VELIX – VELA Large Cap Plus I Investment Strategy | Morningstar

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Strategy

The investment seeks to provide long-term capital appreciation. The fund, under normal market conditions, invests at least 80% of its net assets in long and short positions in U.S. equity securities with large market capitalizations. Equity securities consist of common and preferred stocks. Under normal market conditions, the adviser intends to maintain its net exposure in the range of 80% - 100% (long market value minus short market value). However, the long and short positions held by the fund will vary in size as market opportunities change.

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
VELIX	VELA Large Cap Plus Fund Class I	Institutional	Open			Sep 30, 2020	$66.13M	0.950%	High	$2,500	−$4.18M
VELAX	VELA Large Cap Plus Fund Class A	Front Load	Open			Sep 30, 2020	$409,699.00	1.200%	High	$1,000	−$158,823.74

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