Matisse Funds

Matisse Funds charges fees for open-end and exchange-traded funds on par with respective category peers. On average, the firm's fund fees are in the middle quintile. With the current market environment of fee compression, this is cause for concern, as investors may flock over time to other asset managers to get a better deal. With an average asset-weighted tenure of eight years among the longest-tenured managers at Matisse Funds, the firm is on par with peers. Seasoned teams tend to have more experience to draw upon should they need to weather turbulent market conditions. Matisse Funds has exhibited a reliable and stable portfolio management culture over the past five years, as evidenced by lower-than-average turnover, strengthening the assessment of the firm's stewardship.