Convergence Mutual Funds

Fund Details

Bridge Traditional Barriers. The Convergence mutual funds seek to provide greater return potential than traditional approaches. Armed with a proprietary dynamic quantitative model, additional tools and added flexibility, the managers at Convergence are able to pursue a more material and consistent alpha.

Fund Facts

Fund Name: Convergence Long Short Fund
Share Classes: Institutional Class (MARNX)
Portfolio Managers: David J. Abitz, CFA and Justin Neuberg, CFA

Fund Facts

Fund Name: Convergence Market Neutral Fund
Share Classes: Institutional Class (CPMNX)
Portfolio Managers: David J. Abitz, CFA and Justin Neuberg, CFA

Fund Facts

Fund Name: Convergence Opportunities Fund
Share Classes: Institutional Class (CIPOX)
Portfolio Managers: David J. Abitz, CFA and Justin Neuberg, CFA

Before you invest in the Convergence funds, please refer to the Summary Prospectus and Prospectus for important information about the investment company, including investment objectives, risks, charges, and expenses. You may also obtain a hardcopy of the statutory prospectus and summary prospectus by calling 1-877-677-9414. The prospectus should be read carefully before you invest or send money.

The funds are offered only to United States residents, and information on this site is intended only for such persons. Nothing on this web site should be considered a solicitation to buy or an offer to sell shares of the funds in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

Mutual fund investing involves risk. Principal loss is possible. Investments in midcap companies involve additional risks such as limited liquidity and greater volatility than larger capitalization companies. Small-capitalization funds typically carry additional risks because smaller companies generally have a higher risk of failure. Their stocks are subject to a greater degree of volatility, trade in lower volume and may be less liquid. The funds invest in foreign securities, which involve greater volatility and political, economic and currency risks and differences in accounting methods. The funds regularly make short sales of securities, which involve unlimited risk including the possibility that losses may exceed the original amount invested. However, a mutual fund investor’s risk is limited to one’s amount of investment in a mutual fund.

Long Short Fund

The minimum initial investment is $15,000. The Management Fee is 1.00%. The Gross Expense Ratio is 2.20% and the Expense Ratio net of dividends on short positions is 1.27%. Pursuant to an operating expense limitation agreement between the Adviser and the Fund, the Adviser has agreed to contractually waive its management fees and/or reimburse Fund expenses to ensure that total annual fund operating expenses (exclusive of dividends or interest expenses on short positions, acquired fund fees and expenses, leverage expenses (i.e., any expenses incurred in connection with borrowings made by the Fund), tax expenses, brokerage commissions, and extraordinary expenses) do not exceed 1.50% of the average net assets through November 1, 2020. Gross expense ratios are applicable to investors.

Opportunities Fund

The minimum initial investment is $15,000. The Management Fee is 1.00%. The Gross Expense Ratio is 2.73%, the Net Expense Ratio is 2.71%* and the Net Expense Ratio excluding short dividends is 1.50%. Pursuant to an operating expense limitation agreement between the Adviser and the Fund, the Adviser has agreed to contractually waive its management fees and/or reimburse Fund expenses to ensure that total annual fund operating expenses (exclusive of dividends or interest expenses on short positions, acquired fund fees and expenses, leverage expenses (i.e., any expenses incurred in connection with borrowings made by the Fund), tax expenses, brokerage commissions, and extraordinary expenses) do not exceed 1.50% of the average net assets through November 1, 2020. The Net expense ratio is applicable to investors.

Market Neutral Fund

The minimum initial investment is $15,000. The Management Fee is 1.00%. The Gross Expense Ratio on the fund is 2.63%, the Net Expense Ratio is 2.70%* and the Net Expense Ratio excluding short dividends is 1.50%. Pursuant to an operating expense limitation agreement between the Adviser and the Fund, the Adviser has agreed to waive its management fees and/or reimburse Fund expenses to ensure that total annual fund operating expenses (exclusive of dividends or interest expenses on short positions, acquired fund fees and expenses, leverage expenses (i.e., any expenses incurred in connection with borrowings made by the Fund), tax expenses, brokerage commissions, and extraordinary expenses) for the Fund does not exceed 1.50% of the average net assets through November 1, 2020. The Net expense ratio is applicable to investors.

Alpha is an annualized return measure of how much better or worse a fund’s performance is relative to an index of funds in the same category, after allowing for differences in risk. You cannot invest directly in an index.

Convergence Investment Partners is the advisor to the Convergence Long Short Fund, Convergence Market Neutral Fund, and the Convergence Opportunities Fund, which are distributed by Quasar Distributors, LLC.