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Stone Ridge High Yield Reinsurance Risk Premium Fund Class M SHRMX

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Strategy

The investment seeks a high level of total return consisting of income and preservation of capital. Under normal circumstances, the fund will invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in reinsurance-related securities. In addition, it will also invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in high yield, high risk debt securities (commonly referred to as "junk bonds").

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
SHRMX	Stone Ridge High Yield Reinsurance Risk Premium Fund Class M	Institutional	Open	—	—	Feb 1, 2013	$85.15M	1.790%	High	$250,000	$23.21M
SHRIX	Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	Institutional	Open	—	—	Feb 1, 2013	$5.13B	1.640%	Above Average	$25M	$774.34M

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