Abraham Fortress Fund Performance
Our approach focuses on combining diversified investments with strong risk management principles.
Performance data quoted represents past performance; past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Performance figures include the reinvestment of all dividends and any capital gains distributions. All returns are net of expenses unless otherwise noted. An investment of this nature is subject to a risk of loss.
Returns over one year are annualized. ¹The Gross Expense Ratio for Class K Shares is 1.04%, and the Net Expense Ratio is 0.65%. The Gross Expense Ratio for Class I Shares is 1.13%, and the Net Expense Ratio is 0.74%. The adviser has contractually agreed to waive fees through 10/31/35. Performance would have been lower without fee waivers in effect. Performance between 07/26/2018 and 10/13/2021 is from the Abraham Fortress Fund, LP, a Delaware Limited Partnership (the “Predecessor Fund”). Performance beginning on 10/14/2021 is for the Abraham Fortress Fund, an SEC-registered open-end mutual fund (the “Fund”). The Fund’s objectives, policies, guidelines, and restrictions are materially equivalent to those of the Predecessor Fund. The Fortress Fund, LP performance reflects proprietary performance from 07/26/2018 through 04/30/2021, when Salem Abraham’s proprietary investments represented over half of the fund’s assets. ²70/30 Benchmark uses 70% MSCI ACWI Index and 30% Bloomberg US Aggregate Bond Index, and its statistics used in the tables above reflect no deductions for fees, expenses, or taxes. ³MSCI ACWI is the MSCI ACWI Index (All Country World Index), a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. Its statistics used in the tables above reflect no deductions for fees, expenses, or taxes. ⁴US Aggregate Bond Index is the Bloomberg US Aggregate Bond Index, a broad-based flagship benchmark that measures the investment grade USD-denominated fixed-rate taxable bond market, and its statistics used in the tables above reflect no deductions for fees, expenses, or taxes.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
As of 05/31/26, reflects Class K share fees.
07/26/18 to 05/31/26, reflects Class K share fees.
5Volatility (Standard Deviation) is a statistical measure of the dispersion of returns for a given security or market index. 1-Year Volatility is annualized based on the last 255 trading days. Since Inception Volatility is annualized based on monthly returns. The Sharpe Ratio uses the risk free rate, which is determined by the 90-day T bill rate for the period. A Sharpe Ratio is a measure of historical risk-adjusted performance describing how much excess return you receive for the volatility of holding a riskier asset. The Sharpe Ratio measures the performance of an investment compared to a risk-free asset. The higher the ratio, the better the fund’s return per unit of risk. Max Drawdown is the maximum peak-to-trough decline during a specific period for an investment fund or trading account. Correlation measures how two assets move in relation to each other, indicating how strongly two assets move together if the number is positive or how strongly two assets move in opposite directions if negative. Beta is a measure of a portfolio’s sensitivity to market movements (as represented by a benchmark index). Upside/Downside Capture Ratio shows whether a given fund has gained more or lost less than a broad market benchmark during periods of market strength and weakness, and by how much. Upside capture ratios for funds are calculated by taking the fund’s monthly return during months when the benchmark had a positive return and dividing it by the benchmark return during that same month. Downside capture ratios are calculated by taking the fund’s monthly return during the periods of negative benchmark performance and dividing it by the benchmark return.
*This chart illustrates the performance of a hypothetical $1,000 investment made in the Fund as of July 26, 2018. It assumes reinvestment of dividends and capital gains, but does not reflect the effect of any applicable sales charge or redemption fees. This chart does not imply any future performance.
Returns over one year are annualized.
¹FORKX has a Gross Expense Ratio of 1.04% and a Net Expense Ratio is 0.65%. FORTX has a Gross Expense Ratio of 1.13% and a Net Expense Ratio of 0.74%. The adviser has contractually agreed to waive fees through 10/31/35. Performance would have been lower without fee waivers in effect. Performance between 07/26/2018 and 10/13/2021 is from the Abraham Fortress Fund, LP, a Delaware Limited Partnership (the “Predecessor Fund”). Performance beginning on 10/14/2021 is for the Abraham Fortress Fund, an SEC-registered open-end mutual fund (the “Fund”). The Fund’s objectives, policies, guidelines, and restrictions are materially equivalent to those of the Predecessor Fund. The Fortress Fund, LP performance reflects proprietary performance from 07/26/2018 through 04/30/2021, when Salem Abraham’s proprietary investments represented over half of the fund’s assets.
²70/30 Benchmark uses 70% MSCI ACWI Index and 30% Bloomberg US Aggregate Bond Index, and its statistics used in the tables above reflect no deductions for fees, expenses, or taxes.
³MSCI ACWI is the MSCI ACWI Index (All Country World Index), a free float-adjusted market capitalization-weighted index that is designed to measure the equity market performance of developed and emerging markets. Its statistics used in the tables above reflect no deductions for fees, expenses, or taxes.
⁴US Aggregate Bond Index is the Bloomberg US Aggregate Bond Index, a broad-based flagship benchmark that measures the investment grade USD-denominated fixed-rate taxable bond market, and its statistics used in the tables above reflect no deductions for fees, expenses, or taxes.
5Volatility (Standard Deviation) is a statistical measure of the dispersion of returns for a given security or market index, and it is recognized as a measure of risk in the financial industry. 3-Year is computed using trailing monthly total returns for the last 3 years, then annualized and expressed as a percentage. Since Inception Volatility is annualized based on monthly returns. The Sharpe Ratio uses the risk free rate, which is determined by the 90-day T bill rate for the period. A Sharpe Ratio is a measure of historical risk-adjusted performance describing how much excess return you receive for the volatility of holding a riskier asset. The Sharpe Ratio measures the performance of an investment compared to a risk-free asset. The higher the ratio, the better the fund’s return per unit of risk. Max Drawdown is the maximum peak-to-trough decline during a specific period for an investment fund or trading account. Beta is a measure of a portfolio’s sensitivity to market movements (as represented by a benchmark index). The benchmark index has a beta of 1.0. A beta of more or less than 1.0 indicates that a fund’s historical returns have fluctuate more or less than the benchmark index. Correlation measures how two assets move in relation to each other, indicating how strongly two assets move together if the number is positive or how strongly two assets move in opposite directions if negative. Upside/Downside Capture Ratio shows whether a given fund has gained more or lost less than a broad market benchmark during periods of market strength and weakness, and by how much. Upside capture ratios for funds are calculated by taking the fund’s monthly return during months when the benchmark had a positive return and dividing it by the benchmark return during that same month. Downside capture ratios are calculated by taking the fund’s monthly return during the periods of negative benchmark performance and dividing it by the benchmark return.
Performance data quoted represents past performance; past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate; therefore, you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Performance figures include the reinvestment of all dividends and any capital gains distributions. All returns are net of expenses unless otherwise noted. An investment of this nature is subject to a risk of loss.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
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PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.
There is no guarantee that any investment will achieve its goals and generate profits or avoid losses. Investors should carefully consider investment objectives, risks, charges, and expenses of the investment company and the Abraham Fortress Fund before investing. Diversification does not assure a profit nor protect against loss in a declining market.
Mutual fund investing involves risk; principal loss is possible. Investments in debt securities involve credit risk and typically decrease in value when interest rates rise. Investments in lower rated and nonrated securities involve greater risk. Investments in foreign securities involve political, economic, and currency risks, greater volatility, and differences in accounting methods. Derivatives may involve certain costs and risks such as liquidity, interest rate, market, credit, management, and the risk that a position could not be closed when most advantageous. Investing in derivatives could lose more than the amount invested. The Fund may use leverage which may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the Fund to be more volatile than if leverage was not used. The Fund invests in small and mid-cap companies, which involve additional risks such as limited liability and greater volatility than large-cap companies. Investments related to gold are considered speculative and are affected by a variety of worldwide economic, financial, and political factors. The price of gold may fluctuate sharply over short periods of time, even during periods of rising prices.
This and other important information about the investment company and the Fund are contained in the prospectus, which can be obtained on this website. It can also be obtained by calling 806.323.8000 or emailing info@abrahamtrading.com. The prospectus should be read carefully prior to investing. The Abraham Fortress Fund is distributed by IMST Distributors, LLC, a FINRA/SIPC member. Abraham Trading, LP is not affiliated with IMST Distributors, LLC.
Abraham Trading, LP, d/b/a Abraham Trading Company, is a Registered Investment Adviser with the Securities and Exchange Commission (SEC). Abraham Trading, LP is registered as a Commodity Pool Operator (CPO) and Commodity Trading Advisor (CTA) with the Commodity Futures Trading Commission (CFTC) and a Member of the National Futures Association (NFA). Abraham Trading, LP only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. SEC registration does not constitute an endorsement of the firm by the Commission, nor does it indicate that the advisor has attained a particular level of skill or ability.
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