions or inquiries, please feel free to contact us by completing the form below.

Get in Touch

For questions or inquiries, please feel free to contact us by completing the form below.