Aspiriant Risk-Managed Global Equity Fund
The Aspiriant Risk-Managed Global Equity Fund seeks to achieve long-term capital appreciation while considering federal tax implications of investment decisions.
The Aspiriant Risk-Managed Global Equity Fund is one fund created to address two guiding principles of our public equity philosophy using four strategies.
Guiding Principle #1. You must stay invested in the market for the long term.
Guiding Principle #2. You do not need to protect your portfolio against every loss; we believe we can have a large positive impact on long-term returns if portfolios are protected against very large, infrequent losses.
Strategy #1. Growth: Achieve growth through long-term capital appreciation.
Strategy #2. Income: Generate additional income and reduce volatility through covered call writing.
Strategy #3. Protection: Protect the value of assets against periods of severe market stress through tail risk management.
Strategy #4. Volatility Reduction: High quality stocks tend to have lower volatility.
This innovative structure offers a comprehensive global public equity solution previously unavailable to individual investors at a reasonable cost.
Under normal conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in equity securities. The Fund also will invest in securities that provide exposure to equity securities (for example, rights, warrants, futures contracts, swaps, and equity options). The Fund will hold a broad and diverse group of equity securities of companies in countries with developed and emerging markets with greater emphasis on small capitalization and value companies. The Fund may invest in companies of any market capitalization. The Fund may also engage in “tail risk” hedging using financial derivatives (including options, swaps, options on swaps, both short and/or long positions) that are expected to increase in value during periods of severe market stress (“tail events”). In addition, the Fund may invest in other derivative instruments to seek return, hedge against fluctuations in securities prices, interest rates or currency exchange rates, as a substitute for the purchase or sale of securities or currencies, or for investment purposes to increase its economic exposure to a particular security, currency or index in a cost effective manner.
(as of 3/31/2015)