Abbey Capital Multi Asset Fund

Leveraging our 20 years of expertise in managing funds which combine long equities with managed futures, we now offer this multi-asset strategy to US investors.
Performance Class I
As of: 18 May 2022
$11.58
NAV
-$0.22
Change $
-1.86%
Daily Return
Ticker
MAFIX
CUSIP
74933W882
Minimum Investment
$1,000,000
Additional Investment
$1,000
Launch Date
11 April 2018

Past performance does not guarantee future results. For further performance information click here.

Performance Class C
As of: 18 May 2022
$11.51
NAV
-$0.21
Change $
-1.79%
Daily Return
Ticker
MAFCX
CUSIP
74933W809
Minimum Investment
$2,500
Additional Investment
$100
Launch Date
5 November 2021

Past performance does not guarantee future results. For further performance information click here.

Fund Overview

The Abbey Capital Multi Asset Fund (the “Fund”)  combines an allocation to a multi-manager managed futures strategy with a managed long US equity strategy. The remaining cash is invested in a short-dated fixed income strategy.  The Fund executes both the managed futures and long US equity strategies using futures to effectively generate leverage in the product without the need for borrowing. This leverage allows the Fund to target approximately 100% exposure to the managed futures strategy and approximately a 50% exposure to the long US equity strategy. Abbey Capital is a leading provider of multi-manager managed futures products founded in 2000 and brings this wealth of experience to the mutual fund space through its product offerings.

Facts & Fees
  • No performance fees
  • No hidden manager fees
  • No hidden swap fees

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts on Advisor Class Shares if you invest, or agree to invest in the future, at least $25,000 in the Fund. More information about these and other discounts is available from your financial professional, in the section of the Prospectus entitled “Shareholder Information- Sales Charges” and in the section of the Fund’s Statement of Additional Information (“SAI”) entitled “Purchase and Redemption Information – Reducing or Eliminating the Front-End Sales Charge.”

 

Shareholder Fees (fees paid directly from your investment)

As of 18 May 2022
Class I
Class A
Class C
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)
None
5.75%
None
Maximum Deferred Sales Charge (Load)
None
None(1)
1.00%(2)
Maximum Sales Charge (Load) Imposed on Reinvested Dividends
None
None
None
Redemption Fee (as a percentage of amount redeemed, if applicable)
None
None
None

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Class I
Class A
Class C
Management Fees (3)
1.77%
1.77%
1.77%
Distribution and/or Service (12b-1) Fee
None
0.25%
1.00%
Other Expenses
0.51%
0.51% (4)
0.51% (4)
Total Annual Fund Operating Expenses
2.28%
2.53%
3.28%
Less: Fee Waivers and/or Expense Reimbursements(5)
-0.49%
-0.49%
-0.49%
Total Annual Fund Operating Expenses after Fee Waivers and/or Expense Reimbursements(5)
1.79%
2.04%
2.79%

(1)  A contingent deferred sales charge (“CDSC”) of 1.00% is assessed on certain redemptions of Class A Shares made within 12 months after purchase where no initial sales charge was paid at time of purchase as part of an investment of $1,000,000 or more.

(2)  The CDSC applies to redemptions of Class C Shares made within 12 months of purchase and will be assessed on an amount equal to the lesser of the offering price at the time of purchase of the shares redeemed and the net asset value of the shares redeemed at the time of redemption.

(3)  Management Fees include advisory fees paid to both Abbey Capital Limited (the “Adviser”) and one or more trading advisers (the “Trading Advisers”). There are no performance fees charged by the Adviser or Trading Advisers either at the Fund or at the Fund’s wholly-owned Subsidiaries.

(4)  “Other Expenses” for Class A Shares and Class C Shares, which commenced operations on November 2, 2021, are based on Class I Shares for the current fiscal year.

(5)  The Adviser has contractually agreed to waive its advisory fee and/or reimburse expenses in order to limit Total Annual Fund Operating Expenses (excluding certain items discussed below) to 1.79%, 2.04% and 2.79% of the Fund’s average daily net assets attributable to Class I Shares, Class A Shares and Class C Shares, respectively. In determining the Adviser’s obligation to waive advisory fees and/or reimburse expenses, the following expenses are not taken into account and could cause net Total Annual Fund Operating Expenses to exceed 1.79%, 2.04% or 2.79%, as applicable: acquired fund fees and expenses, brokerage commissions, extraordinary items, interest or taxes. This contractual limitation is in effect until 31st December 2022 for Class I Shares, Class A Shares and Class C Shares, and may not be terminated prior to that date without the approval of the Board of Directors of The RBB Fund, Inc. (the “Company”). If at any time the Fund’s Total Annual Fund Operating Expenses (not including acquired fund fees and expenses, brokerage commissions, extraordinary items, interest or taxes) for a year are less than 1.79%, 2.04% and 2.79%, as applicable, the Adviser may recoup any waived or reimbursed amounts from the Fund within three years from the date on which such waiver or reimbursement was made by the Adviser, provided such reimbursement does not cause the Fund to exceed expense limitations that were in effect at the time of the waiver or reimbursement.

Performance
As of 18 May 2022
Class I*
Class C** (Pro forma 11 Apr 18 – 5 Nov 21)
Class C with load** (Pro forma 11 Apr 18 – 5 Nov 21)
NAV
$11.58
$11.51
$11.51
NAV Daily Change
-$0.22
-$0.21
-$0.21
% Daily
-1.86%
-1.79%
-2.77%
% Month To Date
-1.61%
-1.62%
-2.61%
% Quarter To Date
-1.28%
-1.37%
-2.36%
% Year To Date
+4.61%
+4.26%
+3.26%
% Inception To Date ***
+11.09%
+13.36%
+13.36%

Past performance does not guarantee future results. Investing in managed futures is not suitable for all investors given the level of risk involved, including the risk of loss.

As of 31 March 2022
Class I*
Class C** (Pro forma 11 Apr 18 – 5 Nov 21)
Class C with load** (Pro forma 11 Apr 18 – 5 Nov 21)
% Quarter To Date
+5.96%
+5.71%
+4.71%
% Year To Date
+5.96%
+5.71%
+4.71%
% 1 Year***
+11.73%
+10.60%
+9.60%
% 3 Year***
+20.06%
+18.86%
+18.86%
% 5 Year***
+13.79%
N/A
N/A
% 10 Year***
+12.35%
N/A
N/A
% Inception To Date ***
+11.24%
+14.23%
+14.23%

Past performance does not guarantee future results. Investing in managed futures is not suitable for all investors given the level of risk involved, including the risk of loss.

Source: Abbey Capital based on administrator data.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance would have been lower without fee waivers in effect. Visit abbeycapital.com  for returns updated daily. Call (US Toll Free) 1-844-261-6484 or (international callers) +1-508-871-3276 for returns current to the most recent month-end. Non predecessor Fund returns would have been lower without fee waivers in effect.

*Performance shown prior to 11 April 2018 is for the Fund’s Predecessor Fund (Abbey Global LP). The fund commenced operations as a series of The RBB Fund, Inc. on 11 April 2018, when all of the assets of Abbey Global LP (“Predecessor Fund”) transferred to Class I Shares of the Fund. The Fund’s objectives, policies, guidelines and restrictions are in all material respects equivalent to the Predecessor Fund. Please see below for further details on the Predecessor Fund. The performance from April 2014 to 11 April 2018 represents proprietary performance, as the only investors for that period were Abbey Capital Limited and its officers.

Annual Fund Operating Expenses after fee waiver are as of the most recent prospectus and are applicable to investors. The Fund’s net expenses are 1.79% for Class I Shares and 2.79% for Class C Shares, net of the Fee Waiver (described below). The gross expenses are 2.28% for Class I Shares and 3.28% for Class C Shares. Abbey Capital has contractually agreed through December 31, 2022 to waive its advisory fee and/or reimburse expenses to limit Total Annual Fund Operating Expenses (excluding Excluded Items below) to 1.79% for Class I Shares  and 2.79% for Class C Shares (the “Fee Waiver”). The following are not included in the Fee Waiver: acquired fund fees and expenses, brokerage commissions, extraordinary items, interest or taxes (“Excluded Items”).

**The inception date of the Class C Shares was 5 November 2021. Returns for Class C Shares prior to 5 November 2021 are pro forma (i.e. returns of Class I Shares from 11 April 2018 adjusted for Class C Shares expenses). Performance results with sales charges (“with load”) reflect the deduction of the applicable contingent deferred sales charge (CDSC). Class C shares are subject to a CDSC of 1.00% if you redeem your shares within twelve (12) months of purchase, based on the lesser of the shares’ cost at purchase or current net asset value at time of redemption. Performance presented without sales charges does not include the CDSC and would be lower if a charge was reflected. 

***The inception date of Class I performance shown above is 14 May 2002. The inception date for Class C performance shown above is 11 April 2018. Performance is annualised for periods greater than 1 year.

Predecessor Fund

Performance shown before 11 April 2018 is for the Fund’s Predecessor Fund (Abbey Global, LP). The prior performance is net of management fees and other expenses. Performance of the predecessor fund is not an indicator of future results. Abbey Global LP was launched on 14 May 2002. From May 2002 until April 2014 Abbey Global LP invested approximately 100% of its assets in a passively managed portfolio participating in the U.S and international equity market and approximately 50% of its assets in a private placement fund managed by Abbey Capital Limited. From April 2014 to April 2018, Abbey Global LP invested approximately 50% of its assets in a passively managed portfolio participating in the U.S. equity market and approximately 50% of its assets in a private placement fund managed by Abbey Capital Limited. The performance from April 2014 to 11 April 2018 represents proprietary performance as the only investors in Abbey Global LP for that period were Abbey Capital Limited and its officers. For further details on the Predecessor Fund please see the Prospectus.

Distributions

Distributions 2021

For the 2021 distributions please click here.

Documentation
As of 18 May 2022
Download Link
Summary Prospectus

Summary Prospectus

Prospectus

Prospectus

Statement of Additional Information

Statement of Additional Information

Information Statement

Information Statement

Performance Report Q1 2022
Fact Sheet April 2022
Month-End Positioning April 2022
Annual Report

Annual Report

Semi Annual Report

Semi Annual Report

Historical Portfolio Holdings Report November 2021

View

Historical Portfolio Holdings Report May 2021

Historical Portfolio Holdings Report May 2021

Abbey Capital Multi Asset Fund Distribution 2020

Abbey Capital Multi Asset Fund Distribution 2020

Application Forms

Application Forms

Investor Application

Investor Application

IRA Investor Application

IRA Investor Application

Entity Investor Application

Entity Investor Application

Press releases
Download Link
Abbey Capital Multi Asset Fund Celebrates 3-Year Anniversary

Abbey Capital Multi Asset Fund Celebrates 3-Year Anniversary

Multi Asset Fund Launch April 2018

Multi Asset Fund Launch April 2018

For assistance call 1-844-261-6484 from 8 a.m. to 6 p.m. Eastern time, Monday through Friday. Send completed account application via overnight mail to Abbey Capital Multi Asset Fund, c/o U.S. Bancorp Fund Services, LLC (or USBFS), 615 East Michigan Street, 3rd Floor, Milwaukee WI, 53202-5207 or via regular mail to Abbey Capital Multi Asset Fund, c/o U.S. Bancorp Fund Services, LLC (or USBFS), P.O. Box 701, Milwaukee WI, 53201-0701. Redemption requirements are detailed in the Redemption of Fund Shares section of the prospectus. For questions regarding redeeming shares, please contact Shareholder Services at 1-844-261-6484. Shares of the Fund are offered only by a current prospectus and are intended solely for persons to whom shares of the US registered funds may be sold. The site shall not constitute an offer to sell or the solicitation of an offer to buy not shall there be any sale of shares of the Fund in ay jurisdiction in which such offer, solicitation or sale would be unlawful.

Sub Advisors

Aspect Capital Limited (“Aspect”)

Aspect Capital Limited is a London-based investment manager which was founded in 1997. The firm applies a systematic and research driven approach to investment management. The Core Diversified strategy is a medium-term, momentum based investment process applying Aspect’s core trendfollowing models across a set of highly liquid futures and FX markets.

Crabel Capital Management, LLC (“Crabel”)

Crabel is a Los Angeles-based alternative investment manager with over 25 years of experience specializing in systematic, automated trading of futures and foreign exchange.  The Crabel Advanced Trend Program employs multiple price-based, systematic strategies that participate in market trends across a diversified global portfolio of approximately 200 futures and foreign exchange instruments through the firm’s fully automated, low latency execution infrastructure.

Eclipse Capital Management, Inc (“Eclipse”)

Eclipse is a systematic global macro quantitative-based manager in St. Louis, Missouri. The Eclipse Emerald Futures Strategy takes a systematic, multi-model approach to trading. The program uses an allocation to trendfollowing, complemented with allocations to fundamental macroeconomic and mean reversion models, to construct a portfolio based on the aggregate positioning.

Revolution Capital Management, LLC (“Revolution”)

Revolution is a Denver, Colorado-based manager founded in 2004. The Revolution Emerald Futures Program follows a 100% systematic short- and medium-term trading strategy, combining counter-trend and trend reversion models. Trading takes place in a diversified set of markets, including commodity, equity, currency, bond and short-term interest rate sectors.

Tudor Investment Corporation (“Tudor”)

Tudor is a Connecticut-based investment manager. The firm runs multiple strategies including but not limited to discretionary global macro, event driven and quantitative investment and trading strategies. The Tudor Emerald Momentum program trades a systematic trend following strategy across a broad range of global futures markets.

Welton Investment Partners LLC (“Welton”)

Welton Investment Partners LLC is a California-based investment manager whose predecessor was originally formed in 1988. The Welton Trend program seeks to harness recurrent market opportunities by utilizing systematic, research driven, medium and long-term trendfollowing models across a broad range of diversified global futures markets.

Risk Consideration

Risk Considerations

Mutual Fund investing involves risk including the possible loss of principal value. The Fund’s investment activities involve a significant degree of risk and material losses may occur. The Fund may invest in derivatives, (futures, options, swaps) and commodities. Investing in managed futures may not be suitable for all investors given its speculative nature and the high level of risk involved. The Fund is appropriate only for investors who can understand and bear the risks associated with product. Exposure to commodities markets and commodity-linked derivatives may subject the Fund to greater volatility affected by industry-related factors, value, supply and demand, governmental policies, weather, economic and political factors To the extent that the investment advisor misjudges current market conditions, the Fund’s volatility may be amplified by its use of short sales and derivatives, and by its ability to select Sub-Advisers to allocate assets. Short sales by a Fund theoretically involve unlimited loss potential since the market price of securities sold short may continuously increase. Derivatives may be more sensitive to changes in market conditions and may amplify risks. Derivatives are subject to the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty to the derivative instruments and the risk of loss due to changes in interest rates. The use of certain derivatives may also have a leveraging effect which may increase the volatility of the Fund and may reduce its returns. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund’s portfolio to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise. The Fund invests in the securities of foreign and emerging markets which are subject to currency fluctuation, political instability, social and economic risks. In particular, emerging and frontier markets may be more volatile and less liquid than more developed markets and therefore may involve greater risks. In order to qualify as a Registered Investment Company (RIC), the Fund must meet certain requirements regarding the source of its income, the diversification of its assets and the distribution of its income. If the Fund was to fail to qualify as a RIC and became subject to federal income tax or if there were changes in the laws of the United States and/or the Cayman Islands, this could adversely affect the Fund and shareholders of the Fund would be subject to diminished returns. Please refer to the prospectus and SAI for more information on tax risks. Fixed income securities that the fund may invest are subject to credit risk, prepayment risk and interest rate risk so that as interest rates rise the value of bond prices will decline. The Fund is non-diversified which means it may be invested in a limited number of issuers and susceptible to any economic, political and regulatory events than a more diversified fund.

About the
Abbey Capital Multi Asset Fund

The Abbey Capital Multi Asset Fund (the "Fund") combines an allocation to a multi-manager managed futures strategy with a managed long US equity strategy. The remaining cash is invested in a short-dated fixed income strategy.

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Multi-manager managed futures strategy

Target exposure approximately 100% of the Fund's net assets. Executed through managed account allocations to underlying managers*. Bi-directional exposure to over 120 markets across equity indices, commodities, bonds, interest rates and foreign exchange.

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Managed long US equity strategy

Target exposure of approximately 50% of the Fund's net assets. Executed using S&P 500 futures contracts for capital efficiency. Managed by Abbey Capital within defined thresholds.

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Fixed income strategy

Approximately 70% of the Fund's net assets. Short duration US fixed income portfolio.

*The Fund may achieve its managed futures strategy through an investment in the wholly-owned and controlled subsidiaries of the Fund.
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PRODUCTS
Abbey Capital Futures Strategy Fund

Our US multi-manager managed futures mutual fund for US investors.

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PRODUCTS
Private Placement Funds

Private placement funds for institutional investors and high-net-worth individuals.

Learn More

Let’s talk

Fill out the form and one of our team will be in touch.

The Fund may invest in derivatives (futures, options, swaps) and commodities. Investing in managed futures may not be suitable for all investors given its speculative nature and the high level of risk involved. The Fund is appropriate only for investors who can understand and bear the risks associated with product. Click here for further risk considerations. Investors should consider the investment objectives, risks, charges and expenses of the Abbey Capital Multi Asset Fund carefully before investing.

A prospectus with this and other information about the fund including returns current to most recent month-end may be obtained by calling (US Toll Free) 1-844-261-6484, international callers call + 1-414-203-9540, or by clicking here. The prospectus should be read carefully before investing.

The Abbey Capital Multi Asset Fund is distributed by Quasar Distributors, LLC. 

Correlation: Correlation is a statistical measure which quantifies the extent to which two assets, or securities, move in relation to each other. The correlation coefficient between two assets can vary from between -1 and +1, with a positive correlation indicating a tendency to rise and fall together, and a negative correlation indicating a tendency to move in opposite directions.

Short Duration: Abbey Capital defines “Short Duration ” as securities with a duration of 6 months or less.