Does your long/short mutual fund
have the right shorts?
Many long/short funds are managed by long-only managers
who’ve only recently started shorting. Now there’s another option.
Introducing the Altegris Equity Long Short Fund (ELSAX).
This actively managed mutual fund provides access to what we believe
are best of breed managers with verifiable long and short strategy track
records —and experience with shorting not just to hedge.
Learn more at altegris.com/LS or call 888-524-9441.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Altegris Equity Long
Short Fund. This and other important information is contained within the Fund’s prospectus, which can be obtained by
calling (888) 524-9411. The Fund prospectus should be read carefully before investing.
Altegris defines “best of breed” as managers which in our opinion have demonstrated success in terms of sustained
investment edge, effective risk management processes and established operational infrastructure.
As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to
be a complete investment program. Many factors affect the Fund’s net asset value and performance.
Short: selling an asset/security that may have been borrowed from a third party with the intention of buying back at a later date. Short
positions profit from a decline in price. If a short position increases in price, covering the short position at a higher price may result in
a loss. Long: buying an asset/security that gives partial ownership to the buyer of the position. Long positions profit from an increase in
price. The use of futures and options involves risks different from or possibly greater than, the risks associated with investing directly in
securities including leverage risk and tracking risk. Long options positions may expire worthless. The use of leverage by the Fund, such
as borrowing money to purchase securities or the use of options will cause the Fund to incur additional expenses and magnify the
Fund’s gains or loss. The adviser’s judgments about the investment expertise of each sub-adviser may prove to be inaccurate and may
not produce the desired results. Each subadviser’s judgments about the attractiveness, value and potential appreciation or depreciation
of a particular security in which the Fund invests or sells short may prove to be inaccurate and may not produce the desired results.
